Taxes > Me
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Senior Member
Joined: Mar 2002
Posts: 745
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Man, Taxes freaking suck ass.
I got a new position where I work, and got a $30k raise.... which unfortunately put me into a new tax bracket.
Uncle Sam is now taking $1050/per paycheck from me.. $2100/mo, little over $25,000 a year. *GRRRRRRRRRRRRRRR*!!!!!!!
I got a new position where I work, and got a $30k raise.... which unfortunately put me into a new tax bracket.
Uncle Sam is now taking $1050/per paycheck from me.. $2100/mo, little over $25,000 a year. *GRRRRRRRRRRRRRRR*!!!!!!!
Senior Member
Joined: Mar 2006
Posts: 4,334
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From: Tampa/St Petersburg
Vehicle: Turbocharged 2001 Hyundai Tiburon
Yah, im thinking thats a nice problem to have wink1.gif
What do you do for work? director of operations for the columbian cocain cartel?
joke.gif
What do you do for work? director of operations for the columbian cocain cartel?
joke.gif
Senior Member
Joined: Jul 2004
Posts: 9,041
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From: SOUTH Jersey
I feel for you, I really do. I go through that every summer. I really hate spending 30% of my income on taxes.. but at least for me, I get a few months in the middle of the winters were I barely work at all, so it evens it all out for me.
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Joined: Dec 2006
Posts: 277
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From: Wilkes-Barre, Pa
Hey man if you dont mind me asking what do you do!!!?!? And are they hiring lolol.. danm that really sucks I can't really relate except when i work alot of overtime I know i get more taken out
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From: ɯooɹpǝq ɹnoʎ
Vehicle: ǝdnoɔ sısǝuǝƃ
You makin' 6 figures?
You seriously need to contact a tax advisor and get your taxable income lowered. Pay someone $5,000 to save you $15,000.
Got a house that you own? You get a tax credit for any efficiency upgrades (tinting windows with UV film, upgrading A/C unit, replacing windows with triple pane glass). <ul>[*]Donate to church. - tax deductible[*]Donate to RDTiburon. - tax deductible[*]Replace windows in your house, upgrade A/C unit - all tax CREDITS because you're saving the environment[*]Open a Roth IRA and dump the maximum $4,000 into it every year (you're young, so you need to do this anyways!) - tax deductible, and you get to save the money instead of giving it away to charities.[*]Interest paid on your mortgage or student loans is tax deductible[*]State Sales tax, I believe, is tax deductible (it is in TN) - check it out and save ALL receipts, including gas[*]Transfer to a state with no state income tax (like TN)[*]Dump 10% of your paycheck into a company 401k - benefits are that they match a certain percentage, you keep the money, and that money isn't taxed (lowering your taxable income). If you're making $80k/yr and you dump 10% of your gross pay into a 401k, it may lower you to the previous tax bracket - you'll pay taxes on $70k instead of $80k and the money is still yours, just in savings. I believe maximum annual contribution to a 401k is $14,000.[/list]seriously, you're at the point where you need a tax planner. Either that, or ask to be demoted.
What's your position title? You're involved with computers, right? I remember you talking about SBC at one time..
You seriously need to contact a tax advisor and get your taxable income lowered. Pay someone $5,000 to save you $15,000.
Got a house that you own? You get a tax credit for any efficiency upgrades (tinting windows with UV film, upgrading A/C unit, replacing windows with triple pane glass). <ul>[*]Donate to church. - tax deductible[*]Donate to RDTiburon. - tax deductible[*]Replace windows in your house, upgrade A/C unit - all tax CREDITS because you're saving the environment[*]Open a Roth IRA and dump the maximum $4,000 into it every year (you're young, so you need to do this anyways!) - tax deductible, and you get to save the money instead of giving it away to charities.[*]Interest paid on your mortgage or student loans is tax deductible[*]State Sales tax, I believe, is tax deductible (it is in TN) - check it out and save ALL receipts, including gas[*]Transfer to a state with no state income tax (like TN)[*]Dump 10% of your paycheck into a company 401k - benefits are that they match a certain percentage, you keep the money, and that money isn't taxed (lowering your taxable income). If you're making $80k/yr and you dump 10% of your gross pay into a 401k, it may lower you to the previous tax bracket - you'll pay taxes on $70k instead of $80k and the money is still yours, just in savings. I believe maximum annual contribution to a 401k is $14,000.[/list]seriously, you're at the point where you need a tax planner. Either that, or ask to be demoted.
What's your position title? You're involved with computers, right? I remember you talking about SBC at one time..
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Joined: Mar 2002
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haha.
I work for Los Angeles County Office of Education. Business Systems Analyst is my title. I basically maintain, upgrade, test and ensure the integrity of our Budget System. (We have a 1 billion dollar yearly budget that runs through the system I take care of.) So.... I have a super easy job. lol.
I just got this promotion, so looking at what to do to lower taxes, etc. Besides getting married or buying a house. I get a $500.00 yearly stipen that I'll be putting into annuities along with further contributions. Last year I got back $3000 in taxes, but I was in a lower tax bracket.
I love working for the County. I'm mangement now, which means:
Paid by company:
Health, Medical, Vision, Dental, PERS (2.5% - Company matches 100% of contribution @5 working years), $50,000 life insurance, $500/yr Stipen
I also get:
24 Vacation days per year
12 Sick days per year
14 Paid Holidays per year.
So about 10 weeks off a year. lmao.
We get automatic 5.7% raises every year for the next 5 years. Plus cost of living increase every year which is usually about 5%. so we get a nice fat check in the mail for the past year of working every year. Then there are all kinds of other promotions you get for longevity, etc. Basically, if you work here for longer than 32 years, your losing money, because once you hit that point, you'll be making over 100% of your pay when you retire. What was cool is that I worked it so I started off on the 2nd step instead of the first, which means I got my raise the day I started instead of having to wait another year for it. laugh.gif Nice 5 grand more for this year. *cheer*
I work for Los Angeles County Office of Education. Business Systems Analyst is my title. I basically maintain, upgrade, test and ensure the integrity of our Budget System. (We have a 1 billion dollar yearly budget that runs through the system I take care of.) So.... I have a super easy job. lol.
I just got this promotion, so looking at what to do to lower taxes, etc. Besides getting married or buying a house. I get a $500.00 yearly stipen that I'll be putting into annuities along with further contributions. Last year I got back $3000 in taxes, but I was in a lower tax bracket.
I love working for the County. I'm mangement now, which means:
Paid by company:
Health, Medical, Vision, Dental, PERS (2.5% - Company matches 100% of contribution @5 working years), $50,000 life insurance, $500/yr Stipen
I also get:
24 Vacation days per year
12 Sick days per year
14 Paid Holidays per year.
So about 10 weeks off a year. lmao.
We get automatic 5.7% raises every year for the next 5 years. Plus cost of living increase every year which is usually about 5%. so we get a nice fat check in the mail for the past year of working every year. Then there are all kinds of other promotions you get for longevity, etc. Basically, if you work here for longer than 32 years, your losing money, because once you hit that point, you'll be making over 100% of your pay when you retire. What was cool is that I worked it so I started off on the 2nd step instead of the first, which means I got my raise the day I started instead of having to wait another year for it. laugh.gif Nice 5 grand more for this year. *cheer*