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1939

(1,683 posts)

46. If you makes $80,000 a year

Reply to 2naSalit (Reply #45)

Sun Apr 17, 2016, 04:45 PM

Apr 2016

in salary plus maybe $2,000 a year in bank interest, and $4,000 a year in stock/mutual fund dividends, you are probably paying quarterly estimates (over and above your withholding) in order to break even. I believe that if you don't come to within 90% of tax owed, you have to pay a penalty for underpayment unless your payments were equal to the prior year (hen there is no penalty, you just owe the extra on April 15 plus your first quarterly estimated payment for the following year).

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Who here among us paid MORE than their FAIR share of taxes. If so, HOW much more? [View all] Hiraeth Apr 2016 OP

We get stuck paying thousands every year when a large Corp pays nothing. It's the height of bullshit onecaliberal Apr 2016 #1

One has to HAVE money in order to HIDE said money. Me, I have none and owe more! Hiraeth Apr 2016 #2

It's like me, we adjust our withholding but it never helps. We will be paying the IRS in perpetuity onecaliberal Apr 2016 #16

Itemized Deduction vs Standard Deduction... mwooldri Apr 2016 #3

I am not sure but, I gather from GD-P that Bernie did NOT pay his. Hiraeth Apr 2016 #4

his tax rate is lower than mine Skittles Apr 2016 #14

did you pay more than your fair share? Hiraeth Apr 2016 #17

I am single and do not own a home Skittles Apr 2016 #19

on my but, you ARE a special piece of candy. Hiraeth Apr 2016 #20

LOL Skittles Apr 2016 #21

toodles, poodles. Hiraeth Apr 2016 #22

Hmmm 2naSalit Apr 2016 #5

so then, they are making sure you ONLY pay your FAIR share and NO more, right? Hiraeth Apr 2016 #6

Doesn't quite work that way... 2naSalit Apr 2016 #12

what are you claiming? zero deductions? Hiraeth Apr 2016 #18

1040EZ 2naSalit Apr 2016 #23

I'm a truck driver and I use the 1040 A HERETIC I AM Apr 2016 #32

I used to be a road warrior too 2naSalit Apr 2016 #39

Payroll Deductions 1939 Apr 2016 #30

That's true Yupster Apr 2016 #35

I simply accept 2naSalit Apr 2016 #36

High wage earners and dividend/interst recipients not just businesses 1939 Apr 2016 #43

Ah. 2naSalit Apr 2016 #45

If you makes $80,000 a year 1939 Apr 2016 #46

It's not just about taxes though... Kalidurga Apr 2016 #7

so true. but TAXES. Kalidurga. Hiraeth Apr 2016 #8

I explained it so even my SO gets it he hates hates hates taxes... Kalidurga Apr 2016 #11

TAXES! 2naSalit Apr 2016 #24

Tax the rich. Feed the poor. (n/t) Iggo Apr 2016 #9

I think the politicians like DWS who support our policies of putting pot smokers in prison Warren DeMontague Apr 2016 #10

I would be more inclined to 2naSalit Apr 2016 #13

agree with that. Hiraeth Apr 2016 #26

Well, it doesn't SickOfTheOnePct Apr 2016 #31

Gee thanks... 2naSalit Apr 2016 #37

I don't disagree that military spending is too high SickOfTheOnePct Apr 2016 #40

When you figure in 2naSalit Apr 2016 #42

There are legitimate deductions that are more likely to trigger an audit Fumesucker Apr 2016 #15

Thousands of dollars more. Don't really want to guestimate. Ms. Toad Apr 2016 #25

Now, that is Not Fair. Hiraeth Apr 2016 #27

Tell me about it. Ms. Toad Apr 2016 #29

I paid exactly my fair share Travis_0004 Apr 2016 #28

Me too lancer78 Apr 2016 #38

A much higher proportion of our Social Security was taxed this year. mnhtnbb Apr 2016 #33

I paid less than my fair share. dawg Apr 2016 #34

Isn't this a moral issue? So Far From Heaven Apr 2016 #41

What is a "fair share?" Adrahil Apr 2016 #44