Who's gonna owe taxes this year?

As stated before the government does not want people knowing what they pay so they make it intentionally obfuscated. Most people only know the take home and hope to get money back on fileing.
-Kevin
I don't have any problem with criticizing the government but....if people don't know what they pay in federal income tax it's their own fault and no one else's. How hard is it to read a check stub, a 1099, your tax return, and the check you write to them?
 
I'm curious how your property tax mill rate compares to ours. Mine is 15.17713 per thousand, 65% is education.
I don't have any problem with criticizing the government but....if people don't know what they pay in federal income tax it's their own fault and no one else's. How hard is it to read a check stub, a 1099, your tax return, and the check you write to them?

So I know what I pay in federal taxes by looking at my paycheck at the end of the year as I'm sure many others do too. My employer takes out I would assume is close to what I owe. They don't know my deductions ect.. Most of us aren't accountants or know how to estimate using online calculators. So when we do out taxes this year with the new plan , how are we supposed to know we would owe thousands. Yes, getting back a check is giving the government free money to make interest on. The goal is to break even at the end of the year. So now it looks like I need to take out around $675 a month to do that.......On top of my employer taking it out of my check.
 
I don't have any problem with criticizing the government but....if people don't know what they pay in federal income tax it's their own fault and no one else's. How hard is it to read a check stub, a 1099, your tax return, and the check you write to them?
People are generally stupid. I have had some think the government was actually giving them money in April not understanding that it is actually a refund of their money.
 
I don't have any problem with criticizing the government but....if people don't know what they pay in federal income tax it's their own fault and no one else's. How hard is it to read a check stub, a 1099, your tax return, and the check you write to them?

I completely get what you are saying, BUT, the idiots that do not even know who is the VP, or the three branches of government, have absolutely no idea what those numbers mean even if they look at them. Studies have shown that the fiscal attitudes become more conservative when people are given their money and they pay the tax vs. the employer paying the tax.

There is just something "real" about writing a check...

MM
 
Speaking of "real"...

I recently asked my friend's little girl what she wanted to be when
she grows up. She said she wanted to be President some day.

Both of her parents, liberal Democrats, were standing there, so I
asked her, "If you were President what would be the first thing you
would do?"

She replied, "I'd give food and houses to all the homeless people."
Her parents beamed.

"Wow...what a worthy goal," I told her, "But you don't have to wait
until you're President to do that. You can come over to my house and
mow the lawn, pull weeds, and sweep my driveway, and I'll pay you $50.
Then I'll take you over to the grocery store where the homeless guy
hangs out, and you can give him the $50 to use toward food and a new
house."

She thought that over for a few seconds, then she looked me straight
in the eye and asked, "Why doesn't the homeless guy come over and do
the work, and you can just pay him the $50?"

I said, "Welcome to the Republican Party!"

Her parents still aren't speaking to me.
 
So I know what I pay in federal taxes by looking at my paycheck at the end of the year as I'm sure many others do too. My employer takes out I would assume is close to what I owe. They don't know my deductions ect.. Most of us aren't accountants or know how to estimate using online calculators. So when we do out taxes this year with the new plan , how are we supposed to know we would owe thousands. Yes, getting back a check is giving the government free money to make interest on. The goal is to break even at the end of the year. So now it looks like I need to take out around $675 a month to do that.......On top of my employer taking it out of my check.
You and your tax man know your private business. Somehow between the two of you it's supposed to be taken care of. Have you tried the IRS withholding calculator? Has your tax guy actually run your numbers or is he guessing?

Talk to your tax guy about withholding, maybe withholding at the single taxpayer rate(it's more) will get you close enough. Maybe you'll have to make estimated tax payments, he should be guiding you in these things.
 
I'm curious how your property tax mill rate compares to ours. Mine is 15.17713 per thousand, 65% is education.
Don’t have the tax bills in front of me, but about 2/3’s of the total I pay sounds about right for education.
 
I completely get what you are saying, BUT, the idiots that do not even know who is the VP, or the three branches of government, have absolutely no idea what those numbers mean even if they look at them. Studies have shown that the fiscal attitudes become more conservative when people are given their money and they pay the tax vs. the employer paying the tax.

There is just something "real" about writing a check...

MM
I guess we're screwed, writing checks is well on it's way to being history...10years maybe. If everyone is as stupid as you say it'll take that long to teach them how to write one.:eek: In fact I wonder how long before the schools quit teaching kids how to write altogether.... I can see it now, at best, written communication will be all thumb texting shortcuts. MM, you'll be trying to get 2 posts out of TQ(thank you).:D I'm just teasing.
 
Woody I would have to laugh if it was not true, you know they are not teaching cursive writing anymore? I ask how can they even sign their name if they don't know cursive? The comment was they would just touch their screen with their finger.


I guess we're screwed, writing checks is well on it's way to being history...10years maybe. If everyone is as stupid as you say it'll take that long to teach them how to write one.:eek: In fact I wonder how long before the schools quit teaching kids how to write altogether.... I can see it now, at best, written communication will be all thumb texting shortcuts. MM, you'll be trying to get 2 posts out of TQ(thank you).:D I'm just teasing.
 
Woody I would have to laugh if it was not true, you know they are not teaching cursive writing anymore? I ask how can they even sign their name if they don't know cursive? The comment was they would just touch their screen with their finger.
I actually witnessed that a few days ago. At a restaurant with a friend and his son about 10 years old. The kid couldn't read the specials board written in cursive.:(
 
Long Island should be it’s own state. With the amount we contribute... alone we would be ranked in the the 10 economically, population, and in education. The shithole of nyc is sucking us all down!

While that is what Long Island Politicians and School Administrators would love for you to believe, a closer look at empirical data reveals that it’s overly simplistic and actually not exactly true.
NYC contributes a lot to the state. More than the rest of the State combined.
I get a kick out of my Long Island neighbors blaming NYC for their high school taxes. They complain that the property tax on houses in NYC was too low and that we paid more to subsidize the NYC schools. Not a penny of any of my school or property tax goes to NYC.
Yes, NYC taxes on single family houses are lower than a comparably valued house in Nassau County. But the guy in Queens paying $3000.00 a year in property taxes on his 1200 square foot house on a 40 x 80 lot is also paying a City income tax of about 4% and his total household income is probably a decent amount if he is able to afford to buy that house so it all works out in the end.
Example: I’ve got one brother that still lives in an all attached house with no backyard in Queens. His property taxes are just under 3k a year. His wife is a NYC School Teacher who works full time in a summer camp when school is out and he is a NYC Sanitation worker. I would venture to guess that they probably pay about 8k a year in City income tax. That makes a rough total of about 11k a year for a tiny house with no extra property and a bus stop in front of it.
We left NYC 23 years ago because of the high cost to remain there.
NYC gets state aid for their schools, but so do Long Island districts. The percentage of what the City gets back from the State is about the same as what the Long Island districts get back. The reality is that largely because of the economy of scale, it costs NYC less per pupil to educate kids than it cost in a Long Island district. Long Islanders largely reject the idea of combining school districts to take advantage of that economy of scale.
The amount of revenue the State gets from City income, sales, mortgage, hotel, and other taxes is more than the entire rest of the State combined.
NYC does put a heavy strain on State entitlements, but Long Island has their fair share of tax drains per capita too, and a lot of upstate NY is really depressed. The rest of the state would be hard pressed to find a way to pay for all of that if the Tax base in NYC weren’t in the mix.
Like in most big cities, because of gentrification, the highest concentration of entitlement recipients in NYC are probably in public housing these days. NY State doesn’t subsidize NYCHA. The City pays for it from their tax base along with heavy subsidies from the Feds. That’s why the Governor has absolutely zero to do with NYCHA and it’s HUD Secretary Ben Carson that is considering a takeover from the Mayor.
Tolls on East River crossings are insane and exist largely to supplement the subway fares. But they also subsidize the aging and inefficient commuter rail systems that carry all those surburbanites in to NYC where most of them transfer on to the subsidized subway lines that carry them back and forth to the jobs where they earn the money to pay their Long Island property taxes.

Bottom line: The insanely high property taxes on Long Island are attributable to local waste, fraud, and abuse, more than anything else.
They had a good run out here for about 40 years after World War II when the suburban sprawl really kicked in and potato farms turned in to large communities. Nobody really paid attention to the local leeches lining their pockets because they were able to keep growing the tax base with more land development. It was a great scheme until they ran out of room to build. Things really got out of hand when all those schools they built in the 1950’s and 1960’s to accommodate the young families got old enough by the 1990’s to need major Capitol improvements. That’s when the crap really hit the fan.
 
As another member pointed out, you’re lucky you don’t live north of the border when it comes to taxes. Deductions are few (for me, anyway)We can not deduct mortgage interest on our residences, and boats don’t classify as secondary residences. You also cannot get mortgages on boats.
Generally, consumption is discouraged with virtually everything subject to a “gst” - good&services tax at 13% in Ontariowe. Boats, cars, gasoline,heating costs for your house etc.
Even trying to drown our sorrows is expensive due to tax.....a 24 of Budweiser in cans is $43!!

At least taxes in Canada fund useful things to society like education, healthcare, and infrastructure.
 
Also I have a $3million home, and my property taxes are $9000/year. Not to mention the (soon to be) 9% rate I pay on my corporate income. And numerous deductions you don’t get south of the border. It all evens out.
 
I'm curious how your property tax mill rate compares to ours. Mine is 15.17713 per thousand, 65% is education.
Woody, your figure on the property tax got me to wondering what mine is. I checked online and it's 12.27376590.
 
Woody I would have to laugh if it was not true, you know they are not teaching cursive writing anymore? I ask how can they even sign their name if they don't know cursive? The comment was they would just touch their screen with their finger.

Nah, they will just sign with the mark of the beast... LOL

MM
 
If you used to pay AMT tax, that goes away with the new plan which should save thousands.
 
You and your tax man know your private business. Somehow between the two of you it's supposed to be taken care of. Have you tried the IRS withholding calculator? Has your tax guy actually run your numbers or is he guessing?

Talk to your tax guy about withholding, maybe withholding at the single taxpayer rate(it's more) will get you close enough. Maybe you'll have to make estimated tax payments, he should be guiding you in these things.
The best way to do it is figure out what you will owe -- usually based on last year's taxes (absent any special circumstances). Divide by 52 (or whatever your pay period is). And have them withhold that amount each check. Adjust as necessary.
 
You could multiply that 9,000 by 3 to 6 times in my area. I did a little reading about Canadian property tax. Is this 'fair' info? https://www.altusgroup.com/wp-conte...n-Property-Tax-Rate-Benchmark-Report-2018.pdf

I believe that to be accurate. You’ll notice in Vancouver the residential tax rate is $2.47 per $1000 of asessed value which equates to a .25% property tax rate. Mine are slightly higher at .43% here in North Vancouver. Assessed value is also typically 10-20% less than market value.
 
In Canada....How are you suppose to pay for free health care if not taxing gas, pot and liquor..... All of which the government controls.

When the government controls .....money is wasted and there is no competition to self regulate... Socialism is not self sustaining.

Don't believe that in Canada health care is free. At one time, maybe but today between Health and Dental Plan costs along with their deductibles and limitations + an annual federal government EHT (employer health tax) my costs are about $4000/yr. Doesn't sound free anymore - right?
 

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