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  1. #1
    Sgt. Joe Friday frank3iii's Avatar
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    The forms all filled out, envelope addressed and stamped. All that is left to do is write the check and get it in the mail.

    Tax time always depresses me. I try to think of positive things about it, like the pundit that said 'be glad we don't get all the government we pay for'. Doesn't help much.

    This year I did a little test. Guess what. Married folks are getting HOSED! Not real news to most I suppose. The difference (for us) between married filing joint and filing both as single amounts to a little over 2 grand. That's a lot of beans in my podunk town.

    I wonder if the ACLU would press a suit for tax descrimination? Every other kind of descrimination is against the law.

    Thinking of single/married...I bet there are a whole bunch of homosexual couples out in CA that wish they hadn't tied the knot. When they do the forms about this time next year they'll be in for a shock.

    Oh well, time to check stats.

    Frank
    "Just the facts, Ma'am." Sgt. Joe Friday, Dragnet

  2. #2
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    "I wonder if the ACLU would press a suit for tax descrimination? Every other kind of descrimination is against the law."

    Did you just get married this year???

    You can't sue the IRS for tax descrimination. Only thing you can do is vote every Democrat out of Congress that supports marriage penalty.

    It's one of Bush's big initiatives to get rid of the marriage penalty and death tax.

  3. #3
    ABW Ambassador Jane's Avatar
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    Married people don't get hosed. It's just that single people get a break. Married people with 2 incomes only have to have one house, one toaster, etc etc. I have to pay for everything on one persons income. The reason why I have 2 jobs.

  4. #4
    Troll Killer and best Snooper!
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    This married couple is getting a nice refund.

    I don't mind at all paying a little extra for the privilege of being married to the greatest guy in the world. He's the best bargain I ever got.

  5. #5
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Married people with 2 incomes only have to have one house, one toaster, etc etc. I have to pay for everything on one persons income. <HR></BLOCKQUOTE>

    Why should the rest of us have to subsidize this? All other things being equal, it is less wasteful having multiple people under one roof.

  6. #6
    ABW Ambassador buy_online's Avatar
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    I am still fiddling with my Schedule "C" At least, I can come up with deductions that way through this Affiliate thing

    Fred

  7. #7
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    Yes married people pay more, although I think some of that was actually changed this year. Of course one advantage to being married, is that I do get 4 extra deductions for those wonderful kids I have..which in my case, if I wasn't married, I wouldn't have. Not to offend any single people with kids.

    Still fiddling with your schedule C? Lol..I am just glad to have that done. Not glad to have written those checks though. Oh well. In June, we'll be complaining again when it's estimate time, and in my case property tax time. Ugh.

    Robin

  8. #8
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    I just pray the wife has twins, that's 2 deductions, not 1. (/end sarcasm)

  9. #9
    Intergalactic Trader IGshop's Avatar
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    After my accountant got done, the taxes were better than I expected. What kills is the self-employment tax! I wouldn't mind so much if the money was going into a well-managed mutual fund with even a 10% return. But nooooooo. It's going into that black hole called "social security".

    I found out this year that the money I make from paying myself rent for my home office is exempt from self-employment taxes. Does anyone else know any other ways to exempt income from SE tax?

    Jim

  10. #10
    mega crap martyogelvie's Avatar
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    IamJaloppy,
    funny, my wife and I are having TWINs, due in August.. (a boy and a girl)
    I'm not sure the dedcuctions will offset the cost of diapers, formula, clothes, shoes, toys, more shoes, more clothes, FOOD, college.. oh NO, it hurts just to think about it!


  11. #11
    ABW Ambassador Packy's Avatar
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    Taxman came over today Took my stuff and got back to me a couple of hours later with the Taxes Definately a depressing day. Went right to the post office and sent them out. Gotta tell ya it really sucked

    I do look on the bright side that last year was good and I'll be happy with just making half. I was able to get caught up on bills and other things but it still sucked writing the 4 checks out today.

    Hey, Marty, congrats on the twins, Jalopy, congrats
    The Answer to the New York Tax Law - Repeal, REPEAL, REPEAL -

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  12. #12
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    Twins? Funny, I do have twins. LOL. And, lucky for me, they were born in the month of December (2000) so I was able to take that double deduction for 2000.

    Additionally, my last kid was born in the month of November and I also got to take advantage of the deduction, not to mention sacking away money in his 529plan for that year, which was also tax deductible (state taxes).

    We lowered our social security amount lowered by having me take all the deductions for the business. My husband already made above the limit for social security from his day job, so he wasn't going to have to pay any. Since I was, but still want to earn the credits, I took the deductions to lower my income.

    I'm not really sure on ways to lower the SE tax. Other than put money into a SEP IRA to lower your taxes altogether.

  13. #13
    Moderator MichaelColey's Avatar
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    Actually, putting money in an SEP IRA lowers your Federal Tax, but not your SE (Self Employment) Tax. I noticed that when I was looking over my forms today. The base number used to calculate the SE tax is taken straight from Schedule C.

    In any case, I still recommend an SEP IRA. They're simple. They lower your federal taxes. And you really don't want to count on Social Security being around when you retire (not that you could live on it, anyway).
    Michael Coley
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  14. #14
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    All i have to say is ouch, i just wrote a check for a brand new car

    Maybe next year i can write a check for 2

  15. #15
    Resident Genius and Staunch Capitalist Leader's Avatar
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    Dittos to what Trust said.
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  16. #16
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    You can minimize SE tax with a S-corp ...

    I paid almost 46% of my income totally in taxes even after using all the creative deductions ...it sucks to be in the highest tax bracket

  17. #17
    ABW Ambassador flamingoworld's Avatar
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    I did not make any quarterly payments last year, and owe nothing either! I came out with owing $0 tax for 2003!!!!!

    Of course my huge $20,000+ hospital bill last year kinda took care of that for me....Now have insurance so that won't happen again!

    And thanks to a few tax credits, I am even getting a money back from the state.

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