Tax system sucks

It's the 19th Anniversary for T1B - Fuckin' A

Moderator: Jesus H Christ

Post Reply
Trampis
Eternal Scobode
Posts: 1486
Joined: Mon Jan 17, 2005 9:19 pm

Tax system sucks

Post by Trampis »

Stocks:
I bought and sold a foreign(Canadien) stock and now I have to make sure and fill out form 8612,...I think.

What is it? Buy and sell stocks in under a year and its short term gain and taxed differently then if i hold it for a year or longer?

If I buy a stock that I have a loss in I cant sell it for 30 days, lest i wont have full loss. In the mean time the stock price drops further.

Farm:

If I sell farm products that end up being exported(hay), I pay less taxes then if the product was consumed here. Something like, subtract 30% of total revenues of exported product to be taxed. Then I have to figure out how much expense gets put toward the export catigory compared to domestic....worth figuring out in the end, but a pain in the ass. Has to do with NAFTA. Terrestrial tax I think they call it.

Filled out some stupid form so I didnt have to pay sales tax here in washington on replacement parts for farm machinery, but tires dont count nor some other stuff, batteries, brake linings ect. Every business that I go to has to have my form on file.

Filled out another form, I think, this shit all blends together after a while, to not pay sales tax on offroad diesel. Again the oil company has to have my form on file.

Theres another one that if I buy a new piece of equipment that can be used to reduce field burning i dont have to pay sales tax on said new item, but the item has to be used for 51% of said purpose. Some guys got busted for this recently.

Paid $250 to the local farm agency(FSA) to keep me eligible for certain farm subsidies, which may or may not happen, but I have to pay 250 now.

Because i dont pay quarterly taxes my tax bill is due March 1 not April 15. No gov savings plan,ie., refund, for me.

Health care;
My $237.99/month for H.I. is 100% tax deductible because Im a farmer and I guess business owner, but my wifes and stepsons $380 a month is not tax deductible because she gets to buy H.I. through her employer. Why?

Car tabs: Here in Wa. we voted to have a flat fee of $30/ year for car tabs. Before that a new car tab would set you back $400/year older cars less. State legislature found a way to increase this by making us pay a tonnage fee, thus my F-250 pays $61/year and my S-10 pays $51/year. I suppose a Ford focus must be counted for a couple hundred lbs. in groceries? Maybe $31.50?

Anyways...
User avatar
Mikey
Carbon Neutral since 1955
Posts: 31669
Joined: Sat Jan 15, 2005 6:06 pm
Location: Paradise

Re: Tax system sucks

Post by Mikey »

It's Obama's fault.
BSmack
2005 and 2010 JFFL Champion
Posts: 29350
Joined: Sat Jan 15, 2005 2:21 pm
Location: Lookin for tards

Re: Tax system sucks

Post by BSmack »

Barack don't care about black people.
"Once upon a time, dinosaurs didn't have families. They lived in the woods and ate their children. It was a golden age."

—Earl Sinclair

"I do have respect for authority even though I throw jelly dicks at them.

- Antonio Brown
User avatar
ChargerMike
2007/2011 JFFL champ
Posts: 5647
Joined: Sat Jan 15, 2005 6:26 pm
Location: So.Cal.

Re: Tax system sucks

Post by ChargerMike »

Mikey's spot on per usual.
JIP said...Hell, Michael Sam has more integrity than you do.

Image
User avatar
Bobby42
Natural Man
Posts: 2111
Joined: Fri Jan 14, 2005 4:20 am
Location: Buckeye Nation

Re: Tax system sucks

Post by Bobby42 »

ChargerMike wrote:Mikey's spot on per usual.
Yep. As long as he can find the pull-tab.
Post Reply