Members 78pbass Posted October 6, 2006 Members Share Posted October 6, 2006 I just earned the biggest commission check this company's ever cut, and my post-tax take was only 51.6%. I'm PISSED. Y'know, I'm all for supporting government programs, Arts, social programs, etc, and always have been, but the more I earn, the less I get. The part that pisses me off is that I should see a bigger refund at the end of the year. i can tell you thats a crock. a pro muso friend 'claimed' 15k last year and got back 2x what I got back for my 90k household...and I own a house...and I have 2 kids....and I have an agressive CPA. Why should I even throw in to the pool when I am not using any of the services and my return on my 'investment' is nil. I'm no longer supporting pro-tax anything going forward. {censored} that Link to comment Share on other sites More sharing options...
Members lug Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by 78pbass I just earned the biggest commission check this company's ever cut, and my post-tax take was only 51.6%. I'm PISSED. Y'know, I'm all for supporting government programs, Arts, social programs, etc, and always have been, but the more I earn, the less I get. The part that pisses me off is that I should see a bigger refund at the end of the year. i can tell you thats a crock. a pro muso friend 'claimed' 15k last year and got back 2x what I got back for my 90k household...and I own a house...and I have 2 kids....and I have an agressive CPA. Why should I even throw in to the pool when I am not using any of the services and my return on my 'investment' is nil. I'm no longer supporting pro-tax anything going forward. {censored} that ......puts on commie-pinko hat But you benefit from having a thoretically better society. There will now be an entire village to raise of your kids! WHOOHOO! Link to comment Share on other sites More sharing options...
Members burdizzos Posted October 6, 2006 Members Share Posted October 6, 2006 Welcome to the dark side. My wife had that same epiphany about three years ago when her income increased significantly. It was comical when she got her first paycheck on the new pay scale. I'm sure everyone on the block heard her exclaim, "What the {censored}?" Link to comment Share on other sites More sharing options...
Members Boxster Posted October 6, 2006 Members Share Posted October 6, 2006 Solution is simple. Become a multi-millionaire. You won't have to pay {censored}. Link to comment Share on other sites More sharing options...
Members bnyswonger Posted October 6, 2006 Members Share Posted October 6, 2006 Should 5% appear too smallbe thankful I don't take it all... Link to comment Share on other sites More sharing options...
Members Svi Posted October 6, 2006 Members Share Posted October 6, 2006 Taxes suck. When I was young and dumb I decided to claim myself "exempt" on my W2. Three years later I received a lovely letter from the IRS demanding $4,000. And those penalties and interest were through the roof. Gotta love the government! Link to comment Share on other sites More sharing options...
Members B-Bottom Posted October 6, 2006 Members Share Posted October 6, 2006 people always change their tune as soon as it starts cutting into their pay. I too welcome you to the Dark Side. You can pick up your red light sabre at the door Link to comment Share on other sites More sharing options...
Members 78pbass Posted October 6, 2006 Author Members Share Posted October 6, 2006 Originally posted by burdizzos Welcome to the dark side.My wife had that same epiphany about three years ago when her income increased significantly. It was comical when she got her first paycheck on the new pay scale. I'm sure everyone on the block heard her exclaim, "What the {censored}?" yep, I am commissioned. 218% of regular performance, and only a $1000 net gain against $3400. BULL{censored}. So much for buying a Kawasaki and a new cab. we'll have to see how it all pans out Link to comment Share on other sites More sharing options...
Members Svi Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by 78pbass yep, I am commissioned. 218% of regular performance, and only a $1000 net gain against $3400. BULL{censored}. So much for buying a Kawasaki and a new cab. we'll have to see how it all pans out Do you get a nice refund at the end of the year? I usually do. But finally I figured out that the government was borrowing money from me interest free. F*ck that, I said. So I had my employer figure out exactly how much to take out so I would not owe, nor receive. I still get money back from the interest I pay on my condo though, so it works out pretty nicely. Link to comment Share on other sites More sharing options...
Members Fran da Man Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by MrsSvi Taxes suck. When I was young and dumb I decided to claim myself "exempt" on my W2.Three years later I received a lovely letter from the IRS demanding $4,000. And those penalties and interest were through the roof. Gotta love the government! I don't understand why you claimed exempt for an entire year if you couldn't prove it.In the US throughout the year you can claim up to 10 on your taxes for a few weeks, letting it ride for too long, then you have prove those 10 by SS numbers. Link to comment Share on other sites More sharing options...
Members burdizzos Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by Boxster Solution is simple. Become a multi-millionaire. You won't have to pay {censored}. Really, can you please provide additional information to back that up? Link to comment Share on other sites More sharing options...
Members Svi Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by Fran da Man I don't understand why you claimed exempt for an entire year if you couldn't prove it.In the US throughout the year you can claim up to 10 on your taxes for a few weeks, letting it ride for too long, then you have prove those 10 by SS numbers. Right. I was a kid (17), on my own, not knowing what the hell "taxes" were. I saw "exempt" on the bottom of the form and thought "SWEET!". One of the stupider things in life I've done. Link to comment Share on other sites More sharing options...
Members Emprov Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by Boxster Solution is simple. Become a multi-millionaire. You won't have to pay {censored}. Ahem. Anyone who says this has no understanding of how the tax system works. Link to comment Share on other sites More sharing options...
Members misterhinkydink Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by Boxster Solution is simple. Become a multi-millionaire. You won't have to pay {censored}. Or invest in a big defense contractor then 78pbass's money will come to you. Link to comment Share on other sites More sharing options...
Members burdizzos Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by Emprov Ahem. Anyone who says this has no understanding of how the tax system works. Well, if you became a multimillionare, then stopped working, moved your money to the Cayman Islands, spent all of your money with a bank issued credit card and moved into a cheap rental property, you'd avoid paying taxes. Link to comment Share on other sites More sharing options...
Members Emprov Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by 78pbass I just earned the biggest commission check this company's ever cut, and my post-tax take was only 51.6%. I'm PISSED. Just wait until you see what it does to you're income at the at the end of the year. Hopefully you won't be in AMT territory. Link to comment Share on other sites More sharing options...
Members s4001 Posted October 6, 2006 Members Share Posted October 6, 2006 Welcome to the dark side. The path through the dark side leads to enlightenment - then you will be a Libertarian. shows 78 secret handshake and booty wiggle Link to comment Share on other sites More sharing options...
Members Boxster Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by Emprov Ahem. Anyone who says this has no understanding of how the tax system works. I'm no Tax specialist. And to say they don't pay "{censored}" may not have been accurate. But let's be realistic. The tax code in this country is incredibly unfair and leans toward the rich who can hire cleaver accounts to get them out of paying their fair share. "Real rich people figure out how to dodge taxes." - George W. Bush. And he should know. Link to comment Share on other sites More sharing options...
Members Crescent Seven Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by burdizzos Welcome to the dark side. My wife had that same epiphany about three years ago when her income increased significantly. It was comical when she got her first paycheck on the new pay scale. I'm sure everyone on the block heard her exclaim, "What the {censored}?" Yep. My wife just got a $15,000/year raise. It's not that much after the IRS takes their cut, because it bumped her to the bottom of the next higher tax bracket. She was pissed when her per-check increase was substantially smaller than her estimates. I welcomed her to the Dark Side that night with Labatt's Blue and a mushroom tattoo. C7 Link to comment Share on other sites More sharing options...
Members Boxster Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by Boxster cleaver accounts Clever Accountants Sorry not a spelling specialist either Link to comment Share on other sites More sharing options...
Members chris-dax Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by burdizzos Really, can you please provide additional information to back that up? Here you go..... Link to comment Share on other sites More sharing options...
Members beginner01 Posted October 6, 2006 Members Share Posted October 6, 2006 I take it that you are NOT an illegal minority Link to comment Share on other sites More sharing options...
Members Crescent Seven Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by beginner01 I take it that you are NOT an illagal minority What's an illagal? Link to comment Share on other sites More sharing options...
Members thelurker Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by Boxster I'm no Tax specialist. And to say they don't pay "{censored}" may not have been accurate. But let's be realistic. The tax code in this country is incredibly unfair and leans toward the rich who can hire cleaver accounts to get them out of paying their fair share."Real rich people figure out how to dodge taxes." - George W. Bush.And he should know. Ah, the old "fair share" argument. Why should anyone pay more for the right to be a citizen than anybody else? You can't charge different amounts at the movie theater, or at the grocery store. Many "citizens" at the low end don't pay any taxes at all, but are still citizens. The top 1% pay the most, the top half pay EVERYTHING. That's not "slanted to the rich". The funny thing is how many people think they're in the lower half when they're actually not. Link to comment Share on other sites More sharing options...
Members burdizzos Posted October 6, 2006 Members Share Posted October 6, 2006 Originally posted by chris-dax Here you go..... I didn't read anything in that editorial to lead me to believe that the rich do not pay taxes. The information from the IRS leads me to believe that the rich pay far more than their "fair share". Link to comment Share on other sites More sharing options...
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