quote:

Originally posted by Aeteocles:
Someone hands me a $1000 check and my first thought is always, "How much of this is going to have to go to taxes?"

If more people had that visceral response, maybe we wouldn't have so many taxes.

I once got talked into doing a consulting job that entailed doing the Engineering, programming and worst of all, the Project Management. I ended up saving the client a little over $200K and he rewarded me with a bonus check for $40,000.00

That was before taxes. I actually got a little over $20,000.00 after taxes.

I hate income tax.

quote:

Originally posted by Flash-LB:

quote:

Originally posted by Aeteocles:
Someone hands me a $1000 check and my first thought is always, "How much of this is going to have to go to taxes?"

If more people had that visceral response, maybe we wouldn't have so many taxes.

I once got talked into doing a consulting job that entailed doing the Engineering, programming and worst of all, the Project Management. I ended up saving the client a little over $200K and he rewarded me with a bonus check for $40,000.00

That was before taxes. I actually got a little over $20,000.00 after taxes.

I hate income tax.

As being self employed, you had to pay both halves of the social security (15.3%), then your top marginal rate of fed taxes (maybe ~30%), then state tax {~4%?). Sounds about right.

As I posted earlier, the top 50% of the income earners pay ~97% of fed income taxes. I wonder, how much of your $20K tax went to help those who really need help, vs how much went to line the pockets of politicians and their cronies.

So went to the tax man today we’ll see what the outcome is tomorrow I guess.

quote:

...last year's tax filing was delayed. Yesterday I got a notice that we were paid a small interest: Be sure to include the interest in next year's income!

Yep. The IRS sent me a 2020 1099-INT for a whopping $10.16. Sixteen cents over the reportable limit.