Owe $996.00.
/thread
Taxes suck.
Started by DaRatmastah, Mar 22 2013 10:27 AM
15 replies to this topic
#1
DaRatmastah
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Captain Overexcited Cyclops
#2
Guest_ElatedOwl_*
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Posted 22 March 2013 - 11:25 AM
Dayum. What do you do for a living?
I got a pretty penny back. >.>
#3
Affray
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Posted 22 March 2013 - 11:30 AM
Generally if you owe money you did well enough throughout the year that you should pat yourself on the back.
I have technically been unemployed for this past year, so I am quite screwed methinks.
It is perfectly acceptable to fear and admire a being you could not possibly understand.
#4
Guest_ElatedOwl_*
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Posted 22 March 2013 - 11:39 AM
Generally if you owe money you did well enough throughout the year that you should pat yourself on the back.
I have technically been unemployed for this past year, so I am quite screwed methinks.
I'm not sure on Canadian tax, but in the states when you set up your federal withholding you can claim allowances for yourself to reduce the amount they take paycheck to paycheck. (0 for no allowance, 1-2 for) If you claim 2 you're very likely to owe, so it's not necessarily dependent on your tax bracket.
If you manage your finances well (like I don't), you're better off claiming 2 and not giving the government an interest free loan and just expecting to pay whatever amount back.
#5
Calvary
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Posted 22 March 2013 - 12:33 PM
Sounds complicated, here you just pay 0%-20%, 40% or 45% of your earnings depending on what you earn, as of 2014 the first £10,000 you make will be untaxable, at the moment it's about £8000 I think. Then you have national insurance which covers the NHS. Them's the only taxes you have to pay. Unfortunately you have to pay VAT on everything you buy too which is about 20%.
Surprised anyone has any money at all to be honest.
Ask for my discord/Insta/Tumblr if you want.
#6
DaRatmastah
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Posted 22 March 2013 - 01:17 PM
Normal job, hourly pay. Made the mistake of putting two allowances down on my w4, ended up owing without expecting it. Derp.
#7
RainKamelot
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Posted 22 March 2013 - 03:37 PM
Got 130 bucks back. Woo. Food.
#8
SpleenBeGone
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Posted 22 March 2013 - 09:25 PM
I made a cool $570. >_>
#9
Wolf
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Posted 22 March 2013 - 09:36 PM
I was claimed as a disabled dependent and got a cool half-G.
I'de much rather be in a situation where I'm paying taxes, though. 
#10
Silver_rose
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Posted 23 March 2013 - 04:12 AM
Sounds complicated, here you just pay 0%-20%, 40% or 45% of your earnings depending on what you earn, as of 2014 the first £10,000 you make will be untaxable, at the moment it's about £8000 I think.
That's fairly similar to the way things work in Australia, but they moved the tax-free threshold from $6000 to something I have no clue nor care too much about, seeing as I don't work and therefor don't recieve any tax back.
So the way things work with tax where I live is pretty good and you can get a good amount of dosh at the end of the financial year. Atleast I think it is, I'm sure there would be some that would have a moan about it.
Because I can...
#11
Affray
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Posted 23 March 2013 - 09:28 AM
I was claimed as a disabled dependent and got a cool half-G.
I'de much rather be in a situation where I'm paying taxes, though.
It sounds so much more awesome when you say you got a cool half-G.
Yes.
It is perfectly acceptable to fear and admire a being you could not possibly understand.
#12
Wolf
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Posted 23 March 2013 - 06:23 PM
It sounds so much more awesome when you say you got a cool half-G.
Yes.
Everything's cooler when you say it like a G
#13
SIlhouette
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Posted 24 March 2013 - 02:38 AM
That's fairly similar to the way things work in Australia, but they moved the tax-free threshold from $6000 to something I have no clue nor care too much about, seeing as I don't work and therefor don't recieve any tax back.
So the way things work with tax where I live is pretty good and you can get a good amount of dosh at the end of the financial year. Atleast I think it is, I'm sure there would be some that would have a moan about it.
Its something like $12000 at the moment, I just managed to scrape underneath not sure when I need to declare tax though, forgot what date is what, hope I didnt miss it or I will lose about $1500.
#14
MrSandman
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Posted 27 March 2013 - 12:54 PM
I get 1200$ back in tax because I have paid to much last year, score!
#15
SushiKitten
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Posted 27 March 2013 - 12:58 PM
I'm so glad I don't have to deal with taxes for a few years, my dad just does the whole family. I'll be so lost when I get too old for that and I have to do it myself.
#16
Guest_ElatedOwl_*
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Posted 27 March 2013 - 01:05 PM
I'm so glad I don't have to deal with taxes for a few years, my dad just does the whole family. I'll be so lost when I get too old for that and I have to do it myself.
I don't know how much Canada differs but it's really easy in the US (assuming you're not self-employed, have a bunch of write-offs or other tax oddities). More or less copying values from form A to form B and filling in a few blanks here and there.
