Not sure, you could be correct.
-
As of today ICMag has his own Discord server. In this Discord server you can chat, talk with eachother, listen to music, share stories and pictures...and much more. Join now and let's grow together! Join ICMag Discord here! More details in this thread here: here.
The Original O'l Farts Club.
- Thread starter Putembk
- Start date
dogzter
Drapetomaniac
You aint alone.
CaptainLucky
Well-known member
Not if you’re under the poverty threshold. CLAre you collecting social security? That is taxable
I wuz sittin' here, readin'... grinnin'... But I tumbled right away we weren't talking about chickens anymore.
Not if you’re under the poverty threshold. CL
2023 tax brackets and federal income tax rates
| Tax Rate | Single filers | Married filing jointly or qualifying surviving spouse | Married filing separately | Head of household |
|---|---|---|---|---|
| 10% | $0 to $11,000 | $0 to $22,000 | $0 to $11,000 | $0 to $15,700 |
| 12% | $11,001 to $44,725 | $22,001 to $89,450 | $11,001 to $44,725 | $15,701 to $59,850 |
| 22% | $44,726 to $95,375 | $89,451 to $190,750 | $44,726 to $95,375 | $59,851 to $95,350 |
| 24% | $95,376 to $182,100 | $190,751 to $364,200 | $95,376 to $182,100 | $95,351 to $182,100 |
| 32% | $182,101 to $231,250 | $364,201 to $462,500 | $182,101 to $231,250 | $182,101 to $231,250 |
| 35% | $231,251 to $578,125 | $462,501 to $693,750 | $231,251 to $346,875 | $231,251 to $578,100 |
| 37% | $578,126 or more | $693,751 or more | $346,876 or more | $578,101 or more |
Captain, you are correct if you have 0 income and on gov't subsidies. I don't know if that is Bigs situation or not. I know he has said he has done quite well on Bitcoin. I have gold and don't think that has any kind of paper trail and maybe that is his situation as well.
From what I understand and am by no means an expert on the situation but according to the tax brackets above if you have an income you have a tax liability. I pay my taxes, not because I want to I just don't want the IRS climbing up my ass.
If you die on schedule, they have whupped ya. It is one of the main reasons I refuse to die. "They'll have to kill me before I die!" [/Yellowbeard]Gots to tax the taxes in the name of full taxation..........you think you earned that ss?
I have been paying in since I was 12 and doubt I will see A nickel back on my investment.
I entered the Time Of Get Some Back a loong while ago.
My income is essentially nil -- per the gummint (I am in low end of the 12% bracket). And I get dinged helmet bucks. The guy filling out my yearly tax thingy calls it the "Christians' Savings Plan". <-- Returned $, not due $.
The sekrit to long life: Don't die.
OH. Late PS: I started paying for Social Security by surprise when I got my first ever formal job (in 1957). I was shocked to see about $1.80 swiped offa the top for something I knew nothing about. Well, I gottem back in spades, doubled because by my 74th birthday, I had collected back all that had been taken away from me by SS.
Last edited:
Spot on. I just cashed my own annuity, set out 25% or so aside for taxes, and used the whole rest of it on a Cashiers Check made out to my LCD. Got a great no-record deal.
Last edited:
it’s so simple even a caveman can do it
How to Calculate Your Social Security Income Taxes
If your Social Security income is taxable, the amount you pay will depend on your total combined retirement income. However, you will never pay taxes on more than 85% of your Social Security income, though the income brackets will vary by filing status.If you file your income tax return as an individual with a total income that’s less than $25,000, you won’t have to pay taxes on your Social Security benefits. Single filers with a combined income of $25,000 to $34,000 must pay income taxes on up to 50% of their Social Security benefits. If your combined income is more than $34,000, you will pay taxes on up to 85% of your Social Security benefits.
For married couples filing a joint return, you will pay taxes on up to 50% of your Social Security income if you have a combined income of $32,000 to $44,000. If you have a combined income of more than $44,000, you can expect to pay taxes on up to 85% of your Social Security payments.
If 50% of your benefits are subject to tax, the exact amount you include in your taxable income (meaning on your Form 1040) will be the lesser of either:
- half of your annual Social Security benefits OR
- half of the difference between your combined income and the IRS base amount
Half of your total benefits would be $10,962. The difference between your combined income and the base tax bracket (which is $25,000 for single filers) is $5,000. So the taxable amount that you would enter on your federal income tax form is $5,000 because it is lower than half of your annual Social Security benefit.
The example above is for someone who’s paying taxes on 50% of their Social Security benefits. Things get more complex if you’re paying taxes on 85% of your benefits. However, the IRS helps taxpayers by offering software and a worksheet to calculate Social Security tax liability.
dogzter
Drapetomaniac
Judging by his kids actions not much..........we learn from our parents generally.
Hasch
learning and laughing
Well, at least here in Germany the "big guy's" pay very little afaiu.
And then complain about the high taxation...
OleReynard
Well-known member
Social Security is taxable, some states don't like MN but the Feds get their share for sure.
CaptainLucky
Well-known member
If you’re under 15,400 you do or do not have to pay taxes? CL
OleReynard
Well-known member
Gummy prep day today making them with Bubba Kush.
They'll be made out of grape jello
They'll be made out of grape jello
I am not in a situation to speak to that. If you don't have deductions probably not. I lost a lot of my tax shelters when I sold my company. I still have a fairly good income on investments, annuities and property income. Therefore if I don't play the governments game they can take it away.If you’re under 15,400 you do or do not have to pay taxes? CL
Last edited:
