Tax Woes Rant Post v1.0

All told, most of the CG team has to pay $10K+ out of pocket thanks to foolish freelancing planning. This post is for you to bitch about your own tax woes or to rub in your proper planning and rebates. Feel free to try to make me cry.

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15 Comments so far

 
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Nate (Who am I?)

Nothing to bitch about here. I’m getting my largest return ever this year.

It’s Christmas in April for me.

 
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John Biggs (Who am I?)

you suck

 
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Nate (Who am I?)

If sucking means that I have to accept a fat check, I’ll take sucking over not sucking.

Thank you. Thank you, very much.:)

 
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DonTX (Who am I?)

Are you paying SE Tax + Federal John?

 
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John Biggs (Who am I?)

yep

 
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Travis (Who am I?)

Almost $1800 in returns here and another $1200 coming in May with the Stimulus package. Not that I see any of that - my wife puts it in savings before I can spend it on cool stuff. Having a kid really helps with taxes and claiming zero ensures you never have to pay in come April 15th.

 
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Doug Smith (Who am I?)

IT’s not the taxes so much as Health Care Costs! I am getting Killed being self employed paying these F’n premiums and high @$$ deductables! Screw the health care industry! I think for the first time ever that the Health Care industry is more evil than our government!

 
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The Red Monkey (Who am I?)

What really pisses me off is that I owe $600 bucks and the lame tax stimulus check I am getting is going to be $600. Can we just call it even instead of trading checks?

This is after the bastards take 37% (state and local) of my check every month.

 
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Paul (Who am I?)

I bought a house in 2007, which meant selling off my nest egg of stock for the downpayment. Naturally I expected a substantial tax bill, but AMT?!! (That’s Alternative Minimum Tax, for those lucky enough not to know.) Come on! Of course, I’m also not getting the tax rebate check.

Now, shouldn’t I be REWARDED for buying a house in a down economy, thereby bolstering the floundering real estate market? AMT was introduced in the 70’s, and the limits have not kept up with inflation. It’s stupid, stupid, stupid.

One last rant: why the hell are property taxes due the same time as income tax (in California)?!

 
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Yannick Desjardins (Who am I?)

I am so pissed, I only get 3000$ back this year.

 
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ryan (Who am I?)

I like to say you haven’t lived until you have had the IRS levy your bank accounts, garnish your wages and put a lien on your house.

The IRS is amazing powerful and if you don’t pay them, they will take it.

$10K+? yeah, thats about right, give or take a couple Ks.

 
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Dave (Who am I?)

Import and VAT piss me off so much

 
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Paul G (Who am I?)

AMT was supposed to be a tax on the super wealthy. Consider it cost like $8000 to buy a top of the line Cadillac in 1970 - today that’s like $56K or 7X. (Numbers for illustrative purposes) So if AMT kicks in at 150K, shouldn’t it really be doing so at close to $1M.

But I guess no one cares to fix this because the war machine needs to keep rolling. Let’s not all forget about the other casualty of this Iraq war - the American people. Note: We’re all still paying taxes ridiculous taxes to fund the Spanish American War on our phone bill. Enough already.

I agree that new home buyers should be getting a significant break - especially that we’ve probably pissed away our futures in buying during this time.

 
Jenn

Did you pay estimated taxes throughout the year? If so and you STILL owe $10K+, then that’s insane.

 
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drdrew (Who am I?)

Feel free to try to make me cry.

you suck. nobody loves you. you stink. baby jebus laughs at you. loser.

oh yeah, I almost forgot…4K+ coming back (little low this year)…

john can now haz tissu pleze?

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