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Thread: taxes and not paying them

  1. #1
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    Default taxes and not paying them

    my work friend has been a stripper since June 2019... She doesn't want to pay taxes from it this year because: she can report some income from a part-time job, isn't planning on buying a house or applying for loans anytime soon. In the future, she may want to pay taxes in the years to come, but for now she would rather have a large amount of cash savings.

    if anyone can say, *approximately*, how much money would you have to pay in taxes if you reported an income of 40k from dancing?? I know it probably depends on state and a bunch of stuff but any estimate would be helpful..

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    God/dess Zofia's Avatar
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    Default Re: taxes and not paying them

    Very little, if any. Here is a very accurate calculator: https://www.hrblock.com/tax-calculator/#/en/te/aboutYou

    HTH,
    Z

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    God/dess arielbriel's Avatar
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    Default Re: taxes and not paying them

    She needs to pay her taxes SMH.

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    Default Re: taxes and not paying them

    I have a feeling that she is the work friend

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    Default Re: taxes and not paying them

    Quote Originally Posted by Zofia View Post
    Very little, if any. Here is a very accurate calculator:

    HTH,
    Z
    oh! I heard that taxes can be up to 50% of what you earned for contractor jobs

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    Default Re: taxes and not paying them

    Quote Originally Posted by strawberries View Post
    oh! I heard that taxes can be up to 50% of what you earned for contractor jobs
    Well, run the calculator I referenced above. But, doing a very quick calculation, here is what I came up with:
    Business Income (after ordinary and necessary expenses) $50,000.
    Single
    No dependents
    No mortgage or state taxes (standard deduction)
    Tax: $ 9,867 (most of which is the self-employment tax)

    If we double the net income before tax to $100,000, keeping everything else the same, the tax goes up to $23,660. So doubling your income does result in just more than doubling the tax. That's the miracle of the progressive income tax.

    HTH
    Z

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    Default Re: taxes and not paying them

    Taxes = >50% of income? ......Da fuck?!?

    I’ll be increasing my income and now I want to cry

    Show me The T.rump Zero tax plan

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    Default Re: taxes and not paying them

    Quote Originally Posted by miss.a.p1600 View Post
    Taxes = >50% of income? ......Da fuck?!?


    Show me The T.rump Zero tax plan
    That is the minimum rate in Germany. Add to that 25% sales tax on everything (hidden in the price) except for gasoline, which is 75%. We should consider ourselves fortunate.

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    Default Re: taxes and not paying them

    Last post I think...

    A portion of that guys zero tax plan https://www.nytimes.com/2016/10/10/u...ump-taxes.html

    “Known as net operating loss, it allows an array of deductions, business expenses, real estate depreciation, losses from the sale of business assets and even operating losses to flow from the balance sheets of those partnerships, limited liability companies and S corporations onto the personal tax returns of people like Mr. Trump. In turn, those losses can be used to cancel out an equivalent amount of taxable income.“

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    Default Re: taxes and not paying them

    Quote Originally Posted by slowpoke View Post
    That is the minimum rate in Germany. Add to that 25% sales tax on everything (hidden in the price) except for gasoline, which is 75%. We should consider ourselves fortunate.
    But don’t they get “free” education and health care though?
    milfin’ ain’t easy

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  19. #11
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    Default Re: taxes and not paying them

    Quote Originally Posted by Ifyouseekamy View Post
    But don’t they get “free” education and health care though?
    No free health care in Germany. They basically have our system with mandatory participation by all. The cost savings they have come mostly from lower health care worker wages and a stingier system overall. They also bargain more aggressively on drug and device costs.

    HTH
    Z

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    Default Re: taxes and not paying them

    Quote Originally Posted by slowpoke View Post
    That is the minimum rate in Germany. Add to that 25% sales tax on everything (hidden in the price) except for gasoline, which is 75%. We should consider ourselves fortunate.
    According to Wikipedia, the income tax rate in Germany goes from 0% - 45% for income over €265,327 (€530,654 for married couples). A Euro is approximately $1.10.

    https://en.wikipedia.org/wiki/Taxati..._rates_in_2019

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    Default Re: taxes and not paying them

    Quote Originally Posted by Zofia View Post
    No free health care in Germany. They basically have our system with mandatory participation by all. The cost savings they have come mostly from lower health care worker wages and a stingier system overall. They also bargain more aggressively on drug and device costs.

    HTH
    Z
    If they do, it would be because the government does not leave them any money to pay for it themselves.

    The first time I went to Germany I was surprised to see so many people on crutches. I never see anyone with a crutch at home.

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    Default Re: taxes and not paying them

    Quote Originally Posted by eagle2 View Post
    According to Wikipedia, the income tax rate in Germany goes from 0% - 45% for income over €265,327 (€530,654 for married couples). A Euro is approximately $1.10.

    https://en.wikipedia.org/wiki/Taxati..._rates_in_2019
    I was using information several years old, from a German.

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    Default Re: taxes and not paying them

    Remember. there is no free health care anywhere. It's just how do you pay for it. Through premiums, through taxes or out of pocket.

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    Default Re: taxes and not paying them

    Actally i did tax prep and she could end up owing thousands of dollars they will hit her with all types of fees and punishment for her not filing and on top of that they aren't gonna wamt to just hear her say what she made they want actual proof i hope she been keeping tabs and using a bank account or shes fucked

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    Default Re: taxes and not paying them

    Quote Originally Posted by Zofia View Post
    Remember. there is no free health care anywhere. It's just how do you pay for it. Through premiums, through taxes or out of pocket.
    The things you get "free", are in actuality the most expensive things you will get.

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