Taxes

GubNi said:
Not if enough of us revolt! The end of this year would be a great time to do it. :lol:
You know Maryland was part of the south last time we tried.
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I have seen a lot of parodies today about the SOPA blackout. Something to the effect of the governemtn can unjustly tax us and we are OK with it; the governement can bankrupt our kids and we are OK with it, the governement can strip us of our rights and we are OK with it; but if the government messes with the Internet they have gone too far :D
 
trailhugger said:
I may be the only person left who actually does taxes long-hand, on paper, and mails them in. :lol: Ours aren't simple, but I don't find it to be all that difficult.
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I have never done mine with tax software. 15 years and counting, through mortgages and credits and etc. One day, maybe, but I find it too easy to do to pay money to save 20 mins.
 
RatLabGuy said:
While this is true - in practicality it doesn't matter.
Lets pretend you put that money into a savings acct. Ok 2-3%? 5% max? Unless you go high risk investment you're not going to get much more than that.
Now do the math on how much $ you'd actually make, considering that you're only accumulating $$ over the year; Jan 1 it is a very small amount in your pot.
The total amount you "could make with that money" is trivial, unless you are in a really high income bracket, especially compared to the penalty fees if you owe too much.
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Well Dave, it depends. You are assuming a household with a budget surplus. Play devil's advocate and go average American who spends very penny each week. Now he has an "emergency" and runs up a credit card at what 20-25% (again average Amerrican has "below average" credit)...If he had the extra money he would be saivng 25% interest.

RenegadeT said:
Its the priniple that counts. I'd rather pay a bill at the end of the year, than have the IRS take and hold my hard earned cash each paycheck, only to give back what I overpaid at the end of the year. A "trivial amount" saved is a "trivial amount" earned...better than nothing.
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Bingo.
But I screwed up this year. I pay and fairly substantially every year. Did the taxes this weekend. I will write a check to the federal goernment for more than my non adjusted gross the first year we were married. My effective tax rate for the year exceeds 40% because of some dumb money moves on my part regarding a real estate transaction and some investment moves.

Sometims you have to slow down and pay attention, lesson learned here.
 
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