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Why do people get so up in arms when someone is working for cash? I can think of many instances where I don't consider it a big deal. If you babysit a friend's kids and get paid, you're technically working under the table.

I bring in a nice income, untaxed. I don't "work", but I still earn money.

Whoooo cares??

I had a friend go off about me earning money that is not taxed. After bragging about getting back more than she paid in. Ooookkkkkk
by on Apr. 30, 2013 at 8:26 PM
Replies (141-150):
-Celestial-
by Pepperlynn on May. 1, 2013 at 11:02 PM

We actually claimed cash under the table on our tax return before and got a damn audit because it reduced our AGI by 10,000 and it was a nightmare.

Mommy_of_Riley
by Jes on May. 1, 2013 at 11:10 PM
Actually vas winnings don't always have to be reported...

You have to have won certain amounts:
$600 or more at a horse track (if that is 300 times your bet)

$1,200 or more at a slow machine or bingo game

$1,500 or more in keno winnings

$5,000 or more in poker tournament winnings


Quoting foxfroggy:

You claim to have enough income to have paid $66K in taxes and any earning and winnings should have been added to your gross inclome. Cash "winnings" of any kind are taxable, although you may deduct gambling losses from earnings. Win big at any casino and expect to hear from the IRS very quickly.

You seem to justify being a tax evader by looking down your nose at those you ASSume never paid a penny. It's time you bought a clue. If I knew who you were, I'd strongly consider turning you in to the IRS for being a cheater and not even claim the reward.

Posted on CafeMom Mobile
DropZoneMom
by Bronze Member on May. 1, 2013 at 11:16 PM

BULLSHIT.   If you're paying 45%, you're either fucking STUPID and/or you need to fire your accountant.

Your entire post is BULLSHIT.   Just another TROLL here, ladies.   Move along.   NOTHING to see.


Quoting Jack_Squat:

I don't make enough for it to make a difference. We already pay 45%.


Quoting AMBG825:

 Because you should be paying taxes on that money.




Mommy_of_Riley
by Jes on May. 2, 2013 at 12:09 AM
1 mom liked this
I figure SS won't be around when I retire so why bother... LOL!

Quoting cjsbmom:

Look at it this way. You're making lots of money now, but because you're not on the books, you aren't earning anything toward social security or medicaid. When you retire some day, you will have nothing unless you start saving some of your "under the table" cash now. Even then, it might not be enough. 

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Della529
by Matlock on May. 2, 2013 at 12:31 AM

 I didn't see this reply earlier.

How do you figure 45%?  What is the percent of $66,734 of $264,406?  Actually it should be: What is $46,020 of $264,406 because of the overpaid $20,714. 

If you paid 45% on $264,406 (not accurate, but for silly-sake) you would have paid in $118,982.70.

And OP, I'd seriously consider getting another tax advisor.

Quoting Jack_Squat:

I was wrong lol. I don't know much aboit taxes lol.

I have confused myself royally. We paid taxes on a total of 264, 406. Actual wages were 47, 181 and the rest is on the line for s corps, trusts, etc. I know last year we went into a lower bracket because it was slow. It says we paid 66, 734 and over paid 20, 714, I'm assuming from the year before?


Quoting Billiejeens:

 


Nope, deductions lower your rate, self employement is actually one of the best ways to lower ones tax rate, so much can legitimately be deducted for business use. All the more reason to be honest though.


I received $12.00 in jury pay one year, and you bet your ass I listed the $12.00 as misc income, I do not ever want a visit from the IRS.


Quoting Jack_Squat:

Im also talking about state tax. And all the other stuff that comes with self employment. You're forgetting deductions.



Quoting Billiejeens:


Based onthenumbers that she s providing.



She states she paid 45%



She States $66,000.00.



Simple math tells me she is claiming roughly -



Income of $146,000, with a tax burden of $66,000.00.



Unless she is claiming the $66,000.00 includes "ALL" taxes paid to any entity, she needs to fire her accountant, today.



 



 


 


 

turtle68
by Mahinaarangi on May. 2, 2013 at 12:58 AM

wow....that is a lot for a small amount of winnings.  Our local bingo hall has a 50K grandprize.  One bingo hall sold tickets at 400 hundred dollars per book of 60 games...top prize was 100K, no prize under 2K and several 10k and 20K prizes.  

here gambling is non taxable and doesnt need to be reported as income.  Even if I won this weeks lotto of 60 million.  60 million would go into my bank.  I would however have to pay tax on any interest I earned over the year.

Quoting Mommy_of_Riley:

Actually vas winnings don't always have to be reported...

You have to have won certain amounts:
$600 or more at a horse track (if that is 300 times your bet)

$1,200 or more at a slow machine or bingo game

$1,500 or more in keno winnings

$5,000 or more in poker tournament winnings


Quoting foxfroggy:

You claim to have enough income to have paid $66K in taxes and any earning and winnings should have been added to your gross inclome. Cash "winnings" of any kind are taxable, although you may deduct gambling losses from earnings. Win big at any casino and expect to hear from the IRS very quickly.

You seem to justify being a tax evader by looking down your nose at those you ASSume never paid a penny. It's time you bought a clue. If I knew who you were, I'd strongly consider turning you in to the IRS for being a cheater and not even claim the reward.


Jack_Squat
by Silver Member on May. 2, 2013 at 2:03 AM
Like I said, I don't know much about taxes. I do know that normally, between fed and state taxes, we pay 45%. Last year was different because things got so slow. I'm not sure what bracket we were in, but I swore my husband said we dropped a bracket or something. That just happened to be the return I had in front of me. Don't ask me. I just sign it lol! I really have nothing to do with our taxes and such.


Quoting Della529:

 I didn't see this reply earlier.


How do you figure 45%?  What is the percent of $66,734 of $264,406?  Actually it should be: What is $46,020 of $264,406 because of the overpaid $20,714. 


If you paid 45% on $264,406 (not accurate, but for silly-sake) you would have paid in $118,982.70.


And OP, I'd seriously consider getting another tax advisor.


Quoting Jack_Squat:

I was wrong lol. I don't know much aboit taxes lol.

I have confused myself royally. We paid taxes on a total of 264, 406. Actual wages were 47, 181 and the rest is on the line for s corps, trusts, etc. I know last year we went into a lower bracket because it was slow. It says we paid 66, 734 and over paid 20, 714, I'm assuming from the year before?



Quoting Billiejeens:


 



Nope, deductions lower your rate, self employement is actually one of the best ways to lower ones tax rate, so much can legitimately be deducted for business use. All the more reason to be honest though.



I received $12.00 in jury pay one year, and you bet your ass I listed the $12.00 as misc income, I do not ever want a visit from the IRS.



Quoting Jack_Squat:

Im also talking about state tax. And all the other stuff that comes with self employment. You're forgetting deductions.




Quoting Billiejeens:



Based onthenumbers that she s providing.




She states she paid 45%




She States $66,000.00.




Simple math tells me she is claiming roughly -




Income of $146,000, with a tax burden of $66,000.00.




Unless she is claiming the $66,000.00 includes "ALL" taxes paid to any entity, she needs to fire her accountant, today.




 




 



 



 


Jack_Squat
by Silver Member on May. 2, 2013 at 2:06 AM
Well, that escalated quickly.

I take it you didn't read all the replies?




Quoting DropZoneMom:

BULLSHIT.   If you're paying 45%, you're either fucking STUPID and/or you need to fire your accountant.

Your entire post is BULLSHIT.   Just another TROLL here, ladies.   Move along.   NOTHING to see.



Quoting Jack_Squat:

I don't make enough for it to make a difference. We already pay 45%.





Quoting AMBG825:

 Because you should be paying taxes on that money.







idunno1234
by Silver Member on May. 2, 2013 at 7:45 AM

 Are you in the US??I don't have the patience to read through all the posts to see if anyone else has questioned this but there is no 45% tax bracket in the US.  Explain please.


Quoting Jack_Squat:

I do, too.

They are called, 'we already pay almost 45% of our income in taxes, and ya ain't gettin' no more' ethics.


Quoting talia-mom:

I have ethics.


 

Billiejeens
by on May. 2, 2013 at 7:47 AM

 

Ya gotta read the whole thread, she had no idea, and has only actually seen her return when she signed it.

Quoting idunno1234:

 Are you in the US??I don't have the patience to read through all the posts to see if anyone else has questioned this but there is no 45% tax bracket in the US.  Explain please.

 

Quoting Jack_Squat:

I do, too.

They are called, 'we already pay almost 45% of our income in taxes, and ya ain't gettin' no more' ethics.


Quoting talia-mom:

I have ethics.

 

 


 

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