Avian Gamers Network

OK clearly I have been a freelancer for far to long. At my current job I get taxes taken out and I got my check today and taxes where 28% of my check this seems insane!

For those who have 'normal jobs' is this normal? my federal taxes where, well insane. Maybe this is just me not used to having taxes out of my check and not 1099s like Im so used to.

I claim 1 person and Im single on my W2.

Thanks,

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Moge

i dunno ss takes at least $20+ outta every check this summer so far...plus federal and state it is terrible.

(im working at a theater this summer before going back to school)

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Ryric Krael
Former Vice President AGN
Former Director, Section 6
Former Head of Department of the Treasury
-------
Ask not what your PA can do for you, but what you can do for your PA
"Gone Section Five"

well all I know is I worked 8 days in the last 14 and I just gave 2.3 of those days to Uncle Reach-Around

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Moge

its terrible...

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Ryric Krael
Former Vice President AGN
Former Director, Section 6
Former Head of Department of the Treasury
-------
Ask not what your PA can do for you, but what you can do for your PA
"Gone Section Five"

I am not too up to speed on US federal or state tax percentages but that 28% figure you noted is fairly comparable to the rates we have here in Canada.

We use a tiered tax system with percentages ranging from 16% to 29% federally (depending on what income bracket one falls into) and then another 10%ish for provincial taxes. Your 28% tax withholdings sounds normal to me.

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"I built me a bomb and dropped it on every MFer who got in my way!"

I guess what it killing me is that with my new job I have a substantial pay increase so much so that that 28% that was taken out is just under what I would have expected to make each -month- before this job!

So when I see that number gone I am stunned.

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Moge

I always figure that with Fed, State, SS, and that other one... you can count on 25% to 35% being taken out of your check. Most of the time it is closer to 20% to 25%, but anytime I have to do tax math planning, I think pessimistic.

Most of the time I fall in the trap of thinking about my Fed bracket. My weakness is that I forget that the other 3 end out taking a sizable chuck when it is all said and done.

Yep, sorry to say you're right in the zone...

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Liro
"The english language is not a wedding gown, it doesn't get better the more lace you add. It is instead a thong. Less is more." From /.
I need to remind myself of this regularly.

38ish % is even more fun.

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--The Hermit

ROFLMAO welcome to the real world. I've been at about 28-32% percent for years now.

So yes it's right and yes you are getting screwed like the rest of us.

Yup I get about 25-27% taken out each check

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Section 6

Well I guess all I can say is wow! For nearly 10 years now I have been an independent contractor and only get 1099s with very few W2s each year.

The beauty of 1099s at the end of the year is I can deduct 1 dollar for every dollar I earn, with a W2 I think you can maybe deduct 40-50 cents.

Thanks for the confirmation everyone at leats I now know it isn't just me who is getting the gov-grab-ass.

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Moge

Hup in greenland the taxes are 42%
But then you got free police, free firefighters, free ambulances, free hospital, free medicine, free school, free high school/college, free university, free study in foreigh countries if your grades are good and there is a good reason for it and you stay in Greenland for atleast five-ten years after finished education. Get paid at college and university so you don't need to work (at least 700 US$ dollars a month for those who live at hteir own, half for those who live at parents)

In Denmark as far as I know from 50% to 60% taxes, but I have only been here for a week and still jobless.

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1st Feb 2008

Sounds about right! I say bye bye to about 30% of each check. But I always get a tax refund when its tax season. That, coupled with the nice bonuses of mortgages and property taxes, that usually means I get at least one nice toy at the beginning of every year

And remember to donate to charities too. I donate a "couch" every year since you don't need a receipt for that amount. But yes, I do have legitimate charitable deductions too. Which reminds me... time to get a new membership to the Humane Society.

I don't pay tax, I don't earn enough!!

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X2-PB

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AntanKarmola on their forums

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Antare Karmola - Jedi Guardian (32)
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in the US even if you don't earn over the single income bracket of 7000 (or some such) you still get state and social security and such taken out...just feds you don't have to pay

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Ryric Krael
Former Vice President AGN
Former Director, Section 6
Former Head of Department of the Treasury
-------
Ask not what your PA can do for you, but what you can do for your PA
"Gone Section Five"

Anyone else in sales? 42% on all bonuses or commissions, at the least.

I won't get too political but it's my belief that our founding fathers are rolling in the grave as we speak.

/points and laughs at all the people who still vote for taxes!

Vote Libertarian Party. Taxation is slavery. Enough is enough.

www.lp.org

/runs before Obo shoots.

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"Perhaps the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defence of custom. But the tumult soon subsides." - Thomas Paine, Common Sense

Whoa Talon Buddy. I hope you don't believe what you just said.

There are many public goods supported by taxation. In fact economics proves that society is advanced through taxation and spending on items that normal market forces either cannot charge for, or are deemed too risky.

Now I can support an argument about the relative level of taxation......


/political meter is rising

/thread to be shut down in 3....2...

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Dr. Golga Bolg
SWTOR - Golga
Rift - Gnarlwood: Golgar Golgantua Golgate - Retired
WoW - Dalaran: Bolg Golga Virrok All Retired
SWG - Golga Bolg - Doctor (Resident) Retired
Eve - Edge Finn - Limbo
Section 2 - (Former) Director
What am I playing now?: The waiting game

I won't speak for Talon (though I too vote LP), but I would say there are way too many public goods supported by taxation.

Here here!

A question: If theft is defined as forcefully taking what is not your property, and theft is made illegal by the government, how is it then legal for the government to do just that?

EDIT: ARGGGGG! /spots Obo tinkering with my posts!

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"Perhaps the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defence of custom. But the tumult soon subsides." - Thomas Paine, Common Sense

what??? me??? I don't did do nuthn to your post.

Those who argue for a taxless society don't appreciate what those taxes bring them. Plain and simple.

Now, are taxes out of hand? Sure, government spending is out of hand, and therefore we get taxed to much.

There are numerous things I think we could cut and restructure to decrease the tax burdon, but thats another matter.

In answer to the post, the typical middle class wage earner pays 33% of their income to "Taxes"...

Welcome to the battle to support those who refuse to support themselves.

Also, I HIGHLY reccomend not relying on ANY government retirement benefits. When those of us in our 20's and 30's reach retirement age, there isn't going to be any Social Security. Start funding those 401's and Roths NOW !!!

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SW:TOR - Mantison Gunslinger, Ironmant Trooper, Manni Jedi Knight
WoW - Dalaran - Manni 85 Mage, Ironmant 83 Warrior, Mantison 80 Hunter
SWG - Chilastra Retired Mantison, Commando / TKA Master aka Trogdor !!!!

Before SS 100% of Americans expected themselves to provide something for their own retirement. People saved, people educated themselves to get the most out of their dollar. They were frugal.

Today after SS 75% of Americans expect someone else to provide for their retirement... and most of that 75% are not doing enough saving of their own. Most of that 75% are ignorant as to who will be providing their retirement, they just assume someone will. This 75% is more likely to have low credit scores, more likely to take the easy way out through bankruptcy. A large chuck of that 75% are more likely to have $50-$100 cell phone plans, spinner rims, acrylic nails, home theater systems, yet be on food stamps, and/or welfare, and likely to be unemployed.

This post is not here to preach. It is just to show what handouts do. People need to be more accountable for their own actions. They need to know how to save. Social programs, while honorable, promote externalism rather than internalism. Externalist blame their problems on luck or others rather than look at their own actions for the source of their woes. Lack of internalism effects a person much deeper than responsibility, it effects their self worth, their dreams visions and goals.

It is noble to help fellow man, however a balance must be reached for their own good. We should be increasing peoples self worth, we should be increasing their responsibility. That is why your parents paid for all your stuff when you were young, but now they make you foot the bill for your choices. At some time you have to grow up and take responsibility. If they paid for everything, most people would be social moochers for the rest of their lives.

We are creating social moochers. Generations of people who lack the ability to sacrifice, make hard financial choices. All they know is how to hold their hand out, and worse than that, have no desire to learn details of what makes that handout possible.

The real mind binder is the fact that law is about stability. Not ethics, not morals. That is why there seems to be an exception to every law. There are laws that counter or supersede other laws. Nine times out of ten the law is moral, or ethical, but it does not have to be. If you understand that it is about maintaining stability, you can better understand why they can do some backwards things.

Not only does it not have to be, it SHOULDN'T be. The founding fathers of this country understood that the purpose of the law and government was to protect the freedoms of their citizens - freedoms that were not granted by that same government, but instead are "self-evident."

Any federal law that goes above and beyond protecting the freedoms of a citizen, is unconstitutional, in my opinion.

It's not the function, right, or even responsibility of government to make anybody's life easier, better, or more equal to the next guy's.

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"Perhaps the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defence of custom. But the tumult soon subsides." - Thomas Paine, Common Sense

I'd like to comment, but I fear my message board freedoms may be curtailed if I do.

Suffice to say I think Cyrus has a valid point, and I think Talon is taking his views too far.

/hey, how about them knicks

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Dr. Golga Bolg
SWTOR - Golga
Rift - Gnarlwood: Golgar Golgantua Golgate - Retired
WoW - Dalaran: Bolg Golga Virrok All Retired
SWG - Golga Bolg - Doctor (Resident) Retired
Eve - Edge Finn - Limbo
Section 2 - (Former) Director
What am I playing now?: The waiting game

We really need a politics/religion board in here.

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"Perhaps the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defence of custom. But the tumult soon subsides." - Thomas Paine, Common Sense

An asbestos-lined one in the member's section.

Edward

On a related note, I got some good and bad tax news yesterday. Property reappraisals. I got my letter from the County Auditor's Office and much to my surprise and glee, my newest appraisal increased my homes value by $30,000! Yay for that! But now that means higher property taxes. I bought the house (my first one) as an investment to either sell in a couple more years or keep and rent out. Time to kick into gear for house number 2 which will be a rental property. I don't have any problems paying those taxes as my little suburb I live in has fantastic city services, clean streets, active arts and cultural festivals, and good schools for the kids.

Arrgh! Another Trump enters the housing market. I'm so far behind... I've been planning on moving to the San Fran area in a year... but that market is Crazy. We're thinking of a $700k house, but that'd be a tiny one. I might just live in Sacremento and then drive 2 hours each way just to afford something decent.

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--The Hermit

It's addictive. I catch myself daily looking at the MLS Realtor site checking out other properties in my neighborhood. I bought what is far from my dream house. I went in with the "this is a commodity" mindset. I plan on living in this house while I buy a couple more. Eventually, I'd like to rent them all and either build or buy my "home". I bought in an older subdivision in this town simply because it now bumps up against homes in the $300k-$1mil+ range. In this part of the country, these are high end homes. Needless to say, my little subdivision is seeing an influx of younger buyers and retirees investing a lot of time and money fixing up and updating the older homes. I've still got some riff raff, but that's what the zoning office is for. These houses are simply too affordable to pass up and a $30,000 increase in value in under 2 years is better than any 401k or IRA I've got right now. Granted, it's some work, and MMO's get in the way. I've gutted my kitchen, knocked down walls, replaced showers etc. But it's mine.

/clears throat.

Uh... just as a reminder, I'm a mortgage loan officer and can do mortgages just about anywhere. And I'm now President of Avian. .... I'm just sayin.

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"Perhaps the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defence of custom. But the tumult soon subsides." - Thomas Paine, Common Sense

You're a morgage loan officer?!! Excellent... VP discounts? Seriously, we're going to need to talk in about 9 months.

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--The Hermit

We WILL talk then. I'm looking at refinancing my current house

Sounds good. I specialize in investments, new constructions, and I do a LOT of business in VA.

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"Perhaps the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defence of custom. But the tumult soon subsides." - Thomas Paine, Common Sense

Since when did this thread become about soliciting business?

Golga....for all your Investment Banking needs

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Dr. Golga Bolg
SWTOR - Golga
Rift - Gnarlwood: Golgar Golgantua Golgate - Retired
WoW - Dalaran: Bolg Golga Virrok All Retired
SWG - Golga Bolg - Doctor (Resident) Retired
Eve - Edge Finn - Limbo
Section 2 - (Former) Director
What am I playing now?: The waiting game

42% to Federal, SS, and State...

1% to Local

I own a home and pay about $7,000 a year in 'property taxes'... and then another 6% in sales tax...

I pay more in taxes than I MADE in my first 2 jobs...

But... just think of all the streets and lampposts and drug-free zones those taxes have sponsored.

Note: Let's not let this thread devolve into a death vs. taxes vs. freedom debate

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--The Hermit

Hey, my taxes really paid off for me today!

A tree cracked and toppled in the storm last night (no big loss, a nasty gum tree; the kind that drops those spiky balls that launch like golf balls from your mower) and lo and behold before I could get out there to play lumberjack (the song was already going through my head), a truck from the city showed up. They cut up and removed all of the tree that was in the street and sidewalk and left everything else for me to deal with. Granted, I'd have preferred to keep my lazy arse inside where it's cool but having to do just that much less work was quite nice. Besides, it's always at least a little fun to play with a chainsaw.

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Liro
"The english language is not a wedding gown, it doesn't get better the more lace you add. It is instead a thong. Less is more." From /.
I need to remind myself of this regularly.