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Taxes

Discussion in 'BBS Hangout' started by Air Langhi, Feb 20, 2007.

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  1. Air Langhi

    Air Langhi Contributing Member

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    I just started looking at doing my taxes and I just realized I am paying almost 33% (25% on federal income tax + 8% (SS + Medicare)). That was just shocking to me the since the first time I had to "really" do them.
     
    #1 Air Langhi, Feb 20, 2007
  2. A-Train

    A-Train Member

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    In other news, the Earth is round, the sun rises in the East, and Vasilis Spanoulis still stucks...
     
    #2 A-Train, Feb 20, 2007
  3. bobrek

    bobrek Politics belong in the D & D

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    Are you talking about on a paycheck basis or is that what you end up paying after doing your taxes and receiving a refund?

    If that is after you have completed your tax filing, then you need some deductions.
     
    #3 bobrek, Feb 20, 2007
  4. Air Langhi

    Air Langhi Contributing Member

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    This is the first time I had to "really" do taxes I never knew that taxes were so much. I guess it is shock just like other stickers shocks you encounter in life.
     
    #4 Air Langhi, Feb 20, 2007
  5. Wangdoodle

    Wangdoodle Member

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    As it turns out, taxation with representation isn't so great either.
     
    #5 Wangdoodle, Feb 20, 2007
  6. Davidoff

    Davidoff Member

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    It's nice to make a few quarters on the dollar isnt it??
     
    #6 Davidoff, Feb 20, 2007
  7. DFWRocket

    DFWRocket Member

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    Single Person

    Taxable income is The tax% is
    $0 $0
    7,300 15%
    29,700 25%
    71,950 28%
    150,150 33%
    326,450 35%
     
    #7 DFWRocket, Feb 20, 2007
  8. RocketMan Tex

    RocketMan Tex Member

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    Air Langhi....this is another reason why I am glad my taxes are complicated enough so that I have to pay someone else to do them. I just don't want to know, because if I did, I might get very very upset! :eek:
     
    #8 RocketMan Tex, Feb 20, 2007
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