Claim 0 on W-4. Still owe taxes. WTF?

[Screw-Rice]

I'm a little bitter with taxes, especially when you here these idiots gone on about taxing those who work can afford to pay more for the lazy.

Between my truck, equipment and everything else I bought this year, had just over $35k in expenses, and still will be cutting a $5800 check for Fed and $678 for State. I've come to terms with knowing I'll likely never see a return or break even again.

 

[2000gt4.6]

What i tell people is this: if you are making over 65K a year, combined, get a CPA to do your taxes. You will be glad. And you can retroactively re-file taxes up to five years back, I think.

As to your situation, Branhammer, my wife and I are in the same boat, and have been for ten years, at least. Our accountant looked at our situation, recommended we have an additional amount deducted, and that problem is solved.

In my opinion, payroll deduction of taxes should be flat-out against the law. We should have to write a check, every year, for what we owe and pay it. If we did that, there would be huge riots as people saw exactly how much is being taken from them. Payroll deduction prevents that by most people not knowing how much is being taken from them. I say if the Federal Government wants to tax us, they should make it so in-our-faces clear how much they are taking that no one has any doubt. Then the next politician who comes along promising midnight basketball or whatever in the hell else piece of dipshittery with your money will get run out of town.

Bitter? Why, yes, yes I am.

This is why the flat tax/fair tax/consumption tax etc will never come to pass. They would also claim the payroll deduction thing is because most people could not save money all year. The real reason is to get the additude at tax time that "I got back xxxx.xx" instead of how much you paid. Imagine having federal taxes on every receipt you got on everything you bought. People would flip.

Do a little experiment and ask a dozen friends/coworkers what they paid in taxes last year. Willing to bet most talk about what their refund was but not how much they paid.


Are you guys who are paying in at the end of the year while both filing 0 making alot more/less than your spouse? She files zero, I file 1, and we break even. We both make nearly identical money though right at the top of the 25 percent married bracket.

 

[vertcobra99]

haven't posted in a while... but this crap makes my blood boil. Wife and I make about 300k combined. We both claim a 0. We have to pay 17k this year... worst thing is... I don't even think I am rich we are comfortable. I have a budget just like everyone else

 

[yellow03cobra]

haven't posted in a while... but this crap makes my blood boil. Wife and I make about 300k combined. We both claim a 0. We have to pay 17k this year... worst thing is... I don't even think I am rich we are comfortable. I have a budget just like everyone else

. I would consider that pay pretty well off if not rich. No offense, but with that pay I'd have my 250k middle income home here in Iowa paid for in a few years. What you are paying back is what they took from me for the year.

 

[rezarxt]

Wife and I make $175,000 combined with 0 kids and own a home. We got about $1,000 back this year federal and claim 0. Some of you make me very surprised that you're paying taxes.

 

[13COBRA]

Some of you make me very surprised that you're paying taxes.

I think from now on I'm just going to skip out and wait for them to come knocking on the door.

 

[mc01svt]

I owed the feds quite a bit on last year and this year too. The wife and i both had decent paying jobs and we have no kids, which pushes us into a higher bracket. On paper we are "high income earners" but the reality is after taxes, mortgage, insurance and normal living expenses there is very little left. We are also both very frugal, neither of us has a smart phone and we don't even have cable. But yet we are considered "rich" by government standards. What a crock. :bash:

 

[rezarxt]

I think from now on I'm just going to skip out and wait for them to come knocking on the door.

Sounds like a good plan lol. It might take them a while to come knocking, but they always do!

 

[13COBRA]

Sounds like a good plan lol. It might take them a while to come knocking, but they always do!

I got it figured out.

I'm going to sell my house on paper to a friend of mine, then purchase a cabin in the middle of Montana.

 

[08mojo]

In my opinion, payroll deduction of taxes should be flat-out against the law. We should have to write a check, every year, for what we owe and pay it. If we did that, there would be huge riots as people saw exactly how much is being taken from them. Payroll deduction prevents that by most people not knowing how much is being taken from them. I say if the Federal Government wants to tax us, they should make it so in-our-faces clear how much they are taking that no one has any doubt. Then the next politician who comes along promising midnight basketball or whatever in the hell else piece of dipshittery with your money will get run out of town.

Bitter? Why, yes, yes I am.

I have said this same thing for years! People are sheep: I got my refund, going to go on vacation with my refund, going to buy parts with my refund. It's not additional money paid to you by the government, it is money that you EARNED paid for by your employer. People just do not understand that their EARNINGS is the gross amount before tax, not the net after tax.

. I would consider that pay pretty well off if not rich. No offense, but with that pay I'd have my 250k middle income home here in Iowa paid for in a few years. What you are paying back is what they took from me for the year.

Maybe I don't understand your post. He and his wife claim 0, so they are paying the 'full' estimated amount of taxes (no deductions). On top of that 'full' amount taken out of every check, they owed an ADDITIONAL $17k.

My wife and I are in the same boat as many others. I contribute a healthy amount to a 401k and an IRA. We have no kids, volutarily withold an additional amount of taxes per paycheck and still owe. I've made some good choices in my life and I have worked very hard to get to my current position. I simply want to keep what my employer pays for my work.

I'd be happier about taxes, even if the amount I pay stays the same, if I were able to allocate where the taxes went. I'm happy to pay for infrastructure, military, emergency services, etc... What I don't want to pay for is those looking for a handout.

 

[STAMPEDE3]

I think from now on I'm just going to skip out and wait for them to come knocking on the door.

Did you read my plan? lol

My blood boils every time I think about it.

 

[scott9050]

I owe about $6500 due to having a second job last year. Once I figured out that with expenses and taxes I was basically making nothing, I gave it up. What is the point if the government punishes you hard for trying to get ahead?

 

[13COBRA]

Did you read my plan? lol

My blood boils every time I think about it.

Yep.

This year I am getting paid through our reinsurance company as well...they don't withhold...so next year will be huge check.

 

[yellow03cobra]

Maybe I don't understand your post.

The last part was just a statement. 17k was about what I personally paid. My wife paid in about the same totalling maybe 30-35k from my family for the year and I got 3k back. Regardless most of the well off are just house poor and get other kickbacks that they aren't talking about which cuts into the amounts paid and owed. Yes they make triple my pay, be thankful you aren't paying triple my taxes. Or maybe they are?

 

[STAMPEDE3]

I tell the guys at work all the time,

Them: I'm getting 3K back......


Me: Yea, go look at how much you still paid.....

Them: Awe ****

I don't understand how people are happy getting back a couple grand they loaned interest free to the Gov after paying 30K or so.
I don't understand how people only look at federal and not add up all the other shit.

These ****ers are taking over half my salary every year and what do I get?
Shitty roads, tainted water, paying for some under achiever who won't get off the couch?

I have had about enough. I'm just waiting on the the rest of you to have enough with me.

 

[yellow03cobra]

I tell the guys at work all the time,

Them: I'm getting 3K back......


Me: Yea, go look at how much you still paid.....

Them: Awe ****

I don't understand how people are happy getting back a couple grand they loaned interest free to the Gov after paying 30K or so.
I don't understand how people only look at federal and not add up all the other shit.

These ****ers are taking over half my salary every year and what do I get?
Shitty roads, tainted water, paying for some under achiever who won't get off the couch?

I have had about enough. I'm just waiting on the the rest of you to have enough with me.

I could/should spend more time taking advantage of things like that and using my cash back features on my cards more but honestly it doesn't amount to much and isn't going to change my life any. Likely get spent on stupid crap anyway. lol

 

[Blk04L]

I tell the guys at work all the time,

Them: I'm getting 3K back......


Me: Yea, go look at how much you still paid.....

Them: Awe ****

I don't understand how people are happy getting back a couple grand they loaned interest free to the Gov after paying 30K or so.
I don't understand how people only look at federal and not add up all the other shit.

These ****ers are taking over half my salary every year and what do I get?
Shitty roads, tainted water, paying for some under achiever who won't get off the couch?

I have had about enough. I'm just waiting on the the rest of you to have enough with me.

Florida FTW.

 

[Screw-Rice]

I tell the guys at work all the time,

Them: I'm getting 3K back......


Me: Yea, go look at how much you still paid.....

Them: Awe ****

I don't understand how people are happy getting back a couple grand they loaned interest free to the Gov after paying 30K or so.
I don't understand how people only look at federal and not add up all the other shit.

These ****ers are taking over half my salary every year and what do I get?
Shitty roads, tainted water, paying for some under achiever who won't get off the couch?

I have had about enough. I'm just waiting on the the rest of you to have enough with me.

I've mentioned in a few threads that a large number of us need to ban together and refuse to pay taxes. I'm sick of seeing how I pay, then hear these leeches demanding more of my money to cover their lazy asses.

 

[divernb]

Florida FTW.

+1

I still get fired up when I see how much federal I'm paying though.

 

[13COBRA]

I tell the guys at work all the time,

Them: I'm getting 3K back......


Me: Yea, go look at how much you still paid.....

Them: Awe ****

I don't understand how people are happy getting back a couple grand they loaned interest free to the Gov after paying 30K or so.
I don't understand how people only look at federal and not add up all the other shit.

These ****ers are taking over half my salary every year and what do I get?
Shitty roads, tainted water, paying for some under achiever who won't get off the couch?

I have had about enough. I'm just waiting on the the rest of you to have enough with me.

I feel the Barry.