Tax the heavy burden (mainly for non UK members and more for the US community)

TranceAddict Forums (www.tranceaddict.com/forums)
- Chill Out Room
-- Tax the heavy burden (mainly for non UK members and more for the US community)

Posted by adi_hanson on Jun-03-2008 21:30:

Tax the heavy burden (mainly for non UK members and more for the US community)

Here in the uk weve had a bit of a storm recently about income tax and what not.At the moment i earn �18750 or roughly $38000 a year and each payday(last thursday of the month)my tax , national insurance(national health service payment)are deducted from my wage and the remainder paid into my bank account.So in all i have to do nothing but fill in a few forms on commencement of employment and thats it.My girlfriend is self employed and has to do a tax return and fill in shit loads of paperwork that takes ages to complete.
As is my understanding do most employees in the USA have to do this?
Its just because of the huge tv and film the US spits out they always seem to get in a fix over taxes and a cut off date?

Can anyone enlighten me on how hard you have it but how easy ours is?????

Posted by Zombie0729 on Jun-04-2008 05:25:

depends... most large companies offer benefits in which you either pay for your healthcare out of your check or your contract with them is your salary + benefits (in which case you generally only release a small portion to the group benefit)

i'm self employed as well and i pay about $120/mo for what i think is a mediocore plan. However being self employed, health insurance can be anywhere from a 60-100% write off for us As far as extra forms go, we don't have a national health care system we pay into (unless of course you count medicare to which a small part of my 'self employment tax' goes towards; self employment tax is only paid once a year)

Posted by Jake Benson on Jun-04-2008 06:55:

Re: Tax the heavy burden (mainly for non UK members and more for the US community)

In Russia taxes write you off.

Posted by Falcon-X on Jun-04-2008 16:13:

Taxes are deducted from your salary directly, but you still have to send in a tax return after the end of the year and fill out all the paperwork. Then if too much has been deducted from your salary you get a reimbursement and if no enough then you have to pay the balance.

One of the main reasons that you have to fill out a tax return is to confirm that you have not earned other income than your salary and to demand all deductions and credits which apply to you.

Posted by Warble on Jun-04-2008 19:06:

Went tax exempt last year.
So the IRS has me on lock...

They also jacked my stimulas check.

Still owe a decent amount, the interest is pretty fucked.
Gonna try and pay it off as fast as possible.

It's easy mode to file, unless your trying to get deductions and write off. Then its a ton of paper work.
Probally paying somone to do them for me if im not on an EZ40

Not sure if i have it worse or better than UK dedections seem about the same.

Posted by denys envy on Jun-04-2008 19:23:

Re: Re: Tax the heavy burden (mainly for non UK members and more for the US community)

quote:
Originally posted by Jake Benson
In Russia taxes write you off.

...no they don't.

Posted by Warble on Jun-04-2008 19:43:

Re: Re: Re: Tax the heavy burden (mainly for non UK members and more for the US community)

quote:
Originally posted by denys envy
...no they don't.

lawl win

Posted by Falcon-X on Jun-04-2008 20:54:

Re: Re: Re: Tax the heavy burden (mainly for non UK members and more for the US commu

quote:
Originally posted by denys envy
...no they don't.

What I dont understand about russian taxes is how the went from being a communist country to having a flat tax rate of 13% on income and 9% on dividends (mostly earned by people who are better off.

Now I'm not necessarily against a flat rate since people with more income will still pay a larger amount of taxes but it still seems like a very radical transition.

Posted by denys envy on Jun-04-2008 21:17:

Re: Re: Re: Re: Tax the heavy burden (mainly for non UK members and more for the US commu

quote:
Originally posted by Falcon-X
What I dont understand about russian taxes is how the went from being a communist country to having a flat tax rate of 13% on income and 9% on dividends (mostly earned by people who are better off.

Now I'm not necessarily against a flat rate since people with more income will still pay a larger amount of taxes but it still seems like a very radical transition.

to be even fairer the amount of people in Russia that are actually "better off" is very very small, there just aren't as many income levels as, for example, in the United States.

Posted by Falcon-X on Jun-04-2008 22:06:

Re: Re: Re: Re: Re: Tax the heavy burden (mainly for non UK members and more for the

quote:
Originally posted by denys envy
to be even fairer the amount of people in Russia that are actually "better off" is very very small, there just aren't as many income levels as, for example, in the United States.

True, so its a very good place to be very rich

Posted by Lilith on Jun-04-2008 22:30:

Re: Tax the heavy burden (mainly for non UK members and more for the US community)

quote:
Originally posted by adi_hanson
Can anyone enlighten me on how hard you have it but how easy ours is?????

It much the same here (Aust) as the UK, but like most tax systems don't take the amount which is taken out... or not taken out as being exact and there are deductions in some areas.
Which is all too much for the average person, hence accountants that specialise in taxes where invented, so at the end of the financial year its best to just check with one anyway when you lodge any returns or claims to see where you stand.