i have to pay $7K american in self-employment tax - GoFuckYourself.com

B Sandwich · 04-08-2005, 06:27 PM

wtf! way to keep a hard working young american down. total taxes to pay this year: $15K

who · 04-08-2005, 06:28 PM

Get a pro to do your tax return for you. You'll get 50% back if you're lucky

kmanrox · 04-08-2005, 06:28 PM

you're luckier than you think

Furious_Male · 04-08-2005, 06:30 PM

Thats not bad.

Paulzy · 04-08-2005, 06:37 PM

It went from $7k to $15k in the time you went from the Topic field to the body field?

B Sandwich · 04-08-2005, 06:41 PM

7K just in self-employment tax. another 8K in regular taxes. I DID get a pro to do it

Jace · 04-08-2005, 06:43 PM

whut r taxis?

smack · 04-08-2005, 06:53 PM

Quote:

Originally Posted by B Sandwich

7K just in self-employment tax. another 8K in regular taxes. I DID get a pro to do it

i'm in about the same boat. that SE tax is a fucking whore and a half. I'm about to fake my death, move to namibia, and call it even.

Spunky · 04-08-2005, 06:55 PM

Move to Canada

Sosa · 04-08-2005, 06:55 PM

get a LLC or another corp and forget about the Self Employment taxes. Then you can pay out medicare/social security shit heh, but it is still cheaper than SE tax. Atleast for me.

BlackCrayon · 04-08-2005, 06:57 PM

self employment tax? what the hell? its like they want everyone to work for someone else. fuck the small business man. im glad i live in canada.

dodger21 · 04-08-2005, 06:57 PM

Quote:

Originally Posted by B Sandwich

wtf! way to keep a hard working young american down. total taxes to pay this year: $15K

I don't understand. Are you bitching or trying to show off by pretending to bitch? $7k self employment tax would put you at what? After deductions about 40k?

Slick · 04-08-2005, 06:58 PM

Yeah, that tax really sucks, out of the $52K in federal that I paid, $16K of that was in self-employment tax

Furious_Male · 04-08-2005, 07:14 PM

Social Security is what beats my ass down every year.

But thats life..

webgurl · 04-08-2005, 07:16 PM

its not like u have it any better in canada , if u are self employed here u pay quite a bit to your gov't . I KNOW ... cause i DO

B Sandwich · 04-08-2005, 07:57 PM

my accountant has advised me to incorporate myself, which would have saved me the $7k. wish i would have done it last year though

Love Brokers · 04-08-2005, 08:07 PM

Quote:

Originally Posted by spunky

Move to Canada

Yeah.........Canada will take half your income. U.S.A. is not far behind, at least as far as the working man.

AndrewKanuck · 04-08-2005, 08:09 PM

Quote:

Originally Posted by spunky

Move to Canada

Taxes are better in the US, depending where you live

goldman · 04-08-2005, 08:20 PM

i pay no tax mainly cause they dont know about it..
plus if they did my internet actvity falls under the category of a 'hobby' not a business hence it not assessable income...
hence no tax...
this is NZ though..

detoxed · 04-08-2005, 08:20 PM

$31k after all deductions

B Sandwich · 04-08-2005, 08:45 PM

Quote:

Originally Posted by BlackCrayon

self employment tax? what the hell? its like they want everyone to work for someone else.

exactly.

Prowler · 04-08-2005, 09:21 PM

Quote:

Originally Posted by Furious_Male

Social Security is what beats my ass down every year.

But thats life..

Yup you can get around everything but SS

Sosa · 04-08-2005, 10:26 PM

Quote:

Originally Posted by B Sandwich

my accountant has advised me to incorporate myself, which would have saved me the $7k. wish i would have done it last year though

if you incorporate you will still pay other taxes so don't think you will be saving that whole 7k.

woj · 04-08-2005, 10:41 PM

$15k total taxes isn't THAT bad....

rickholio · 04-08-2005, 11:03 PM

Quote:

Originally Posted by Love Brokers

Yeah.........Canada will take half your income. U.S.A. is not far behind, at least as far as the working man.

Keep thinking that. We don't need any economic migrants coming up here to take advantage of our goodies.

Hornydog4cooter · 04-08-2005, 11:05 PM

It is for me ......

nuttyrom · 04-08-2005, 11:38 PM

damn 1099's...

Paul Markham · 04-09-2005, 12:41 AM

Quote:

Originally Posted by dodger21

I don't understand. Are you bitching or trying to show off by pretending to bitch? $7k self employment tax would put you at what? After deductions about 40k?

Exactly what I thought. But I assume the other $8k was from his day job, which would mean he earns $35 there. Total income $75K Not shoddy, but nothing to boast about.

If you want police, fire services, paramedics, roads, hospitals, goverment and all the other things that go to make a country run you have to pay taxes.

These taxes go largely to pay workers who put the money back into the economy. Or you can cut on the services or run up massive debts to pay for them and give back tax cuts to all that put money bacck into the community.

Or you can give it to those at the top so thay can buy another imported car or a house overseas.

B Sandwich · 04-09-2005, 03:09 AM

I quit my day job a couple years ago. the "other" 8k (7k federal, 1k state) is the "normal" tax.

Mango · 04-09-2005, 03:11 AM

Quote:

Originally Posted by Furious_Male

Social Security is what beats my ass down every year.

But thats life..

I agree... and don't tell me that it's all being spent on the right people...

ytcracker · 04-09-2005, 03:11 AM

been there man it sucks

Dalai lama · 04-09-2005, 03:12 AM

move to asia

AdPatron · 04-09-2005, 03:36 AM

Self employment tax? Never heard of it.

My company is a C-Corp so I only have to pay taxes once, which I have my company paying for me.

04-08-2005, 06:27 PM	#1
B Sandwich Confirmed User Join Date: Mar 2003 Location: nola Posts: 1,600	i have to pay $7K american in self-employment tax wtf! way to keep a hard working young american down. total taxes to pay this year: $15K __________________ PubicBucks - Trade your pubes for bucks!

04-08-2005, 06:28 PM	#3
kmanrox aka K-Man Industry Role: Join Date: Oct 2001 Location: The Gutter Posts: 29,292	you're luckier than you think __________________ Crypto HODLr Crypto mining Angel investor

04-08-2005, 06:30 PM	#4
Furious_Male Doing the grind since 99 Industry Role: Join Date: Oct 2003 Location: Buffalo NY Posts: 16,881	Thats not bad. __________________ Living in Virtual Reality Contact: Email (preferred): furiousmale .at. gmail - Skype: live:shanedws

04-08-2005, 06:41 PM	#6
B Sandwich Confirmed User Join Date: Mar 2003 Location: nola Posts: 1,600	7K just in self-employment tax. another 8K in regular taxes. I DID get a pro to do it __________________ PubicBucks - Trade your pubes for bucks!

04-08-2005, 06:55 PM	#9
Spunky I need a beer Industry Role: Join Date: Jun 2002 Location: ♠ Toiletville ♠ Posts: 133,943	Move to Canada __________________ *YOUR INFORMATION HERE*

04-08-2005, 06:28 PM	#2
who So Fucking Banned Join Date: Aug 2003 Location: ICQ #23642053 Posts: 19,593	Get a pro to do your tax return for you. You'll get 50% back if you're lucky

04-08-2005, 06:37 PM	#5
Paulzy So Fucking Banned Join Date: Sep 2002 Location: Shaolin Posts: 199	It went from $7k to $15k in the time you went from the Topic field to the body field?

04-08-2005, 06:43 PM	#7
Jace FBOP Class Of 2013 Industry Role: Join Date: Jan 2004 Location: bumfuck, ky Posts: 35,562	whut r taxis?

04-08-2005, 06:55 PM	#10
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	get a LLC or another corp and forget about the Self Employment taxes. Then you can pay out medicare/social security shit heh, but it is still cheaper than SE tax. Atleast for me.

04-08-2005, 06:57 PM	#11
BlackCrayon Too lazy to set a custom title Join Date: Jun 2003 Location: Ottawa Posts: 19,631	self employment tax? what the hell? its like they want everyone to work for someone else. fuck the small business man. im glad i live in canada. __________________ you don't know you're wearing a leash if you sit by the peg all day..

04-08-2005, 06:58 PM	#13
Slick Confirmed User Industry Role: Join Date: Feb 2001 Location: Houghton, MI Posts: 7,338	Yeah, that tax really sucks, out of the $52K in federal that I paid, $16K of that was in self-employment tax

04-08-2005, 07:14 PM	#14
Furious_Male Doing the grind since 99 Industry Role: Join Date: Oct 2003 Location: Buffalo NY Posts: 16,881	Social Security is what beats my ass down every year. But thats life.. __________________ Living in Virtual Reality Contact: Email (preferred): furiousmale .at. gmail - Skype: live:shanedws

04-08-2005, 07:16 PM	#15
webgurl Confirmed User Join Date: Aug 2002 Location: Clouds with Carebears Posts: 7,954	its not like u have it any better in canada , if u are self employed here u pay quite a bit to your gov't . I KNOW ... cause i DO

04-08-2005, 07:57 PM	#16
B Sandwich Confirmed User Join Date: Mar 2003 Location: nola Posts: 1,600	my accountant has advised me to incorporate myself, which would have saved me the $7k. wish i would have done it last year though __________________ PubicBucks - Trade your pubes for bucks!

04-08-2005, 08:20 PM	#19
goldman Confirmed User Join Date: Nov 2004 Location: nz Posts: 212	i pay no tax mainly cause they dont know about it.. plus if they did my internet actvity falls under the category of a 'hobby' not a business hence it not assessable income... hence no tax... this is NZ though.. __________________ SIG TOO BIG! Maximum 120x60 button and no more than 3 text lines of DEFAULT SIZE and COLOR. Unless your sig is for a GFY top banner sponsor, you may use a 624x80 instead of a 120x60. Let me repeat... A 120 x 60 button and no more that 3 lines of DEFAULT SIZE AND COLOR text.

04-08-2005, 08:20 PM	#20
detoxed vip member Join Date: Jan 2003 Posts: 17,798	$31k after all deductions

04-08-2005, 10:41 PM	#24
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	$15k total taxes isn't THAT bad.... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

04-08-2005, 11:05 PM	#26
Hornydog4cooter Confirmed User Join Date: Jan 2005 Posts: 2,859	atinggold down? It is for me ......

04-08-2005, 11:38 PM	#27
nuttyrom Confirmed User Industry Role: Join Date: Jan 2003 Location: San Diego Posts: 256	damn 1099's...

04-09-2005, 03:09 AM	#29
B Sandwich Confirmed User Join Date: Mar 2003 Location: nola Posts: 1,600	I quit my day job a couple years ago. the "other" 8k (7k federal, 1k state) is the "normal" tax. __________________ PubicBucks - Trade your pubes for bucks!

04-09-2005, 03:11 AM	#31
ytcracker stc is the greatest Join Date: Dec 2002 Location: rip sean murray Posts: 12,403	been there man it sucks __________________ www.ytcracker.com \| www.digitalgangster.com i love you

04-09-2005, 03:12 AM	#32
Dalai lama Strength and Honor Join Date: Jul 2004 Location: Europe Posts: 16,540	move to asia __________________ A program you can trust. Gallerybooster Run multiply TGPs of 1 script

04-09-2005, 03:36 AM	#33
AdPatron No commissions, no fees. Industry Role: Join Date: Apr 2003 Location: USA Posts: 17,706	Self employment tax? Never heard of it. My company is a C-Corp so I only have to pay taxes once, which I have my company paying for me.