jc456
Diamond Member
- Dec 18, 2013
- 139,520
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Anyone who has deductions is allowed to write off their deductions. what's your problem?the devil is always in the details...so, it is not the progressive tax rates that are the problem or the Devil, but it is the behind the scenes fine print tax CODES for write offs....the things good tax accountants read and utilize for their clients.actually, Ive learned to keep from paying "my fair share" also. I pay way less over the year than I probably should, the trick is at the end of the year being able to justify the lower amounts paid and not have to write a check to the IRS. I have an accountant that is pretty good at doing that for us.and when you are able to demonstrate your privilege to seeing President Elect Trumps returns, Im guessing that you will be able to exert your authority and demand that they be delivered directly to your desk for review.
Mdpatsy has gotten so used to getting fucked.....he kind of likes it now. LOL
For example, todays paycheck For last weeks work. (if you want to call what I do work)
Gross was 1727.19
Federal W/H(M/5) 61.95
Medicare 25.04
Social Security 107.09
Maryland State W/H(M/5) 49.16
AA county, MD Res.Location 25.87
No additional deductions
Net Pay was 1458.08
So Im looking at just a bit less than 16% with all taxes and contributions combined. ( the biggest number being social security)
accountant says I might be able to work the numbers at years end and actually get a refund too.
All of this is legal, nothing sketchy involved. It is nothing more than me playing by the rules that come directly from the IRS.
why shouldnt Donald Trump, or anyone else for that matter, try and reduce the amount of payments to the U.S government. Im certain that If I could afford Trumps accountant I would be able to pay zero and most likely get back from the EITC.
I wish I would have had this tax guy back when I was actually making money before I retired from that job. Only reason I have him now is because the tax guy I had used for the last 20 years died. No warning, just one year there doing my taxes, next year? dead. I found it fairly rude on his part to just up and quit without notifying us first that he would be moving on
They are not illegal, they are part of the 15ft high paper sheets of our tax code and what businesses and mostly rich people can write off so that someone in the 39% tax bracket only ends up paying an effective tax rate of 10%...
60-65% of Americans file the IRS short form, taking no Schedule A deductions and do not get to utilize these tax breaks given in the tax code....
the tax CODE is what needs reforming, not necessarily the tax rates....imho.