View Poll Results: How did you come out for the 2014 tax year?

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  • Overall I paid more than 50% in taxes.

    1 11.11%
  • Overall I paid more than 20% but less than 50% in taxes.

    4 44.44%
  • Overall I paid more than 10% but less than 20% in taxes.

    1 11.11%
  • Overall I paid more than 5% but less than 10% in taxes.

    3 33.33%
  • Overall I paid more than 0% but less than 5% in taxes.

    1 11.11%
  • Overall I didn't pay any taxes.

    4 44.44%
  • I am just guessing. I didn't calculate. I could be lying.

    0 0%
  • I calculated my answer. My answer is true.

    3 33.33%
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Thread: April 15th is over. How did you come out for the 2014 tax year?

  1. #1
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    April 15th is over. How did you come out for the 2014 tax year?

    Wait for the poll.

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    Re: April 15th is over. How did you come out for the 2014 tax year?

    No offense but that is none of your business.
    'What kind of sick and twisted toy factory is this?'
    'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
    "Better to be dead and cool, than alive and uncool."

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    Re: April 15th is over. How did you come out for the 2014 tax year?

    Here is my personal situation:

    Income from all sources = $39,836.66
    Federal Income tax, Social Security taxes, Medicare taxes and mandatory insurance payments = $3,673.96
    Federal Refund = $1,938.00
    North Carolina Income tax = $525.00
    North Carolina refund = $0.00
    North Carolina tax due = $650.00


    My federal taxes were at an effective rate of 4.4%
    My state taxes were at an effective rate of 2.9%
    My overall effective tax rate was 7.3%

    The Supreme Court declared that the Affordable Care Act was a tax. If you disagree with the Supreme Court's assertion then please let me know. I can redo the calculation based on the assumption that mandatory insurance is not a tax.
    Last edited by sweetpea; 04-24-15 at 10:23 AM.

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    Re: April 15th is over. How did you come out for the 2014 tax year?

    My refund was reduced by $600.00 exactly because of the miscalculation of my income when I signed up through the exchange.

    Wow! I didn't look at form 8962 until now. It seems that I was rewarded for miscalculating my income. My subsidy was off by $843 but I only had to make up the $600. $600 is the maximum. It seems the government is rewarding people for estimating their income to be really low. It makes sense why they would do that but it will backfire once everybody catches on.

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    Re: April 15th is over. How did you come out for the 2014 tax year?

    Still waiting for my tax guy to finish my return. He took on too much this year and had to file extensions for over 100 of his clients. But in spite of all that, he's still the best in the area. He's a former tax auditor, so he knows all the ins and outs of filing. When we first started going to him, he asked for our previous year's return and re-did gratis. Got us almost $1000 back and we were using Turbo Tax to file. We handed him the last 6 years returns he saved us thousands of dollars. I'll happily pay that $153 I pay him to do my taxes.
    Our nation has not always lived up to its ideals, yet those ideals have never ceased to guide us. They expose our flaws, and lead us to mend them. We are the beneficiaries of the work of the generations before us and it is each generation's responsibility to continue that work. - Laura Bush

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    Re: April 15th is over. How did you come out for the 2014 tax year?

    Taxes
    We pay about $1.900 in nuisance and school, borough, and county taxes .
    There is no escape , everything, whether wanted or not, is paid via taxes ..
    Using the tedious and ultra slow "Turbo-Tax" I saved about $50; the other lousy internet tax prep "service" refused to allow me to use PA's tax forgiveness .
    Nex year, I'll use the long forms .. much quicker and easier. The internet can go to hell , in this area !

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    Re: April 15th is over. How did you come out for the 2014 tax year?

    Quote Originally Posted by sweetpea View Post
    Here is my personal situation:

    Income from all sources = $39,836.66
    Federal Income tax, Social Security taxes, Medicare taxes and mandatory insurance payments = $3,673.96
    Federal Refund = $1,938.00
    North Carolina Income tax = $525.00
    North Carolina refund = $0.00
    North Carolina tax due = $650.00


    My federal taxes were at an effective rate of 4.4%
    My state taxes were at an effective rate of 2.9%
    My overall effective tax rate was 7.3%

    The Supreme Court declared that the Affordable Care Act was a tax. If you disagree with the Supreme Court's assertion then please let me know. I can redo the calculation based on the assumption that mandatory insurance is not a tax.

    all i will say is that we paid more in federal than you made in the year......much more
    “Most of the shadows of this life are caused by standing in one's own sunshine.”

    Ralph Waldo Emerson

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    Re: April 15th is over. How did you come out for the 2014 tax year?

    Quote Originally Posted by gdgyva View Post
    all i will say is that we paid more in federal than you made in the year......much more
    50% in income taxes? You must live in California.

  9. #9
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    Re: April 15th is over. How did you come out for the 2014 tax year?

    Quote Originally Posted by sweetpea View Post
    50% in income taxes? You must live in California.
    20-50%

    and not Ca.
    “Most of the shadows of this life are caused by standing in one's own sunshine.”

    Ralph Waldo Emerson

  10. #10
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    Re: April 15th is over. How did you come out for the 2014 tax year?

    Between 20% and 50% on income.

    NJ

    Property was also reassessed during the year and increased $800 to $13,000.
    “Now it is not good for the Christian’s health to hustle the Aryan brown,
    For the Christian riles, and the Aryan smiles and he weareth the Christian down;
    And the end of the fight is a tombstone white with the name of the late deceased,
    And the epitaph drear: “A Fool lies here who tried to hustle the East.”

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