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

How did you come out for the 2014 tax year?

  • Overall I paid more than 50% in taxes.

    Votes: 1 11.1%

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

    Votes: 4 44.4%

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

    Votes: 1 11.1%

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

    Votes: 3 33.3%

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

    Votes: 1 11.1%

  • Overall I didn't pay any taxes.

    Votes: 4 44.4%

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

    Votes: 0 0.0%

  • I calculated my answer. My answer is true.

    Votes: 3 33.3%
  • Total voters
    9
  • Poll closed .
S

sweetpea

Banned
Joined
Apr 24, 2015
Messages
15
Reaction score
8
Gender
Undisclosed
Political Leaning
Very Conservative
Wait for the poll.
 
No offense but that is none of your business.
 
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:
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.
 
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.
 
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 !
 
sweetpea said:
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.
Click to expand...


all i will say is that we paid more in federal than you made in the year......much more
 
gdgyva said:
all i will say is that we paid more in federal than you made in the year......much more
Click to expand...

50% in income taxes? You must live in California.
 
Between 20% and 50% on income.

NJ

Property was also reassessed during the year and increased $800 to $13,000.
 
We got more back than we paid in total. We also are a married couple, with two kids, both of us in school, both working, and with two sources of military income from last year, making less than $35K.
 
I paid no income tax but I did pay federal and state excise taxes and state sales tax - I entered paying no overall taxes in the poll.
 
I didn't pay any taxes.

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I paid my fair share, but I also got a lot back because I worked a lot of overtime, which is taxed heavily when you get paid but comes back to you come tax time.
 
It was OK, but this year will be really good, I upped my 401(K), and have been accelerating mortgage payments.
 
The Feds, NY state and my local government all got their pound of flesh.
 
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