Taxes: What percentage of your income did you pay in taxes? (company, tax)

[slackjaw]

You, the notion that someone who sets their prices for services to others who have a fixed salary are somehow avoiding taxes by padding it to their customers.

[texdav]

Originally Posted by jtur88

Those of us at the bottom of the food chain pay ALL the taxes. The entire tax burden is ultimately paid by the people who are not in a position to pass it along to somebody else. That means the wage-earning consumers. Me and you. I pay my dentist's income tax---he just pads the bill so he gets the income he needs after taxes. My landlord includes property tax in my rent and then pays it for me.

As for direct tax, I pay very little. I haven't filed an income tax return since 1990. I don't drive, so no gas tax or traffic fines, the big ticket item.. I buy almost nothing at retail besides groceries, which are not taxed here. I pay tax on utilities, and that's about it. I don't smoke or drink, so I'm not hit with punitive taxes. The total taxes on all my utility bills last month was $11, and my most recent retail purchases were online (including a $139 TV), so no tax there. I'd be surprised if I pay more than a dollar a month on sales tax for a few taxable items I buy locally, like laundry soap and light bulbs..

So, I'd say all my itemizable direct taxes comes to about $150 a year, tops. I give away at least ten times that much to people who need money, but are not eligible for tax-funded benefits or organized charity.

Sp by your view ;your employer pays you;so he is really paying your taxes plus survival really.You work and the dentist's is worth nothing.

[slackjaw]

Or:

Two DUI lawyers with offices next door to each other both charge $150/hour the prevailing rate in their community.

Attorney A = married to another high earner, no children, rents apartment
Attorney B = single mother of four children, owns home with mortgage

Attorney A is likely paying a lot more in income taxes, but what gives? They are both charging what the local market will let them for small office DUI attorneys. Which one didn't get jtur88's memo about adding in your income taxes?

[mathjak107]

Originally Posted by jtur88

Those of us at the bottom of the food chain pay ALL the taxes. The entire tax burden is ultimately paid by the people who are not in a position to pass it along to somebody else. That means the wage-earning consumers. Me and you. I pay my dentist's income tax---he just pads the bill so he gets the income he needs after taxes. My landlord includes property tax in my rent and then pays it for me.

As for direct tax, I pay very little. I haven't filed an income tax return since 1990. I don't drive, so no gas tax or traffic fines, the big ticket item.. I buy almost nothing at retail besides groceries, which are not taxed here. I pay tax on utilities, and that's about it. I don't smoke or drink, so I'm not hit with punitive taxes. The total taxes on all my utility bills last month was $11, and my most recent retail purchases were online (including a $139 TV), so no tax there. I'd be surprised if I pay more than a dollar a month on sales tax for a few taxable items I buy locally, like laundry soap and light bulbs..

So, I'd say all my itemizable direct taxes comes to about $150 a year, tops. I give away at least ten times that much to people who need money, but are not eligible for tax-funded benefits or organized charity.

you cant charge anymore then markets allow or your competitors regardless of your tax status. i wish i could just charge any rent i wanted so i can cover my taxes. tried getting an extra lousy 50.00 bucks rent and the apartment went unrented for an extra month until i rolled it back.... you can try to charge whatever but most of the time you wont get what you want and if you get caught over charging you will loose your customer or client as well. its amazing how those with the least experiance at things have the most convoluted thoughts about those very things and how they work or should work.

tell any self employed person they can charge whatever they like and they will laugh at you.

[jtur88]

Originally Posted by slackjaw

You, the notion that someone who sets their prices for services to others who have a fixed salary are somehow avoiding taxes by padding it to their customers.

That's not what you said. What's the connection between that and "If you pay ALL the taxes what the hell am I paying every year?"

Every time you buy something, your price includes all the costs of delivering the product or service to you, including any hidden taxes paid by anyone in the chain.

If your electrical energy is produced by burning coal from Wyoming, and Wyoming charges a severance tax on that coal, do you think the CEO of the electric company digs into his pocket to pony up the tax, without adding it into your electrical rates to recover it?

[slackjaw]

Originally Posted by jtur88

What's the connection between that and "If you pay ALL the taxes what the hell am I paying every year?"

I've paid income taxes for services where the amount charge was based on market rates not income tax. I paid the income taxes, so to hear someone claiming they (who hardly pays any) pay all the taxes because they aren't able to set a price for something is absurd.

It isn't priced into the service, as two people charging same can have vastly different income tax burdens.

[mathjak107]

all the costs of doing business are lumped together. hopefully there is profit in there too but alot of times there is to slim of a margin because those costs cant be passed on and eventually the buisness dies.... your totaly off base with your logic that a business can hold any profit margin it wants and just pass all taxes and costs on....... most of the time it all comes off your bottom line unless you got a monopoly.

[piyf]

This thread went in the crapper quick.

[jdrtx]

The tax laws is a book of favors. imo

[Texas User]

For W2's = Around 7%.
1099's = 15% on capital gains.