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Posted: Thu Jan 25, 2007 9:14 am Subject: next year on taxes

I did my taxes last night and was told by my accountant to watch next year. Anybody making over 62000 a year is going to get hit hard if the congress and Senate pass the new laws that are being proposed. It was at a standstill this year but they will be doing something. Higher taxes thats all we all need. KYSIDE38

Posted: Thu Jan 25, 2007 9:16 am Subject:

The damn ATM tax got us this year.

Posted: Thu Jan 25, 2007 9:17 am Subject:

What is the ATM tax?

Posted: Thu Jan 25, 2007 9:18 am Subject: taxes

Tammy it will be worse next year. If the Senate passes the new laws it will kill us next year. My accountant has been doing my taxes for 25 years says they will do something. They have to. He advised us to change our deductions to married 0. So at least we wont owe in case this happens. KYSIDE38

Posted: Thu Jan 25, 2007 9:23 am Subject:

Sorry Steelers, it called AMT Tax which is alternative minimum tax.

Posted: Thu Jan 25, 2007 9:27 am Subject: tax

Tammy he had all kinds of info on this posted in his office. He said we will have to watch what they do in this session of legislature. Hopefully with an election year coming things wont get too bad. KYSIDE38

Posted: Thu Jan 25, 2007 9:51 am Subject:

Just another way for Uncle Sam to get our money so he can fund things that he should have stayed out of in the first place.

Posted: Thu Jan 25, 2007 10:59 am Subject:

Boy, that really stinks for anyone in that income bracket. Evil or Very Mad

Posted: Tue Jan 30, 2007 8:40 pm Subject:

So besides the ATM tax, what else are they considering? I have no deductions anyway, so I'm always screwed... Evil or Very Mad

Posted: Wed Jan 31, 2007 4:48 am Subject:

I remember reading where theya re only going to have the 1000.00 child tax credit for a few more years too. Does anyone else recall hearing anything about that?

Posted: Wed Jan 31, 2007 5:10 am Subject:

yeah I fell real sorry for those who make over $60K a year, sorry no symnpathy here, try making it on minimum wage and supporting a family. I personally believe the more income you make the more taxes you should pay.

Posted: Wed Jan 31, 2007 5:15 am Subject:

I do not hold anything against somebody who makes more than $60,000/year. You never know a person's situation, just because they make a certain amount a year doesn't mean they aren't struggling. They could be living with a medical crisis for themselves or taking care of a chronically ill family member with high medical costs out of pocket. I know, I make a very decent salary, but yet I find myself struggling because I am taking care of two disabled children with chronic medical conditions for which no amount of salary could compensate for the out of pocket expenses it costs to care for them and their needs. It is unfair to judge somebody because they make a certain amount of money per year. I know I have busted my a$$ and climbed my way up the ladder to earn what I make on an annual basis.

Posted: Wed Jan 31, 2007 5:55 am Subject:

I guess I don't really agree with hometwoemail on that point. I don't hold what someone makes against them. They're just people, like you and I, they just make more money, and they probably had more schooling and possibly had a few more advantages early in life than I did. They might have the same rotten financial situation I do - they just have it on a larger scale. It's six of one and half a dozen of another in my book.

Posted: Wed Jan 31, 2007 7:09 am Subject:

You also have to look at what part of the country they are in, as the cost of living is different in different parts. Here where I am, trust me, 60k is not that much.

Posted: Wed Jan 31, 2007 7:16 am Subject:

When making a statement like that hometwoemail, you need to consider that people making that amount don't leave on easy street. People have insurance, 401k, and other things taken out of their paycheck. My husband makes good money, but after all is taken out of his paycheck, we pay the monthly bills, we have just enough to get groceries and gas for both vehicles. We can barely make it paycheck to paycheck.

Posted: Wed Jan 31, 2007 7:33 am Subject:

62k in Cal is nothing.. Trust me with rents for 1 bedrooms over 1200.00 a month.. Car Insurance is really high.. the Cost of living is very high here.. and after taxes you are lucky to have money left for any fun forget making ends meet...

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