Today I added up all the tax I pay

[JS80]

Sigh... So make up your mind... Those "loopholes" in the tax code are enjoyed by both the lower middle class on up, not just the upper middle and beyond. Those loopholes are there in recognition that we have a hybrid public/private health care system here and that those benefits of employment should not be taxed. There is another nice loophole that allows you to deduct medical expenses that are over a % of your gross income.... All this in recognition that we do not have a single payer system.

So if you are a liberal advocating that my employer's and my share of medical benefit plan cost be taxed... therefore raising my costs for medical coverage, which is something you advocate for being "free", then I guess I don't understand liberals at all.

I mean... I'm still paying for the coverage but because my gov't recognizes it can't provide that coverage free to me, it doesn't tax me on the cost.... Makes sense...

So please explain why as a liberal you want the income I spend on my health care plan taxed...

I wouldn't mind paying an extra $2500/mo for getting healthcare taxed just to punish low/middle income. Americans deserve to get kicked in the face for embracing socialist ideals. Give them what they want.

 

[highland145]

I posted it
Federal income: $3,014

I think he means what you owe. Not what you paid.
Based on 2010 tax tables, you're in the hole ~$600 if you don't have any other deductions.
http://www.bankrate.com/calculators/tax-planning/1040-ez-form-tax-calculator.aspx

 

[Throckmorton]

I think he means what you owe. Not what you paid.
Based on 2010 tax tables, you're in the hole ~$600 if you don't have any other deductions.
http://www.bankrate.com/calculators/tax-planning/1040-ez-form-tax-calculator.aspx

I calculated $3014 on the IRS website. State tax is deductible

 

[highland145]

I calculated $3014 on the IRS website. State tax is deductible

Thought you meant you had paid $3014 in. Sorry.

Is the state deductible if you don't itemize?

 

[Thump553]

To the OP: what is the 4% excise tax you referred to? The only excise taxes I'm familiar with are like a sales tax but only on a particular product. Tires, for example, have an excise tax (federal I think).

 

[Genx87]

I posted it
Federal income: $3,014

That is what they withheld. Not what you owe. I did a rough estimate for you a couple posts down based on you being single and not having itemized or other deductions and or qualifying for other credits.

Edit: Ok so you came out to a tax rate of 3014 after your deductions ect. That is even lower than I had for you. That is about 8% of your income is taken in federal income taxes. That is pretty damn low.

 

[spidey07]

Thought you meant you had paid $3014 in. Sorry.

Is the state deductible if you don't itemize?

ZOMG! Teh loopholes he's abusing! End the loopholes!

 

[Throckmorton]

Thought you meant you had paid $3014 in. Sorry.

Is the state deductible if you don't itemize?

I don't know... I thought I deducted it last year.

 

[highland145]

I don't know... I thought I deducted it last year.

This one looks more comprehensive than the 1st I posted.
http://www.dinkytown.net/java/Tax1040.html

 

[EagleKeeper]

I calculated $3014 on the IRS website. State tax is deductible

State tax is deductible only IF you itemize.

You are not itemizing.

If the 3014 is what the IRS states your taxes are; what was actually withheld.

Unless you have some tuition costs student loan payments or 401K type retirement funds; your return is done.

Or if you are supporting a GF, the numbers change

 

[Throckmorton]

Yeah, looks like state income tax isn't an adjustment.

I think what I did last year was deduct federal income tax from state.

So add another $300 to what I posted... $3300 federal income tax.

 

[Throckmorton]

Why is state income tax allowed as an itemized deduction? That means states with income tax have some of their residents paying less federal income tax. It's unfair to the states without income tax...

 

[spidey07]

Why is state income tax allowed as an itemized deduction? That means states with income tax have some of their residents paying less federal income tax. It's unfair to the states without income tax...

They can deduct sales tax.

 

[xBiffx]

Why is state income tax allowed as an itemized deduction? That means states with income tax have some of their residents paying less federal income tax. It's unfair to the states without income tax...

It's fair because I can't spend the money that goes to the state on anything else. Why should I have to pay tax on money that, for all intents and purposes, I couldn't do anything else with. Its not like other bills that you have a choice, somewhat, in choosing to have that service or not.

 

[umbrella39]

I paid more in federal taxes YTD than your salary and I'm not even in the 1% so go fuck yourself.

Grow up.

 

[highland145]

It's fair because I can't spend the money that goes to the state on anything else. Why should I have to pay tax on money that, for all intents and purposes, I couldn't do anything else with. Its not like other bills that you have a choice, somewhat, in choosing to have that service or not.

Then you get a 1099G to report the state tax deduction as income the next year. Or some crap like that.

 

[umbrella39]

Well it's high time you pay more and pay your fair share.

Says the "guy" who has a "wife" who works for the government, too. LMAO, your grandiose fantasies just keep getting more elaborate surrounded by your wall of canned goods.

 

[xBiffx]

Then you get a 1099G to report the state tax deduction as income the next year. Or some crap like that.

Why, its not income. That money is spoken for, I have no say in where it goes.

 

[SilthDraeth]

thanks and sorry for your misfortunes. a large part of the issue is i'm in the dc area which is very expensive. we have one car (no payment) but i ride a bicycle around because i cant afford a car payment right now which is starting to suck in the winter.

Thanks back.

Word of advice; Don't move unless you have already lost everything, or you have everything lined up/guaranteed where you are going.

I made my gamble right before all this housing market crash. IE End of 2007. It has been a really tough four years.

 

[EagleKeeper]

Then you get a 1099G to report the state tax deduction as income the next year. Or some crap like that.

Why, its not income. That money is spoken for, I have no say in where it goes.

If you itemize off your state income tax for year xx and you get a state income tax refund for year xx; the next year any state tax refund must be declared as income via the 1099G. If you did not itemize the state income tax; then the refund does not get declared as income.

the states do not know what you did w/ respect to the Feds; so they sent the 1099g no matter what.

 

[werepossum]

Federal income: $3,014
Social Security and Medicare: $1,943
State income: $1,883

Total: $6,840
Salary: $36,516

That's not even counting the 4% excise tax we have in Hawaii.

So how do I get to be one of the 47% that conservatives claim pay no taxes? I think I heard it has to do with having children out of wedlock and being a deadbeat. Whatever it is, I need to figure it out because then I'd have zero debt and some nice savings!

Congratulations for constructing a most awesome straw man and attacking it in the very best third grade girl fight fashion.

The conservative claim is, and has always been, that 47% of people DON'T PAY FEDERAL INCOME TAX. You know, the tax that actually funds our federal government and much of our state and local government through grants. Transmuting it into "no taxes" of any kind is like a burglar claiming that he didn't steal your computer because he left you the cord.

 

[IHateMyJob2004]

You forgot sales tax and possibly tax on property.

 

[Londo_Jowo]

Why is state income tax allowed as an itemized deduction? That means states with income tax have some of their residents paying less federal income tax. It's unfair to the states without income tax...

I would rather pay a couple hundred more in federal taxes than pay several thousands in state income tax. Moving from Virginia to Texas was like getting a 4% raise due to the lack of state income tax.

 

[Throckmorton]

I would rather pay a couple hundred more in federal taxes than pay several thousands in state income tax. Moving from Virginia to Texas was like getting a 4% raise due to the lack of state income tax.

Yeah but it's unfair because the federal gov collects less from the states with income tax.

Spidey07 said people in other states can deduct sales tax... but how many do that?

 

[Londo_Jowo]

Yeah but it's unfair because the federal gov collects less from the states with income tax.

Spidey07 said people in other states can deduct sales tax... but how many do that?

When I itemized using HR Block tax software last year I was able to deduct a set amount for sales tax.

When it comes to state and local taxes, you can deduct either your sales tax or your income taxes, but not both. Most people pay more in income taxes and choose to deduct them. However, if you live in a state that doesn't have an income tax, you'll benefit from choosing to deduct the sales tax you paid.