Apparently paying my Iowa taxes

• With or without the tax refund, alre ady know what I am doing, how about others? - Flashy lady
  • Boy, do I need the money - love winter
    • What do you mean, why who would need it? - sm
  • Buying new living room furniture this weekend... - The Other Sunshine
  • all to the savings pot - nm - anon
  • Apparently paying my Iowa taxes - Apple Scruff
  • refund - jlynn
    • When is the wedding and where are - Flash
      • wedding - jlynn
  • paying bills - nm
    • Same here paying bills - NM - LinK
      • paying bills/wedding expense - lessMT

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Appreciate the good thoughts. While I'm about an hour directly south of where Parkersburg, IA, is, that night was spent huddled in the basement as the whole eastern side of Iowa seemed to have tornado warnings going off. I've lived through a tornado as a child, and the total destruction of this past weekend was really too much to comprehend-even after having been through it before. Iowans truly thank everyone who has said a prayer or donated time, money, goods--what a terrific country to live in. In times of trial, Americans truly show their best sides! :)

Christine

This is my first year having to figure taxes w/ IC and I've only done it for a few months.  I'm wondering if anyone can tell me anything they think would be helpful to me regarding filing my taxes.

Here are a few things I have heard:  That I need to send in 30%-40% of my gross pay quarterly.  I have heard I can claim my office space, percentage of my utilities, and any other cost involved with my work BUT  I have also heard that amount has to exceed a certain $ amount before I will be able to claim it.  That really doesn't make any sense to me but I honestly have no clue. 

We normally have our taxes done by a certain company and am considering going to someone else and, of course, plan to ask him loads of questions but I'd like to have some sort of idea from any of you who are doing this of what to expect.

Thank you for any help you can give me.  

Be sure to read all the way to the end!

Tax his land,
Tax his bed,
Tax the table
At which he's fed.

Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.

Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.

Tax his cigars,
Tax his beers,
If he cries, then
Tax his tears.

Tax his car,
Tax his gas,
Find other ways
To tax his ass

Tax all he has
Then let him know
That you won't be done
Till he has no dough.

When he screams and hollers,
Then tax him some more,
Tax him till
He's good and sore.

Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid.

Put these words
upon his tomb,
"Taxes drove me
to my doom..."

When he's gone,
Do not relax,
Its time to apply
The inheritance tax.

Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax,
Fuel permit tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax
Interest expense
Inventory tax
IRS Interest Charges
IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road usage taxes
Sales Tax
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone federal excise tax
Telephone federal universal service fee tax
Telephone federal, state and local surcharge taxes
Telephone minimum usage surcharge tax
Telephone recurring and non-recurring charges tax
Telephone state and local tax
Telephone usage charge tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft registration Tax
Well Permit Tax
Workers Compensation Tax

COMMENTS: Not one of these taxes existed 100 years ago,
and our nation was the most prosperous in the world.
We had absolutely no national debt, had the largest middle class
in the world, and Mom stayed home to raise the kids.
What happened?

And I still have to "press 1" for English
I hope this goes around world 10 times

It's America, I shouldn't have to press
anything to hear English. The constitution
was written in English, not Spanish.

mmm 'scuse me.  I had only my IC income and only Federal taxes to pay last year.  I paid in $7000 and some.  I don't quality for a stimulus check either.  Raking it in? Hardly!  I pay 30% of my taxable income in taxes and I can only take the standard deduction, plus what came out to about $2000 in office expenses last year.  You add up $7K x 3, + 2007 standard deduction for a single person + $2000 and you got my income. 

I don't call that raking it in!

You can claim your adult kids (if you are single) to put you in the head of household category (which is a lower tax bracket) than claiming single. You can't claim married and head of household.   

AND

You have to be able to prove you provided over 50% of their expenses, such a rent, food, utilities.  If they have a job and are working you can't claim them unless you can still prove what you are paying for them is over 50% of their expenses.  So basically they have to have a really lousy job or no job at all or be working spoiled brats!  Mine have fit into all of those categories at one time or another. 

I send my niece a birthday card with money in it every year. I always have to ask my brother if she received it or not. She doesn't even come to the phone and thank me for it, and he doesn't ask her to. That's why for a couple of years I quit sending it....but I figured hey, they can be rude but I'm not going to.

When my son graduated high school, he verbally thanked the people who were here who gave him gifts and/or money, and he either hand wrote (yes, I made him) or emailed distant relatives to thank them.

Oh, by the way - my brother hasn't sent my son a birthday present or card since he was about five years old. I love my brother dearly, but sometimes I just want to smack him.

I loved what that professor said on the show about Hurricaine Katrina.  Of course we didn't see who could pay before we rescued them.  We just needed to help them in a time of natural disaster, and the professor pointed out that if a woman gets breast cancer that IS a natural disaster to her.  I don't think she should have a better chance for survival if she is a rich American versus a poor or middle-class American.

If we can afford the very expensive war we have been in for the last 5 years I think we can afford better healthcare for US citizens.  I feel like although it is important to be safe from terrorists, the most likely threat in many of our lives isn't a terrorist's bomb; I think it is a disease that will cost us hundreds of thousands of dollars in medical bills that we may or may not be able to pay.  I think many Americans die each year because they cannot afford the lifesaving treatment they need to save their own lives, and that is tragedy in my book.

Some people on SS file because they make money on the side, or they also have things that give them interest income.

Are you against SS recipients getting money back? After all, those on SS paid in as long as they worked how many years, and they do deserve it. SS doesn't give eough to live on unless you made a fortune in your earlier years. I don't know anyone who can survive on just SS.

LOL

It is getting harder to make ends meet because of all the straws in our bank account.  I have 17k in CC dept alone.  It is with 4 different CC companies.   One CC has $200, #2  has about 4K, #3 has about 2K, #4 has 10k.  The 10K one has a 15 % APR, the others I believe range from 24% to 29% APR.  My biggest monthly payment is my house and I owe only  $4700 on it and it has 6.3% APR.  I sold some things and am getting $5K and that will be enough to pay off my house.   I would love to finally, officialy own this house and get rid of that $350 monthly pmt,  but I wonder if I should not pay down on the CC because of the high interest rates.  Any opinions.  TIA.