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I personally have never known anyone who did.....not saying it cant happen...but I have to believe you open yourself up to an audit if you do.
My daughter does, every year. She has one child, claims head of household, makes approximately $35,000 per year and always gets a refund of around 4,000-5,000 dollars. It's the Earned Income Tax Credit. The federal government pays her.
Yes...I can see that.
Question...how would you feel if your daughter lost that?
^Step away from your liberal MSM, you're scaring me. You are the one that is wrong, you can get back a lot more than you paid in.
I personally have never known anyone who did.....not saying it cant happen...but I have to believe you open yourself up to an audit if you do.
My daughter does, every year. She has one child, claims head of household, makes approximately $35,000 per year and always gets a refund of around 4,000-5,000 dollars. It's the Earned Income Tax Credit. The federal government pays her.
^Step away from the AM Radio.
^Step away from your liberal MSM, you're scaring me. You are the one that is wrong, you can get back a lot more than you paid in.
I personally have never known anyone who did.....not saying it cant happen...but I have to believe you open yourself up to an audit if you do.
My daughter does, every year. She has one child, claims head of household, makes approximately $35,000 per year and always gets a refund of around 4,000-5,000 dollars. It's the Earned Income Tax Credit. The federal government pays her.
Yes...I can see that.
Question...how would you feel if your daughter lost that?
It would make me sad, she always needs that $ however, it gives her little incentive to improve herself to get in a better tax bracket.
Here's a Yahoo thread (all I could find quickly) that tells how it's done. Tax refund for dependents? More than you pay? - Yahoo! Answers
TWO bald face OBAMA LIES!
"The San Antonio-Express News recently pointed out that past Texas governors have done well in terms of job creation, too. The state did even better when George W. Bush was governor."
I personally have never known anyone who did.....not saying it cant happen...but I have to believe you open yourself up to an audit if you do.
My daughter does, every year. She has one child, claims head of household, makes approximately $35,000 per year and always gets a refund of around 4,000-5,000 dollars. It's the Earned Income Tax Credit. The federal government pays her.
While she might get back more than she pays, the size of her refund isn't a reflection of her tax bill, it's more a reflection of how much she overpaid during the year.
The actual federal income taxes owed before the EITC, presuming no deductions, would be about $2,800 (a bit lower thanks to the child deduction, but we're working on the back of a napkin here!). In addition, she'd pay $2,677 in payroll taxes. Her total tax liability pre_EITC would be $5477+/-.
My daughter does, every year. She has one child, claims head of household, makes approximately $35,000 per year and always gets a refund of around 4,000-5,000 dollars. It's the Earned Income Tax Credit. The federal government pays her.
While she might get back more than she pays, the size of her refund isn't a reflection of her tax bill, it's more a reflection of how much she overpaid during the year.
The actual federal income taxes owed before the EITC, presuming no deductions, would be about $2,800 (a bit lower thanks to the child deduction, but we're working on the back of a napkin here!). In addition, she'd pay $2,677 in payroll taxes. Her total tax liability pre_EITC would be $5477+/-.
Her withholding was only 650.00, I do her payroll.
While she might get back more than she pays, the size of her refund isn't a reflection of her tax bill, it's more a reflection of how much she overpaid during the year.
The actual federal income taxes owed before the EITC, presuming no deductions, would be about $2,800 (a bit lower thanks to the child deduction, but we're working on the back of a napkin here!). In addition, she'd pay $2,677 in payroll taxes. Her total tax liability pre_EITC would be $5477+/-.
Her withholding was only 650.00, I do her payroll.
He is talking about payroll taxes that employers are required to pay for each employee.
This is how the left thinks. Their employers taxes can be counted as what they pay in taxes.
Her withholding was only 650.00, I do her payroll.
He is talking about payroll taxes that employers are required to pay for each employee.
This is how the left thinks. Their employers taxes can be counted as what they pay in taxes.
Even then it comes up short.
While she might get back more than she pays, the size of her refund isn't a reflection of her tax bill, it's more a reflection of how much she overpaid during the year.
The actual federal income taxes owed before the EITC, presuming no deductions, would be about $2,800 (a bit lower thanks to the child deduction, but we're working on the back of a napkin here!). In addition, she'd pay $2,677 in payroll taxes. Her total tax liability pre_EITC would be $5477+/-.
Her withholding was only 650.00, I do her payroll.
He is talking about payroll taxes that employers are required to pay for each employee.
Her withholding was only 650.00, I do her payroll.
He is talking about payroll taxes that employers are required to pay for each employee.
No, I'm not. I calculated the payroll tax by multiplying the earned income by 7.65%. I calculated the federal income tax from IRS tax tables.
If you wanted to actually contribute, you could do the same.
He is talking about payroll taxes that employers are required to pay for each employee.
No, I'm not. I calculated the payroll tax by multiplying the earned income by 7.65%. I calculated the federal income tax from IRS tax tables.
If you wanted to actually contribute, you could do the same.
I cannot believe you are so hard headed. The 7.65% is the Social Security Tax Rate. Everyone has a different withholding rate based on the dependents they claim. There is no "set" withholding rate. You really need to quit trying to make a point about something you know nothing about. I have been a bookkeeper for 30+ years and a tax preparer.
Her FEDERAL WITHHOLDING was $650.00 and she got a $5000.00 tax refund. They didn't refund her SS tax.
The 7.65% is a tax on income. That's why they multiply your income b y 7.65% to figure out how much you owe - unless you make more than 106K, in which case your capped.He is talking about payroll taxes that employers are required to pay for each employee.
No, I'm not. I calculated the payroll tax by multiplying the earned income by 7.65%. I calculated the federal income tax from IRS tax tables.
If you wanted to actually contribute, you could do the same.
I cannot believe you are so hard headed. The 7.65% is the Social Security Tax Rate. Everyone has a different withholding rate based on the dependents they claim.
There is no "set" withholding rate.
The 7.65% is a tax on income. That's why they multiply your income b y 7.65% to figure out how much you owe - unless you make more than 106K, in which case your capped.No, I'm not. I calculated the payroll tax by multiplying the earned income by 7.65%. I calculated the federal income tax from IRS tax tables.
If you wanted to actually contribute, you could do the same.
I cannot believe you are so hard headed. The 7.65% is the Social Security Tax Rate. Everyone has a different withholding rate based on the dependents they claim.
I calculated your daughters tax payment based on the IRS tax tables.
There is no "set" withholding rate.
The withholding rate is set by the employee- you can tell your employer how much to withhold by the number of exemptions and any additional amount you want withheld.
What you actually owe is a completely different story.
The 7.65% is a tax on income. That's why they multiply your income b y 7.65% to figure out how much you owe - unless you make more than 106K, in which case your capped.No, I'm not. I calculated the payroll tax by multiplying the earned income by 7.65%. I calculated the federal income tax from IRS tax tables.
If you wanted to actually contribute, you could do the same.
I cannot believe you are so hard headed. The 7.65% is the Social Security Tax Rate. Everyone has a different withholding rate based on the dependents they claim.
I calculated your daughters tax payment based on the IRS tax tables.
There is no "set" withholding rate.
The withholding rate is set by the employee- you can tell your employer how much to withhold by the number of exemptions and any additional amount you want withheld.
What you actually owe is a completely different story.
The 7.65% is a tax on income. That's why they multiply your income b y 7.65% to figure out how much you owe - unless you make more than 106K, in which case your capped.I cannot believe you are so hard headed. The 7.65% is the Social Security Tax Rate. Everyone has a different withholding rate based on the dependents they claim.
I calculated your daughters tax payment based on the IRS tax tables.
There is no "set" withholding rate.
The withholding rate is set by the employee- you can tell your employer how much to withhold by the number of exemptions and any additional amount you want withheld.
What you actually owe is a completely different story.
STOP!!!! 7.65% is Social Security Withholding, not FEDERAL WITHHOLDING TAX. 7.65% goes into a separate fund. There are three deductions for taxes.
Federal Withholding based on dependents - used for calculating your tax refund
Social Security Withholding 7.65% Yes, this is capped at $106,000.00
State Withholding for what ever state you're in unless there is no state tax
do you even get a paycheck??? Look at your pay stub..........you'll see it there.
The 7.65% is a tax on income. That's why they multiply your income b y 7.65% to figure out how much you owe - unless you make more than 106K, in which case your capped.I cannot believe you are so hard headed. The 7.65% is the Social Security Tax Rate. Everyone has a different withholding rate based on the dependents they claim.
I calculated your daughters tax payment based on the IRS tax tables.
There is no "set" withholding rate.
The withholding rate is set by the employee- you can tell your employer how much to withhold by the number of exemptions and any additional amount you want withheld.
What you actually owe is a completely different story.
whereas FICA is a tax, it is not deemed a tax for purposes in this debate.
I believe we are debating federal witholding tax....FICA is a separate deduction.
The 7.65% is a tax on income. That's why they multiply your income b y 7.65% to figure out how much you owe - unless you make more than 106K, in which case your capped.I cannot believe you are so hard headed. The 7.65% is the Social Security Tax Rate. Everyone has a different withholding rate based on the dependents they claim.
I calculated your daughters tax payment based on the IRS tax tables.
There is no "set" withholding rate.
The withholding rate is set by the employee- you can tell your employer how much to withhold by the number of exemptions and any additional amount you want withheld.
What you actually owe is a completely different story.
STOP!!!! 7.65% is Social Security Withholding, not FEDERAL WITHHOLDING TAX. 7.65% goes into a separate fund. There are three deductions for taxes.
The 7.65% is a tax on income. That's why they multiply your income b y 7.65% to figure out how much you owe - unless you make more than 106K, in which case your capped.I cannot believe you are so hard headed. The 7.65% is the Social Security Tax Rate. Everyone has a different withholding rate based on the dependents they claim.
I calculated your daughters tax payment based on the IRS tax tables.
There is no "set" withholding rate.
The withholding rate is set by the employee- you can tell your employer how much to withhold by the number of exemptions and any additional amount you want withheld.
What you actually owe is a completely different story.
whereas FICA is a tax, it is not deemed a tax for purposes in this debate.
