How much will i have to pay for taxes this year? - GoFuckYourself.com

James94 · 10-19-2001, 03:51 PM

Can anybody estimate how much you would have to pay say if you made $20,000 in a year how much am I going to have to pay? I thought I read somewhere that they tax you 12% of whatever your total income was I just need an estimate. If i make 20,000 this year and they tax 12% of that i'll have to pay $2,400

boneprone · 10-19-2001, 03:56 PM

its more than 12% bro!

Are you in the US or Mexico?

Dirty F · 10-19-2001, 03:58 PM

12% OMG where do you live! Im gonna move there too and live like a king.

Marcus · 10-19-2001, 04:00 PM

I'm no tax guru but I would figure 30%. state and federal dude.

boneprone · 10-19-2001, 04:01 PM

higher

boneprone · 10-19-2001, 04:01 PM

federal alone is above 30%, let alone the state.

boneprone · 10-19-2001, 04:02 PM

save your recipts to the porn shops and the jack shacks.

boneprone · 10-19-2001, 04:02 PM

they will cumm in "handy"

m0rph3us · 10-19-2001, 04:06 PM

In Canada after you substract company related spendings you must pay 30%.
In US i believe it is 38% (i might be wrong about US)

=)

boneprone · 10-19-2001, 04:08 PM

I need to move to Canada soon. I hear BC is nice!

Marcus · 10-19-2001, 04:10 PM

when are we (in the US) supposed to pay anyways? and where do we go?

James94 · 10-19-2001, 04:16 PM

so it's around 35% to 40% of my total income after i subtract my spending.....is that 38% including state and fed?

$20,000 35% = $7,000...... i'll have to make payments then!! lol

boneprone · 10-19-2001, 04:18 PM

U will get 1099's back from your sponsors and you pay on what they report..
That is you income.. Do you taxes like normal, and report that as your income.

You get the 1099 from your sponsors arouns feb-march

Marcus · 10-19-2001, 04:21 PM

Quote:

Originally posted by boneprone:
You get the 1099 from your sponsors arouns feb-march

thanks but arent we supposed to pay quarterly?

sky9x · 10-19-2001, 05:15 PM

You're not going to have to pay 30% if you only made $20,000. I made I think $22,000 one year a few years back and I remember paying about $2,500 in taxes....roughly.

boneprone · 10-19-2001, 05:19 PM

sure you can pay quartely. It is prefered, but you dont have to.

Its more of a saftey net so you dont have to pay one big check in April.

They prefer quartley or even monthly, but if ya dont no big deal.. Its a small fine, but for people like me it is easier to keep the $$ and gamble with it insted and just pay them all in April

stangster · 10-19-2001, 05:25 PM

Quote:

Originally posted by Marcus:
thanks but arent we supposed to pay quarterly?

ONLY if you make more than $36,000.

I just wish they gave us schedule c'ers the standardized deduction of $11,000.

I need more receipts..

------------------
TopBucks - $40 per trial! $250 sign up bonus!
Young Latina 1 in 300 latina site.

stangster · 10-19-2001, 05:27 PM

Quote:

They prefer quartley or even monthly, but if ya dont no big deal.. Its a small fine, but for people like me it is easier to keep the $$ and gamble with it insted and just pay them all in April

exactly..

------------------
TopBucks - $40 per trial! $250 sign up bonus!
Young Latina 1 in 300 latina site.

m0rph3us · 10-19-2001, 05:30 PM

Does IBILL/CCBILL send tax forms? Whta if your sponsors don't send you forms or if you have your own paysite?

stangster · 10-19-2001, 05:35 PM

Quote:

Originally posted by m0rph3us:
Does IBILL/CCBILL send tax forms? Whta if your sponsors don't send you forms or if you have your own paysite?

THAT is exactly the kind of stuff they like when you get audited..

Remember..it's compounded interest plus penalities..

------------------
TopBucks - $40 per trial! $250 sign up bonus!
Young Latina 1 in 300 latina site.

Phil21 · 10-19-2001, 05:41 PM

Hahahaha, 12%?!?! Man!

$20k/yr will easily hit 30% when you figure in fed/state/SS tax/medicare. Easily. This is before your deductions if you have any.

Man, I did 1099 work before this whole adult thing, and about 45% (granted, I was making $2,000/week) was taken in taxes. I was 18 and couldn't really deduct a damn fucking thing (and was too stupid to even try).

If you make a decent amount of cash a year ($45k+) expect at least 35% taken out, AFTER normal-like deductions (assuming you're not a home owner, and don't have dependents other than yourself).

-Phil

boneprone · 10-19-2001, 05:47 PM

Phil22 is right.

[Labret] · 10-19-2001, 05:55 PM

Dude.

I hate these threads, all they fucking do is depress me.

Absolut · 10-19-2001, 08:48 PM

Quote:

Originally posted by Battuss:
12% OMG where do you live! Im gonna move there too and live like a king.

We have 13% here in Russia

------------------
www.ferrocash.com
Great niche sites to promote!

^R3K^ · 10-19-2001, 09:01 PM

TAXS???? DAMMIT.. SHIT DAMMIT I KNEW THERE WAS A CATCH TO THIS PORN SHIT.. FUCK IT I WANT PAY AND WILL MOVE TO CANADA.. ill act like i have a flip-top head and live in bliss with the bears.. hooraa

boneprone · 10-19-2001, 09:15 PM

13% in Russia? Cool.
But one thing about Russia.. If you lie at all about your taxes, they dont fine and compound intrest you like here in the US, they just come and fucking shoot you!

Russian Government is not a Governement to try to trick! It could cost you your life if they know you are hiding good $$!

Absolut · 10-20-2001, 02:41 PM

Quote:

Originally posted by boneprone:
13% in Russia? Cool.
But one thing about Russia.. If you lie at all about your taxes, they dont fine and compound intrest you like here in the US, they just come and fucking shoot you!

Russian Government is not a Governement to try to trick! It could cost you your life if they know you are hiding good $$!

Nope i guess it would cost you about 50 years of prison in Siberia but not your life..
LOL!

BP Russia became different, we don't have fucking commies here anymore. We have our law and that's all.
And i guess US law is much more severe about taxes hiding. Here in Russia you can get 3 years of prison max if they get your ass for this.
And as far as i know in US you can get 30 years or even more.

------------------
www.ferrocash.com
Great niche sites to promote!

sasush · 10-20-2001, 02:47 PM

Quote:

Originally posted by Absolut:

We have 13% here in Russia

Do you live like a king there ?

SockPuppet · 10-20-2001, 02:54 PM

I always try to assume 1/3 of it all goes t Uncle Sam. comes out about right, that is unless your incorporated.

Personally, I Keep every receipt that I can remember to get. Taxis, meals, coffee, trips, beer, any supplies or PC equip and software.

That and a good accountant and your safe IMO.

ezekiel · 10-20-2001, 02:58 PM

Quote:

Originally posted by [Labret]:

Dude.

I hate these threads, all they fucking do is depress me.

I feel ya man. I don't even want to think about this shit until I have to.

GatorB · 10-20-2001, 03:07 PM

The first thing we have to know is if the $20K is the only income you have coming in.

If it is we also have to know whether your single, married, have kids or not.

If you were single then you'd be able to deduct about $7000 off your income for standard deduction and dependant deduction for yourself.

Now if you have receipts for business expenses like hosting, content and such then you can deduct that too.

Now you have to pay FICA TAX(social security and medicare taxes) too. Now unlike a job where you pay the basic 7.65% you also have to pay the employer part(also 7.65%) too, since your both the employer AND the employee. BUT you get to deduct the 7.65% that you pay as the employer(which would be $1530 of $20k) off your taxable income.

So let me give you a basic scenario if your a single person with no kids and no other income and no business expenses to be deducted)

$20,000 income minus $7,000(standard deduction)leaves $13,000 now minus $1,530(for employer part of FICA tax)leaves 11,470 TAXABLE income.

Now under the new federal tax laws the first $6000(for single filer) of taxable income is taxed at 10% so that would be $600 and the remaining 5,470 would be taxed at 15%, which would be about $821 for a total of $1421 in FEDERAL INCOME TAXES, remember you also have to pay $3060 in FICA taxes so those 2 combined = $4481 or about 22% of every $ you make. Of course if you have kids and/or are married with no other income or you have business expenses you may pay no income tax at all, BUT you will pay the FICA tax even if you made $1 for the year.

I don't know about state taxes because the only states I've lived in and worked are Florida and Tennessee and they don't have a state income tax.

Absolut · 10-20-2001, 04:14 PM

Quote:

Originally posted by sasush:
Do you live like a king there ?

Well even if you earn much and pay as low as 13% in taxes you can't live like a king in a poor country, you know. You can't feel safe 'cause there are many poor people around and some of them hate you for your success.
To live like a king i should live in rich country paying taxes in Russia.
i think i'll try it some day

------------------
www.ferrocash.com
Great niche sites to promote!

Freeway · 10-20-2001, 04:22 PM

Why do people pay taxes in the U.S.?
It's not like you get health care or anything.

Theo · 10-20-2001, 04:23 PM

absolut,how is the financial situation in Russia lately?

Jer · 10-20-2001, 04:30 PM

Max taxes in Brazil are 27,5%. If you make US$20,000 per year or US$1 million per year, you'll have to pay 27,5%

Jer · 10-20-2001, 04:47 PM

I forgot to say our tax system sucks big time.

ldinternet · 10-20-2001, 04:56 PM

Simple solution, take your business offshore

Jer · 10-20-2001, 05:01 PM

We can't deduct most of things you US people can, and have slow limits (in $, not real values, so sucks even more) to what we can.
And a lot of others bad things. Did I say it sucks?

Absolut · 10-20-2001, 05:11 PM

Quote:

Originally posted by Soul_Rebel:
absolut,how is the financial situation in Russia lately?

It looks kinda stable for a couple of last years, Russia even started to pay the debts in this year. But the biggest problem here that you never can tell and can't plan your future for a long time. Our industry (big part of it) is still dead and the economy depends very much on oil prices in international market and so on.
Hope we will be fine but with all these taliban bastards who knows..

------------------
www.ferrocash.com
Great niche sites to promote!

[This message has been edited by Absolut (edited 10-20-2001).]

Absolut · 10-20-2001, 05:14 PM

oops double

[This message has been edited by Absolut (edited 10-20-2001).]

Keev · 10-20-2001, 06:35 PM

Keep receipts of anything you buy that could be written off as a business expense computer, hosting, content, gas, food (business lunches) everyday, programming, scripts u name it new pc, hardware, software!

pimplink · 10-20-2001, 06:37 PM

Try IRS.GOV I'm sure they have the basic rates there. Make sure you adjust your income though [business expenses, etc]

------------------
Custom Programming! Looking for desktop or server applications? Email me -- reasonable rates, TOP quality!
[email protected]

sasush · 10-21-2001, 07:50 PM

Quote:

Originally posted by Absolut:
Well even if you earn much and pay as low as 13% in taxes you can't live like a king in a poor country, you know. You can't feel safe 'cause there are many poor people around and some of them hate you for your success.
To live like a king i should live in rich country paying taxes in Russia.
i think i'll try it some day

If you earn $500/month from you wedsite YOU WILL BE THE KING. You pay 10 dollars for food plus 30$ per rent and 100$ for other shit.btw insurance for a car cost $1 dollars so you dont worry about it.

Roberto · 10-21-2001, 08:15 PM

Quote:

Originally posted by Battuss:
12% OMG where do you live! Im gonna move there too and live like a king.

Move down here (argentina) and pay 0%

Absolut · 10-21-2001, 08:42 PM

2sasush

I live in Moscow and i guess it's one of the most expensive cities in the world to live.
Poor country with very expensive capital - seems like paradox but it's so.

The best part i have to pay much less to models than you do.

------------------
www.ferrocash.com
Great niche sites to promote!

Rip · 10-21-2001, 08:45 PM

I used to think I paid too much, in taxes, but if they will use the money to update the antiquated aircraft, and equipment the forces have, here, I'll pay extra

------------------
$$ DIRTY GOLD $$ Revenue Program
JackThumbsTGP - - - VideoKAT-ViDeOpOsT
- Post Gallieries - - - - - - - Trade Traffic -

kmanrox · 10-21-2001, 11:05 PM

are we supposed to pay taxes in the US? shit...

;-)

SNOW · 10-22-2001, 02:02 AM

I really like the New Russian President Putvin. He is really Pushing hard for complete democracy..I believe one day Russia will be a huge player in the financial world.. There very rich in resources..

NAZDOROVIA.....

Snow

Absolut · 10-22-2001, 02:24 AM

Quote:

Originally posted by SNOW:
I really like the New Russian President Putvin. He is really Pushing hard for complete democracy..I believe one day Russia will be a huge player in the financial world.. There very rich in resources..

NAZDOROVIA.....

Snow

Oh yes despite of his KGB past our president managed to understand that democracy is the best choice and he is really pushing it hard.
It's our first president we can be proud of.
And i also hope Russia will be fine.

Thank you for warm words, Snow

------------------
www.ferrocash.com
Great niche sites to promote!

Royaltee_Gee · 10-22-2001, 05:08 AM

Can we write off wire transfers we make to pay for programing. and pay for ucj and shit like that? or are credit card statements? is that enough? or we need invoices?

This is for canada. just to let yall know. but i think us and canada basically same

10-19-2001, 03:51 PM	#1
James94 Registered User Join Date: Oct 2001 Posts: 16	How much will i have to pay for taxes this year? Can anybody estimate how much you would have to pay say if you made $20,000 in a year how much am I going to have to pay? I thought I read somewhere that they tax you 12% of whatever your total income was I just need an estimate. If i make 20,000 this year and they tax 12% of that i'll have to pay $2,400

10-19-2001, 03:56 PM	#2
boneprone Hall Of Fame Industry Role: Join Date: Jan 2001 Location: Portland Oregon USA Posts: 34,415	its more than 12% bro! Are you in the US or Mexico?

10-19-2001, 03:58 PM	#3
Dirty F Too lazy to set a custom title Industry Role: Join Date: Jul 2001 Posts: 59,204	12% OMG where do you live! Im gonna move there too and live like a king.

10-19-2001, 04:00 PM	#4
Marcus Confirmed User Industry Role: Join Date: Jul 2001 Posts: 3,472	I'm no tax guru but I would figure 30%. state and federal dude.

10-19-2001, 04:01 PM	#5
boneprone Hall Of Fame Industry Role: Join Date: Jan 2001 Location: Portland Oregon USA Posts: 34,415	higher

10-19-2001, 04:02 PM	#7
boneprone Hall Of Fame Industry Role: Join Date: Jan 2001 Location: Portland Oregon USA Posts: 34,415	save your recipts to the porn shops and the jack shacks.

10-19-2001, 04:06 PM	#9
m0rph3us Confirmed User Join Date: Mar 2001 Location: Principality of Sealand Posts: 2,033	In Canada after you substract company related spendings you must pay 30%. In US i believe it is 38% (i might be wrong about US) =)

10-19-2001, 04:08 PM	#10
boneprone Hall Of Fame Industry Role: Join Date: Jan 2001 Location: Portland Oregon USA Posts: 34,415	I need to move to Canada soon. I hear BC is nice!

10-19-2001, 04:10 PM	#11
Marcus Confirmed User Industry Role: Join Date: Jul 2001 Posts: 3,472	when are we (in the US) supposed to pay anyways? and where do we go?

10-19-2001, 04:16 PM	#12
James94 Registered User Join Date: Oct 2001 Posts: 16	so it's around 35% to 40% of my total income after i subtract my spending.....is that 38% including state and fed? $20,000 35% = $7,000...... i'll have to make payments then!! lol

10-19-2001, 04:18 PM	#13
boneprone Hall Of Fame Industry Role: Join Date: Jan 2001 Location: Portland Oregon USA Posts: 34,415	U will get 1099's back from your sponsors and you pay on what they report.. That is you income.. Do you taxes like normal, and report that as your income. You get the 1099 from your sponsors arouns feb-march

10-19-2001, 05:15 PM	#15
sky9x Registered User Join Date: Sep 2001 Location: California Posts: 43	You're not going to have to pay 30% if you only made $20,000. I made I think $22,000 one year a few years back and I remember paying about $2,500 in taxes....roughly.

10-19-2001, 05:19 PM	#16
boneprone Hall Of Fame Industry Role: Join Date: Jan 2001 Location: Portland Oregon USA Posts: 34,415	sure you can pay quartely. It is prefered, but you dont have to. Its more of a saftey net so you dont have to pay one big check in April. They prefer quartley or even monthly, but if ya dont no big deal.. Its a small fine, but for people like me it is easier to keep the $$ and gamble with it insted and just pay them all in April

10-19-2001, 05:30 PM	#19
m0rph3us Confirmed User Join Date: Mar 2001 Location: Principality of Sealand Posts: 2,033	Does IBILL/CCBILL send tax forms? Whta if your sponsors don't send you forms or if you have your own paysite?

10-19-2001, 05:41 PM	#21
Phil21 Confirmed User Join Date: May 2001 Location: ICQ: 25285313 Posts: 993	Hahahaha, 12%?!?! Man! $20k/yr will easily hit 30% when you figure in fed/state/SS tax/medicare. Easily. This is before your deductions if you have any. Man, I did 1099 work before this whole adult thing, and about 45% (granted, I was making $2,000/week) was taken in taxes. I was 18 and couldn't really deduct a damn fucking thing (and was too stupid to even try). If you make a decent amount of cash a year ($45k+) expect at least 35% taken out, AFTER normal-like deductions (assuming you're not a home owner, and don't have dependents other than yourself). -Phil

10-19-2001, 05:47 PM	#22
boneprone Hall Of Fame Industry Role: Join Date: Jan 2001 Location: Portland Oregon USA Posts: 34,415	Phil22 is right.

10-19-2001, 05:55 PM	#23
[Labret] Registered User Industry Role: Join Date: May 2001 Location: Са́нкт-Петербу́рг Posts: 10,945	Dude. I hate these threads, all they fucking do is depress me.

10-19-2001, 09:01 PM	#25
^R3K^ Confirmed User Join Date: Sep 2001 Location: North Carolina Posts: 2,815	TAXS???? DAMMIT.. SHIT DAMMIT I KNEW THERE WAS A CATCH TO THIS PORN SHIT.. FUCK IT I WANT PAY AND WILL MOVE TO CANADA.. ill act like i have a flip-top head and live in bliss with the bears.. hooraa

10-19-2001, 09:15 PM	#26
boneprone Hall Of Fame Industry Role: Join Date: Jan 2001 Location: Portland Oregon USA Posts: 34,415	13% in Russia? Cool. But one thing about Russia.. If you lie at all about your taxes, they dont fine and compound intrest you like here in the US, they just come and fucking shoot you! Russian Government is not a Governement to try to trick! It could cost you your life if they know you are hiding good $$!

10-20-2001, 02:54 PM	#29
SockPuppet Registered User Join Date: Sep 2001 Location: Springfield Posts: 30	I always try to assume 1/3 of it all goes t Uncle Sam. comes out about right, that is unless your incorporated. Personally, I Keep every receipt that I can remember to get. Taxis, meals, coffee, trips, beer, any supplies or PC equip and software. That and a good accountant and your safe IMO.

10-20-2001, 03:07 PM	#31
GatorB The Demon & 12clicks Industry Role: Join Date: Oct 2001 Location: SallyRand is a FAGGOT Posts: 18,208	The first thing we have to know is if the $20K is the only income you have coming in. If it is we also have to know whether your single, married, have kids or not. If you were single then you'd be able to deduct about $7000 off your income for standard deduction and dependant deduction for yourself. Now if you have receipts for business expenses like hosting, content and such then you can deduct that too. Now you have to pay FICA TAX(social security and medicare taxes) too. Now unlike a job where you pay the basic 7.65% you also have to pay the employer part(also 7.65%) too, since your both the employer AND the employee. BUT you get to deduct the 7.65% that you pay as the employer(which would be $1530 of $20k) off your taxable income. So let me give you a basic scenario if your a single person with no kids and no other income and no business expenses to be deducted) $20,000 income minus $7,000(standard deduction)leaves $13,000 now minus $1,530(for employer part of FICA tax)leaves 11,470 TAXABLE income. Now under the new federal tax laws the first $6000(for single filer) of taxable income is taxed at 10% so that would be $600 and the remaining 5,470 would be taxed at 15%, which would be about $821 for a total of $1421 in FEDERAL INCOME TAXES, remember you also have to pay $3060 in FICA taxes so those 2 combined = $4481 or about 22% of every $ you make. Of course if you have kids and/or are married with no other income or you have business expenses you may pay no income tax at all, BUT you will pay the FICA tax even if you made $1 for the year. I don't know about state taxes because the only states I've lived in and worked are Florida and Tennessee and they don't have a state income tax.

10-20-2001, 04:22 PM	#33
Freeway Confirmed User Join Date: Aug 2001 Location: EU Posts: 441	Why do people pay taxes in the U.S.? It's not like you get health care or anything.

10-20-2001, 04:23 PM	#34
Theo HAL 9000 Industry Role: Join Date: May 2001 Posts: 34,515	absolut,how is the financial situation in Russia lately?

10-20-2001, 04:30 PM	#35
Jer God is Brazilian Join Date: Feb 2001 Location: Brazil Posts: 10,601	Max taxes in Brazil are 27,5%. If you make US$20,000 per year or US$1 million per year, you'll have to pay 27,5%

10-20-2001, 04:47 PM	#36
Jer God is Brazilian Join Date: Feb 2001 Location: Brazil Posts: 10,601	I forgot to say our tax system sucks big time.

10-20-2001, 04:56 PM	#37
ldinternet Confirmed User Join Date: Apr 2001 Posts: 8,245	Simple solution, take your business offshore

10-20-2001, 05:01 PM	#38
Jer God is Brazilian Join Date: Feb 2001 Location: Brazil Posts: 10,601	We can't deduct most of things you US people can, and have slow limits (in $, not real values, so sucks even more) to what we can. And a lot of others bad things. Did I say it sucks?

10-20-2001, 05:14 PM	#40
Absolut Confirmed User Join Date: May 2001 Location: Europe Posts: 109	oops double [This message has been edited by Absolut (edited 10-20-2001).]

10-20-2001, 06:35 PM	#41
Keev Confirmed User Join Date: May 2001 Posts: 5,335	Keep receipts of anything you buy that could be written off as a business expense computer, hosting, content, gas, food (business lunches) everyday, programming, scripts u name it new pc, hardware, software!

10-20-2001, 06:37 PM	#42
pimplink Confirmed User Join Date: Jun 2001 Location: Closer than you think Posts: 9,535	Try IRS.GOV I'm sure they have the basic rates there. Make sure you adjust your income though [business expenses, etc] ------------------ Custom Programming! Looking for desktop or server applications? Email me -- reasonable rates, TOP quality! [email protected]

10-21-2001, 08:42 PM	#45
Absolut Confirmed User Join Date: May 2001 Location: Europe Posts: 109	2sasush I live in Moscow and i guess it's one of the most expensive cities in the world to live. Poor country with very expensive capital - seems like paradox but it's so. The best part i have to pay much less to models than you do. ------------------ www.ferrocash.com Great niche sites to promote!