tax caveat

Discussion in 'Economy' started by Skull Pilot, Mar 30, 2009.

  1. Skull Pilot
    Offline

    Skull Pilot Platinum Member

    Joined:
    Nov 17, 2007
    Messages:
    31,828
    Thanks Received:
    4,503
    Trophy Points:
    1,130
    Ratings:
    +10,113
    for all of you who think your leader of hops and stimuli is doing you a favor by so graciously allowing you to keep an extra 8 dollars a week in your pay, here's a little reality for you.

    If you do not regularly get a large income tax return, you better hang on to that extra few bucks. Because as i have told you before a tax rebate without a corresponding cut in tax rates is no tax break at all.

    What you all will find out is that next year you very well may have underpaid your federal tax obligation because of that $8 a week "tax break"

    So take that extra and stash it away until the tax man comes next year.
     
  2. Ravi
    Offline

    Ravi Diamond Member

    Joined:
    Feb 27, 2008
    Messages:
    81,432
    Thanks Received:
    12,698
    Trophy Points:
    2,205
    Location:
    Hating Hatters
    Ratings:
    +29,884
    Could you link to this? The tax cut was figured into the tax tables...it lowered everyone's income tax deduction as far as I can tell and it isn't a tax rebate.
     
  3. Skull Pilot
    Offline

    Skull Pilot Platinum Member

    Joined:
    Nov 17, 2007
    Messages:
    31,828
    Thanks Received:
    4,503
    Trophy Points:
    1,130
    Ratings:
    +10,113
    no link, my accountant explained it to me.

    And again, this is NOT a tax cut as the rate you pay will be the same, the government is just withholding less the way i understand it.

    And I might be mistaken. I think ravi is right. But nevertheless, at least for me, that whopping 13 a week does me no good. I'm still writing a check for 15 grand..... Some tax break for small businesses
     
    Last edited: Mar 30, 2009
  4. Ravi
    Offline

    Ravi Diamond Member

    Joined:
    Feb 27, 2008
    Messages:
    81,432
    Thanks Received:
    12,698
    Trophy Points:
    2,205
    Location:
    Hating Hatters
    Ratings:
    +29,884
    Well...I don't think it was meant to be a tax break for small business. It was meant to be for the workers. Hey, if you pay yourself more you'll get a larger tax break...mine is about $20 per week. ;)
     

Share This Page