I HATE taxes!

**edgarr** · 09-29-2011, 06:15 PM

I mean I HATE them! Just did my 2010 and I am paying over $250k for the year combined in FED and State. What pisses me off the most here is all these people that are not paying any and are also not paying their mortgage yet still living in their homes.......for years! I have to pay for them to live. I know people are going to say "hey be happy you make that type of income". Not the point! Still sucks! And our great leader wants to raise them!! F that. I need to incorporate offshore or find some tax shelters.....any help?

Let the arguing begin!

**Shol'va** · 09-29-2011, 06:29 PM

Being poor sucks don't it? If you weren't poor you wouldn't be paying 250k in taxes, you wouldn't be paying taxes for all the loopholes. sucks being you and me

**spywizard** · 09-29-2011, 06:32 PM

you need to get a better accountant..

i'm still in support of spreading it around.. as in the 51% that do not pay any taxes.. they need to kick in..

**spoonta66** · 09-29-2011, 06:42 PM

The tax systems in USA and Australia are an absolute crock. There should be a compulsory income tax system where, regardless of how much you earn or deductions, everyone pays the same rate per dollar.

**terraj** · 09-29-2011, 07:17 PM

Originally Posted by edgarr

I mean I HATE them! Just did my 2010 and I am paying over $250k for the year combined in FED and State. What pisses me off the most here is all these people that are not paying any and are also not paying their mortgage yet still living in their homes.......for years! I have to pay for them to live. I know people are going to say "hey be happy you make that type of income". Not the point! Still sucks! And our great leader wants to raise them!! F that. I need to incorporate offshore or find some tax shelters.....any help?

Let the arguing begin!

I work as an independent contractor and claim everything. Is it possible for you to incorporate yourself?

BTW....I've got American mates working as expats....those poor bastards pay local taxes and taxes in the US, ouch

**Shol'va** · 09-29-2011, 07:50 PM

Originally Posted by spoonta66

The tax systems in USA and Australia are an absolute crock. There should be a compulsory income tax system where, regardless of how much you earn or deductions, everyone pays the same rate per dollar.

What? Everyone pay the same rate per dollar? Why, hold your tongue. That's just outright Un-Republican!

**spoonta66** · 09-29-2011, 08:07 PM

Call me a comunist but there is a reason why our smartest engineering minds are attracted to Se Asia to work. Same pay, and flat rate 15% tax across the board!

**edgarr** · 09-29-2011, 09:05 PM

I can't incorporate. I use to and it was great, deductions as an employer suck. Maybe buy a business but my current income still comes from a US corp so. Not sure what a better accountant would do for me. I believe even if I was employed by a foreign company I would still bring the income here so would pay US taxes.

**stevey_6t9** · 09-29-2011, 09:34 PM

Originally Posted by spoonta66

Call me a comunist but there is a reason why our smartest engineering minds are attracted to Se Asia to work. Same pay, and flat rate 15% tax across the board!

communist

**fattymcbutterpants** · 09-30-2011, 02:00 AM

If it bothers you that much we can swap jobs if your interested? Or you could pay me to help you do whatever and reduce your income from that lol? Jk though.... But seriously

**Hazard** · 09-30-2011, 01:17 PM

My heart pumps piss for you..... let me tell yah.....

Sure it sucks..... for you AND everyone else. Atleast you have the ability to pay those taxes...... there are whole famillies who have no place to live..... sometimes bad things happen to good people..... it sucks but the world keeps on turning. If it's that painful to cough up the money then find a new line of work or start becoming active in politics so you can TRY to make a difference.

~Haz~

**im83931** · 09-30-2011, 01:54 PM

I feel your pain man. A couple years ago I was being paid by the Ministry of Health in Canada and was double taxed.

**edgarr** · 09-30-2011, 02:51 PM

the world keeps turning because the rich keep paying high taxes.....

**bjpennnn** · 09-30-2011, 02:56 PM

death and taxes man

**Shol'va** · 09-30-2011, 03:02 PM

Some hate taxes some hate texas I guess it all evens out.....
And before anyone from texas crucifies me it was a joke.

**DCI** · 09-30-2011, 05:36 PM

Question what the does America do with all it's Taxes? I've never been to a country with so many social problems.

**bjpennnn** · 09-30-2011, 08:03 PM

we give our money to other countries derrrr!

**gixxerboy1** · 09-30-2011, 08:09 PM

Originally Posted by Shol'va

Some hate taxes some hate texas I guess it all evens out.....
And before anyone from texas crucifies me it was a joke.

ah they both suck

**Shol'va** · 09-30-2011, 08:12 PM

Originally Posted by bjpennnn

we give billions of our money to other countries so they will be our friends and promise not to hurt us. Just ask Pakistan derrrr!

Much Better.....

**bjpennnn** · 09-30-2011, 08:17 PM

LOL dude we are just to ****en civil about things. if we manned it up and did not **** around with these loser ass countries lying to us no one i repeat no one would **** with us...Could you imagine if we paratrooped all of the lifers/death row inmates in prison into the capitol of pakistan with ak-47s/rocket launchers and 1000kilos of dope and told them if they take over the city they can live freely lol. **** man the us needs to get more creative with this prison population that we have wasting away costing the tax payers billions of dollars, we arent ****en rehabilitating them. let them do what they do best. kill two birds with one stone.

**fattymcbutterpants** · 10-01-2011, 12:22 AM

Originally Posted by bjpennnn

LOL dude we are just to ****en civil about things. if we manned it up and did not **** around with these loser ass countries lying to us no one i repeat no one would **** with us...Could you imagine if we paratrooped all of the lifers/death row inmates in prison into the capitol of pakistan with ak-47s/rocket launchers and 1000kilos of dope and told them if they take over the city they can live freely lol. **** man the us needs to get more creative with this prison population that we have wasting away costing the tax payers billions of dollars, we arent ****en rehabilitating them. let them do what they do best. kill two birds with one stone.

I'm Fatty McButter Pants here to say, I support these wise words of wisdom

**10nispro** · 10-01-2011, 10:05 PM

I have a buddy and his wife that sent their social security numbers back to the government and said they don't need or want anything from the government, present or future. Together they make $200k plus each year and haven't filed a tax return of any sort for 12+ years.

**wmaousley** · 10-02-2011, 12:59 AM

Originally Posted by edgarr

I mean I HATE them! Just did my 2010 and I am paying over $250k for the year combined in FED and State. What pisses me off the most here is all these people that are not paying any and are also not paying their mortgage yet still living in their homes.......for years! I have to pay for them to live. I know people are going to say "hey be happy you make that type of income". Not the point! Still sucks! And our great leader wants to raise them!! F that. I need to incorporate offshore or find some tax shelters.....any help?

Let the arguing begin!

Based on your tax payout, your salary for this year is no less than a million. Honestly I don't believe you. I have a financial background and all the people I know who have a salary or net income exceeding $200,000usd usually have a good idea of how to manage there money as well as employ financial institutions to manage there assets. Also such persons wouldn't go on a BB forum and ask for advice. Your full of sh-it.

**wmaousley** · 10-02-2011, 01:00 AM

Dual post

**Twist** · 10-02-2011, 02:23 AM

It's entertaining when people look down on those who are misfortunate and think that it could never be them.

**Times Roman** · 10-02-2011, 06:19 AM

If I remember correctly, 47% of all americans pay no federal income taxes.....

.....think about it!

**fattymcbutterpants** · 10-02-2011, 12:32 PM

If every single American paid about 44,000 in taxes for the year I think that would solve about 14 trillion of our debt roughly. So everybody needs to get to work lol

**Hoggage_54** · 10-02-2011, 12:54 PM

Originally Posted by Times Roman

If I remember correctly, 47% of all americans pay no federal income taxes.....

.....think about it!

Because they either make less than 20k/year or they are senior citizens

**Times Roman** · 10-02-2011, 11:06 PM

Originally Posted by Hoggage_54

Because they either make less than 20k/year or they are senior citizens

I'm a firm believer that no one should get a free ride. fully support revamping the tax code and adopt a sliding scale flat tax. someone making below a certain threshhold might have to pay 5%, and someone above a certain a threshhold might have to pay 30%. But everyone should have to pay federal tax for income they receive.

**RussianVodka** · 10-03-2011, 09:13 PM

48% of Americans doesnt pay taxes at all

**wmaousley** · 10-04-2011, 01:31 AM

Hell I don't pay taxes, however i do file my income taxes. If I didn't file the embassy wouldn't renew my passport and that's the law.

**edgarr** · 10-05-2011, 04:09 PM

Originally Posted by wmaousley

Based on your tax payout, your salary for this year is no less than a million. Honestly I don't believe you. I have a financial background and all the people I know who have a salary or net income exceeding $200,000usd usually have a good idea of how to manage there money as well as employ financial institutions to manage there assets. Also such persons wouldn't go on a BB forum and ask for advice. Your full of sh-it.

Who says I don't know how to manage my money?? Aside from buying a farm, I use just about every tax shelter that I know....well that is legal. Are you suggesting I try something that is not legal? Even if i bought a company and ran expenses through that, my income that I pay all the taxes on is still paid to me by a US corp so I will still pay the same amount.

Believe what you want. I could post W-2's but of course I would white out name and SS# so what would that prove.

BTW, it is less than a million, if it wasn't I would only be at a 25% tax bracket. And the 250k I spoke about includes state tax.........which is stupid high where I live!!

**wmaousley** · 10-06-2011, 01:43 AM

Originally Posted by edgarr

Who says I don't know how to manage my money?? Aside from buying a farm, I use just about every tax shelter that I know....well that is legal. Are you suggesting I try something that is not legal? Even if i bought a company and ran expenses through that, my income that I pay all the taxes on is still paid to me by a US corp so I will still pay the same amount.

Believe what you want. I could post W-2's but of course I would white out name and SS# so what would that prove.

BTW, it is less than a million, if it wasn't I would only be at a 25% tax bracket. And the 250k I spoke about includes state tax.........which is stupid high where I live!!

Good luck with that

**Times Roman** · 10-06-2011, 02:14 AM

Originally Posted by edgarr

Who says I don't know how to manage my money?? Aside from buying a farm, I use just about every tax shelter that I know....well that is legal. Are you suggesting I try something that is not legal? Even if i bought a company and ran expenses through that, my income that I pay all the taxes on is still paid to me by a US corp so I will still pay the same amount.Believe what you want. I could post W-2's but of course I would white out name and SS# so what would that prove.

BTW, it is less than a million, if it wasn't I would only be at a 25% tax bracket. And the 250k I spoke about includes state tax.........which is stupid high where I live!!

you are a W-2 employee and are taxed at the Alternative Minimum Tax (AMT) rate, and there is not much you can do about that. Your income would suggest you are a key employee at your company, and could possible negotiate an employment contract as a contractor. This will get you out of the W-2 arena and into the schedule "C" arena where you may be able to come up with some creative deductions. Please note that if you entertain this path, you will now be responsible for the employers and the employees portion of social security taxes.... potentially an increase of 7.5% of your taxes!

Unless you need to maximize your net wage, I would suggest putting as much as you can into a 401(k) and/or an IRA.

Did you know you may be able to buy houses through a 401(k)? when the market turns around, your investment could do very well. I've never seen houses in this type shelter, but I have seen gold and other tangible assets, so I imagine you could also put houses. I bring this up since houses are extremely cheap right now.

I would recommend getting a very aggressive CPA firm involved in your financial planning. it will cost you a few thousand a year, but the potential savings should be more than enough to offset.

**edgarr** · 10-06-2011, 10:19 AM

Originally Posted by Times Roman

you are a W-2 employee and are taxed at the Alternative Minimum Tax (AMT) rate, and there is not much you can do about that. Your income would suggest you are a key employee at your company, and could possible negotiate an employment contract as a contractor. This will get you out of the W-2 arena and into the schedule "C" arena where you may be able to come up with some creative deductions. Please note that if you entertain this path, you will now be responsible for the employers and the employees portion of social security taxes.... potentially an increase of 7.5% of your taxes!

Unless you need to maximize your net wage, I would suggest putting as much as you can into a 401(k) and/or an IRA.

Did you know you may be able to buy houses through a 401(k)? when the market turns around, your investment could do very well. I've never seen houses in this type shelter, but I have seen gold and other tangible assets, so I imagine you could also put houses. I bring this up since houses are extremely cheap right now.

I would recommend getting a very aggressive CPA firm involved in your financial planning. it will cost you a few thousand a year, but the potential savings should be more than enough to offset.

Yes a key employee but it is a large firm. Besides, I don't think I would want to go back to a contractor statues. The additional cost in employees, health care, quarterly payments, etc was not fun. And, most of the items that I would write off could be questioned by the IRS and I have been through and audit.....I would rater get kicked in the balls for an hour than go through that again.

Did not know you could buy a house in a 401k....yes I max it out. I am still very bearish the housing market, I think 2007-08 was the tip of the iceberg.

Oh well, the original post was a rant. I just did my 2010 taxes and I have all these protesters outside my building with signs saying "tax the top". F-that, stop protesting and get a job and pay some taxes!

Thanks

**chuckt12345** · 10-06-2011, 10:27 AM

Originally Posted by RussianVodka

48% of Americans doesnt pay taxes at all

and thats the 48% bitchin that they dont get enough free shit from the gov. Just had a wallstreet protest this morning downtown houston at my building,, nothing but stinky hippies that prb have never paid a dime in taxes wanting more for nothing/

**Times Roman** · 10-06-2011, 10:39 AM

Originally Posted by edgarr

Yes a key employee but it is a large firm. Besides, I don't think I would want to go back to a contractor statues. The additional cost in employees, health care, quarterly payments, etc was not fun. And, most of the items that I would write off could be questioned by the IRS and I have been through and audit.....I would rater get kicked in the balls for an hour than go through that again.

Did not know you could buy a house in a 401k....yes I max it out. I am still very bearish the housing market, I think 2007-08 was the tip of the iceberg.

Oh well, the original post was a rant. I just did my 2010 taxes and I have all these protesters outside my building with signs saying "tax the top". F-that, stop protesting and get a job and pay some taxes!

Thanks

when the economy is bearish is a good time to buy. Remember... buy low sell high.....

**edgarr** · 10-06-2011, 11:19 AM

Originally Posted by chuckt12345

and thats the 48% bitchin that they dont get enough free shit from the gov. Just had a wallstreet protest this morning downtown houston at my building,, nothing but stinky hippies that prb have never paid a dime in taxes wanting more for nothing/

amen!

**edgarr** · 10-06-2011, 11:20 AM

Originally Posted by Times Roman

when the economy is bearish is a good time to buy. Remember... buy low sell high.....

yes...just looking for the "buy lower sell high"

**lifterjaydawg** · 10-06-2011, 11:30 AM

taxes are a part of life, wished everyone paid and wished everyone paid the same %. And there are way too many loop holes.

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