Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Didn't pay her taxes
Old 03-08-2007, 08:34 AM   #21
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,156
Re: Didn't pay her taxes

Another problem for Skipper's friend would be the Social Security taxes for the period. If she was self-employed receiving 1099's in the monthly range Skipper described, she will be on the hook for 15% of all the money received during those years, regardless of what her income tax may work out to be for those years.

I agree that she needs a lawyer.
__________________

__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Didn't pay her taxes
Old 03-08-2007, 08:38 AM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Didn't pay her taxes

The good news is that she'll be able to learn some LBYM methods during her jail time.

Chalk up another one to add to the file on how it is that I have so much trouble with such simple things some times, yet others just sail through life doing whatever they damn well please and years go by without anything bad happening to them.
__________________

__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 08:44 AM   #23
Thinks s/he gets paid by the post
Outtahere's Avatar
 
Join Date: Sep 2005
Posts: 1,677
Re: Didn't pay her taxes

My BIL did the same thing, as a sales person he was paid like the nurse is, he sailed through life for a while not paying taxes either. It all caught up with him and he was hit pretty hard, hid that from my sister until after they were married. She ended up bailing him out and then taking control of the finances.
__________________

Dogs aren't our whole lives, but they make our lives whole. - Roger Caras
Outtahere is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 08:50 AM   #24
Recycles dryer sheets
perinova's Avatar
 
Join Date: Apr 2006
Posts: 424
Re: Didn't pay her taxes

They should modify the system so that most people wouldn't have to file anything.
Think about it the govt receives all the data and can put it all together. They also know the tax laws a lot more than the people filing. They should send you the form filled out with a check or a bill.

The tax laws can easily be modified for that.
__________________
perinova is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 09:02 AM   #25
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Houston
Posts: 1,435
Re: Didn't pay her taxes

Quote:
Originally Posted by perinova
They should modify the system so that most people wouldn't have to file anything.
Think about it the govt receives all the data and can put it all together. They also know the tax laws a lot more than the people filing. They should send you the form filled out with a check or a bill.

The tax laws can easily be modified for that.
Yeah but then they will start charging for this service that they are providing, and so I'll end up paying to have my taxes prepared twice. Once by the IRS, and again by someone competent to do them correctly.
__________________
soupcxan is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 12:20 PM   #26
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Re: Didn't pay her taxes

Quote:
Originally Posted by perinova
They should modify the system so that most people wouldn't have to file anything.
Think about it the govt receives all the data and can put it all together. They also know the tax laws a lot more than the people filing. They should send you the form filled out with a check or a bill.

The tax laws can easily be modified for that.
I just thought of something that I never heard anyone ever mention before. How about eliminating all federal income taxes and replacing it with a national property tax.

Your city or town already assesses your property value and you already pay local real estate taxes.

Why not have the federal, and state for that matter, just assess you in the same way? Everyone except the homeless (who don't pay taxes anyway) would pay.

No more tax returns, no more saving receipts, no more audits, all transparant, no more guessing at what your taxes may be, no more surprise AMT.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 12:32 PM   #27
Thinks s/he gets paid by the post
MasterBlaster's Avatar
 
Join Date: Jun 2005
Posts: 4,359
Re: Didn't pay her taxes

retire@40:

well taxing only property may or may not be as equitable as you first imagine.

Should struggling farmers pay loads of taxes

Should millionaire renters in Manhatten pay nothing ??

The idea is to tax income and have it graduated on an ability to pay scale. The problem is in the details.

Per the related idea to tax wealth rather than income the thinking is... is that wealth(real estate aside) is mobile so if you tax the wealth (capital) then you will tend to drive it away. Having capital around tends to produce jobs that are deemed to be valuable to a society. Having capital around sometimes allows for others to accumulate capital. Taxing wealth therefore may not be a desirable choice. Clearly there are exemptions to this rule such as the estate tax and property tax.

For what it is worth, Hillary Clinton (and others) has floated the concept of wealth taxation as a means to level income disparity.

__________________
MasterBlaster is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 01:03 PM   #28
Recycles dryer sheets
perinova's Avatar
 
Join Date: Apr 2006
Posts: 424
Re: Didn't pay her taxes

Quote:
Originally Posted by Masterblaster
Should millionaire renters in Manhatten pay nothing ??
Contrary to common belief renters are actually paying property tax too. However it is included in the rent.
Don't you think that landlord are passing on the property tax into the rent? They do! (as well as all other landlord costs).

Farmers have agg exemptions for property taxes.

I agree with you, the property tax is not a just tax and should be eliminated all together and replaced with Sales Tax (or some say a Gross Receipt Taxes is better?) and Income Tax.
__________________
perinova is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 02:08 PM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,287
Re: Didn't pay her taxes

Quote:
Originally Posted by perinova
They should modify the system so that most people wouldn't have to file anything.
Think about it the govt receives all the data and can put it all together. They also know the tax laws a lot more than the people filing. They should send you the form filled out with a check or a bill.

The tax laws can easily be modified for that.
Interesting... this is just what the UK does... if you don't make a lot, they figure out your taxes... but (and don't quote me on this as I am not sure)... I don't think they tax capital gains and some other things we tax... so it is much easier for them to do... I think the cutoff was in the 40K pound range... someone from the UK??
__________________
Texas Proud is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 02:09 PM   #30
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,199
Re: Didn't pay her taxes

Quote:
she'll be able to learn some LBYM methods during her jail time.
Lesbian Bitch, You're Mine.
__________________
Al
TromboneAl is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 02:36 PM   #31
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Re: Didn't pay her taxes

Quote:
Originally Posted by Masterblaster
...Should struggling farmers pay loads of taxes

Should millionaire renters in Manhatten pay nothing ??...
Simple solution. There would be a different rate for farmland than there would be for a personal residence. The point is that it would be easy and transparent, just like the local real estate taxes are in your town. All property assessments would be made available online for everyone to view. Impossible to cheat.

Millionaire renters would not escape the property tax either since the cost of the tax would be built into their rent, just like it is now for all renters anyway.

The more I think about this, the better it sounds. I don't see any downside.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 02:41 PM   #32
Recycles dryer sheets
perinova's Avatar
 
Join Date: Apr 2006
Posts: 424
Re: Didn't pay her taxes

The upside is a predictable income stream from the government.
The downside is that if you loose your job, retire, become invalid you would have to sell your property very fast not to go into bankrupcy.

It is a lot easier for the govt to go into debt than for individuals so an income tax is a lot better for everyone. Including the economy, because with a property tax, in bad time you would have no money left for expenditures and this would put the economy further into recession.

Perinova. Would be economist. ER wannabe
__________________
perinova is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 03:45 PM   #33
Thinks s/he gets paid by the post
MasterBlaster's Avatar
 
Join Date: Jun 2005
Posts: 4,359
Re: Didn't pay her taxes

Quote:
Originally Posted by retire@40
Simple solution. There would be a different rate for farmland than there would be for a personal residence. The point is that it would be easy and transparent, just like the local real estate taxes are in your town. All property assessments would be made available online for everyone to view. Impossible to cheat.

Millionaire renters would not escape the property tax either since the cost of the tax would be built into their rent, just like it is now for all renters anyway.

The more I think about this, the better it sounds. I don't see any downside.
Well I'd go for your property tax scheme only if taxes are due on election day.
__________________
MasterBlaster is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 04:43 PM   #34
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Re: Didn't pay her taxes

Quote:
Originally Posted by perinova
The upside is a predictable income stream from the government.
The downside is that if you loose your job, retire, become invalid you would have to sell your property very fast not to go into bankrupcy.

It is a lot easier for the govt to go into debt than for individuals so an income tax is a lot better for everyone. Including the economy, because with a property tax, in bad time you would have no money left for expenditures and this would put the economy further into recession.
Good points, but again there are some simple stopgaps or permanent solutions for the items you mentioned.

Lose Your Job: When you lose your job, you collect unemployment benefits to help pay the taxes.

Retire: If you don't have enough money to retire, why would you retire? Again, maybe for those starting social security could get a lower property tax rates. Totally transparent for all to see, everyone gets treated the same way at retirement.

Become Invalid: Reduction in full or in part for anyone who does not have the mental and/or physical capacity to work. Again, since everyone can see what you are paying in property taxes, you friends and neighbors would not take to kindly if you were "faking" a problem to get this reduced benefit. They would help police the system.



__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 04:52 PM   #35
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Re: Didn't pay her taxes

Quote:
Originally Posted by Masterblaster
Well I'd go for your property tax scheme only if taxes are due on election day.
That's the beauty of my scheme system. Taxes would be payable on the first Tuesday after the first Monday of each month.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 05:12 PM   #36
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Didn't pay her taxes

Quote:
Originally Posted by skipper
I have a friend who is considered self-employed.
Silly afterthought question since you couched it this way...is what she does for a living considered a legal activity in most states?
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 07:42 PM   #37
Thinks s/he gets paid by the post
 
Join Date: Apr 2006
Posts: 1,487
Re: Didn't pay her taxes

Quote:
I just thought of something that I never heard anyone ever mention before. How about eliminating all federal income taxes and replacing it with a national property tax.
this is actually an idea that was promoted many years ago (perhaps 100?) ... can't recall all the detail (no, i wasn't there to witness it first hand), but there are many second-order effects which were then touted as being quite beneficial. i'd guess the higher order effects could not be correctly anticipated.
__________________
d is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 08:40 PM   #38
Dryer sheet wannabe
 
Join Date: Jan 2006
Posts: 13
Re: Didn't pay her taxes

Silly afterthought question since you couched it this way...is what she does for a living considered a legal activity in most states?

Not sure if you are joking or not. But, yes, she is employed by an agency
as a travel nurse. Travel nurses usually work a 13 week contract in a hospital.
They can work in any state.

Don't know why the agency doesn't withhold taxes. I guess she didn't fill
out the paperwork.
__________________
skipper is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-08-2007, 09:50 PM   #39
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,936
Re: Didn't pay her taxes

Quote:
Originally Posted by skipper
Don't know why the agency doesn't withhold taxes. I guess she didn't fill
out the paperwork.
If she was a 1099 employee they don't have to.
__________________
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Re: Didn't pay her taxes
Old 03-09-2007, 12:09 AM   #40
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Didn't pay her taxes

Quote:
Originally Posted by skipper
Not sure if you are joking or not. But, yes, she is employed by an agency
as a travel nurse.
Nope, wasnt joking. Somewhere between being "considered self employed", not paying taxes, and thinking that wasnt a big deal, I figured perhaps her income was conceived through questionable means. Nursing doesnt fall into that category.
__________________

__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Military pension and pay - how much is it past 20 Average Joe FIRE and Money 13 03-18-2007 11:22 AM
Reserves/NG and the 40-year pay tables Nords FIRE and Money 9 02-15-2007 11:12 PM
Prepaying real estate taxes for SEVERAL future years? MooreBonds FIRE and Money 16 01-25-2007 06:40 PM
How much in taxes will I pay? buzz FIRE and Money 11 07-04-2006 10:11 AM
Take Severance Pay and Run? BigMoneyJim Other topics 10 08-18-2003 08:31 PM

 

 
All times are GMT -6. The time now is 10:40 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.