Oh my it's February and April the 15th is fast approaching. Folks with great anticipation of Tax REFUNDS can hardly wait and then there's the folks wishing they could just crawl off in a deep whole somewhere. The IRS the 3 most dreaded letters in the alphabet when they are all put together for some folks.
I have done some reading and still haven't found that positive in your face law that says you have to pay an income tax. Well I guess if we Americans just keep paying it, the IRS will surely take it.
I found some thing one day that reads like this.
WHAT HAPPENED?
What Happened? At first I thought this was funny...then I realized the awful
truth of it.
Be sure to read all the way to the end!
Tax his land,
Tax his bed,
Tax the table
At which he's fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries, then
Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax his ass
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers,
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid.
Put these words
Upon his tomb,
"Taxes drove me
to my doom..."
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax,
Fuel permit tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax
Interest expense
Inventory tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road usage taxes
Sales Tax
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone federal excise tax
Telephone federal universal service fee tax
Telephone federal, state and local surcharge taxes
Telephone minimum usage surcharge tax
Telephone recurring and non-recurring charges tax
Telephone state and local tax
Telephone usage charge tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft registration Tax
Well Permit Tax
Workers Compensation Tax
COMMENTS: Not one of these taxes existed 100 years ago,
and our nation was the most prosperous in the world.
We had absolutely no national debt, had the largest middle class
in the world, and Mom stayed home to raise the kids.
What happened?
And I still have to "press 1" for English
I hope this goes around the world 10 times
Oh and for all of you waiting for that refund click on the Title ...lol.
I truly hope your one of the lucky ones waiting on your refund or one of the smart ones who have figured out how make just the right income not to pay a cent in income taxes.
Things to remember if your trying to save money:
- 401K, use it especially if your employer offers matching funds. You are not taxed on savings for your retirement on your 401K until after retirement, by then you will probably be in a lower tax bracket.
- Start an IRA especially if you don't have access to a 401k through you job.
- Settlements of debts. If you try and negociate a settlement on a debt you have and if you settle with a difference of over $600.00 you will receive a 1009c form for you taxes because you will have to claim this difference as income. Example if you have for instance a debt of say $2200.00 and settle for $1100.00 that's a 50% settlement, that leaves you with $1100.00 that you will have to claim as earned income. Just remember that this could possibly send you into a higher tax bracket and you might wind up owing more in taxes.
- Let an expert help you with your taxes to make sure you get all the credits allowed when doing your Income Taxes. It's your money don't just give it away. It's fine if you know what your doing and know all the tax laws, but if not get help.
- If you use a tax prepartion company great but opt to mail it in or e-file it and don't give your hard earned money away in order to get that refund back sooner. You have waited this long wait a bit longer and get all the money you deserve.
- For those of you living pay check to pay check why not put some of that refund into an emergency saving fund. With the job market the way it is you never know you maybe the next to have a job lay off.
- Why not pay off some of those high interest credit cards off or at least lower the balances which can also help raise your FICO score.
- Pay close attention to that W-4 form. You may be having to much tax taken out or pehaps not enough. You can speak to your HR person for help with this. I personally change mine several times a year. I try to figure out how to keep my money throughout the year so I don't get a big refund. Reason... I don't want UNCLE SAM earning interest off my money.
You should always seek advice from an attorney, an accountant or a tax expert. I’m only sharing what I know, or at least what I think I know.Money is something everyone should take control of. You work to hard to just let a few bucks here and there slip away. Those bucks add up just like pennies if you save them.
Well I got my refund today and the first thing I did was pay off those credit cards and boy did that fell good. I will also be giving some to a charity. The rest went into my savings. A nice little place to save is at
EmigrantDirect.com, a division of Emigrant Bank, Member FDIC...and as of today the rate is at a nice 5.05% annual percentage yield.
Make the best of what you have and if you have been blessed with a refund don't forget to give some of it to the charity of your choice. Reason...because you reap what you sow and what goes around comes around...and yes this holds true for money too not just revenage...lol.