Well, how much?

12/17/2014 11:52:28 AM

You mean federal income tax, or ALL THE TAXES??

12/17/2014 11:53:28 AM

inb4 "none"

I'm Krallum and I approved this message.

12/17/2014 12:00:34 PM

income tax - federal and state

12/17/2014 12:42:08 PM

You go first.

12/17/2014 12:48:59 PM

I don't get these threads. Is it another 'who's penis is bigger than the next' and an opportunity to humble brag?

12/17/2014 1:40:54 PM

i'm paying like so much in taxes brah, i make so much money

12/17/2014 1:45:02 PM

too damn much

12/17/2014 1:46:13 PM

Percentages are kind of what I thought people would post but with the same rationale that CarZin said

12/17/2014 1:52:07 PM

12/17/2014 2:51:33 PM

all the taxes

12/17/2014 3:06:44 PM

bout tree fiddy.

12/17/2014 3:32:46 PM

Too early. Do this thread in March when people have started filing.

12/17/2014 9:28:59 PM

Shit man, I'm easily paying for my very own public school teacher this year.

12/18/2014 1:30:57 AM

thank you

12/18/2014 7:07:57 AM

I think I'm paying for 2 teachers...

12/18/2014 8:53:46 AM

I bought my first house this summer, and I have heard I could probably expect a significant tax return this year...can anyone give me any more detail on this?

12/18/2014 9:53:24 AM

^^THANK YOU

12/18/2014 8:02:21 PM

i'm interested to hear about how you came to the calculation that you are paying for a teacher

are you opting in to some sort of program where 100% of your taxes - both federal and state - are going towards teacher salaries?

12/18/2014 8:41:04 PM

none of y'all mother fuckers are paying my damn teacher's salary...

12/18/2014 8:47:41 PM

LOOK AT ME AND INFER HOW MUCH MONEY I MAKE

12/18/2014 8:58:57 PM

I figure the average starting teacher makes $33K/year. If all my taxes went towards teachers salaries, I'd be paying for 2 this year

12/18/2014 8:59:10 PM

let me just say a fuckton more than I want to be paying.

12/20/2014 12:10:38 PM

https://www.govtrack.us/congress/bills/113/hr5771 this helps significantly - sucks they didn't approve the america gives more act permanently but i'll take a 1 year extension

12/20/2014 1:48:09 PM

obligatory http://fairtax.org

12/20/2014 1:59:31 PM

years ago I worked with a fucker that constantly bitched about how much of his money was going to taxes

then it slipped out that he had a negative tax liability

12/20/2014 2:03:18 PM

I'm not going to pay nearly enough, considering how often I drive on roads and take advantage of the National Park and National Forest system

12/20/2014 2:32:28 PM

You can always volunteer to pay more.

I'll be paying in the ballpark of 40k this year.

12/20/2014 3:10:08 PM

that's not bad, it's still less than what you waste on your nissan

12/20/2014 3:31:56 PM

hahahaha

12/20/2014 6:14:37 PM

Quote :

"You can always volunteer to pay more. "

This.

It's not so much that I pay a lot in taxes, it's more that I have pretty much zero in credits or deductions that I can claim. Most of you fuckers probably shat out a kid or two and own a home so most of what you pay in you'll get right back. I'll be lucky if I get any refund this year. I'll be moderately surprised if I don't end up owing again this year.

12/21/2014 5:57:29 PM

It's always too much for me.

12/21/2014 7:27:47 PM

Quote :

"so most of what you pay in you'll get right back."

The Derp is strong with this one.

12/21/2014 9:09:23 PM

have no idea what to expect, last year I ended up getting like $25 back from federal and owed the state a little bit

12/21/2014 9:27:37 PM

^^In what way?

Close to half of all people filing pay zero in income tax or pay a net negative, the next 20% or so pay about 3% effective rate. A lot of that has to do with ability to claim exemptions and deductions, 2 of the largest being child credits and mortgage interest deductions. So yeah, most people get most of their income tax refunded back to them.

12/21/2014 9:39:22 PM

Quote :

"Close to half of all people filing pay zero in income tax or pay a net negative"

Quote :

"So yeah, most people get most of their income tax refunded back to them."

Sure, but that's not what you claimed.

Quote :

"Most of you fuckers probably shat out a kid or two and own a home so most of what you pay in you'll get right back. I'll be lucky if I get any refund this year"

It's not the people who own houses and have kids that pay $0 in federal income taxes. It's the poor and the old, if you wanna paint with a broad brush.

12/21/2014 9:42:30 PM

Quote :

"It's not the people who own houses and have kids that pay $0 in federal income taxes. It's the poor and the old, if you wanna paint with a broad brush."

That's a lot of them, sure, but It's actually pretty much everyone below $75k.

Joe citizen who owns a home and has a couple of kids pays nearly zero income tax when it's all said and done. So yes, whatever income tax is collected from them is usually refunded to them. If you earn the average 40-50k you'll pay next to nothing, usually as a result of credits and deductions claimed at the end of the year causing you to be issued a refund.

12/21/2014 10:05:59 PM

I'd wager a guess that $40-$50k is far below the average household income on this site, especially among those who own a home and have kids.

Quote :

"Joe citizen who owns a home and has a couple of kids pays nearly zero income tax when it's all said and done. "

There goes your derp again!

12/21/2014 10:23:19 PM

house plus 5 kids here


though I also got bumped up to a better paid position the last 4 months of the year, at least temporarily. The tax man is loving these overtime weeks. Had a 28 hours of double time week last week. Helps pay bills, hurts sanity and sleep schedule.

12/22/2014 9:32:09 AM

$Texas

$Taxes

12/22/2014 9:38:56 AM

in all seriousness, we need to get rid of the mortgage interest deduction

12/22/2014 9:50:28 AM

^ take your soap box someplace else.

12/22/2014 10:41:51 AM

^^ The first time I heard someone say that I derpfaced the shit out of them.

but as much as I would personally hate it, I have to admit it's likely the sensible thing to do.

http://www.npr.org/blogs/money/2012/10/18/163106924/a-tax-plan-that-economists-love-and-politicians-hate

Quote :

"But to an economist, a tax break is the same as the government writing you a check. "It just makes no sense that if we have Bill Gates or some very wealthy person, we're subsidizing them to get a very expensive home," said Dean Baker, of the Center for Economic and Policy Research. "So because rich people receive a larger subsidy, the price of houses increases so much it actually makes it less affordable for the poorer people," said Luigi Zingales, of the University of Chicago Booth School of Business."

Other than making homes more affordable, the other key side effect of phasing out the mortgage interest tax deduction is the stability of prices-- it would make it harder for housing bubbles to occur.

That said, I doubt any administration in the foreseeable future would stick their neck out for something like this. So for now, it's just an interesting academic exercise.

Quote :

"I don't get these threads. Is it another 'who's penis is bigger than the next' and an opportunity to humble brag?"

Yes, that's exactly what this is. Douche Bag has probably the most appropriate username on TWW. He loves bragging about his income. He's gotta be a lot of fun at parties.



[Edited on December 22, 2014 at 10:47 AM. Reason : .]

12/22/2014 10:44:45 AM

In 2013 my federal effective rate was around 16% with another 3.5% or so state tax.

I'm hoping that with our first full year of mortgage interest payments, plus our little tax deduction that came into this world last month, that our rate dips a bit. But not to 0% (lol to that)

12/22/2014 8:16:17 PM

Ours has been between 9-13% to da Fed for the past 5 years. State, so low, who gives a shit. Our combined incomes is about 150k.

[Edited on December 22, 2014 at 8:36 PM. Reason : .]

12/22/2014 8:36:06 PM

Is like to know how yours is so low. That or visit you in jail.

12/22/2014 9:24:44 PM

Fed owes me $6 state i owe $324

12/23/2014 1:42:24 PM

I always owe as I'm a 1099 independent contractor. Get extra screwed by paying employers share of FICA

12/23/2014 2:06:07 PM

Oh I guess my figure didn't include FICA. Tack on another 7.5% or whatever it is.

12/23/2014 2:11:41 PM

Quote :

"Is like to know how yours is so low. That or visit you in jail."

Mortgage deduction, ira, insurance, charitable donations

12/23/2014 6:25:37 PM