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        New Message Board Archives >> 2007 General Board Posts >> Holy Crap....Tax man cometh
        
(Message started by: Redd715 on Jan 12^th, 2007, 7:46pm)

Title: Holy Crap....Tax man cometh
Post by Redd715 on Jan 12^th, 2007, 7:46pm

I cant believe this...I got paid today..when I saw what was withheld I about shite my drawers.

$796.11 withheld in taxes. Thats unbelieveable.

Title: Re: Holy Crap....Tax man cometh
Post by tanner on Jan 12^th, 2007, 7:48pm

WTF, Pegg did you get one of those CEO jobs?

gives another meaning to OUCH :-*.....Tim

Title: Re: Holy Crap....Tax man cometh
Post by Redd715 on Jan 12^th, 2007, 7:50pm

Also gives a whole mew meaning to earning commissions.... >:(

Title: Re: Holy Crap....Tax man cometh
Post by Jonny on Jan 12^th, 2007, 7:51pm

Can I come work with you?

Thats more than take home for me and I own the company.....LOL

Title: Re: Holy Crap....Tax man cometh
Post by JeffB on Jan 12^th, 2007, 7:51pm

And thats just from your check. Wait till April!

Sorry, just trying to cheer you up.

Title: Re: Holy Crap....Tax man cometh
Post by Redd715 on Jan 12^th, 2007, 7:54pm

Base pay isn't great, but the commissions make up some of it. But the comission is capped, so there is only "so much" I can earn. But they tax the hell out of commission so whats left to live on is....well....you see...

Title: Re: Holy Crap....Tax man cometh
Post by Redd715 on Jan 12^th, 2007, 7:55pm

on 01/12/07 at 19:51:22, Jonny wrote:

Can I come work with you?

Thats more than take home for me and I own the company.....LOL

Weekly or bi weekly Bro?

Title: Re: Holy Crap....Tax man cometh
Post by Jonny on Jan 12^th, 2007, 7:59pm

on 01/12/07 at 19:54:55, Redd715 wrote:

But they tax the hell out of commission so whats left to live on is....well....you see...

I see you being taxed more than I gross for 40 hours.....LOL

You rich in my book ;;D

"Live on".....LMAO [smiley=laugh.gif]

Title: Re: Holy Crap....Tax man cometh
Post by Redd715 on Jan 12^th, 2007, 8:08pm

I will admit, I've never in my life seen checks like I do now once a month when comission is paid. I'm budgeting on my base pay...comission is never a certainty...

I did miss one comission goal this quarter so I'm $500 shorter than I could have been today.

Title: Re: Holy Crap....Tax man cometh
Post by notseinfeld on Jan 14^th, 2007, 9:19pm

I see it more like the tax man 'never leaveth'.

A step in the right direction is here iffn' you're interested:

www.fairtax.org

Title: Re: Holy Crap....Tax man cometh
Post by fubar on Jan 15^th, 2007, 2:56pm

In the year 2006, I finally paid off my 2000/2001 tax bill. It took everything I had (literally). If I told you all the story, you would not believe it. In a nutshell I made (and lost) a lot of money in those two years. All of the money I made was on paper and counted as Ordinary Income. All of my losses could only be counted as 'Capital Loss'. Those two do not offset each other, so basically, I had to pay ordinary income tax on a shitload of money that I never saw. The IRS nailed me for over $572,000. I lost my house, my 15 year old business, my 'stuff'... almost everything.

All the while, I have been chronic with these bastard headaches, and I even had to stop working for a while. Believe me, I pretty much gave up hope.

Now, I am very happy, and my tax nightmare is over. I am working at a great company with a very respectable title and income, and all seems to be on track again.

The major lesson for me in this was simple... money has little/nothing to do with happiness. I can be happy when I'm broke, and I can be happy when I'm not broke. Pretty simple.

I never thought I would ever be able to say I paid that tax bill off. WOW. I remember when the full impact hit me... my whole world was spinning like crazy... It was seemingly impossible. Yet, somehow I did it, and it really didn't kill me. I still disagree with the tax bill, but that is in the past. Whew.

-Fu