Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Summary from Forbes:

Now, let’s get to the good stuff. As you may remember, 2013 was a pivotal year in tax policy. Beginning on January 1st, a series of tax increases proposed and signed into law by President Obama came into effect, including:


A new maximum rate on ordinary income of 39.6%. The rate applies only to taxable income in excess of $450,000 (if married filing jointly, $400,000 if single).
A new maximum rate on qualified dividends and long-term capital gains of 20%, but once again, only if the taxpayer’s taxable income exceeds $450,000/$400,000.
A resuscitated limitation on itemized deductions; taxpayers with adjusted gross income in excess of $300,000 (if married filing jointly, $250,000 if single) lose 3% of most itemized deductions (maxing out at 80% of itemized deductions) for each dollar adjusted gross income exceeds the threshold.
A taxpayer’s personal exemptions are phased out once adjusted gross income exceeds the $300,000/$250,000 thresholds. Mechanically, once a married taxpayer has adjusted gross income in excess of $400,000, the exemptions are gone.
A new payroll tax was born. Starting in 2013, taxpayers with earned income from wages or self-employment income in excess of $250,000 (if married filing jointly, $200,000 if single), will pay an extra 0.9% Medicare tax on the excess earnings.
Lastly, and perhaps most famously, taxpayers with adjusted gross income in excess of $250,000 (if married filing jointly, $200,000 if single), will pay an extra 3.8% surtax on “net investment income,” which includes items such as interest, dividends, capital gains, rents, and royalties.

Holy s. I think we ticked each of these boxes this year.

Lucky you! You are incredibly wealthy.

No, they/we are not incredibly wealthy. Democrats make sure of that. totally disincentivised to work hard and get a raise and bonus.

Anonymous wrote:

Anonymous wrote:Voting Republican forevermore. We got killed.

....always have and always will. The past 6 yrs have felt like a giant black cloud has been hanging over our heads. always waiting for the next tax increase or new tax to happen. God help us if we have another democrat in office in 2016.

Anonymous wrote:Oh the 47% meme. Awesome. And mostly wrong, or at least distorted. You were one of those people at one point I'm sure. I bet you were not clamoring to lay more. So hypocritical.

http://www.cbsnews.com/news/fact-checking-romneys-47-percent-comment/

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Summary from Forbes:

Now, let’s get to the good stuff. As you may remember, 2013 was a pivotal year in tax policy. Beginning on January 1st, a series of tax increases proposed and signed into law by President Obama came into effect, including:


A new maximum rate on ordinary income of 39.6%. The rate applies only to taxable income in excess of $450,000 (if married filing jointly, $400,000 if single).
A new maximum rate on qualified dividends and long-term capital gains of 20%, but once again, only if the taxpayer’s taxable income exceeds $450,000/$400,000.
A resuscitated limitation on itemized deductions; taxpayers with adjusted gross income in excess of $300,000 (if married filing jointly, $250,000 if single) lose 3% of most itemized deductions (maxing out at 80% of itemized deductions) for each dollar adjusted gross income exceeds the threshold.
A taxpayer’s personal exemptions are phased out once adjusted gross income exceeds the $300,000/$250,000 thresholds. Mechanically, once a married taxpayer has adjusted gross income in excess of $400,000, the exemptions are gone.
A new payroll tax was born. Starting in 2013, taxpayers with earned income from wages or self-employment income in excess of $250,000 (if married filing jointly, $200,000 if single), will pay an extra 0.9% Medicare tax on the excess earnings.
Lastly, and perhaps most famously, taxpayers with adjusted gross income in excess of $250,000 (if married filing jointly, $200,000 if single), will pay an extra 3.8% surtax on “net investment income,” which includes items such as interest, dividends, capital gains, rents, and royalties.

Holy s. I think we ticked each of these boxes this year.

Lucky you! You are incredibly wealthy.

Anonymous wrote:Voting Republican forevermore. We got killed.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just sent off an unexpected 18K check to the IRS.

Our landscaping will be not happen this year

So high taxes can hurt jobs? Someone needs to bring this up to the powers that be.

No, because the landscaper will simply find a client who is better prepared and ha s refund to blow.

All this and the other posts means is that there are some unprepared people out there. You should be preparing and saving from January for the highest/worst case scenario for taxes. You have a good idea of your income, your tax bracket, and the changes in the tax code at the beginning of every year.

None of this should ever be that big a surprise for people at these income levels and for anyone with a modicum of common sense.

So all of the other potential customers for landscaping don't have to pay taxes? I wouldn't trust you to be a judge of who has common sense.

It was a snarky, throwaway comment to a rather illogical throw away comment. But good straw man there. This is why people are surprised by taxes; they are intellectually lazy and armed only with half-witted rejoinders when faced with their own mistakes.

Anonymous wrote:If you have to pay such large amounts on April 15 don't you get hit with penalties for not withholding enough/not paying estimated taxes?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just sent off an unexpected 18K check to the IRS.

Our landscaping will be not happen this year

So high taxes can hurt jobs? Someone needs to bring this up to the powers that be.

No, because the landscaper will simply find a client who is better prepared and ha s refund to blow.

All this and the other posts means is that there are some unprepared people out there. You should be preparing and saving from January for the highest/worst case scenario for taxes. You have a good idea of your income, your tax bracket, and the changes in the tax code at the beginning of every year.

None of this should ever be that big a surprise for people at these income levels and for anyone with a modicum of common sense.

So all of the other potential customers for landscaping don't have to pay taxes? I wouldn't trust you to be a judge of who has common sense.