The Down Range Forum
Member Section => Down Range Cafe => Topic started by: TAB on March 02, 2019, 03:34:29 PM
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So I just got mine done for last year, I have too pay 43.78% in tax/ ss/ state/ local... sure feels great*sarcasm *
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Fook 'em all! A couple of things
save me money on taxes let me keep more of my money. Only 13 states tax social security and Michigan isn't one of them. And I don't have to pay city income taxes anymore. Not until I inherit a pile of money or win the lottery.
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just a comment for those of you able to put something away for retirement....get good financial advice from a fiduciary and not someone that is going to make a commission on selling you a product... look at your future tax liability,,, when I was younger I was not able to take advantage of a Roth IRA as a payroll deduction until the later part of my working life... it sounds good for you to invest pre tax money into a mutual fund and not pay taxes until you take it out, when supposedly you will be at a lower tax rate....
just remember, the year you turn 70 and 1/2, you must start taking "required minimum distributions" of any tax deferred accounts.... for me, my actuarial death would be at 86 (I should be so lucky) so I'm required to take 1/16 of the value in the accounts as income, and pay taxes on it.... this is a time when you do not have a JOB!!!
look at some alternative tax strategies....tax free municipal bonds, Roth IRA, fixed annuities..... I'm not an advisor, seek professional help
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I had some money in the bank but not enough to retire on. I thought I would work for more than a decade longer than I did and retire from GM when I got 30 years in. Just because I thought there was plenty of time to save up didn't mean there was. Anyone who's still working should be putting away more than they think they need to, just in case. No matter how you invest it or how much tax you have to pay on it, you'll be glad it's there when you need it.
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I make about 85k and I’m pretty much broke...sad but I’m not alone!
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Back when I made that I actually had money. Now it seems to go just as fast as it comes in. More money more problems. If I didn't have 260k in people owing me money I would actually have it. Getting people too pay is the hardest part. So much so they I have a lawyer that just deals with my none payments. Tomorrow I have too serve a 1st time, last time client. That is 6 months over do on a 19k bill, it's now 26k. If we go too trial it will be another 5k at least. My current pay roll is 112k every 2 weeks.
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I make about 85k and I’m pretty much broke...sad but I’m not alone!
I never made that much even when I was working 13 out of 14 days plus working overtime on almost all of them. I think I made half as much in my best year. It must really suck for you and TAB to have that much money, instead of getting by on half a paycheck like me.
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I never made that much even when I was working 13 out of 14 days plus working overtime on almost all of them. I think I made half as much in my best year. It must really suck for you and TAB to have that much money, instead of getting by on half a paycheck like me.
“We don't rise to the level of our expectations, we fall to the level of our training.”
Archilochus, 650 BC
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I exaggerated when I said half a paycheck. It's more than that but still not as much as I made when I was working.
If you don't count child labor I've only had 2 jobs. One in the army and one for GM. I joined the army when I was 17 with no prior training required, and my training in the army didn't prepare me to do much of anything when I got out. When I interviewed for GM the woman doing the interview saw on my resume that I was a veteran and asked me, have you ever had a real job? It was hard to not say anything, like, getting paid a dollar an hour to protect your freedom was a real job.
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I never made that much even when I was working 13 out of 14 days plus working overtime on almost all of them. I think I made half as much in my best year. It must really suck for you and TAB to have that much money, instead of getting by on half a paycheck like me.
Yes but. How many people work 120 hours a week. My hourly rate has too be about $20/ hr
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Yes but. How many people work 120 hours a week. My hourly rate has too be about $20/ hr
I don't know anyone who can work for over 17 hours a day, 7 days a week. I've seen people at work for long hours but not working the whole time, and they still didn't "work" 120 hours a week. It's not legal to work that many hours on a lot of jobs. You'd never even be able to get a full 7 hours sleep even if you slept in your car on site and NEVER went home, to the store, to the doctor, etc.
I got to the point where I had to turn down all voluntary overtime because the long hours I already worked wore out my body. Just working the hours I was forced to gave me carpal tunnel syndrome in both wrists and wore the cartilage away in one shoulder. After 10 years of bones grinding together I had to get a chunk of one bone removed. Then I couldn't work at all for 6 months while I recovered from surgery. Anyone who can work for 120 hours a week and not wear their body out beyond repair must have better genetics than me.
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Oh trust me, I pay for it. I left the house at 3:55. It's now 9:18. I have been home about 30 mins, I am printing 90 pages. I have 2 letters too write and 3 invoices. I should be done in 2 hours. I am use too it
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I wish your taxes went to me instead of the government. I'd even give you a 50% tax break and be happier than a pig that's not in s**t.
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I never made that much even when I was working 13 out of 14 days plus working overtime on almost all of them. I think I made half as much in my best year. It must really suck for you and TAB to have that much money, instead of getting by on half a paycheck like me.
I wasn't bragging, Frank!
I should be able to save but I have a disabled spouse. Her care takes money...besides the expense of living in the east which isn't going to change, ever... I've just gotta work for the rest of my life to make sure she gets what she needs!
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That sucks Timothy. No wonder you're not in better financial shape. I've known people who worked all the overtime they could and didn't actually own much of anything. They pissed it all away on payments on big boy's toys. I'm glad to know you're not one of those guys. They'll be working until the day they die too. Death and taxes... :(
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That sucks Timothy. No wonder you're not in better financial shape. I've known people who worked all the overtime they could and didn't actually own much of anything. They pissed it all away on payments on big boy's toys. I'm glad to know you're not one of those guys. They'll be working until the day they die too. Death and taxes... :(
hey, I am one of those guys, but all my big boy toys are for work. I just bought a cat 420f2. With a loader bucket and extend hoe... I spent just under 140. Payment is right at 3k for 48 months. I got tired or renting them. 300/ day and 300 for delivery/ pick up.
I don't want anything bigger
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That sucks Timothy. No wonder you're not in better financial shape. I've known people who worked all the overtime they could and didn't actually own much of anything. They pissed it all away on payments on big boy's toys. I'm glad to know you're not one of those guys. They'll be working until the day they die too. Death and taxes... :(
My truck turns 16 in about 3 weeks! LOL
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My truck turns 16 in about 3 weeks! LOL
I drive the 97 f250hd all of my work trucks are 17 or 18. I honestly hate them. I would love too find a truck with wind wings.
I drive my cars into the ground. Company stuff gets replaced as soon as I can no longer write it off
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Oh, and we have mechanics in our shop making low six figures! I work in the engineering dept but never graduated. Probably cost me a few bucks over the decades...
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Our new dummycrap governor wants to add an additional 45 cents per gallon tax on gasoline and use the money to fix the roads. That's what they were supposed to do with the money when they raised it 15 months ago to the 5th highest rate in the country.