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tell me how you had 3k taken out of you taxes and still owed 93
you said less than 20k earnings....correct???
1040a
lines 7.....20k
line 15 total of line 7-14......20k
(I suppose you had no OTHER income since you said you make less than 20k)
line 21.....20k
line 22.....20k
line 24 standard deduction......5450
line 25 subtract 24 from 22......14550
line 26 total exemptions from 6d (this incudes yourself).....3500 (1x3500...if you have kids or a wife ?x3500)
line 27 subtract 26 from 25......11050
line 28 tax (see tax tables)........1260
now we have not taken any credits YET (education credit, 401k/retirement fund credits, etc...which will lower it even more
and you didnot say if you were a homeowner, paying taxes on mortgage (DEDUCTIBLE), or if you have business expenses (anything you have to BUY, for work and are not reembursed for is a business expense...ie your uniform of special shoes, books, manuals, etc)....which if you itemize would take you past that standard deduction which would lower you even more
if you have one kid (single parent or not) you would quaify for the EIC
so the MOST you would be paying total on federal incone tax is 1260.....certainly not the 3000 you say
so either you cant do simple math, and you have been getting suckered for how ever long......or you LIED in your post.......which is it........
Excuse me, DO NOT CALL ME A LIAR!!! I wish I was a liar and did not have to pay all those taxes. Last year, I did have some overtime and made just around $21,000. I had $3,000 of taxes taken out, and I owed an additional $91 at tax time!! I am looking at one of my recent pay stubs for this year right now as of 11/20/2009. It says...
YTD amount 18,370.63
Federal withholding 703.00
Social security witholding 1,136.98
medicare employee 266.37
total withholding 2108.35
Now remember, the this is not my most current stub, and the year is not over. Also, they have taken like $400 less than last year because of the Obama stimulus.
lines 7.....20k
line 15 total of line 7-14......20k
(I suppose you had no OTHER income since you said you make less than 20k)
line 21.....20k
line 22.....20k
line 24 standard deduction......5450
line 25 subtract 24 from 22......14550
line 26 total exemptions from 6d (this incudes yourself).....3500 (1x3500...if you have kids or a wife ?x3500)
line 27 subtract 26 from 25......11050
line 28 tax (see tax tables)........1260
now we have not taken any credits YET (education credit, 401k/retirement fund credits, etc...which will lower it even more
and you didnot say if you were a homeowner, paying taxes on mortgage (DEDUCTIBLE), or if you have business expenses (anything you have to BUY, for work and are not reembursed for is a business expense...ie your uniform of special shoes, books, manuals, etc)....which if you itemize would take you past that standard deduction which would lower you even more
if you have one kid (single parent or not) you would quaify for the EIC
so the MOST you would be paying total on federal incone tax is 1260.....certainly not the 3000 you say
Quote:
Originally Posted by las vegas drunk
Excuse me, DO NOT CALL ME A LIAR!!! I wish I was a liar and did not have to pay all those taxes. Last year, I did have some overtime and made just around $21,000. I had $3,000 of taxes taken out, and I owed an additional $91 at tax time!! I am looking at one of my recent pay stubs for this year right now as of 11/20/2009. It says...
YTD amount 18,370.63
Federal withholding 703.00
Social security witholding 1,136.98
medicare employee 266.37
total withholding 2108.35
Now remember, the this is not my most current stub, and the year is not over. Also, they have taken like $400 less than last year because of the Obama stimulus.
I think an apology is in order.
you have had only 703 taken out in federal income tax...that's what we are talking about...not social security, not medicare
fact is as I showed you on the 1040 the MAXIMUM income tax you would have paid was for a FULL 20k (you stated LESS than 20k) 1260...yet you STATED you paid over 3k in INCOME taxes....
Quote:
am about as poor as you can get as I work full time but do not even clear $20,000 a year. They tax the hell out of me. I am sure I am at the bottom 40%, and I had to pay $3,000 in income taxes last year.
Quote:
Last year I had $3,000 taken out of my checks for the year, and I OWED $91 that I had to pay on top of that on
April 15th.
so yes , either you are just stupid(naive, ignoratnt, or an abuntant of other descriptions), or you are a LIAR, and no I dont 'owe' you an apology
Last edited by workingclasshero; 12-29-2009 at 12:32 PM..
lines 7.....20k
line 15 total of line 7-14......20k
(I suppose you had no OTHER income since you said you make less than 20k)
line 21.....20k
line 22.....20k
line 24 standard deduction......5450
line 25 subtract 24 from 22......14550
line 26 total exemptions from 6d (this incudes yourself).....3500 (1x3500...if you have kids or a wife ?x3500)
line 27 subtract 26 from 25......11050
line 28 tax (see tax tables)........1260
now we have not taken any credits YET (education credit, 401k/retirement fund credits, etc...which will lower it even more
and you didnot say if you were a homeowner, paying taxes on mortgage (DEDUCTIBLE), or if you have business expenses (anything you have to BUY, for work and are not reembursed for is a business expense...ie your uniform of special shoes, books, manuals, etc)....which if you itemize would take you past that standard deduction which would lower you even more
if you have one kid (single parent or not) you would quaify for the EIC
so the MOST you would be paying total on federal incone tax is 1260.....certainly not the 3000 you say
you have had only 703 taken out in federal income tax...that's what we are talking about...not social security, not medicare
fact is as I showed you on the 1040 the MAXIMUM income tax you would have paid was for a FULL 20k (you stated LESS than 20k) 1260...yet you STATED you paid over 3k in INCOME taxes....
so yes , either you are just stupid, or you are a LIAR, and no I dont 'owe' you an apology
I will be the bigger man, so I will resort to personal attacks like you. I made some over time last year, so what??? My salary is 19.760 a year. I DO NOT clear $20,000 a year, and I DID pay $3,000 in taxes last year.
I certainly did not get any overtime this year. What more do you want?
Edit: I will leave my post as is. However, by my actions it was supposed to read I will NOT resort to personal attack.
Last edited by las vegas drunk; 12-29-2009 at 12:46 PM..
I will be the bigger man, so I will resort to personal attacks like you. I made some over time last year, so what??? My salary is 19.760 a year. I DO NOT clear $20,000 a year, and I DID pay $3,000 in taxes last year.
I certainly did not get any overtime this year. What more do you want?
just be HONEST..... you paid 700 in INCOME taxes
yes you paid more than that in social security (6.5%) and medicare
we were talking about INCOME tax,,,not other fees, contributions or other taxes....if we we to then we wouldnt have enough pages with all the taxes that are out there
and I showed you (even though you are a low wage worker) how to get the most out of your return
do you contribute to a 401k/pension???? its DEDUCTABLE
does your job require you to have certain things at YOUR expense...then its a business expense...DEDUCTABLE
do you have any student loans????? the interest is DEDUCTABLE
do you go to school in the evenings???? tuition and school fees are DEDUCTABLE
do you care for a disabled parent??? a percent of the costs are deductable
but to say you make 20k and pay 3k in federal INCOME taxes is dishonest
yes you paid more than that in social security (6.5%) and medicare
we were talking about INCOME tax,,,not other fees, contributions or other taxes....if we we to then we wouldnt have enough pages with all the taxes that are out there
and I showed you (even though you are a low wage worker) how to get the most out of your return
do you contribute to a 401k/pension???? its DEDUCTABLE
does your job require you to have certain things at YOUR expense...then its a business expense...DEDUCTABLE
do you have any student loans????? the interest is DEDUCTABLE
do you go to school in the evenings???? tuition and school fees are DEDUCTABLE
do you care for a disabled parent??? a percent of the costs are deductable
but to say you make 20k and pay 3k in federal INCOME taxes is dishonest
This year is not over, so I will not comment. I paid a TOTAL of $3,000 in taxes last year. That includes all the mandatory federal, medicare, and social security taxes. My job offers NO benefits, so I do not get any other deductions.
This year is not over, so I will not comment. I paid a TOTAL of $3,000 in taxes last year. That includes all the mandatory federal, medicare, and social security taxes. My job offers NO benefits, so I do not get any other deductions.
You have to be able to see the difference between those different taxes. Income tax is the topic that is up for discussion.
You will recieve benefits later in life for Medicare and Social Security, thus those aren't taxes but benefits. You are saving for your future. In order to keep the conversation on point, lets just focus on income tax.
How bout instead of arguing who should pay more taxes, instead the gov't cut itself in half! Quit throwing so much money away on pet projects, gov't programs and bureaucracies, 'gimmie my piece' scams, etc. Gov't spending and thus taxing (and its related ilk) are completely out of control and must be reigned in.
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Last year, I did have some overtime and made just around $21,000. I had $3,000 of taxes taken out, and I owed an additional $91 at tax time!! I am looking at one of my recent pay stubs for this year right now as of 11/20/2009. It says...
I made some over time last year, so what??? My salary is 19.760 a year. I DO NOT clear $20,000 a year, and I DID pay $3,000 in taxes last year. 
