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Author Topic: Because of my taxes due...  (Read 4655 times)

Adam The Truck Driver

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Because of my taxes due...
« on: April 16, 2010, 04:21:59 pm »

I'm likely going to have to sell my CS-1 which I don't even possess as yet, to help pay my taxes. It is paid for already, but, thanks to the US Government I likely won't be able to keep it. CS-1 #100. Next year the tax bill will be even bigger, but I'm making less and less money. I made 30 something thousand dollars less in '09 than in '08 yet I owe about $2500, maybe 3500 more than last years. Does that make any sense? How are normal people supposed to survive in this country, the USA. The only option I see in this country for my future is, I'm screwed. All thanks to the government.
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Adam Brown

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DarinK

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Re: Because of my taxes due...
« Reply #1 on: April 16, 2010, 04:52:03 pm »

How did your taxes go up?  Over 95% of Americans got a tax cut on last years' taxes.
Just curious, I know your finances are no one else's business.
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Berolzheimer

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Re: Because of my taxes due...
« Reply #2 on: April 16, 2010, 05:12:51 pm »

FWIW I'm getting a slightly larger refund this year than last, despite having paid less in and having fewer deductions.
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The film sound side of my life:
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Adam The Truck Driver

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Re: Because of my taxes due...
« Reply #3 on: April 16, 2010, 06:02:01 pm »

I own and operate my own truck. The government wants to get rid of us, to make more money for themselves through the future monopoly kick backs. They do that by taxing the fucking piss out of us till we are forced out of business and into bankruptcy. Of course they'll still demand their tax money from us after they've put us out of business. I pay endless taxes on everything all year, but they demand more.
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Adam Brown

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PookyNMR

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Re: Because of my taxes due...
« Reply #4 on: April 16, 2010, 06:33:52 pm »

Very sorry to hear this, Adam.  Sucks to have to sell great gear.  Double sucks when it's for a tax bill.
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Nathan Rousu

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Re: Because of my taxes due...
« Reply #5 on: April 16, 2010, 08:51:33 pm »

Adam, c'mon man.

You must work for the greater good, work for the "state"... they will take care of you, and certainly they know best.

Right now you only have to work @ 1/3 of the year to satisfy the governments.

Don't be selfish, you are merely a battery.
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Philip

Adam The Truck Driver

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Re: Because of my taxes due...
« Reply #6 on: April 17, 2010, 01:30:19 pm »

I've heard some second opinions. My tax lady says I owe about $7K, 1.1K to state and 5.9K to the feds, but it is in social security/EDIT: "self employment" tax. If that is the case, I don't see why I need to pay it. I'll never see a dime of it back. I'm taking my stuff to another accountant next week for a do over/second opinion. Everyone else I know in the business isn't being hit like this. I'm thinking my overpaid accountant is screwing me. If I don't have to pay 7K then all is well, though I have already cancelled my 2nd CS1, and a CS4 and a Moonray I was down for when I saw no hope yesterday. So, we shall see.
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Adam Brown

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DarinK

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Re: Because of my taxes due...
« Reply #7 on: April 17, 2010, 03:11:01 pm »

Sorry to hear about all this.  That self-employment tax is a killer, and one that many recording engineers are also all too familiar with.  Good luck, and I hope it turns out better than you had feared.
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Edvaard

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Re: Because of my taxes due...
« Reply #8 on: April 17, 2010, 04:00:36 pm »


My condolences on your troubles.

But I don't understand this statement ...

Adam The Truck Driver wrote on Sat, 17 April 2010 13:30


... but it is in social security/EDIT: "self employment" tax. If that is the case, I don't see why I need to pay it. I'll never see a dime of it back.




Why do you think you'll never get SS at retirement? I've never heard of anyone being denied SS or disability if they qualify and they have paid in. I know both those who paid in from wages and those who paid in from self employment who get their check every month.

In fact that is about the only thing you pay in that you are sure to get actual benefit from, as opposed to your income tax that goes to Goldman Sachs, e.g.


In any case, the laws can change from one year to the next, and there were more changes than usual for this year. Some accountants keep up with that better than others, so here's hoping that your second accountant can see something the other one overlooked.

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Adam The Truck Driver

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Re: Because of my taxes due...
« Reply #9 on: April 17, 2010, 04:04:38 pm »

Edvaard wrote on Sat, 17 April 2010 15:00


My condolences on your troubles.

But I don't understand this statement ...

Adam The Truck Driver wrote on Sat, 17 April 2010 13:30


... but it is in social security/EDIT: "self employment" tax. If that is the case, I don't see why I need to pay it. I'll never see a dime of it back.




Why do you think you'll never get SS at retirement? I've never heard of anyone being denied SS or disability if they qualify and they have paid in. I know both those who paid in from wages and those who paid in from self employment who get their check every month.

In fact that is about the only thing you pay in that you are sure to get actual benefit from, as opposed to income tax that goes to Goldman Sachs, e.g.




In 20-30 years from now, I seriously doubt there will be social security. It is a dip fund for the government when they want some cash to spend. Also if I pay this I'm broke now. I'll be working till I die anyway.
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Adam Brown

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MDM,

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Re: Because of my taxes due...
« Reply #10 on: April 18, 2010, 06:57:58 am »

as usual Italy is way ahead on these issues  Laughing

Sometimes it's hard to get your pension funds over here.. and if you calculate inflation, in 30 years WILL the money be worth the same?

also consider that over here the year of retirement gets shifted-up a bit every once in a while, because obviously the government has already spent all that money, and it's been in heavy debt for decades anyhow.. so ANY reason not to pay is good.

shortening the lifespan of citizens is just one other way not to pay...so there's a potential conflict of interests with gov. healthcare.

it's not a good thing when the government takes your money IMO
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I must study politics and war that my sons may have liberty to study mathematics and philosophy .. in order to give their children a right to study painting, poetry and music.
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Bill_Urick

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Re: Because of my taxes due...
« Reply #11 on: April 18, 2010, 07:24:37 am »

MDM, wrote on Sun, 18 April 2010 06:57


shortening the lifespan of citizens is just one other way not to pay...so there's a potential conflict of interests with gov. healthcare.



Now I understand how our new health-care system is actually going to reduce the deficit.

Thanks Max!
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Good sense is, of all things among men, the most equally distributed; for everyone thinks himself so abundantly provided with it, that those even who are the most difficult to satisfy in everything else, do not usually desire a larger measure of this quality than they already possess.

MDM,

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Re: Because of my taxes due...
« Reply #12 on: April 19, 2010, 11:30:41 am »

Quote:

Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash


March 8 (Bloomberg) -- The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system, said people briefed on the matter.



http://www.bloomberg.com/apps/news?pid=20601014&sid=aaBS S5oKjb80
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I must study politics and war that my sons may have liberty to study mathematics and philosophy .. in order to give their children a right to study painting, poetry and music.
John Adams (1735-1826) 2nd President, United States

cgc

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Re: Because of my taxes due...
« Reply #13 on: April 22, 2010, 09:03:15 am »

I was burned by self-employment tax several years ago.  Basically, the company I was working for hired me as a contractor so they could avoid paying that part of the tax and not have to offer benefits while still having a full employee.  
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thinman

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Re: Because of my taxes due...
« Reply #14 on: April 25, 2010, 01:41:42 am »

Bill_Urick wrote on Sun, 18 April 2010 06:24

MDM, wrote on Sun, 18 April 2010 06:57


shortening the lifespan of citizens is just one other way not to pay...so there's a potential conflict of interests with gov. healthcare.



Now I understand how our new health-care system is actually going to reduce the deficit.

Thanks Max!


Yep, attrition. The 'potential conflict of interest' is no longer merely potential; it's on the visible horizon. A lot of us baby boomers will have to take the pill, since we won't be worth the cost of treatment. SS is already bankrupt. The money we paid in has long since been spent and that's a fact. Once they control our healthcare, we won't fare any better.

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thinman

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Re: Because of my taxes due...
« Reply #15 on: April 25, 2010, 02:02:13 am »

Adam The Truck Driver wrote on Fri, 16 April 2010 17:02

I pay endless taxes on everything all year, but they demand more.


Sorry, Adam. I know all about what you're going through. It's been said before, but bears repeating:
"Government is not the solution. Government is the problem."
.
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Jay Kadis

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Re: Because of my taxes due...
« Reply #16 on: April 25, 2010, 12:34:18 pm »

thinman wrote on Sat, 24 April 2010 23:02

Adam The Truck Driver wrote on Fri, 16 April 2010 17:02

I pay endless taxes on everything all year, but they demand more.


Sorry, Adam. I know all about what you're going through. It's been said before, but bears repeating:
"Government is not the solution. Government is the problem."
.
It certainly is when you elect doofuses and expect them to work miracles.  Government will be no better than those who select the participants.

The self-employment tax is onerous but it is well-known and must be factored into whether self-employment is viable.  Not what you want to foster small business.

MDM,

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Re: Because of my taxes due...
« Reply #17 on: April 25, 2010, 03:35:41 pm »

can you really select who goes to the white house?

I think that people would have a better lif if they voted for a third party (any third party not financed by the blue meanies) and electing local representatives who don't do football politics ..if you want to improve the rights of individuals and the private sector..


otherwise the nasties will continue to spread weedkiller all over the free world as their beanstalk grows ever higher.
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I must study politics and war that my sons may have liberty to study mathematics and philosophy .. in order to give their children a right to study painting, poetry and music.
John Adams (1735-1826) 2nd President, United States

John Ivan

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Re: Because of my taxes due...
« Reply #18 on: April 25, 2010, 03:40:40 pm »

MDM, wrote on Sun, 25 April 2010 15:35

can you really select who goes to the white house?

I think that people would have a better lif if they voted for a third party (any third party not financed by the blue meanies) and electing local representatives who don't do football politics ..if you want to improve the rights of individuals and the private sector..


otherwise the nasties will continue to spread weedkiller all over the free world as their beanstalk grows ever higher.


I must say. After all these years you still have no idea what it is that goes on over here.. Just an observation..

Ivan.....................
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Adam The Truck Driver

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Re: Because of my taxes due...
« Reply #19 on: April 30, 2010, 10:56:57 pm »

I don't mind paying my fair share of "income tax", but self employment/social security? That's about the same as rolling the dice at the craps table. Likely NOT going to pay off. So I and everyone else in my position, we're proper fucked by the government.
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Adam Brown

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