Tax Day
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It's time to pay income taxes in the US. However for many of us, we haven't even worked enough in 2006 to cover the taxes that we'll need to pay this year. Tax Freedom Day, the day after which you'll be done working for the US government this year and start working for yourself is next week, April 26th.
I know that in many other countries the taxes are even stiffer than the US and honestly I don't mind paying taxes. I'd like to pay less, but I think this is a great country and taxes help support it. There's waste, we might be able to do things better, but I think we're doing allright.
However I hate that the tax code is so complicated. I'm a college educated, especially in math, individual that's worked white collar jobs most of my life and solved some complicated problems. But I can't do taxes. Last year with stock sales, changing jobs, and more, my wife and I hired an accountant to help us. We had both gone through Turbo Tax a few times and were confused.
This year was worse with the CPA talking to us, explaining things and asking questions and I still got confused. Eventually between my wife and me we understood everything, but I still felt like an idiot. I'd read something in the tax code and I might have been reading it in Latin, which I studied in high school and have forogtten all of.
I'm sure the IRS database is something amazing and the processing that goes on to work with returns must be a challenge.
I just hope that their DBAs don't have to deal with the calculations. Just the data.
Steve Jones
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The calculations are simple! We all have calculators and computers anyway. Even the data itself isn't so bad, but the schema is where I think the complexity lies. And it keeps changing.
Syntax Error: "between my wife and I" should be "between my wife and me". I wonder why everybody makes this mistake, saying I instead of me after a preposition but only when the object is plural.
Another one: "they're DBAs don't have to deal " -> "their DBAs"
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Thanks for the grammar notes
, it was a long weekend. -
Go to http://www.fairtax.org and learn how we can get rid of the IRS.
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However I hate that the tax code is so complicated. I'm a college educated, especially in math, individual that's worked white collar jobs most of my life and solved some complicated problems. But I can't do taxes. Last year with stock sales, changing jobs, and more, my wife and I hired an accountant to help us. We had both gone through Turbo Tax a few times and were confused.
The problem is that the tax structure has morphed into a vast behavior management tool (the founders of our nation would be horrified at it's structure and implications) which is then used to feed a vast pork mill known as Congress where each constituency is placated with enough from the public teat so as to continue to accept the scheme (as you seem to do in your comments)
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-- FORTRAN manual for Xerox Computers --
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Ther are only a few 'sure things' in life ...
- Change is a 'constant'
- Taxes will always be there
- Death occurs - every moment we live, we die a little more (see 'change')
- The computer will 'crash' at the most inopportune time (again see 'change')
Based on the above 'givens' we must adapt and accept ...
RegardsRudy KomacsarSenior Database Administrator"Ave Caesar! - Morituri te salutamus."
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I'm an independent developer. Hiring a CPA was one of the best business decisions I ever made. My guy works with me to help grow my business. He asks me questions about what I'm doing to increase revenues and the tax implications. If your CPA is unable to help you understand your taxes, then you need a new CPA.
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Well, you beat me to it; everyone should read what the FairTax is about. Only the most hard core socialists are opposed to it after understanding what is proposed by the FairTax. Unlike other bills that are frequently an absurd misnomer, it really is fair.
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I don't really know ... if the 'Fair Tax' is really 'fair' (and sinmple) then why does the web-site want to email me my taxes in 2-3 days ? I will not give them an email address ... it seems just like another opportunity for SPAM.
RegardsRudy KomacsarSenior Database Administrator"Ave Caesar! - Morituri te salutamus."
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I'll second, third or whatever the Fair Tax. The current system is broken because the politicians use it to curry favor with one group or another. Don't just go to the fair tax website but go to Amazon.com and preorder the paperback version of the book or order the hard cover version and read about it. The majority of the money you pay for the book will go to charity. Make April 15th just another day on the calendar.
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You don't have to provide an email address to read the FAQ section of the http://www.fairtax.org site, and if you want more details the Research and Rebuttals sections.
There is a lot of misinformation about it, spread mostly by politicians who fear the lobbyist gravy train will stop running if they lose the power to tinker with tax code and loopholes.
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I understand that you do not need an email address to read the FAQ (and a number of other sections of the site). I was speaking about the this section of the web-site - http://www.fairtax.org/tax_calc.html
I want to see a 'sample' calculation. To reiterate, if it's so simple why do they have to email me the results in 2-3 days.
RegardsRudy KomacsarSenior Database Administrator"Ave Caesar! - Morituri te salutamus."
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I do not mind paying taxes. Sometimes it seems like we pay alot in taxes, but we pay much less than people in other countries. I had an opportunity to see former (six term) Ohio US Representative Bob McEwen speak last year and he said that the reason we are more free than other countries is that we are taxed less. His idea that the tax rate and freedom are inversely proportional made quite a bit of sense (especially 'cuz he had many supporting facts and examples that I do not remember). The more we are taxed, the less free we are. I do not think that we can completely abolish taxes as that would take away from our government's ability to govern and defend us, I also frown upon any politician who suggests that we raise taxes for any reason.
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I don't mean to imply I mind paying taxes. I don't want to pay more than I need to, but I love the US and am happy to support it.
The Fair Tax is interesting and addresses a log of the issues we have. However one think I don't like is forcing the poor to file to get money back. They struggle as it is and I think there should be some way to get their taxes exempted immediately, or maybe every month. Might have missed that in reading the Fair tax thing, so if I did then I apologize.
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There is no exemption under the FairTax, there is a monthly check to refund the tax amount paid on a poverty-level income for your family size. This check, referred to as a prebate, comes every month regardless of your actual income, how it is earned, or how you spend it. Bill Gates and his wife would receive about $400/mo (if he bothered to file for it), and so would any other married couple with no children.
The only thing you have to file under the FairTax is to establish your family size, but I'm not sure if you have to renew it periodically. I assume you have to update the government anytime family size changes (births, deaths, weddings, divorces, parasitic ingrates reaching age 18, etc.)
In general, people in just about every demographic (young & old, rich & poor, homeowners, whatever) would have more purchasing power under the FairTax, while the government would collect just as much revenue as it does now. It's not smoke and mirrors, the current system requires higher taxes to cover the cost of running the IRS, keeping track of all the paperwork, auditing returns, etc. Plus all the money companies have to spend keeping track of every penny given to every individual in payroll, dividends, or interest.
There are many other benefits, go to the website for more info if you're interested.
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