Voluntary Tax

Posts Tagged ‘social security’

self employed tax calculator

And my second job I am self employed. I usually come pretty close to 40 or more hours a week on my second job. What I am not sure about is I want to hold back enough Federal & State taxes so that I don’t end up paying at the end of the year, but I don’t want a large refund either. I am one who likes to have their money weekly. None of that refund stuff for me. I want my money now. My employer deducts Fed, state, local, medicare & social security so will I have to do that with my SE taxes as well or will I be pretty much covered? And I find many calculators but none where I can use both employer taxes and SE taxes? Any suggestions? Anyone know of any loopholes I can look into. I have 3 children and I take care of a disabled aunt as well.
Okay, to clarify this alittle more. I am both self employed and I work for a large firm. I know that when you work for someone else, your employer matches a portion of your tax deductions. When you are self employed you have to pay those yourself. I would like to be able to fix it so that my employer is paying my taxes and on my self employed job, I don’t have to pay as much taxes without oweing a lot at the end of the year. Is that alittle clearer?

voluntary taxes taken out of my check

Your Social Security

Just in case some of you young whippersnappers (& some older ones) didn’t know this. It’s easy to check out, if you don’t believe it.

Be sure and show it to your kids. They need a little history lesson on what’s what and it doesn’t matter whether you are Democrat or Republican. Facts are Facts!!!

Our Social Security

Franklin Roosevelt, a Democrat, introduced the Social
Security (FICA) Program. He promised:

1.) That participation in the Program would be
Completely voluntary,

No longer Voluntary

2.) That the participants would only have to pay
1% of the first ,400 of their annual
Incomes into the Program,

Now 7.65%

3.) That the money the participants elected to put
into the Program would be deductible from
their income for tax purposes each year,

No longer tax deductible

4.) That the money the participants put into the
independent ‘Trust Fund’ rather than into the
general operating fund, and therefore, would
only be used to fund the Social Security
Retirement Program, and no other
Government program, and,

Under Johnson the money was moved to

The General Fund and Spent

5.) That the annuity payments to the retirees
would never be taxed as income.

Under Clinton & Gore

Up to 85% of your Social Security can be Taxed

Since many of us have paid into FICA for years and are
now receiving a Social Security check every month —
and then finding that we are getting taxed on 85% of
the money we paid to the Federal government to ‘put
away’ — you may be interested in the following:

Q: Which Political Party took Social Security from the
independent ‘Trust Fund’ and put it into the
general fund so that Congress could spend it?

A: It was Lyndon Johnson and the democratically
controlled House and Senate.

Q: Which Political Party eliminated the income tax
deduction for Social Security (FICA) withholding?

A: The Democratic Party.

Q: Which Political Party started taxing Social
Security annuities?

A: The Democratic Party, wit h Al Gore casting the
‘tie-breaking’ deciding vote as President of the
Senate, while he was Vice President of the US

Q: Which Political Party decided to start
giving
annuity payments to immigrants?

AND MY FAVORITE:

A: That’s right!

Jimmy Carter and the Democratic Party.
immigrants moved into this country, and at age 65,
began to receive Social Security payments! The
Democratic Party gave these payments to them,
even though they never paid a dime into it!

Then, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!

And the worst part about it is uninformed citizens believe it!

If enough people receive this, maybe a seed of
awareness will be planted and maybe changes will
evolve. Maybe not, some Democrats are awfully
sure of what isn’t so.

But it’s worth a try. How many people can YOU send this to?

Actions speak louder than bumper stickers.

AND CONGRESS GIVES THEMSELVES 100% RETIREMENT FOR ONLY SERVING ONE TERM!!!

A government big enough to give you everything you want, is strong enough to take everything you have.
-Thomas Jefferson

payroll tax rates

Need answers from accountants or payroll professionals please.

I don’t need to know any tax rates.

I should have the following deductions:
Social Security
Medicare
Federal Tax
Federal Unemployment
State Unemployment (SUI)
Is this correct?????

How often do I send a liability check to the State and Federal??? Monthly for each???

What tax forms do I have to fill out and when??

Thanks, any help is appreciated.

Voluntary US Tax System

My son (16 years old) wants to enter the work force and does NOT want to have anything to do with the Social Security System. He is very socially astute and feels that SS contributions are a poor investment and he would see little or no return as the system gradually goes bankrupt over the next 50 years. Back when I was a young and naive new father, he was automatically issued an SSN when he was born along with a bunch of other hospital papers. He knows that Social Security is a voluntary program and he was illegally entered into the program since he was underage and could not give his authorization to be a member. How does he rescind his SSN and how can he be employed without an SSN? He has no issue paying State and Federal income taxes. Can he be employed with a TIN?

voluntary tax

What if you got a checklist in the mail from Washington D.C. listing everything the federal government spends money on and you had to put checkmarks beside the things you wanted to pay for. What would you pay for and what would you stiff:
Military – (how much?)
FBI – (how much?)
Dept of Homeland Security – (how much?)
Fannie Mae & Freddie Mac – (how much?)
Social Security – (how much?)
Welfare – (how much?)
Dept of Education – (how much?)

Name the agency and – (how much?)

voluntary taxes taken out of my check

Dear Friends:

Many years ago in Seattle, two wonderful neighbors, Elliott and Patty Roosevelt came to my home to swim on a regular basis. They were a great couple full of laughter and stories that today I continue to marvel at. Both are now deceased, but their stories remain. During the years of our friendship we had many, many discussions about his parents (President Franklin D. and Eleanor Roosevelt) and how his father and mother never intended for the Social Security and Welfare programs to turn out the way they are today. Elliott used to say that if his mother returned to earth and saw what the politicians had done to their programs she would have burned all of them in hell.

Here is a story I received today regarding the Social Security Program and I immediately thought of Elliott’ comments. Hope you will read this and think about it.

Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:

1.) That participation in the Program would be completely voluntary

2.) That the participants would only have to pay 1% of the first ,400 of their annual income into the Program,

3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,

4.) That the money the participants put into the independent "Trust Fund" rather than into the General operating fund, would only be used to fund the Social Security Retirement Program, and no other Government program,

5.) That the annuity payments to the retirees would never be taxed as income.

Since many of us have paid into FICA for years and are now receiving a Social Security check every month — and then finding that we are getting taxed on 85% of the money we paid to the Federal government to "put away," you may be interested in the following:

——————–

Q: Which Political Party took Social Security from the independent "Trust" fund and put it into the General fund so that Congress could spend it?
A: It was Lyndon Johnson and the democratically controlled House and Senate.

——————–

Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democratic Party.
——————–
Q: Which Political Party started taxing Social Security annuities?
A: The Democratic Party, with Al Gore casting the "tie-breaking" deciding vote as President of the Senate, while he was Vice President of the U.S.

——————-
AND MY FAVORITE…
Q: Which Political Party decided to start giving annuity payments to immigrants?

A: That’s right! Jimmy Carter and the Democratic Party. Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!

——————-

Then, after doing all this lying and thieving and violation of the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away ! ! ! ! ? ? ?

And the worst part about it is, uninformed citizens believe it !
I do wish I could take credit for this but the source is my parents email to me. I myself am only poor white trailer trash witch gives me a unique veiw on this society. From the bottom up. I thank amg503 for his input. for him I have this to say. I know I’m right just not correct. I just needed to know if this is true and for any offence I do appologize.as far as balanced I will ask the same to all other parties unless someone else with more experience wishes to.

voluntary taxes taken out of my check

http://www.rasmussenreports.com/public_content/politics/mood_of_america/mood_of_america_archive/social_security/49_say_workers_should_be_able_to_opt_out_of_social_security

A recent poll showed that 49% of Americans believe that Social Security should be made voluntary. 37% favor forcing people to participate. The rest are undecided.

Long before the Bush administration’s idiotic scheme to "privatize" Social Security, Barry Goldwater was attacked by LBJ because he wanted to make Social Security voluntary.

If I wish to opt-out of Social Security and neither pay Social Security tax nor receive Social Security welfare checks when I’m over 65, why shouldn’t I be able to make that choice? Why should I be forced to pay into this ponzi scheme (the current Social Security system) or into a government-run mutual fund (the Bush plan that failed miserably) from which I am unlikely to ever obtain any benefit?

Rather than forcing people to purchase health insurance (as Obama and the liberals in Congress are now proposing; I wonder how much money he took from the Insurance companies to put that into his health care "reform" plan) or forcing people to participate in the Social Security and Medicare ponzi schemes, how about we allow personal choice instead?

How can anybody be so anti-democratic as to oppose my right to make my own choices rather than being forced into a 1-size-fits-all government program?

payroll tax rates

If you make a commission on top of normal pay does it get taxed double the amount of your normal pay? We recently got a commission check and it was taxed twice but that makes no since to me since payroll taxes is only 7.65% (only medicare and social security).

payroll tax rates

According to a summary of the payroll of Scofield Industries Co., 0,000 was subject to the 6.0% social security tax and 0,000 was subject to the 1.5% Medicare tax. Also, ,000 was subject to state and federal unemployment taxes.

a. Calculate the employer’s payroll taxes, using the following rates: state unemployment, 4.2% ; federal unemployment, 0.8%

b. journalize the entry to record the accrual of payroll taxes.
those did not help at all. Can someone please help me answer this?

self employed tax calculator

We paid taxes because of my self employment but we ended up getting like 3900.00 back or 2900.00 back so basically I paid taxes because of my medicare and into social security on paper but never had taxes taken out of my income and actually got a refund my husbands income was tax free because it was disability and under a certain amount. Will I get 300.00 per person for the stimulus package or will we get 600.00 per adult? I think we grossed over 25K but didnt pay taxes like I said because we got the EIC because hubbys income wasnt earned just mine was.? I dont want you to give me the link to check how much we would get because I cant use the refund calculator because I dont know the exact amounts. My real question is if you made 25K but didnt pay any actual taxes out of your money because of EIC do you get the full 600 or the 300?

Thanks!