This was sent to me today. I thought it was excellent because I was getting rather confused. This makes it easy for my uncomplicated brain. I think I am worried.
Tag Archives: tax
I think Politicians here in USA at the moment should learn from this example. Russia has become a very wealthy country, not by taxing the life and incentive out of their people.
Russia Income Taxes and Tax Laws 2012
Last update, May 2012.
• Russia has a uniform rate of tax on the income of individuals. As of 2012 tax in Russia is payable at the rate of 13% for an individual on most income. (non-residents 30%). Russian residents pay 9% on dividend income.
• Non-residents pay 15% on dividend income.
• Exemptions are granted to certain income earners.
• The standard rate of Russia corporate profit tax in 2012 is 20%.
• Companies pay 9% tax on dividend income. Under certain terms dividend income received by companies with holding of 50% or more is entitled to participation exemption.
Russian President Vladimir Putin signed a law that has set zero tax rates for agricultural producers on profits.
Hey Wouldn’t It Be Good
Author: Lesley Voth
Get up in the morning and jump for joy
Have that feeling of freedom and excitement, nothing to annoy
Just soak in the sun and feel so well
Anyone got nothing good to say, tell them to go to hell
No World crisis where people are in pain
Everyone in the world has food because of plentiful rain.
No tax man trying to find new ways to rip us to pieces
Politicians with no sense, their bad decisions never ceases
Just to breathe have fun and be productive and go on our way
Enjoy our work, make the country rich, plentiful every single day
To all have enough money that we could live to share
Not just let these morons keep making our lives hard to bear
There is really no place that we can go and hide
Live in a place where we love and have heaps of pride
I guess I am feeling frustrated and down in the dumps
Because I have to sit inside and do my book work for those taxman chumps
Oh Lord what a pile of stapes and papers
I dream of Jeanie and her magical vapours
Well I guess I better get started, it wont disappear
The week is almost over, procrastinated long enough, need a kick in the rear
All I want to do is lay on the beach in the sun
Go have coffee with friends and generally have fun
I will definitely win lotto tomorrow its time I should
That would be great, Hey Wouldn’t that be good
To prepare for retirement you can contribute to a 401K or a Roth 401K.
These funds are similar, but for Tax purposes they are very different.
For example if you invest in a 401K, the money that goes in to this fund is pre tax.
For example, your paycheck is $1000, you deposit $100 in your 401K. The amount you pay tax on is $900.
When you get to retirement age the money you withdraw is taxed on every cent.
With the Roth 401K you pay tax on the $1000 paycheck. You then deposit $100 in your Roth 401K.
When you get to retirement age you do not pay tax on any of your withdrawals. It is Tax free.
Because the future will be very different and taxes are likely to get much higher through the years, the Roth 401k may be the better option.
Is there a big Tax refund coming to you? Do you have a Tax refund of reasonable amount every year?
This year the average tax refund is $3100 which is something to look forward to, but it means you are paying too much Tax on each paycheck.
Ask your payroll people to reduce the amount of tax that they take out of your paycheck. You are obviously paying too much tax and giving your Government interest free money all year.
Your hard-earned money is better in your pocket not the Governments.
When you look at the end result of your salary, you will realize that most of it is paid in Tax.
I think to myself and I include myself in this. How dumb are we? We still go to work and keep paying all the taxes, we don’t complain, well if we do it is usually to a friend or spouse but never publicly, we just let the politicians and bureaucrats keep draining our hard-earned money. We probably only get one days pay a week that we can call our own.
Are we just lazy? Are we scared of authority? Are the Powerful people of the world positioning themselves to make us, the population, so dependent on the powerful few.
What ever it is that is happening, we are letting them do it. The consequences, we have no one to blame but ourselves.
I like to think of myself as a free spirit but I think that will be something of the past for the next generation. If they don’t start taking control of their future they wont be allowed even to say those words.
Am I exaggerating, maybe, I don’t think so.
I think it is time I got out into the beautiful sunshine. This is far too serious for a Sunday afternoon.
At first I thought this was funny….. Then I realized the awful truth of it.
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 work,
Tax his pay,
He works for peanuts
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think..
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.
When he’s gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Airline surcharge tax
Airline Fuel Tax
Airport Maintenance Tax
Building Permit Tax
Capital gains Tax
Corporate Income Tax
Dog License Tax
Driving Permit Tax
Environmental Tax (Fee)
Federal Income Tax
Federal Unemployment (UI)
Fishing License Tax
Food License Tax
Gasoline Tax (too much per litre)
Gross Receipts Tax
Health Medicare Levy Tax
Hunting License Tax
Marriage License Tax
Personal Income Tax
Prescription Drug Tax
Provincial Income and sales tax
Real Estate Tax
Recreational Vehicle Tax
Retail Sales Tax
Service Charge Tax
Telephone Federal Tax
Telephone Federal, Provincial and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Vehicle License Registration Tax
Vehicle Sales & Excise Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
— and in 2010
STILL THINK it’s FUNNY?
Not one of these taxes existed 100 years ago, & our nation was one of the most prosperous in the world.
We had absolutely no national debt, had a large middle class, and Mum stayed home to raise the kids.
Martin S. Kaplan, CPA
If you can do your taxes on your own, fine. But taxes have become so complex that you may want to rely on a professional. Now is the time to pick a good tax preparer for your 2009 return. Questions to ask a professional who might prepare your taxes…
1. Have you prepared returns for other people in my profession (or other retired people)? A taxpayer’s line of work might have tax implications with which the preparer should be familiar. Owners of small manufacturing businesses, for example, face substantially different tax issues than owners of small retail businesses. Actors and artists can claim deductions that the rest of us cannot. Retirees face different tax issues than those still in the workforce.
Follow-up question: Would you please provide a reference or two from clients who are in my field? These references confirm that the tax preparer really does have clients in your profession. Asking for specific types of references also forces the tax preparer to produce different references than the ones he routinely shares, and reduces the odds that these references are in fact mainly his/her friends.
2. Do you have experience with the specific complexities of my return? If your return includes anything out of the ordinary, such as a specific type of trust… a small business… a domestic partnership arrangement… or that you are living overseas as an expatriate, make sure that the tax preparer has dealt with this kind of matter in the past.
3. Are you a licensed CPA? Enrolled agent? Tax attorney? A CPA is a good choice because he has passed a series of tough state examinations, with a concentration in tax law. Enrolled agents are federally licensed tax specialists. A tax attorney has advanced training in tax law — usually a master of laws in taxation — and may have a background in accounting. Stick with tax preparers who have one of these designations. These pros must pass difficult exams and receive ongoing training.
4. Are you going to handle my return personally? If the answer is no, ask, “Will you at least carefully review my return before it is submitted?” and “How experienced is the person who actually will handle my return?” Either 10 years of tax-preparation experience or a CPA designation are good signs, and five years of experience should be the absolute minimum to expect of a tax preparer.