What % did you pay in taxes?

[SoylentG]

Was just re-reading the report my tax preparer gave me, and I paid 5.78%, joint return, ~35k income (we're college students). What about ya'll?

 

[Chaotic42]

I just have federal in front of me here:

Actually paid: 11.34%
Really owed: 9.75%

Single male, 24 years old, full-time worker.

 

[Alkaline5]

I paid just over 5% myself. hooray for mortgage interest!

 

[Chaotic42]

Damned loafers with your families and houses!

 

[Greenman]

25% with 4 dependents, and a mortgage.

 

[Mermaidman]

Originally posted by: Chaotic42
Damned loafers with your families and houses!

Wait till you hear about EIC . . . :|

 

[redgtxdi]

Originally posted by: Alkaline5
I paid just over 5% myself. hooray for mortgage interest!

Yup........the feds will gladly let you off at 5% for the 100% mortgage interest you paid!

 

[herm0016]

hmm 7.4 percent and having an agi less than 5,000. us college kids get screwed because we cannot deduct college expenses because we are dependents. college tax credit should be reworked so it gives us a break! we spend way more than we make in a year and cant report it!

 

[GRIFFIN1]

89.32% after federal income tax, state income tax, sales tax, gas tax, property tax, vehicle registration, vehicle inspection sticker, vehicle insurance (it's required)

 

[redgtxdi]

Originally posted by: GRIFFIN1
89.32% after federal income tax, state income tax, sales tax, gas tax, property tax, vehicle registration, vehicle inspection sticker, vehicle insurance (it's required)

Kudos to Griffin for true honesty!


Kinda' sickening isn't it???


Only now do I realize why my federal return has remained fairly similar over the years, while my state return coughs up more & more tax money to support the # of people sitting at home collecting a check.

Time to quit the "Work Americans aren't doing" crap and put AmericaNS back to work!!!!! :disgust:

 

[herm0016]

good point. if i count sales tax, gas tax, social "security", extra fees that i pay to the state owned college, the taxes that are part of my rent, etc etc. i'm sure i would be in the 60 to 70 percent range

 

[b0mbrman]

$0 federal tax
$0 state tax
-----------------
$0 total tax
/$xx,xxx income (don't have the exact figures offhand, but it's between $60k and $70k)
-------------------------
0% tax rate

 

[Orsorum]

Originally posted by: herm0016
hmm 7.4 percent and having an agi less than 5,000. us college kids get screwed because we cannot deduct college expenses because we are dependents. college tax credit should be reworked so it gives us a break! we spend way more than we make in a year and cant report it!

Suggest your parents look into claiming the Lifetime Learning or Hope Credit instead. If your parents can claim you as a dependent they can claim the qualified expenses paid for your education, assuming they don't exceed the income requirements. If it really miffs you, ask your parents to give you part of what they saved in taxes.

 

[Orsorum]

I paid $150, after taking into account a $2,000 education credit. I took the most exemptions possible on my withholding and I still overpaid by $600.

 

[imported_Devine]

I got it all back, being in the military and being deployed to Iraq for a couple of month of tax free pay is awesome when it comes to taxes. It put me well below the poverty line I only had to claim income for 7 months

 

[RU482]

Originally posted by: b0mbrman
$0 federal tax
$0 state tax
-----------------
$0 total tax
/$xx,xxx income (don't have the exact figures offhand, but it's between $60k and $70k)
-------------------------
0% tax rate

I didn't know you were an illegal alien

 

[jadinolf]

Originally posted by: Chaotic42
Damned loafers with your families and houses!

Yeah, how dare they.

 

[sygyzy]

Effective Tax Rates 2006

Federal - 19.0%
State - 6.5%

 

[JEDIYoda]

what taxes???

 

[IEC]

I filed returns to get my automatic deductions for federal and state income taxes back. Earned <$3,000 as full-time student with work-study. Got $74 back because payroll didn't fix my deduction status until this year. I anticipate not paying taxes this year either, since I obviously don't make much as a full-time undergrad student... TurboTax Freedom Edition 2 weeks before deadline FTW.

 

[EagleKeeper]

2% Federal rate on $100K - Self employment has its benefits.
0% State income tax - thanks to Suckers that visit.

 

[radioouman]

Approx. 33%

 

[b0mbrman]

Originally posted by: redly1

Originally posted by: b0mbrman
$0 federal tax
$0 state tax
-----------------
$0 total tax
/$xx,xxx income (don't have the exact figures offhand, but it's between $60k and $70k)
-------------------------
0% tax rate

I didn't know you were an illegal alien

Hey, it's undocumented worker! Jerk :|

 

[RichUK]

With both national insurance and tax combined I lose over 1/3 in deductions from my monthly salary.

Seems like you guys are better off.

 

[dennilfloss]

0%

My income is not taxable.