Obamacare just ruined my life

[TemplarKormac]

None of which has any bearing on how much money you're going to make this year vs. last year.

ASSHOLE ALERT TRIPPED.

(namecalling only makes you look like a douche)

As a resident of Suffolk County, I can guarantee that the previous year's income determines the property taxes paid, the rules and regulations of such that are modified according to the zoning.

Your income is not a factor in the equation.

Suffolk County Tax Act :: 2006 New York Code :: US Codes and Statutes :: US Law :: Justia

Google Fu huh? Clever.

Internal Revenue Manual

20.1.3.2.1.1 (03-31-2010)
Determining the Required Annual Payment

1. Taxpayers must pay the lesser of 90% of tax shown on the current year's return, or the specified percentage of the tax shown on the preceding taxable year’s return as their required annual payment.

2. For taxpayers whose adjusted gross income in the preceding taxable year was $150,000 or less ($75,000 if married filing separately) the specified percentage is 100%.

3. For taxpayers whose adjusted gross income in the preceding taxable year was in excess of $150,000 ($75,000 if married filing separate) the specified percentage is found in the table below.


If the preceding taxable year began in: The specified percentage is:
2002 or thereafter 110%
2001 112%
2000 110%
1999 108.6%
1998 105%
1994 through 1997 110%

In the case of an estate or trust, adjusted gross income is determined as provided in IRC section 67(e). See instructions for line 15b, Form 1041.

Preceding taxable year’s tax refers to the tax shown on the taxpayer’s original return, or shown on an amended return for the previous year if filed prior to the due date for that year, including extensions.

20.1.3.2.1.1.1 (03-31-2010)
Special Rule for Tax Periods Beginning in 2009

1. Section 6654(d)(1)(D) provides for a lower required annual payment for certain small business taxpayers. See Treas. Reg. Section 1.6654-2T.

2. For tax periods beginning in 2009, certain small business taxpayers are required to pay only 90% (in lieu of 100% or 110%) of the preceding taxable year's tax if the following qualifications are met:

1. The taxpayer's adjusted gross income for the taxable year beginning in 2008 was less than $500,000 ($250,000 if married filing separately for the year beginning in 2009).

2. The taxpayer certifies that more than 50% of the gross income shown on the return for the year beginning in 2008 was income from a small business, defined as a trade or business in which the taxpayer was an owner in calendar year 2009, and that averaged fewer than 500 employees for 2008.

The taxpayer certifies that the qualification under 2) above has been met by checking box F on Form 2210, or box C on Form 2210-F. Form 2210 or Form 2210-F with the appropriate box checked should be filed with the return. If Form 2210 or Form 2210-F is filed separately, it should be accompanied by a signed statement that the information on the form is true and correct.

Given that this covers into Small Businesses and the like, I believe his income is an equation in the formula they use to calculate their income taxes. Given the simple aspect that his employer still is required to file two separate returns, I'd wager they adhere to the Federal Tax Code as well as the State of Virginia's.



Google Fu? You are no match for it.

 

[asterism]

Read the links will you?

Sure.

General Rule
In most cases, you must pay estimated tax for 2013 if both
of the following apply.
1. You expect to owe at least $1,000 in tax for 2013,
after subtracting your withholding and refundable credits.
2. You expect your withholding and refundable credits
to be less than the smaller of:
a. 90% of the tax to be shown on your 2013 tax return,
or
b. 100% of the tax shown on your 2012 tax return.
Your 2012 tax return must cover all 12 months.

http://www.irs.gov/pub/irs-pdf/f1040es.pdf

See that? Anyone that expects their withholding to be less than the tax paid on their 2012 tax return does not have to pay estimated tax. Although if they expect to owe at least $1000, then they have to pay the amount they expect to owe or else they will incur penalties (but that's not in this handout, that comes when one is audited).

Really, don't play google-fu against experience. I was unclear about the math presented, he clarified, and it's all good. It's a shitty situation and one of the effects of Obamacare and none of the left give a shit about.

But please if you want to talk taxes some more, go for it.

Simple question, why are you ignoring someone speaking from experience? One man may have experience, the other may have more. In this case, 2AD is being directly effected by this. So what gives him reason to lie about something like this? I get the implication you are calling him a liar to his face.

I never said he lied. I was unclear about what he said and he clarified it for me. He then said something I know is false and he had some words for me. Then you jumped in and showed that you didn't even read (or you didn't understand) your own link.

 

[asterism]

As a resident of Suffolk County, I can guarantee that the previous year's income determines the property taxes paid, the rules and regulations of such that are modified according to the zoning.

Your income is not a factor in the equation.

Suffolk County Tax Act :: 2006 New York Code :: US Codes and Statutes :: US Law :: Justia

Google Fu huh? Clever.

Internal Revenue Manual

20.1.3.2.1.1 (03-31-2010)
Determining the Required Annual Payment

1. Taxpayers must pay the lesser of 90% of tax shown on the current year's return, or the specified percentage of the tax shown on the preceding taxable year’s return as their required annual payment.

2. For taxpayers whose adjusted gross income in the preceding taxable year was $150,000 or less ($75,000 if married filing separately) the specified percentage is 100%.

3. For taxpayers whose adjusted gross income in the preceding taxable year was in excess of $150,000 ($75,000 if married filing separate) the specified percentage is found in the table below.


If the preceding taxable year began in: The specified percentage is:
2002 or thereafter 110%
2001 112%
2000 110%
1999 108.6%
1998 105%
1994 through 1997 110%

In the case of an estate or trust, adjusted gross income is determined as provided in IRC section 67(e). See instructions for line 15b, Form 1041.

Preceding taxable year’s tax refers to the tax shown on the taxpayer’s original return, or shown on an amended return for the previous year if filed prior to the due date for that year, including extensions.

20.1.3.2.1.1.1 (03-31-2010)
Special Rule for Tax Periods Beginning in 2009

1. Section 6654(d)(1)(D) provides for a lower required annual payment for certain small business taxpayers. See Treas. Reg. Section 1.6654-2T.

2. For tax periods beginning in 2009, certain small business taxpayers are required to pay only 90% (in lieu of 100% or 110%) of the preceding taxable year's tax if the following qualifications are met:

1. The taxpayer's adjusted gross income for the taxable year beginning in 2008 was less than $500,000 ($250,000 if married filing separately for the year beginning in 2009).

2. The taxpayer certifies that more than 50% of the gross income shown on the return for the year beginning in 2008 was income from a small business, defined as a trade or business in which the taxpayer was an owner in calendar year 2009, and that averaged fewer than 500 employees for 2008.

The taxpayer certifies that the qualification under 2) above has been met by checking box F on Form 2210, or box C on Form 2210-F. Form 2210 or Form 2210-F with the appropriate box checked should be filed with the return. If Form 2210 or Form 2210-F is filed separately, it should be accompanied by a signed statement that the information on the form is true and correct.

You are no match for it.

Read your pasted text again.

You only have to pay what you think you owe this year if it's less than last year unless you're a high earner.

 

[TemplarKormac]

Your income is not a factor in the equation.

Suffolk County Tax Act :: 2006 New York Code :: US Codes and Statutes :: US Law :: Justia

Google Fu huh? Clever.

Internal Revenue Manual

20.1.3.2.1.1 (03-31-2010)
Determining the Required Annual Payment

1. Taxpayers must pay the lesser of 90% of tax shown on the current year's return, or the specified percentage of the tax shown on the preceding taxable year’s return as their required annual payment.

2. For taxpayers whose adjusted gross income in the preceding taxable year was $150,000 or less ($75,000 if married filing separately) the specified percentage is 100%.

3. For taxpayers whose adjusted gross income in the preceding taxable year was in excess of $150,000 ($75,000 if married filing separate) the specified percentage is found in the table below.


If the preceding taxable year began in: The specified percentage is:
2002 or thereafter 110%
2001 112%
2000 110%
1999 108.6%
1998 105%
1994 through 1997 110%

In the case of an estate or trust, adjusted gross income is determined as provided in IRC section 67(e). See instructions for line 15b, Form 1041.

Preceding taxable year’s tax refers to the tax shown on the taxpayer’s original return, or shown on an amended return for the previous year if filed prior to the due date for that year, including extensions.

20.1.3.2.1.1.1 (03-31-2010)
Special Rule for Tax Periods Beginning in 2009

1. Section 6654(d)(1)(D) provides for a lower required annual payment for certain small business taxpayers. See Treas. Reg. Section 1.6654-2T.

2. For tax periods beginning in 2009, certain small business taxpayers are required to pay only 90% (in lieu of 100% or 110%) of the preceding taxable year's tax if the following qualifications are met:

1. The taxpayer's adjusted gross income for the taxable year beginning in 2008 was less than $500,000 ($250,000 if married filing separately for the year beginning in 2009).

2. The taxpayer certifies that more than 50% of the gross income shown on the return for the year beginning in 2008 was income from a small business, defined as a trade or business in which the taxpayer was an owner in calendar year 2009, and that averaged fewer than 500 employees for 2008.

The taxpayer certifies that the qualification under 2) above has been met by checking box F on Form 2210, or box C on Form 2210-F. Form 2210 or Form 2210-F with the appropriate box checked should be filed with the return. If Form 2210 or Form 2210-F is filed separately, it should be accompanied by a signed statement that the information on the form is true and correct.

You are no match for it.

Read your pasted text again.

You only have to pay what you think you owe this year if it's less than last year unless you're a high earner.

Then what happens when a business is slapped with new taxes related to Obamacare? It earns less than the previous year, meaning that it triggers what I just posted. This I assume means that the business pays more than the previous year in taxes. That means serious impact on 2ADs income as he specified. I don't post random facts just for the fun of it, asterism. That is a clever tax strategy employed by the IRS, I'll have to give them that much.

Are you a tax preparer/accountant/banker/invstor/business owner?

 

[The2ndAmendment]

Your income is not a factor in the equation.

Suffolk County Tax Act :: 2006 New York Code :: US Codes and Statutes :: US Law :: Justia

When I go to Town Hall, it certainly fucking matters.

 

[rdean]

I just received a letter from my job stating that no one will be working more than 30 hours a week.

I normally worked 48-52 hours per week generating 10 hours of regular play, and 8-12 hours of overtime time. Each hour I work averages an ADDITIONAL $ 11.25 in tips.

This means each week I will now be losing (20)(11.25) + (10)(10.50) + (10)(16.25) dollars per week.

I will now be losing an average of $ 492.50 per week.

This is nearly $ 2,000 per month.

Almost $24,000 a year ($ 23,640)

I can no longer afford my own private healthcare coverage --- thanks to Obamacare.

I will also have to find a second job, and DROP two classes at Stony Brook University.

So now I will make less money, work more hours, and it will take longer to complete my degree.

My life has been ruined by the parasites.

Obamacare just ruined my life.

You never could afford your own private healthcare coverage. Don't lie.

 

[asterism]

Google Fu huh? Clever.

Internal Revenue Manual

20.1.3.2.1.1 (03-31-2010)
Determining the Required Annual Payment

1. Taxpayers must pay the lesser of 90% of tax shown on the current year's return, or the specified percentage of the tax shown on the preceding taxable year’s return as their required annual payment.

2. For taxpayers whose adjusted gross income in the preceding taxable year was $150,000 or less ($75,000 if married filing separately) the specified percentage is 100%.

3. For taxpayers whose adjusted gross income in the preceding taxable year was in excess of $150,000 ($75,000 if married filing separate) the specified percentage is found in the table below.


If the preceding taxable year began in: The specified percentage is:
2002 or thereafter 110%
2001 112%
2000 110%
1999 108.6%
1998 105%
1994 through 1997 110%

In the case of an estate or trust, adjusted gross income is determined as provided in IRC section 67(e). See instructions for line 15b, Form 1041.

Preceding taxable year’s tax refers to the tax shown on the taxpayer’s original return, or shown on an amended return for the previous year if filed prior to the due date for that year, including extensions.

20.1.3.2.1.1.1 (03-31-2010)
Special Rule for Tax Periods Beginning in 2009

1. Section 6654(d)(1)(D) provides for a lower required annual payment for certain small business taxpayers. See Treas. Reg. Section 1.6654-2T.

2. For tax periods beginning in 2009, certain small business taxpayers are required to pay only 90% (in lieu of 100% or 110%) of the preceding taxable year's tax if the following qualifications are met:

1. The taxpayer's adjusted gross income for the taxable year beginning in 2008 was less than $500,000 ($250,000 if married filing separately for the year beginning in 2009).

2. The taxpayer certifies that more than 50% of the gross income shown on the return for the year beginning in 2008 was income from a small business, defined as a trade or business in which the taxpayer was an owner in calendar year 2009, and that averaged fewer than 500 employees for 2008.

The taxpayer certifies that the qualification under 2) above has been met by checking box F on Form 2210, or box C on Form 2210-F. Form 2210 or Form 2210-F with the appropriate box checked should be filed with the return. If Form 2210 or Form 2210-F is filed separately, it should be accompanied by a signed statement that the information on the form is true and correct.

You are no match for it.

Read your pasted text again.

You only have to pay what you think you owe this year if it's less than last year unless you're a high earner.

Then what happens when a business is slapped with new taxes related to Obamacare? It earns less than the previous year, meaning that it triggers what I just posted. This I assume means that the business pays more than the previous year in taxes. That means serious impact on 2ADs income as he specified. I don't post random facts just for the fun of it, asterism. That is a clever tax strategy employed by the IRS, I'll have to give them that much.

Are you a tax preparer/accountant/banker/invstor/business owner?

Business owner.

The new taxes have no bearing on earnings (Adjusted Gross Income or Taxable Income to be precise). If your earnings go down, you pay less in estimated taxes. If your earnings go up, you pay more. If you skip an estimated tax payment because you have a really bad quarter and then make it up because you have a really good quarter, that's fine. The major pitfall is an incredible Christmas season, because the final estimated tax payment is on December 15th but you may end up paying a penalty if a substantial amount of your earnings are realized in the last 2 weeks of December.

 

[asterism]

Your income is not a factor in the equation.

Suffolk County Tax Act :: 2006 New York Code :: US Codes and Statutes :: US Law :: Justia

When I go to Town Hall, it certainly fucking matters.

Not when it comes time to pay your property taxes.

 

[The2ndAmendment]

Your income is not a factor in the equation.

Suffolk County Tax Act :: 2006 New York Code :: US Codes and Statutes :: US Law :: Justia

When I go to Town Hall, it certainly fucking matters.

Not when it comes time to pay your property taxes.

I even get a deduction for Grandma living at my house.

What are you trying to accomplish?

You don't live here.

Low income residents get deductions off the school taxes, senior citizens more-so.

Taking on a dependent also gives you a small break, I claim grandma.

 

[TemplarKormac]

Read your pasted text again.

You only have to pay what you think you owe this year if it's less than last year unless you're a high earner.

Then what happens when a business is slapped with new taxes related to Obamacare? It earns less than the previous year, meaning that it triggers what I just posted. This I assume means that the business pays more than the previous year in taxes. That means serious impact on 2ADs income as he specified. I don't post random facts just for the fun of it, asterism. That is a clever tax strategy employed by the IRS, I'll have to give them that much.

Are you a tax preparer/accountant/banker/invstor/business owner?

Business owner.

The new taxes have no bearing on earnings (Adjusted Gross Income or Taxable Income to be precise). If your earnings go down, you pay less in estimated taxes. If your earnings go up, you pay more. If you skip an estimated tax payment because you have a really bad quarter and then make it up because you have a really good quarter, that's fine. The major pitfall is an incredible Christmas season, because the final estimated tax payment is on December 15th but you may end up paying a penalty if a substantial amount of your earnings are realized in the last 2 weeks of December.

I'm intrigued. So have you had to cut hours or make cutbacks because of Obamacare? If this doesn't apply to earnings, then can you explain what they do apply to? I hear all the time of businesses being adversely effected by it.

 

[asterism]

Then what happens when a business is slapped with new taxes related to Obamacare? It earns less than the previous year, meaning that it triggers what I just posted. This I assume means that the business pays more than the previous year in taxes. That means serious impact on 2ADs income as he specified. I don't post random facts just for the fun of it, asterism. That is a clever tax strategy employed by the IRS, I'll have to give them that much.

Are you a tax preparer/accountant/banker/invstor/business owner?

Business owner.

The new taxes have no bearing on earnings (Adjusted Gross Income or Taxable Income to be precise). If your earnings go down, you pay less in estimated taxes. If your earnings go up, you pay more. If you skip an estimated tax payment because you have a really bad quarter and then make it up because you have a really good quarter, that's fine. The major pitfall is an incredible Christmas season, because the final estimated tax payment is on December 15th but you may end up paying a penalty if a substantial amount of your earnings are realized in the last 2 weeks of December.

I'm intrigued. So have you had to cut hours or make cutbacks because of Obamacare? If this doesn't apply to earnings, then can you explain what they do apply to? I hear all the time of businesses being adversely effected by it.

We don't provide benefits (we pay our folks more and tell them why) so we are not affected by Obamacare.

Businesses that provide benefits are affected because their costs are going to go up sharply. So rather than try to plan for an unknown, they are making it a known by removing their eligibility as much as they can. It's no different than changing the policy regarding company cars when the IRS rules regarding them changed.

Of course this was all designed to fail, to create demand for a single-payer system. Our President said it himself.

[ame=http://www.youtube.com/watch?v=fpAyan1fXCE]Obama on single payer health insurance - YouTube[/ame]

 

[TemplarKormac]

So any thoughts on when 2AD said the letter from his employer explicitly cited Obamacare as a primary reason for his cut in hours?

 

[auditor0007]

The employer healthcare mandate was delayed until 2015.

Yes....but 2a's employer wants to go through the hassle of hiring a bunch of new part time workers anyway. Placing ads, interviewing, background checks, uniforms, training, HR people LOVE that shit. They love having to hire and manage two people instead of one.

Wouldn't you?

These companies will find, in the long run, that their costs will be higher with more employees.

 

[theHawk]

Well we "pub dupe liars" have been warning this is exactly what Obamacare would end up doing. Force companies to makes cuts, more people lose health care instead of getting health care.

You Obama-apologists can attack the OP all you want to try to discredit him, but everyone knows this is happening all over the country. Just keep calling us 'racist' and 'obstructionists' because that's a whole lot easier than confronting the truth --that Obama and the Democrats have fucked over the country and we've only begun to see the results. You can keep blamming corporate America and Big Business, but in the meantime the employees are left twisting in the wind.

I think there are some Democrats who are in a state of shock, not willing to acknowledge the debacle, who thought Obamacare was honestly a good thing. Then there are those who knew this was going to happen and think its a good thing--the progressive shitbags.

 

[C_Clayton_Jones]

I just received a letter from my job stating that no one will be working more than 30 hours a week.

I normally worked 48-52 hours per week generating 10 hours of regular play, and 8-12 hours of overtime time. Each hour I work averages an ADDITIONAL $ 11.25 in tips.

This means each week I will now be losing (20)(11.25) + (10)(10.50) + (10)(16.25) dollars per week.

I will now be losing an average of $ 492.50 per week.

This is nearly $ 2,000 per month.

Almost $24,000 a year ($ 23,640)

I can no longer afford my own private healthcare coverage --- thanks to Obamacare.

I will also have to find a second job, and DROP two classes at Stony Brook University.

So now I will make less money, work more hours, and it will take longer to complete my degree.

My life has been ruined by the parasites.

Obamacare just ruined my life.

What does a ‘survivalist’ need with a job and healthcare?

Weren’t you headed for the hills with your shotgun shells and Cipro to await the start of WWIII?

 

[LoneLaugher]

The employer healthcare mandate was delayed until 2015.

Yes....but 2a's employer wants to go through the hassle of hiring a bunch of new part time workers anyway. Placing ads, interviewing, background checks, uniforms, training, HR people LOVE that shit. They love having to hire and manage two people instead of one.

Wouldn't you?

These companies will find, in the long run, that their costs will be higher with more employees.

Exactly my point.

 

[LoneLaugher]

Look at this thread!

A nutter who has expressed his disdain for the less fortunate among us comes here and shits a lie about how Obamacre is forcing his employers to cut his hours.....and cause him to drop his health insurance in a lame attempt to give evidence of the harmful effects of the law.

Liberals, remembering this asshole's previous stances on income inequality, take the opportunity to jab him a little about his loser attitude when faced with adversity. Even though we know he's full of shit, we want to know why he's whining instead of hitting the bricks in search of a second job.....like a real American would.

Other nutters.....sensing an opportunity to make some lame points, begin laying into the liberals for being callous and uncaring....after mocking liberals for years bout being too emotional and too caring. Hopping on those high horses of human empathy, they rush to the OP's side. Of course, the inconsistencies in his story don't matter. They are on an emotional trip! Poor worker! Held down by the man!

Then....they start advising the poor soul....who is not a payer of federal income taxes.....to take advantage of the safety nets that they love so much to get health care and catch a break on college tuition.

Finally, a real, honest to goodness accounting guy comes in and explains some things about taxes. He does so in a very kind, even keeled manner. He is met with three dummies who begin to argue with him from an obvious disadvantage......complete with insults.

What's next?

 

[rightwinger]

Your company is fucking you because they are too cheap to provide basic health insurance

Blame Obama

 

[JoeB131]

Well we "pub dupe liars" have been warning this is exactly what Obamacare would end up doing. Force companies to makes cuts, more people lose health care instead of getting health care.

You Obama-apologists can attack the OP all you want to try to discredit him, but everyone knows this is happening all over the country. Just keep calling us 'racist' and 'obstructionists' because that's a whole lot easier than confronting the truth --that Obama and the Democrats have fucked over the country and we've only begun to see the results. You can keep blamming corporate America and Big Business, but in the meantime the employees are left twisting in the wind.

I think there are some Democrats who are in a state of shock, not willing to acknowledge the debacle, who thought Obamacare was honestly a good thing. Then there are those who knew this was going to happen and think its a good thing--the progressive shitbags.

Companies were making cuts and abusing their employees long before ObamaCare came along.


Or have you just not been paying attention for the last 30 years.

 

[asterism]

Your company is fucking you because they are too cheap to provide basic health insurance

Blame Obama

It's not always a matter of being "too cheap." Seriously, we have looked and the most basic plan we could find was about $1000 per month per employee.