Paying Taxes

rod

Retired 19 years
I like comedian Ron Whites excuses. He said he wasn't good at the "tax" thing. He said he though paying quarterly meant every 25 years.
 

rod

Retired 19 years
I keep forgetting, when you started working there wasn’t an income tax.

Oh-there's always been income tax but for the first 5 or so years I worked they would quit taking out Social Security about Aug or Sept. because you had reached your maximum contribution limit.
 

KOG72

I’m full of it
I believe they should take out your part based on what you make say you make 90k they take 12k boom it’s done no wasting money in getting taxes done.It’s just another money racket.
 

badpal

Well-Known Member
Oh-there's always been income tax but for the first 5 or so years I worked they would quit taking out Social Security about Aug or Sept. because you had reached your maximum contribution limit.
Wish i had kept one, but when i first started working in the very late 70s. My UPS check stub had social security listed under OLD AGE TAX .Anybody else remember that ?
 

rod

Retired 19 years
I dropped off my taxes today to be done. Curious to see if the "big tax cut" makes any difference. Rumor has it it don't mean squat.
 

oldngray

nowhere special
I dropped off my taxes today to be done. Curious to see if the "big tax cut" makes any difference. Rumor has it it don't mean squat.
I glanced at the numbers today and looks like I'm going to get reamed on capital gains. At least its better than losing money though.
 

badpal

Well-Known Member
I glanced at the numbers today and looks like I'm going to get reamed on capital gains. At least its better than losing money though.
Well take advantage of the low capital gains tax now. With all the presidential candidates running on who is going to raise taxes the most. I dont see the rates this low in 2020.
 
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