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tax confusionso this week i got about a hundred dollars taken out of my paycheck for taxes. WTF? i’ve never had that much taken out before. Y-T-D i’ve paid about three hundred dollars in taxes on my brighton rec paychecks. will i get any of that back when i file my taxes? ETA: TAXES AND DEDUCTIONS (01/18/08) TAXES AND DEDUCTIONS (07/18/08) |
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Welcome to the tax paying world!! 18-40% of your pay will go to the government, depending on how much you make in a year.
George Harrison was inspired to write “Taxman” when he discovered how much he was earning after accounting for taxes. As Harrison said, “‘Taxman’ was when I first realized that even though we had started earning money, we were actually giving most of it away in taxes.” It was and still is typical.
A couple weeks ago you asked about the tax exempt form they handed you and I said you are no longer exempt from paying taxes, you will earn over $4000 a year, you are over “free limit”, and you are still a dependent due to being in school. So until you are 25 and still poor (which you will never be!) the government says no specials breaks for you.
So you earn $1.00 you end up giving .50 away in some type of taxes before you are done with that dollar.
blah. so i just give all this money to the government and don’t benefit from any of it? boo.
Welcome to the middle class! We do the work, make the money and the government takes half of it to give to everyone else. The poor have no money of their own so they get it from the government and the rich have ways of not paying taxes so the government has to get it from the only ones left, us.
gah. well, i guess i’ll have to get used to it.