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I need some tax questions answered, please help if you understand I don't want to get raped by the govt, when it is tax time
This year, lets say I made 50k exactly, and I paid roughly 15-16k in taxes throughout the year. They taxed me at 25% and took out less than 20k in taxes
Do i still have to pay federal/state tax come tax season? Am i not understanding something here, why would they take money from me if they already took more than 15k throughout the year!!!
reeeeeeeeeeeeeeee
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>>1565501
There's state income tax, federal income tax, property tax, etc. More than just what comes out of your paycheck. Go to a CPA and have them figure out what you need to pay. Worth the money my man.
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I don't understand this at all
If I made 50k this year
They took 15k+ in income taxes
Why would I have to pay anything additional? They take 1500 a month in taxes from each pay period...
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>>1565535
>Why?
To fund infrastructure, health care, social security, defense and international security, safety net programs, and interest on national debt.
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>>1565535
Holy shit you are retarded or new to the workforce or both. The deductions from your paycheck are estimated withholdings - your employer withholds them and then pays on your behalf at the end of the year. But they are just estimates, so when the state and federal tax boards actually calculate the tax owed, you may be over/under and get a refund or owe more. If you owe more, withhold more next year and vice versa if you received a refund.
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>>1565562
pretty well explained
op you retarded desu
do some research , 30 mins on taxes would do no harm
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>>1565553
Shut the fuck up, more like
To fund wars in middle east, to sell gov contracts over priced to large corporations, to welfare to keep poor paying insurance and buying things poor people buy, to fund coruppt agencys like fda and nsa and such
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>>1565501
You should not have to pay any more, you may even get some back depending on your deductions.
Just look up a CPA in your town and stop by their office.
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>>1565600
You should really go outside more kid. That post shows strong signs of schizophrenia, early-stages of psychosis mixed with paranoia, and mild-autism from the grammatical errors.
10/10 would seek further medical attention
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>>1565562
>Withhold more if you owe money
Are you retarded? I bet you love your fucking refund. Lending the government money completely interest free is great.
The only exception should be if you're too retarded to be trusted with your own money and would sink yourself with the extra money on your paychecks.
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>>1565600
Is this bait?
Most people here hate taxes and so do I.
Are you mocking anti-tax people?
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>>1565501
I have a different kind of tax question.
I have a registered business in Hong Kong, as you do. Organised online, just signed some papers there but I could have even done that by post. Currently doing tax filings with the accountancy firm that opened it for me.
There's a line in the Managerial Account which they produced that confuses me and their explanation didn't make much sense to me either.
pic related
What is an "Amount Due From Director"?
I'm the sole-shareholder and sole employee/director. I'm basically still a wage-slave except that I consult through my business now and work remotely while travelling sometimes.
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