I was hoping that I wouldn’t have to post an Official Comment Policy. It’s a blog, for goodness sake, not a roadmap to life. I kind of thought that people would wander over to my site, give it a once over and leave a comment or two that was relatively useful. And for the most part, that’s what has happened. Until those morons started posting links to Herbalife sites (yeah, I did blog about them, sort of) and other pointless links to phantom sites. Enough is enough. So, here is my official Comment Policy:
1. Introduce yourself. I don’t need a copy of your license, your Social Security number or a note from your mother. But I would like to know who you are, a tidbit like “a lawyer from Alabama” or a “weird Herbalife nut”. And if you pretend to be someone else and I can tell you’re pretending then I have no choice but to delete you. We have to have some measure of decorum here.
2. You don’t have to have a blogger account. You can post anonymously, but the rules still apply.
3. To cut down on automated spam, I’ve added the word verification feature. All you have to do is type in the characters that you see before you post. It’s not a test to see how smart you are or anything, just to make sure that you’re human and not a computer. But if you can’t type in those characters as a human, I’m not so sure you should be posting anyhow.
4. Keep it clean and reasonably nice. My mother could be reading. And the last thing I need is a call from my mother explaining that people on my blog aren’t very nice. She’s already a bit concerned about my living in Philadelphia, so we don’t need to add to the list of worries. She loves me, she’s a Southern mom, she worries, it’s what she does. I don’t want to have to increase her blood pressure medication because of something that you wrote. So be nice.
5. No spam, no selling products or services, no free advertising for your own blog. Talk to Google or Yahoo if you need advertising. And if you’re a lawyer trolling for business, shame on you.
If I think of anything else, I reserve the right to change my mind. And not because I’m a lawyer, but because I just do.
Enjoy the blog!
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{ 6 comments… read them below or add one }
Do you know where to find current statistics on whence the federal government’s tax revenues are generated? The Treasury website has limited and very old data.
That said, I have found it a great annoyance to have heard repeatedly by politicians of every stripe and pundits, alike, about how the “bailout” or “economic rescue” is at the expense of the taxpayers.
While that may well ultimately end up being true, the manner in which such sentiments are spoken is usually meant to leave the impression that the “fat cats” on Wall Street and other assorted corporate titans are being showered with money squeezed from the “Joe the Plumber” types. In reality (as I don’t believe it’s changed that much since 2002 or whenever the latest Treasury data was collected), over 50% of federal income tax revenue comes from Bill Gates and Warren Buffet.
Since I’m on the subject of taxes and on a rant, another of my pet peeves is the way Federal Insurance Contributions Act (Old Age Survivors and Disability Income) and Medicare taxes have been totally ignored. Most Americans seem to be laboring under the false impression that there is some kind of fund collecting their retirements (akin to a defined benefit or defined contribution pension plan) that they are entitled to receive with earned investment income. They fail to realize that it is a pay-as-you-go system from which every recipient–to this day–has received far more (many, many times) what he or she paid into it … and that Congress has never had the stomach (much less the political will) to do anything about.
Social Security taxes make up a significant portion of federal revenues, approximately equalling or exceeding the federal income tax revenues. What is AARP’s position on the subject? Of course, the elderly are entitled to it (by law, no doubt correct) … do they feel a responsibility to future generations? It seems to be in vogue to express concern about saddling future generations with the debt created by the “economic rescue” plan, but what about the economic rescue of a couple of generations (including baby boomers) of seniors whose only retirement plan was to expect Social Security to be there for them?
Off my soap box for now … if you have sources for federal income tax revenues, I’d be interested in seeing them (or links).
My husband and I have been in the US for six months. He his a professor for a private University and also a minister. He paid tax for four months through his employer, in October he took on a self employed status as he is a minister so in November no tax was taken. We have never done tax returns before – being from the UK and not self employed. We really need to know where to start.
Self employment tax is paid with your federal income tax return (IRS Form 1040) using Schedule SE. As you’re no longer having taxes withheld, you should begin making quarterly estimated payments using Form 1040-ES. You can go to the IRS website for instructions for these forms and perhaps search for a publication.
The only other observation I would make, is that since you are foreign nationals (from the UK), there may be a “totalization agreement” between the US and UK with regards to the national retirement system under which you are covered. This may affect the type and amount of social security tax (self-employment tax) owed; so, I would investigate that issue further.
Disclaimer – this does not constitute professional or legal advice; you should consult your tax professional.
Can you tell me what the taxes will look like on a retirement buyout, and if there is a way to avoid or put them off? The company in question is offering almost 500K in a lump sum in lieu of monthly check and medical benefits. Thanks!
Hi tax girl love your blog, I did not think there was anyone that loved to write about taxes. Very useful indeed.
I am concerned about taxing health care benefits. I read your blog. But, what about a single mother making $50,000.00 per year with 3 kids. Her family policy is worth $12,700.00 according to your example. If they tax that, it will in effect make her salary go down. Its hard enough splitting the net of 50K after taxes among four people. This won’t help in this economy.
What are your thoughts?