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Do you pay income taxes?

It recently occurred to me that saying "I don't want MY tax money to go to ______" is completely pointless. Because I don't pay income taxes. I mean...I DO pay them....but I end up making back MORE than I paid in. It is just me and my 1 child (a 3 yr old), I work a full-time job, receive no assistance, I have a house, once a month I pay for daycare for ONE day (my child does not go more than that..only because I have a meeting), I have student loans, and I give $ to my church<--all of these things are write-offs (letting you know WHY I put them there...this is not a brag session:P). I make ~24K a year. I pay ~2K in taxes, and get back about 5K. So MY taxes only go into MY pocket....they pay for nothing that the gov't does (excluding the 'interest' they may get from using my money throughout the year). So...what's your story??

Answer Question
 
Anonymous

Asked by Anonymous at 9:32 PM on Nov. 18, 2009 in Money & Work

Answers (7)
  • Yes. We pay personal income tax and also corporate taxes since we own a business. We 1099 ourselves to file our corporate taxes by March 15th and pay both personal and corporate taxes then instead of paying little bits through the year. I estimate we'll owe around $30,000 in federal income taxes this year. I live in Nevada where we don't have a state income tax.

    That being said, I would like to see MY taxes go to education and health care instead of wars.
    JulieJacobKyle

    Answer by JulieJacobKyle at 9:40 PM on Nov. 18, 2009

  • OP here: wow....so you pay more in taxes than I make in income! Hope your business is going well!
    Anonymous

    Answer by Anonymous at 9:50 PM on Nov. 18, 2009

  • My husband is a house repo man and Nevada still leads the country in foreclosures, so for now, things are busy! Nevada has had the highest numbers of foreclosures for 34 months in a row now. The national average is 1 in every 385 homes going into foreclosure. Here it's 1 in every 68.
    JulieJacobKyle

    Answer by JulieJacobKyle at 10:12 PM on Nov. 18, 2009

  • We paid in 70k last year in taxes and got nothing back. We actually pay more than our fair share.
    Anonymous

    Answer by Anonymous at 11:26 PM on Nov. 18, 2009

  • Yup---and we make good money so we are taxed to death. I hate paying for other people's stuff!
    Anonymous

    Answer by Anonymous at 12:55 AM on Nov. 19, 2009

  • You do get assistance....to the tune of about $3K/year....from the government if you're getting back more than what you paid in. Probably that patronizing earned income credit.

    I pay in way more than I get back....single mom...2 kids...making a good salary.
    halfpint_ny

    Answer by halfpint_ny at 6:00 AM on Nov. 19, 2009

  • No. After deductions we tend to get about 9K back. Although I am hoping that will change over the next year - not that I want to have to pay taxes, just that I would like our income to about double in 2010. Now that DH will be home full time, there is no reason that can't happen!
    SabrinaMBowen

    Answer by SabrinaMBowen at 8:29 AM on Nov. 19, 2009

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