Originally posted by ChristopherPaul
This is where it gets confusing to me. Based on the 2006 tax table, I should be deducting 25% for federal and 6.85% for state.
But when I calculate what actually gets deducted from my gross it calculates to about 19% federal and state combined.
And when I calculate my annual income taxes I usually get a substantial amount returned.
Originally posted by tcalbrecht
Originally posted by ChristopherPaul
This is where it gets confusing to me. Based on the 2006 tax table, I should be deducting 25% for federal and 6.85% for state.
But when I calculate what actually gets deducted from my gross it calculates to about 19% federal and state combined.
And when I calculate my annual income taxes I usually get a substantial amount returned.
Remember, the amounts in the tax tables are after deductions, etc.
By way of example, if your gross income is $75K, and you have $25K in deductions, your taxable income falls to $50K That would place you in the 15% bracket.
How many allowances have you listed on your W-4 form? Did you ask for any additional amount to be withheld? That's really what drives your withholding at the Fed level.
Originally posted by Puritanhead
Add the employers matching contribution on FICA/OASDI-- about 7.5% to your gross, and than you can start to fathom how much the government truly screws you out of your money. That doesn't account for the regulatory costs to the economy, and redistribution through the frivilous tort system.
Most economists agree taxes borne by businesses are passed onto consumers in the form of higher prices and workers in the form of depressed wages.
For more groveling about Uncle Sam, read my latest blogspot.
they're a dangerous religious sect that must be vanquished at all costs. The read deep books and think for themselves. This make them uncover the lewdness of social, political and religious leaders, as well as the lewdness of the general population. They thus threaten the very structure of society since they are hell bent on holiness and integrity. They threaten Football which is played on a sunday, they threaten the entertainment industry that produces amoral and immoral movies, they threaten our public school system, since they demand Godly education, they threaten evangelicalism, thereby putting Benny Hinn's million dollar salary in great jeopardy, the oppose divorce thereby threatening the $2 billion dollar divorce industry.
Originally posted by Slippery
they're a dangerous religious sect that must be vanquished at all costs. The read deep books and think for themselves. This make them uncover the lewdness of social, political and religious leaders, as well as the lewdness of the general population. They thus threaten the very structure of society since they are hell bent on holiness and integrity. They threaten Football which is played on a sunday, they threaten the entertainment industry that produces amoral and immoral movies, they threaten our public school system, since they demand Godly education, they threaten evangelicalism, thereby putting Benny Hinn's million dollar salary in great jeopardy, the oppose divorce thereby threatening the $2 billion dollar divorce industry.
Puritans aren't great, they are treasonous, very treasonous, and very destructive. They don't wage battle with swords or bombs, but with knowledge, by which they seduced the godless, and gradually change their lives to a puritanical pursuit, making them love God, and family.
[Edited on 2-21-2006 by Slippery]
