April 15, It's Tax Day!

[pchang]

Originally posted by rah
It's not just my income, it includes my wife's since we file jointly. And I'm sure once most of you reach the age we're at, you too will also have an equally sizeable tax liability. Of course by then inflation will mean your's will be twice that then.

I'm pretty sure the average houshold income in the US is still less than $50,000 per year.

[chequita guevara]

Originally posted by JohnT
Yeah. Didn't file once in college a year after earning $25,000. Got a letter from the IRS in November telling me that I didn't file and that my estimated penalty was $78

Maybe they thought you owed money?

BTW, anyone know what the statute of limitations on not filing a return when you owe money is?

[JohnT]

It is. ~$43,000, I think.

Edit: Reply to pchang.

[Dis]

Re: April 15, It's Tax Day!

Originally posted by Odin
If you haven's sent your tax returns in you still have until midnight tonight. Fortunately, I sent mine in 2 months ago. I am getting PO'ed at the rediculous number of deductions and credits, there are so many that it seems every little special intrest has thier own deduction, distroying the whole purpose of deductions because eveyone has a special deduction made just for them.

]

I'm pissed because I don't have a deduction made for me

We need a deduction for single nerds who can't find a girlfriend/wife to bear their children.

Those of us here should band together and lobby congress. .

[JohnT]

Originally posted by chegitz guevara


Maybe they thought you owed money?

BTW, anyone know what the statute of limitations on not filing a return when you owe money is?

Possibly. Like I said, I just filed, paid, and that was that. I have no desire to have the IRS on my ass - if they say I owe a measly $78, I'll pay.

[Dis]

Originally posted by rah
My federal tax bill was around $32,000.
But we did get about 1500 back.

you must be rich. How about helping out the less fortunate poly memebers?

[pchang]

Average household income in Santa Clara (silicon valley) is about $70,000 per year. This is directly correlated to our cost of living being significantly higher than elsewhere. It is a really good example of gold rush economics.

[JohnT]

Looks like Rah Co. earned about $150,000 in taxable income last year.

[Japher]

Not bad for being a professional pos(t)er...

[pchang]

I'm sure Rah realized we could do the back calculation, but I'm not sure he planned to make it that explicit....

[JohnT]

Originally posted by pchang
I'm sure Rah realized we could do the back calculation, but I'm not sure he planned to make it that explicit....

That's alright, I've done it to him before. He didn't ban me then, either.

[chequita guevara]

Re: Re: April 15, It's Tax Day!

Originally posted by Dissident
I'm pissed because I don't have a deduction made for me

We need a deduction for single nerds who can't find a girlfriend/wife to bear their children.

You don't need one.

[Lancer]

I wonder if that makes him Poly's biggest bread winner?

[pchang]

No.

[Japher]

We have doctors on the boards who probably make more than him.