The Original O'l Farts Club.

[Putembk]

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

For example, let’s say you’re a single filer who receives a monthly benefit of $1,827, which is the average benefit for 2023. Your total annual benefits would be $21,924. Then let’s say you have a combined income of $30,000.
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.

Sounds simple....why do I need an accountant.....

 

[Putembk]

 

[jokerman]

Thinking you better buy that boat and high tail it outta town

 

[flower~power]

Are you collecting social security? That is taxable

I’m entitled to it & Every now and then I get letters from the Social Security administration detailing the amount of benefits the longer I wait

Thinking you better buy that boat and high tail it outta town

yes ..
but where to go? That’s the question ?

 

[Sun&Soil]

Gummy prep day today making them with Bubba Kush.
They'll be made out of grape jello

Do you use rosin to make them?

 

[OleReynard]

I make mine out of oil and use 150 everclear.
I would like to get a rosin press sured be cheaper.

 

[OleReynard]

I’m entitled to it & Every now and then I get letters from the Social Security administration detailing the amount of benefits the longer I wait

yes ..
but where to go? That’s the question ?

Had the social security admin tell me he's taking his at 62.
There's no guarantee on anything

 

[jokerman]

 

[Sun&Soil]

@OleReynard

I wasn't sure I was making a wise investment when I bought mine because I was afraid it wouldn't get used enough to justify it. Then I discovered how much easier making edibles is with it and haven't looked back. Not to mention no more "green" in the taste.

The time we save making gummies now has more then paid for the press.

 

[Sun&Soil]

@Anyone or everyone can you please check my math?

I press 6grams of rosin and make a general assumption that it is +-80 percent thc.

6 x 0.8=4.8 g(thc)

4.8 x 1000=4800 mg(thc)

After decarboxylating the rosin and adding to my jello mix I end up making 100 gummies.

4800 mg ÷ 100 = 48 mg per gummie

There is a little waste while transferring the mix into the molds..maybe 10 percent of the total?

48mg x .1 = 4.8 mg(waste)

48mg - 4.8mg = 43.2mg per gummie

Does this seem like a reasonable thought process? Missing something?

What say you?

 

[Putembk]

@Anyone or everyone can you please check my math?

I press 6grams of rosin and make a general assumption that it is +-80 percent thc.

6 x 0.8=4.8 g(thc)

4.8 x 1000=4800 mg(thc)

After decarboxylating the rosin and adding to my jello mix I end up making 100 gummies.

4800 mg ÷ 100 = 48 mg per gummie

There is a little waste while transferring the mix into the molds..maybe 10 percent of the total?

48mg x .1 = 4.8 mg(waste)

48mg - 4.8mg = 43.2mg per gummie

Does this seem like a reasonable thought process? Missing something?

What say you?

I say you make me want to make gummies.

 

[OleReynard]

@OleReynard

I wasn't sure I was making a wise investment when I bought mine because I was afraid it wouldn't get used enough to justify it. Then I discovered how much easier making edibles is with it and haven't looked back. Not to mention no more "green" in the taste.

The time we save making gummies now has more then paid for the press.

What press do you have?
I want to get a still also just a 5-6 gallon

 

[Old Uncle Ben]

Excuse me Sir, I'm with the IRS.
Hahaha

"The nine most terrifying words in the English language are: I'm from the Government, and I'm here to help. "

Speaking of taxes, back in 2020 I was sitting on some cash from a land sale the year before and when the market took a DEEP dive during March-April of that year I went all in to stocks. I just killed it but I also had to pay a BIG price to Uncle Sam the Thief - over $18,000 for capital gains and a fine of $400 because I didn't pay in extra during the year.

It just burns me up the way our money is being pissed off now! nuff said....

Make love, and money,
Ben

 

[Old Uncle Ben]

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.

Got in a fight with my wacko dad (RIP) when I said I should have the right to take some of my SS contributions and invest it the way I see fit. "Horrors! How could you be so cold, so un-compassionate!"

Even at a measly 5% compounded interest over a period of say.....45 years and you'd be a millionaire which would be very stimulating for the economy. And yes, would gladly pay into the system, just want some control over MY hard earned money.

I'm all for a consumption tax. Let's say, 12%. You want a $5 mil yacht? Fine, you pay 12% in revenue to the govt. Can only afford a $300 bike to pedal around town? Same deal applies.

Fair and square.....

 

[Putembk]

Damn....give that man a cigar.... SS isn't a reparation it is an entitlement....that is our money.

 

[bigsur51]

I’m entitled to it & Every now and then I get letters from the Social Security administration detailing the amount of benefits the longer I wait

yes ..
but where to go? That’s the question ?

Olon Ecuador or Bitcoin Beach El Salvador are my two Top Spots

 

[dogzter]

@Anyone or everyone can you please check my math?

I press 6grams of rosin and make a general assumption that it is +-80 percent thc.

6 x 0.8=4.8 g(thc)

4.8 x 1000=4800 mg(thc)

After decarboxylating the rosin and adding to my jello mix I end up making 100 gummies.

4800 mg ÷ 100 = 48 mg per gummie

There is a little waste while transferring the mix into the molds..maybe 10 percent of the total?

48mg x .1 = 4.8 mg(waste)

48mg - 4.8mg = 43.2mg per gummie

Does this seem like a reasonable thought process? Missing something?

What say you?

The math with edibles starts with a guess and ends with a assumption.......flower rosin is prolly closer to 70% I would wildly guess.

 

[dogzter]

Got in a fight with my wacko dad (RIP) when I said I should have the right to take some of my SS contributions and invest it the way I see fit. "Horrors! How could you be so cold, so un-compassionate!"

Even at a measly 5% compounded interest over a period of say.....45 years and you'd be a millionaire which would be very stimulating for the economy. And yes, would gladly pay into the system, just want some control over MY hard earned money.

I'm all for a consumption tax. Let's say, 12%. You want a $5 mil yacht? Fine, you pay 12% in revenue to the govt. Can only afford a $300 bike to pedal around town? Same deal applies.

Fair and square.....

The whole corrupt system drives me crazy.

 

[jokerman]

Olon Ecuador or Bitcoin Beach El Salvador are my two Top Spots

Checking out the beach and the allowed attire would be my first point of contact

 

[jokerman]

Just got off the phone with Boo and He told me He is naming.that plump longhorn? 600 lb plant after me
I thought that was sweet...