Budget Buster ~ Taxes!

[LaurenLC]

You are stating that you qualify for $0 deductions including the dependent deduction for your daughter. As a US tax citizen you owe taxes on all income, including passive income from investments which by your stated calculation is over $100K in INCOME PER YEAR. If you are earning $100K in income then you must have $10 Million in investments. Sorry, but $10M in investment isn't middle class. I am sorry that you somehow believe that your invesmtent income should be tax exempt. If you don't like the US tax law, maybe move to a more tax friendly jurisdiction like a questionable country where you would pay for personal protection since you don't pay for public police, fire, etc..

Never mind... Not even worth it

 

[prncess674]

1) I pay my taxes, never said I didn't, and never said I wouldn't.
2) I don't presume to know anything or everything about everyone based on a message board.
3) I didn't ask for your help, nor do I appreciate your snarky attitude.

You are the one snarking about claiming 00 plus paying $300 month in additional taxes but yet fail to admit that you have millions in investments. If you are goinmg to cry poor, be honest. You are a WEALTHY individual with MILLIONS in investments, quit playing woe is me I am barely making it middle class. I am going to go out on a limb that your working profession income is relatively small in comparison to your investment income (MILLIONS!)and you believe that since your working income is small that your millions in investment income should somehow be taxed at some lower level.

You are just PO'd that someone called you out on your wealthy lifestyle. Millions in investments is not middle class considering most middle class are making a combined family income of ~$50K including investment income.

 

[Jeff_G]

You are stating that you qualify for $0 deductions including the dependent deduction for your daughter. As a US tax citizen you owe taxes on all income, including passive income from investments which by your stated calculation is over $100K in INCOME PER YEAR. If you are earning $100K in income then you must have $10 Million in investments. Sorry, but $10M in investment isn't middle class. I am sorry that you somehow believe that your invesmtent income should be tax exempt. If you don't like the US tax law, maybe move to a more tax friendly jurisdiction like a questionable country where you would pay for personal protection since you don't pay for public police, fire, etc..

Dude you misread her comment, Claiming 0 withholding deductions on your W4 is not the same as 0 filing deductions. Many people need to claim 0 withholding deductions and pay additional amounts, especially if you have second job or a spouse with a job. The withholding tables are calculated for one income and working all year.

 

[LaurenLC]

Dude you misread her comment, Claiming 0 withholding deductions on your W4 is not the same as 0 filing deductions. Many people need to claim 0 withholding deductions and pay additional amounts, especially if you have second job or a spouse with a job. The withholding tables are calculated for one income and working all year.

Thank you!

 

[prncess674]

Dude you misread her comment, Claiming 0 withholding deductions on your W4 is not the same as 0 filing deductions. Many people need to claim 0 withholding deductions and pay additional amounts, especially if you have second job or a spouse with a job. The withholding tables are calculated for one income and working all year.

The way LaurenLC is whining she makes it sound like she is paying more than the taxes owed on her income. As stated previously, she must have some investment income that requires tax payments. Don't cry woe is me, I am paying taxes. You are paying at the same percentage as everyone else who makes her own healthy income.

 

[JennG]

I'm sure that you were trying to be funny, but this kind of attitude REALLY irks me! My husband and I just had our taxes done on Saturday and we owe... A LOT! In 2010 we both claimed 0 on our W2, had an additional $75- $100 taken out of each check, contributed at least 15% to our 401Ks, had a baby and I lost my job in August.... I'm not exactly sure what more Uncle Sam wants from us! Don't get me wrong, we do okay, but we are far from rich! Every time I read a post about someone asking about owing on taxes someone else posts about how it must be sooooooo nice to be soooooo rich and it's NOT ALWAYS the case!

I'm in the same boat. Really don't understand HOW we could possibly owe when we have ALWAYS received a refund. How do you go from getting over $5k in refunds to OWING???