View Poll Results: How did you come out for the 2013 tax year?

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  • Overall I paid in more than 50% in taxes.

    2 6.90%
  • Overall I paid in more than 20% but less than 50%.

    13 44.83%
  • Overall I paid less than 20% but more than 10%.

    4 13.79%
  • Overall I paid less than 10% but more than 5%

    2 6.90%
  • Overall I paid less than 5% but more than 0%

    1 3.45%
  • Overal I didn't pay any taxes.

    7 24.14%
  • I am just guessing. I didn't calculate it. I could be lying.

    1 3.45%
  • I calculated it my answer. My answer is true.

    3 10.34%
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Thread: April 15th is over. How did you come out for the 2013 tax year?

  1. #11
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    Re: April 15th is over. How did you come out for the 2013 tax year?

    Quote Originally Posted by molten_dragon View Post
    The 10% is the actual rate at which we were taxed, not our tax bracket.
    I gotcha. What was the tax rate?

  2. #12
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    Re: April 15th is over. How did you come out for the 2013 tax year?

    Quote Originally Posted by vasuderatorrent View Post
    I have done that but I can only reduce my FITW to $0.00. Social Security and Medicare cannot be reduced. The federal government will still take out 7.65% no matter what your tax situation is.

    There is a way to get Advanced Earned Income Credit. I have done that before but I worked at a bigger company. The company I work for is very small and probably 9 out of 10 of them are eligible for Advanced Earned Income Credit. They probably wouldn't be comfortable doing it.

    If you notice that in the scenario I combined Federal Income Tax, Social Security Tax and Medicare tax all as one tax since in reality that is what it is. I have done payroll before. The company writes one check for all 5 of these taxes.

    1. Federal Income Tax
    2. Social Security (employee portion)
    3. Social Security (employer portion)
    4. Medicare (employee portion)
    5. Medicare (employer portion)

    All five of these are added up together and sent to the Federal government in one lump sum for all five of these taxes.
    What I'm focused on is your refund. I'm guessing that even if you're getting EIC that would only account for about half, at most, of your refund amount.

  3. #13
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    Re: April 15th is over. How did you come out for the 2013 tax year?

    Quote Originally Posted by Lutherf View Post
    What I'm focused on is your refund. I'm guessing that even if you're getting EIC that would only account for about half, at most, of your refund amount.
    Give me a few minutes. I'll give you a breakdown.

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    Re: April 15th is over. How did you come out for the 2013 tax year?

    None of your business.



  5. #15
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    Re: April 15th is over. How did you come out for the 2013 tax year?

    Quote Originally Posted by DA60 View Post
    None of your business.


    I knew that I'd run into that answer sooner or later.

  6. #16
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    Re: April 15th is over. How did you come out for the 2013 tax year?

    Quote Originally Posted by vasuderatorrent View Post
    You are right about $774. $735.79 of that was held against my will. The income was not from a job and the taxes were held up front no matter what I thought about the situation.

    Without signing up for Advanced Earned Income Credit I really only had $38.21 too much withheld.

    Ah. So you must be married.

    Hmm...you mentioned that the income wasn't from a job. Are you being subjected to backup withholding on a 1099?

  7. #17
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    Re: April 15th is over. How did you come out for the 2013 tax year?

    Quote Originally Posted by vasuderatorrent View Post
    I knew that I'd run into that answer sooner or later.
    I am not offended...no harm in asking...just stating what I think.

  8. #18
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    Re: April 15th is over. How did you come out for the 2013 tax year?

    Close to 25% after the home, kid and wife deductions for federal. Add in state sales and property tax and I pay roughly 35% of my income in taxes.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  9. #19
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    Re: April 15th is over. How did you come out for the 2013 tax year?

    Quote Originally Posted by Lutherf View Post
    What I'm focused on is your refund. I'm guessing that even if you're getting EIC that would only account for about half, at most, of your refund amount.
    Job 1 $15,832.92
    Job 2 $13,504.81
    Additional income $3,678.93

    Job 1 Social Security $981.64
    Job 2 Social Security $837.80
    Job 1 Medicare $229.58
    Job 2 Medicare $195.82
    Job 1 Federal Income Tax Withheld $38.03
    Job 2 Federal Income Tax Withheld $0.00
    Additional income Federal Income Tax Withheld $735.79

    Federal tax ($523.00)
    Child Tax Credit $523.00
    Additional tax ($368.00)
    Earned Income Credit $3,233.00
    Additional Child Tax Credit $1,477.00

    I hope you can follow all of these figures.

  10. #20
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    Re: April 15th is over. How did you come out for the 2013 tax year?

    Quote Originally Posted by ksu_aviator View Post
    sales and property tax
    These weren't part of the equation. There is a reason that I referenced April 15. Also, you should have chosen option number 7 as well. You are allowed to choose more than one answer.

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