Is there anyone scheduled to receive their tax return today and don't have it credited yet? |
(2/15, 12:19 EST).
...And is your bank First Citizens bank? Additional Details For those that have received their return via direct deposit, does the "Wheres my refund&... |
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Is tax evil? |
| Everyone at work is struggling to cope financially and a few don't get proper food or clothing. We all work hard for 40 hours, but we're on NMW which barely allows people to surivive. P... |
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We hit AMT this year because WE PAID TOO much in taxes. Does that make sense? |
Just did our taxes and we owe an extra $2K in AMT. Our ONLY itemized deductions are our State and City (NYC) taxes.
AMT was developed to make sure that the "rich" pay enough in ... |
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How does one go about stoping your employer from taking out FICA taxes? |
Additional Details Maybe I should rephrase the question and ask...where do I found out how to become exempt from paying FICA -how do I qualify?... |
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Whether we can file Married Jointly or Seperately? |
| My wife and I were married December 2006- for the 2006 Taxes can we file Jointly or do we have to file seperately being that the marriage occurred so late in the year?... |
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Can I go to jail???Help me? |
| If I signed my ex's name on our taxes. He refuses to talk to me about anything and he was not working much. Our divorce was final 2008 so I filed married on our taxes and signed his name. Please ... |
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Am I required to give my social security number to a new employer? |
I'm being offered a job, but the company is not very well known, and I'm not sure if it's legit just because of all the scams out there.
They sent me a contract and tax ... |
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What do i do if i didnt file my taxes last year? |
| I didnt file my taxes last year and i was expecting money back. Do I have to jump through hoops to get my money, or should i just forget about it? What forms do I need, etc....? Can I efile, or does ... |
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Stimulus rebate ? Ok someone please help I have a head ache? |
Ok, I have been reading, that if you used HR & TubroTax or something like it you will have to wait for a paper check.
However I filled on line with TubroTax and my monies were direct ... |
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As a business owner, is the drive to and from work tax deductible? |
| I was trying to figure out if you can take the standard mileage deduction. I seem to see different opinions about this.... |
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Is everybody wealthy on this site? |
| I make a statement about the state of Florida wanting to lower property taxes and raising sale taxes.And so far only got 1 answer. Do all of you own million dollar home so when property taxes are ... |
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Received my Stimulus payment letter and says I will only receive $900 for me and my daughter but not for my? |
| Wife. It says " If the net income tax liability on my '07 tax return is less then $600 and had $3000 or more in qualifying income the amount is $600." Does this have anything to do ... |
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Sales tax on a new car - determined by where I bought the car or where I live? |
| In my state, sales tax on new cars varies by county. I bought a new car in a county with 7% sales tax but I live in a county with 5.5% sales tax. Is my sales tax rate determined by where I bought ... |
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I'm a stripper/dancer. How much of my tips do I have to report? |
The answers i am getting at the club are all over the place. I have been in trouble w/ the IRS before and I don't want that again! I can't afford an accountant.
Any accountant types ... |
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If I make 40k a years how much I'll pay in taxes? |
I'll be working as a nanny, and I'll be paid $800 a week each is between 40,000 to 41,000 a year.
As a nanny do I pay all the taxes or the employe have to pay pert of my taxes to?
... |
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Mike | Do you think we should have a flat, national sales tax instead of the current income tax system? |
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sapboy2001
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Yes, not just yes but hell YES (to put it that way).
The flat tax would reduce the number of gov employees. It would increase the total revenue. It would save taxpayers money and time by not having to hire tax folks, hire a lawyer (sometimes) and fill out forms. Additionally all the illegals going "under the wire" would pay taxes, not just illegal aliens and the money they spend and send home but also the illegals like drug dealers etc when they buy their bling and cars etc.
Contrary to popular belief it would not affect the poor, they get a write off and you don't pay taxes on food stamps.
It would also change politics, in a good way. No more getting people to vote for you to lower your taxes and raise someone elses...no longer an issue. No more time spent deciding and changing tax code, no more tax shelters and taxes on savings for retirement...you pay it as you spend it.
IMO it will never happen, the government likes it control and slush funds too much to give a simple structure and control back to the people - you know we really are too stupid to handle our own money and take personal responsibility - just ask any Senator. |
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Mathew
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What would we have to talk about if we went to a flat tax system. Thousands of tax professionals would be unemployed and likely go on "welfair" (misspelling intentional). |
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tom
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A big YES to this one. |
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adam p
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Anything is better than the current system. |
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Lisa A
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YES! Tax consumption, not production! |
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zipp
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yes |
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Ryle P
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yes. it could near eliminate a powerful Gov. arm |
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Jo Blo
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no
not no but hell no
poor/low income people don't pay income tax now,, how do you think they would afford to pay a tax on items they buy??
Jo's welfare check would not go as far with this sales tax you talk about,, Jo no like idea..... |
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bostonianinmo
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Not "No!" but "HELL NO!"
The so-called Flat Tax is a ploy by the wealthy to transfer their tax burden to the shoulders of the middle class and working poor. Why do you think that folks like Steve Forbes like it so much?
For a flat tax to raise the revenue that the current graduated income tax raises would require a rate of around 25% - 27%. The wealthy pay a marginal rate of 35% so they'd see a nice fat tax cut. Steve Forbes, Bill Gates, and Warren Buffett would pocket MILLION$ on a flat tax.
Most middle-class working stiffs -- folks like you and me -- pay a total tax rate of between 10% and 20% of our total income. Pull out your tax return and compare the Total Tax line to the Total Income line -- and don't forget to add back any 401(k) contributions and your pre-tax medical insurance deductions -- and see what your total effective tax rate is. If you're like most folks, it will be a LOT less than 25%
Now, what would it do to the working poor? Let's have a look. Take a single parent supporting 2 kids on around $16k a year. They don't pay any tax at all and get about $4k in EITC payments. That makes for a little under $18.8k a year when SS and Medicare taxes are considered. They survive, but just barely. With a flat tax, the EITC would disappear and the tax bite would rocket to over $5,500 for them, including SS and Medicare. Take home pay would drop from from $18,800 to about $10,450. They'd be tossed into the streets by the millions. All so Steve, Bill, and Warren can have even more money than they could ever reasonably need.
The Flat Tax and the so-called "Fair Tax" -- a hugely expensive national sales tax -- both violate the first rule of taxation: Make sure that the taxpayer can afford to pay the tax. Our current graduated income tax does just that -- everyone pays their fair share and the poorest get an assist from those of us who are better off.
The impact of the "Fair Tax" on the working poor would be just as devastating as the Flat Tax since nearly every penny they earn goes to pay for essentials. The wealthy spend a far smaller portion of their total income and would get a major tax break.
Worse yet, the "Fair Tax" would require just as much work by the IRS to ensure that all sales were properly taxed and that the funds were rendered. Black marketing of untaxed goods would go through the roof. Look what is happening with tobacco and liquor in high-tax states right now. And we all know the type of element that black marketing attracts -- organized crime and gangs. Wouldn't THAT be nice, getting a TV or your Captain Crunch from the local gang-banger. No thanks! |
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william w
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no because most of our money is being sent out of this country and there would never be taxes on it and then the economy would definitely fold. |
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