Official Tax Thread
- Thread starter Imposter
- Start date
not_fraggle
Veteran X
i wasnt saying it i was SINGING it. are you deaf.
anyone ever figure out how much a dollar is worth after it's been around a few times?
ok, you earn it, the business that pays you gets taxed, you get taxed again on that same dollar (income tax).
you spend it,,, you pay sales tax on whatever you buy(outgo tax).
you try to save it and you get taxed every year on any income it makes(savings tax)
you invest it you get taxed on the dividends(investing tax)and the company you invest it with maybe makes a profit and pays taxes on it too, but usually big business can loop hole thier way around this... still...
if you earn a dollar, buy something with it then go to sell that thing you are supposed to delcare it again and get taxed on the income from the sale again if you make a profit on what you sold, the person buying it also pays sales tax. So if you had say like a vintage car you bought for like 5k and sold it for like 17k you have to report income the person who buys it has to pay tax with license)
you know,, it seems as though the almighty dollar isn't so big after people start taking 12% and 8% and 3% and 6% all fo the time...
so how much is a dollar in your pocket worth after it's been passed around and taxed each time?
ok, you earn it, the business that pays you gets taxed, you get taxed again on that same dollar (income tax).
you spend it,,, you pay sales tax on whatever you buy(outgo tax).
you try to save it and you get taxed every year on any income it makes(savings tax)
you invest it you get taxed on the dividends(investing tax)and the company you invest it with maybe makes a profit and pays taxes on it too, but usually big business can loop hole thier way around this... still...
if you earn a dollar, buy something with it then go to sell that thing you are supposed to delcare it again and get taxed on the income from the sale again if you make a profit on what you sold, the person buying it also pays sales tax. So if you had say like a vintage car you bought for like 5k and sold it for like 17k you have to report income the person who buys it has to pay tax with license)
you know,, it seems as though the almighty dollar isn't so big after people start taking 12% and 8% and 3% and 6% all fo the time...
so how much is a dollar in your pocket worth after it's been passed around and taxed each time?
Dunno, but yeah, anytime money moves, it gets taxed.
The pres wants to do away with the dividend tax, he calls it double taxation. He's trying. Plus he wants to reduce the federal taxes now.
The pres wants to do away with the dividend tax, he calls it double taxation. He's trying. Plus he wants to reduce the federal taxes now.
bacardi and fraggle please kiss + make up
ill start you
not_fraggle
Veteran X
smoochies.
Blitzkrieg
Veteran XV
putrid, what you described is money in motion...velocity of money...monetary school of economics..
different business can multiply that dollar differently. Generally speaking, a dollar can become 5-6 dollars in the general economy. Of course, it gets taxed, but it also generates revenue/profit.
different business can multiply that dollar differently. Generally speaking, a dollar can become 5-6 dollars in the general economy. Of course, it gets taxed, but it also generates revenue/profit.
Question.
Does the IRS actually have a way to E-File, or is it just pointing to different tax agencies that will do it for you?
I did it with H&R block last year, except I went up to their office and paid something like a $50 transaction fee. Got my returns two weeks later, though.
I didn't make $28,000 in gross income last year, so maybe I can do it for free with H&R this time online. I was just wondering if the IRS has their own services.
Does the IRS actually have a way to E-File, or is it just pointing to different tax agencies that will do it for you?
I did it with H&R block last year, except I went up to their office and paid something like a $50 transaction fee. Got my returns two weeks later, though.
I didn't make $28,000 in gross income last year, so maybe I can do it for free with H&R this time online. I was just wondering if the IRS has their own services.
ZugZug said:
ding ding
*edit... I also forgot the dead tax
like when you inherit monies and you pay taxes on that monies while at the same time the guy who is dead also has taxes filed on that exact same reveue that he got off his monies that year so in that case you pay twice , once for the dead guys earnings then for you recieving it, cause gee after all he's dead and he won't use it.
there are probably more but since I am at work and my mind is supposedly occupied by $link instead of $bling then I better get back to it.
Last edited: