We filed our joint taxes last February 20th. Before going to H&r Block, hubby and I knew that we won't get back an amount like we used to when he was in school and not working a job. I was shocked however of how much Social Security contribution I have to pay. Since I am a self employed, I don't pay my SS contribution until I file my tax. It's sad too because I don't think I will be able to enjoy social security when I am old enough because by then I assumed that SS will be broke and won't exist anymore. Oh well.
So after the deduction of taxes, we got back $409.66
- H&R Block fee - $496.37
- Bank Fee -$ 34.95
- State Tax - $138
- Self Employment tax (SS) - $1,578
- Self Employed Tax (Federal Tax) - $789
MOst of the online companies that I work with said that the third party which is the paypal, will be responsible for supplying the tax document (1099) we need. According to Paypal, they won't supply this doc unless we make $20k which I doubt I would since I don't hire any consultant to do some job haunting for me, what's the point? So my resolution to this is to print my monthly report from paypal, I would use for next tax season.
Alrighty, till next tax time. I gotta go to school today. See you later peeps. Thanks for leaving your trails through comments.
I know that I'm concerned about doing our taxes this year , incase we are over our tax credit limit. At least you got something back :-)
ReplyDeleteH&R Block have more than us lol.
Deletein my opinion, it is alright to pay taxes as long as we can see where our payment goes, well big time tax evaders are very common here, hope they will be sanctioned soonest
ReplyDeleteAy dito ate nakakagigil kasi yung taxes ng mga ngatatrabaho eh napupunta sa mga taong di nagtatrabaho at umaasa sa bigay ng gobyerno.
DeleteYes, Robert Kiyosaki talked about that. America has a culture of entitlement kaya if they get no job, it is the government's job to take care and feed them. At least, better pa rin diyan, because here sa Pinas, lawmakers think they are entitled to free use of our taxes via their projects which go to their pockets naman
Deletewow, that's a lot of contribution you have there, it seems like what you've earn it shows your just giving it for the taxes.
ReplyDeletePainful right? But that's how it works.
DeleteOn the brighter side - at least may bumabalik naman kahit papano hehehe
ReplyDeleteYep, we got back at least one percent of the 15% we paid for the year hehehe.
DeleteWe haven't done our taxes yet...hubby is still waiting for a document.
ReplyDeleteHopefully we'll have a refund too.
I also hate how the tax system works. But agree would rather work and pay than the opposite. It all balances in the end. Using H&R Block online would save you a lot of money though. Maybe you could consider that for next year and get back an additional $400 you paid them.
ReplyDeleteOur taxes will be done next week as soon as we go back to Kansas. My heavens! It is painful, but like you said, you would still rather work than not at all. The only downfall is you pay huge tax. Life is expensive.
ReplyDeleteOur taxes will be done next week as soon as we go back to Kansas. My heavens! It is painful, but like you said, you would still rather work than not at all. The only downfall is you pay huge tax. Life is expensive.
ReplyDeleteThat's all you got in return sis? I am seeing now how taxes work here in US. We got more than you received but it's all because I do not work and I have more kids maybe that's it.
ReplyDeleteI will not complain to pay taxes if we can see where it's going.
ReplyDeleteOh I can see where it goes alright, only that, yung mga di nagwowork ang nakikinabang dito.
DeleteYou got ripped off! We quit using H & R block a long time ago. When we were about 17 years younger we used them for about 10 years and they over charged and we ended up owing taxes years later. Ended up being almost 4k because we had custody of a kid for almost the whole year. Had proof from the county the child was in our care. The dad also filed taxes and claimed a child he never even had during that year. In the end H & R block said they couldn't do nothing because so much time had passed since then. We had to make monthly payments for the longest time.
ReplyDeleteI agree sis....by that time SS is broke! It's our first time to use H&R. Normally we do our taxes using turbo tax online but due to our complicated situation with Cali property we hired them. We got a pretty good refund though.
ReplyDeleteSo true. We have the same sentiments here. Sometimes, I-d rather not spend overtime cause it only means a higher salary compensation which equates to a higher tax percentile.
ReplyDeleteYou have to pay taxes wherever you go, and an obligation of a citizen. Can't tell, maybe next year, may taces na rin ang bloogers.
ReplyDeleteYikes! Self employed tax is too much! :(
ReplyDeleteOMG. Ang laki ng tax! But look on the bright side, a large amount of tax means you're earning more.
ReplyDeleteits okay to pay tax as long as we see where the money go...at wag na ma-janet napoles! hehhe
ReplyDeleteHi
ReplyDeleteI think it looks amazing. I'm not sure I would have had the patience that you had though!
WOW! Looks like H&R Block got more from you than you did. I also can't understand why the folks you worked with didn't send you 1099, they should not PayPal... odd. Cheer up!
ReplyDeleteGreat you have your taxes done. Watch out for that next tax bracket
ReplyDelete