It's Tax Time Again!!

Maxgoof · Post by **Maxgoof** » Thu Mar 02, 2006 8:12 am

As you know, April 15th is right around the corner.

And our hero, Ralph Hayes, who spends all his time entertaining us, has taxes to pay.

Now, the income tax part is not a problem. At his level of income, he doesn't have much in the way of taxes to pay.

The problem is the self-employed tax. See, every employer, even yourself, has to pay Social Security and Medicare Tax. And, being self-employed, he has to pay not only the part that most of us see in our paychecks, but also the part we don't see that the employer has to pay.

My initial estimates show that this amount is over ONE THOUSAND DOLLARS!!

We need to donate money to help this guy cover his taxes, and the sooner we do it, the better!! Give now!!

Oh, and Ralph....you gotta start making quarterly estimated tax payments. It would require you to pay only one quarter the amount you have to pay in April, but four times a year, in January, April, July, and October.

It would make budgeting much easier.

SolidusRaccoon · Post by **SolidusRaccoon** » Thu Mar 02, 2006 10:34 am

Damn that stinks, the Founding Fathers are spinning in their graves.

IronFox · Post by **IronFox** » Thu Mar 02, 2006 12:54 pm

SolidusRaccoon wrote:Damn that stinks, the Founding Fathers are spinning in their graves.

Well, the problem with the government today is that the Founding Fathers assumed that all people involved in the government would be as honorable as they (the Fathers) were. Can you hear the collective "Oops!" coming from all those old tombs?

T.s.a.o · Post by **T.s.a.o** » Thu Mar 02, 2006 3:49 pm

is the all the new bitttorrent and shareware stuff supposed to be a movement for take all means of living for entertainers? maybe there could be a bill passed to make us pay their bills as our taxes, just so we could get all their works for free, or would that make too many people try to be artists? well isn't american idol already making that happen?

Calbeck · Post by **Calbeck** » Thu Mar 02, 2006 5:47 pm

Sumbish.

Maybe it's time for Roy Calbeck to make another cameo --- but how to work in the horn? -:)

Narnian · Post by **Narnian** » Thu Mar 02, 2006 6:13 pm

SolidusRaccoon wrote:Damn that stinks, the Founding Fathers are spinning in their graves.

Hmmm. Maybe we can use that to generate electricity!

IronFox · Post by **IronFox** » Thu Mar 02, 2006 6:40 pm

Calbeck wrote:Sumbish.

Maybe it's time for Roy Calbeck to make another cameo --- but how to work in the horn? -:)

Taunt a javelin thrower?

T.s.a.o · Post by **T.s.a.o** » Thu Mar 02, 2006 7:18 pm

um, who?

Squeaky Bunny · Post by **Squeaky Bunny** » Thu Mar 02, 2006 9:32 pm

Calbeck wrote:Sumbish.

Maybe it's time for Roy Calbeck to make another cameo --- but how to work in the horn? -:)

Not sure about using the horn for a tax angle, it looks more like a pushpin to me. One thing is certain. You don't have to be inflatable to fear tax time.

T.s.a.o · Post by **T.s.a.o** » Thu Mar 02, 2006 9:44 pm

sigh...to dream of a place where having a big house or having a small house was all a matter of taste

. is it true that if someone else files your taxes, like H&R, if they make a mistake you go to jail for it?

EdBecerra · Post by **EdBecerra** » Thu Mar 02, 2006 11:19 pm

t.s.a.o wrote:sigh...to dream of a place where having a big house or having a small house was all a matter of taste . is it true that if someone else files your taxes, like H&R, if they make a mistake you go to jail for it?

Actually, with H&R Block, the contract you sign with them stipulates that in the event that they are at fault for whatever error caused the IRS to flag your return and pull you in, H&R has to pay all the assessed fines caused by miscalculations.

You still have to pay for any undervaluations... say they set the value of something too low, and that your taxes would have been $100 higher if the value was correct. In that event, you pay the $100, while H&R pays the fines, court costs, and associated fees.

At least that's the way they used to do it when they did my returns, back in the day.

Maxgoof · Post by **Maxgoof** » Fri Mar 03, 2006 5:16 am

t.s.a.o wrote:sigh...to dream of a place where having a big house or having a small house was all a matter of taste . is it true that if someone else files your taxes, like H&R, if they make a mistake you go to jail for it?

No, that is not true at all. I worked for H&R Block this year, and if H&R Block makes a mistake on your taxes, *they* take responsibility for the mistake. Meaning, they will pay any interest and penalty on the additional tax you will have to pay.

The IRS is not so stupid as to punish the taxpayer for a mistake made by the tax preparer.

Maxgoof · Post by **Maxgoof** » Fri Mar 03, 2006 5:20 am

EdBecerra wrote:Actually, with H&R Block, the contract you sign with them stipulates that in the event that they are at fault for whatever error caused the IRS to flag your return and pull you in, H&R has to pay all the assessed fines caused by miscalculations.

You still have to pay for any undervaluations... say they set the value of something too low, and that your taxes would have been $100 higher if the value was correct. In that event, you pay the $100, while H&R pays the fines, court costs, and associated fees.

At least that's the way they used to do it when they did my returns, back in the day.

That's pretty much correct. However, if you purchase their "Peace of Mind" Guarantee, H&R Block will reimburse you for the additional tax as well, up to $5,000.

This is assuming that the mistake was H&R Block's. If you "forget" to mention the $10,000 prize you got from the High Rollers Casino, for instance, they won't pay the additional tax, interest, or penalty on that. H&R Block can't take responsibility for things you don't tell them.

Alaskawolf · Post by **Alaskawolf** » Fri Mar 03, 2006 1:10 pm

may be i can join some separatist mountain men and not pay taxes

or just live out in the bush