I just did my taxes

L

lakeman

#1
I just finished doing my taxes.

Last year the line that describes my total taxes was $431.
This year the line that describes my total taxes was $1531.

I am middle class and we are a one income family. Aren't I suppose to be getting more money back from Obama this year? That would have stimulated the economy. He could have changed the tax law to be effective right away like Bush did.

who else paid more this year compared to last year?
 
M

michaelr

#2
I just finished doing my taxes.

Last year the line that describes my total taxes was $431.
This year the line that describes my total taxes was $1531.

I am middle class and we are a one income family. Aren't I suppose to be getting more money back from Obama this year? That would have stimulated the economy. He could have changed the tax law to be effective right away like Bush did.

who else paid more this year compared to last year?
I sure as hell would not complain, $1500, it has been decades since I had to pay so little.

Obama's tax hike....cut.....err whatever wont take effect until you file for 09.
 
W

wingrider

#4
havent done mine yet... scared to.. lol maybe I won't.... lets see that is three hots and a cot isn't it.?.. and no i'm not scared of bubba
 
N

nickcuse

#8
I just finished doing my taxes.

Last year the line that describes my total taxes was $431.
This year the line that describes my total taxes was $1531.

I am middle class and we are a one income family. Aren't I suppose to be getting more money back from Obama this year? That would have stimulated the economy. He could have changed the tax law to be effective right away like Bush did.

who else paid more this year compared to last year?
you mean that line that says what you already paid, in the past year, in taxes? or what you ended up owing after doing your return?
 
T

tagurit

#9
Lets see.....

Joint returns for me and my wife....
Form 1040 Line 63 (total tax) for 2006 was $74,150, for 2007 it was $60,773
Of course, neither of these amounts include the roughly $7,000 more that my wife pays to SS and Medicare.

I haven't done this years yet. I will file an extension, like always. But don't worry, I have already sent in 60K in quaterly payments (plus the wife's withholdings). Have learned the lesson of not making quarterly payments, even if you had no income during that period.

My taxes are complicated, it will take about 3 solid weeks to complete them. Income comes from the wifes W2, my Schedual C business income, dividends, interest, capital gains, real estate, rental property, farm income and gas royalties.

I realy don't know how much I owe for 2008, I shut down my business, so not much sch C (or 15% SS tax), have a capital gain on 2 properties, some rent with a repair write down, and increased royalty from high natural gas prices earlier in that year.
 
L

lakeman

#10
you mean that line that says what you already paid, in the past year, in taxes? or what you ended up owing after doing your return?
The one called "total taxes."

It is the one that describes not what you paid in already and not what you will get back or owe, but what you actually paid or will pay.