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Topic: I'm Taxed Three Times For My Earnings  (Read 734 times)

lindatucker

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I'm Taxed Three Times For My Earnings
« on: October 24, 2011, 07:46:56 pm »
Taxes are taking out of my pay check before I even get paid. When I retired from my job the federal taxes are taken out of it. Then when I file for my income taxes I have to pay state taxes. Why?
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ancmetro

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Re: I'm Taxed Three Times For My Earnings
« Reply #1 on: October 24, 2011, 09:55:12 pm »

            I know what you mean: Taxes and more taxes and taxes on top of taxes! Google: States with no state taxes- The IRS will give you a list: Among them: Alaska, Florida and Nevada. Google: States with "No Sales Taxes: They will show you the list. Try to relocate to one of these states and save a lot of your hard-earned money.

CHANEYLAKEGIRL

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Re: I'm Taxed Three Times For My Earnings
« Reply #2 on: October 25, 2011, 04:18:32 am »
Savings in a retirement should either be not taxed now or not taxed later, depending on the type of plan you have.  Filing your income taxes does not mean you are taxed again. It totals up your income and either you've paid in enough based on your income/withholding and you get a refund or you have not paid in enough and owe something.

hawkeye3210

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Re: I'm Taxed Three Times For My Earnings
« Reply #3 on: October 25, 2011, 05:16:20 am »
You should have read the responses to thread you started on this last week on this topic.  You are only being taxed once on your earnings.  

acurtsinger2

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Re: I'm Taxed Three Times For My Earnings
« Reply #4 on: October 25, 2011, 07:46:03 am »
the taxes you paY AFTER ARE ACTUALLY JUST TAXES BEING TAKEN FROM THE INTEREST YOU EARNED ON YOUR RETIREMENT.

pirewolf

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Re: I'm Taxed Three Times For My Earnings
« Reply #5 on: October 25, 2011, 08:14:08 am »
Plus if you earn a certain amount on here, even though it is not taken out on the first check, you will have to pay taxes on that too. There are not that many exceptions, but you can go online and see what is tax exempt or what if you buy it can you claim on your taxes. Also being military in a war zone is tax free during that time, and college students with proof of enrollment and claiming themselves don't pay some. My hubby did both this year. He is military and went to afphgan and is a student right now!

eman27

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Re: I'm Taxed Three Times For My Earnings
« Reply #6 on: October 25, 2011, 12:11:30 pm »
Wow man that really sucks.  It just seems like we continue to spend and give the government money for them to turn around and spend it frivolously on unimportant things. 

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