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re: My son texting me after doing his taxes, maybe I’m a cynic?
Posted on 2/17/23 at 10:43 am to BamaScoop
Posted on 2/17/23 at 10:43 am to BamaScoop
quote:
That’s why ever American citizen needs to only agree to work as a 1099 employee!
Why so your pay your employers share of taxes as well? Only way you should do 1099 is if you are a business owner and can reap the tax benefits of business expenses
1
Posted on 2/17/23 at 10:44 am to Penrod
quote:
Until you break through to big money. After that your taxes go way down.
Lay that out for us "genus".
Posted on 2/17/23 at 10:45 am to Penrod
Maybe it’s just me but…I’ve never used the word ‘hyperbole’ in any conversation with my son.
Posted on 2/17/23 at 10:49 am to Sev09
quote:
That’s the same victim mentality we abhor on the left, yes? And it’s not true, either.
Tax code rewards those that can weasel their way around life. It does not reward an honest worker simply living life. It's the same story for navigating courts and lawyer speak if you get tangled up in that society.
This post was edited on 2/17/23 at 10:51 am
Posted on 2/17/23 at 10:51 am to Padme
quote:
son: So essentially I’m not making more money cuz they only took 4K when I made 44k but made 68 k and they keeping 15k
If your son paid $15k in federal income tax on $68k salary, he fricked his taxes way up.
Posted on 2/17/23 at 10:56 am to Penrod
quote:
Until you break through to big money. After that your taxes go way down.
right on, comrade!
Posted on 2/17/23 at 11:03 am to Padme
Your son is bad at math and should get someone else to do his taxes
Posted on 2/17/23 at 11:08 am to TerryDawg03
Yep. I have 2 Schedule C's in addition to my 1040 and they are the only thing keeping me tax neutral.
Posted on 2/17/23 at 11:13 am to Padme
Rough calculation (fed, social security, Medicare, but no state tax) says he was bringing home 2800 a month at 44k a year and is bringing home 4150 a month at 68k a year.
Posted on 2/17/23 at 11:13 am to OGTiger
So you keep things at a real simplistic level? Cool
Posted on 2/17/23 at 11:14 am to Padme
quote:Something is screwy with this.
So essentially I’m not making more money cuz they only took 4K when I made 44k but made 68 k and they keeping 15k
Posted on 2/17/23 at 11:25 am to BamaScoop
quote:You are not an employee if you are a 1099. Are you going to compensate for not paying employer's half SS, Medicare, etc.? If not, you are going to have trouble getting anyone to work for you (as an independent contractor).
work as a 1099 employee!
Posted on 2/17/23 at 11:27 am to BamaScoop
quote:
That’s why ever American citizen needs to only agree to work as a 1099 employee!
Most working people do not have a choice in that. It's against existing tax law. And most working people do not realize that they would be paying 100% of their SS and Medicare premiums as a 1099 employee. However...they could deduct expenses against income as a 1099 employee. Advantages and disadvantages to both W2 and 1099 workers.
Posted on 2/17/23 at 11:31 am to Padme
Tell him to save some money and let him know how a 401k works. Tell him about alternatives if his employer doesn't have one or how to find a new employer.
Pray the govt doesn't frick it up.
Pray the govt doesn't frick it up.
Posted on 2/17/23 at 11:36 am to rhar61
Be sure to let him figure out when he has worked enough days in 2023 to cover the federal taxes for the year. The average is 46 working days.
Posted on 2/17/23 at 11:51 am to Padme
How long before the college kids figure out when they say that everything should be free, that when they grow up and get in the work force they find who pays for free.
Posted on 2/17/23 at 11:56 am to Padme
Myself I don't even mind that much that I'm paying thousands of dollars a year in taxes and still have to send a little more this time of year, I don't like it but I can live with it. What bothers me is getting called names by the mother frickers who aren't paying any at all and/or getting a net positive. That's hard to take
Posted on 2/17/23 at 11:58 am to Padme
quote:The math on his given numbers is wrong and I think it's likely his given numbers are wrong to begin with.
son: So essentially I’m not making more money cuz they only took 4K when I made 44k but made 68 k and they keeping 15k
quote:What a fricking pussy. I can see where he gets it.
Dad: Yep you got it, that’s how they keep us down, the more you make, the more you strive to lift yourself, the more they penalize your success and try to dishearten you, and that is no hyperbole
quote:
and that is no hyperbole
Yeah, he'd HATE to be making $400K instead of $68K. Do you any of you ever stop to think just how fricked up you've become? You telling your son this stupid shite is no different than some over the top covid Karen teaching a 5 year old never to leave the house again.
This post was edited on 2/17/23 at 12:03 pm
Posted on 2/17/23 at 12:02 pm to Padme
quote:
My son texting me after doing his taxes, maybe I’m a cynic?
quote:
son: So essentially I’m not making more money cuz they only took 4K when I made 44k but made 68 k and they keeping 15k
You need to get with your "son" and get your story straight
Posted on 2/17/23 at 12:06 pm to Penrod
quote:
Until you break through to big money. After that your taxes go way down.
Wrong
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