“Your home is two thousand, three hundred and twenty-five square feet. Current IRS code allows us to reduce your taxable income by a percentage of your workspace relative to the overall size of your house.” – The Accountant
How long do leftovers have to be in the fridge before I can count them as dependents? Asking for a friend.
Spent all day doing taxes and money stuff. Regular post on Wednesday, but please enjoy these tax-related memes I found. Regular post on Wednesday.
I’m always thankful this time of year that I live in Tennessee as we don’t have a state income tax and the government mostly leaves us alone. Roads are well maintained, schools are good and cost of living is low so it is a textbook example that income taxes aren’t needed. to maintain basic services.
I’ve also lived in high income tax states (and still own family property in one) and it seems like those governments are/were constantly telling me what I could and couldn’t do (and despite the much higher taxes, the services weren’t any better). I don’t know how people can stand living in those high tax nanny states.
J-Bird
Be sure to file and pay on time, those dollars for Israel and Ukraine aren’t going to print themselves.
Oh wait, yes they are.
Taxes are important. Somebody has to pay for the parks, empty office buildings and Chelsea Clinton’s slush fund.
The road pic reminded me of the tertiary road in Indiana where Sweetie’s sister lives. More patches than a 10-year old pair of blue jeans. We’ve plenty of bad roads in SC, but nothing like that.
Which brings me to DOGE. Where’s my tax refund from all the USAID, et al, fraud elimination?
Paying this year‘s taxes is especially bitter concerning how in your face all the revelations have been. I mean, I always knew there was waste fraud abuse but when it’s in your faces that much more humiliating.
Anon-
I support Trump, but he could easily make 90% of the country happy with one fell swoop – eliminate the IRS. But he can’t. Or won’t.
Sooo, let’s do this, as for personal income:
1. Single Exemption : $50K. Married: $100K, w/ $25k/dependent.
2. 5% Tax $50-100K. 10% $100-200K. $200K-$1MM 15%. $1MM+, 17.5%. Only exemption is for charitable donations, no more than 10% of taxable/earned income.
3. Non-charitable NGOs pay 40% tax on donations/earned income. Saw that Rogan’s is a total fraud today.
4. These rates apply to Hedge Funds, the Blackrocks & TBTF Banksters. If you don’t hold a financial instrument for 10 Business Days, you pay an 0.001 transaction fee when sold.
As for LLCs (more than 1 partner), S Corps, & C Corps, similar rates. Keep the 179s but expand deductions based on gross sales and EBIDTA.
As Marty Armstrong notes, why have an income tax? MMT takes care of $$$ creation. Plus, we learn there are at least 14 Black Banks doing MMT.
To err is human
But this you must learn:
Don’t be human
On your tax return!
It’s late advice now but if you dislike the IRS file your next return in sloppy handwriting. Make them work for it.