And that's probably only talking about your income taxes. Add in the rest of the taxes you pay like the obvious sales and property taxes, and the mor hidden taxes like licens plates gas tax adden already on the pump price, permits and fees that are little more than more taxes and its quite high.

I think if everyone had to send check quarterly for taxes and felt the pain vs automatic payroll deduction People would ld pay a lot more attention to government spending an wast.

Way to take advantage of all possible options Providence Farm. I hope you reduce your tax burden as much as possible.


My wife is still waiting for the federal government to come do 35% of her job.

Um... You only pay how much taxes you owe. When you over pay what you owe you get a refund. If you want more of a refund then pay more in taxes throughout the year by having more withheld or figure out how to make your taxable income less so they don't need all that you have paid in to cover the costs. I'm not sure how you can be upset over someone's refund. Mathematically they shouldn't have let the govt hold their money. My "last 12 months" is 40% gain in one account. It'd be better to have your money in say an account like that, not letting the govt hold it for you (making that 40% for themselves)... but I would rather get a refund too.

I very much appreciate folks like PF who begin to understand our tax code. I too have children still at home and yes also work a primary job that pays me good for my labors and for my experience that required a college degree. I too generally take a loss at farming like over 50% of farmers today (yes - factual look it up). Some can call it a hobby and I would invite them to come drag dead cows off or dead ewes and lambs or break ice twice daily, feed daily, hay for hours upon hours in the summer and work on equipment. So, if the irs wants to call that a hobby when I have USDA designed conservation plans and programs - let them. See, I do my taxes also - I read the codes and know the tax code today is designed for folks to do something for themselves - not go work a job somewhere else and have taxes with held thinking I am getting ahead. Did public education ever teach any of you to do your own taxes? Why do you think that is? We all make choices. I encourage everyone - do SOMETHING for yourself work wise.

Not yet.Got to get my w2s

Tax code is absurd. Lawyers have built whole business's around doing other peoples tax's. Accountant's too. Even business like H and R block that do tax for middle and low income people. Its so voters have no idea what is really going on. Its how big brother gets away with sending so much money to other countries and allowing private defense contractors to siphon off huge amounts. People just accept it.

Tax code for feds and local both should take up no more than a page or two. Balanced budget amendment needs to gain traction.

Maybe we'll end up with a new flat tax rate by the end of the current administration. No exclusions. Would make it pretty simple.

Just waiting for brokerage and bank statements, then off to the accountant.

I always sit down with the accountant in early December to make a plan. I always owe something on tax day just depends on the year

Still waiting on forms.

What's weird is half the country pays no income tax, everybody should be paying something. They need to end earned income tax credit which is just a revenue sharing scheme.

Be nice if Congress would get off their buts and pass the bill that does not require you paying taxes on your SS. You already paid taxes on it once. Trump said he is going to take care of it and get it done. I’m pretty much worthless now, but I could be certifieably worthless if he gets that done.

That was part of the bill introduced I made a thread about that was nuked. NO TAX on social security benefits, tips, or over time.

Federal income tax needs to be eliminated

Go to a flat tax on everything taxable and that way EVERY person is contributing. Including illegals, drug dealers, scammers, rich, poor etc

If you can afford to buy cigarettes you need to be paying taxes
PERIOD

And while they are at it fix the food stamp/welfare program to where it can ONLY be used for what it was intended, no trading and manipulating to get cash or drugs or whatever

I believe ssi is taken out pre tax. So you never paid any taxes on it. It is like it is tax deferred. Kind of like 401ks.

the forms just started arriving last week we started a folder to put thigs in as the get here.

mine is easy worked for the same place a long time and I spend a 200% of any trapping income on more trapping stuff so I don't bother to claim it.
maybe I should start and claim my losses for 2 years then make a dollar then 2 years losses then make a dollar.

I'm not at all against utilizing tax breaks. And I will openly admit I do not understand the tax code. I just find it very hard to believe that someone that makes as much as you always brag about making gets a refund. But I also forgot about how much you say you put into retirement accounts, so I guess you wouldn't be taxed on that either. So, I retract my earlier statement...

Are you new here, millionaires don’t pay taxes.

Probably file in May after K-1 forms are ready.

If SSI is not a tax you pay while you’re working, then it’s your deferred money to be used later? Let’s say you pay in while you’re working 200$ every week for 35-40 years. The government gives it back to you at so much a month when you apply for it cause it’s your money you let them use for that length of time. Let’s say you take the big ride 3 months after you start receiving your money that you paid in back in SSI benefits. Then do your relatives or whoever is in your will receive the remainder of your money that you paid in?? I don’t think so. It has to be paid in as a tax on you when you make it. Other wise the government would be required to pay the remainder of it too your designated beneficiary’s. I’m probably wrong thinking that way but I do know that it was not taxed up until 25-30 years ago when paid out as SSI.