The Cellar - View Single Post

elSicomoro · 04-01-2001, 08:09 PM

Actually, I've done my taxes every year since I started working. Usually, I've been able to use the short form, and have done them myself. However, because of my split-state living situation in 1999 and 2000, I had to fill out long forms in both Maryland and Missouri for 1999. (You should look at the Maryland one...it's a piece of work.) I have a pretty good idea on the 1040...that's actually not the hard one. I have no intention of leaving PA this year, so next year's taxes should be a breeze.

And that is the problem right there--state taxes. Here, they are generally low (except for the city tax you pay if you live or work in Philly). Maryland's state taxes are actually rather high. And of course, it didn't help that I moved up 2 tax brackets in 1999 (going from part-time work in college to a full-time job). But each state has its own little quirks and nuances in filing status, standard deduction, etc.

Nobody is fooling me on this tax cut--I believe I figured my savings to be around $300 a year, which really isn't squat in the end. Put that $300 towards safer schools or a reduction in the deficit.

Regarding OASDHI, I just figured mine on my pay stub...and it comes out to 7.65%, which sounds just about right, as I believe the employer picks up the additional 7.xx%. (Unless you're self-employed, then it's the full amount.) So Tom, maybe you can shed some light on why this 7+% is wrong?

04-01-2001, 08:09 PM	#4
elSicomoro Person who doesn't update the user title Join Date: Jan 2001 Posts: 12,486	Re: Re: Income Taxes Actually, I've done my taxes every year since I started working. Usually, I've been able to use the short form, and have done them myself. However, because of my split-state living situation in 1999 and 2000, I had to fill out long forms in both Maryland and Missouri for 1999. (You should look at the Maryland one...it's a piece of work.) I have a pretty good idea on the 1040...that's actually not the hard one. I have no intention of leaving PA this year, so next year's taxes should be a breeze. And that is the problem right there--state taxes. Here, they are generally low (except for the city tax you pay if you live or work in Philly). Maryland's state taxes are actually rather high. And of course, it didn't help that I moved up 2 tax brackets in 1999 (going from part-time work in college to a full-time job). But each state has its own little quirks and nuances in filing status, standard deduction, etc. Nobody is fooling me on this tax cut--I believe I figured my savings to be around $300 a year, which really isn't squat in the end. Put that $300 towards safer schools or a reduction in the deficit. Regarding OASDHI, I just figured mine on my pay stub...and it comes out to 7.65%, which sounds just about right, as I believe the employer picks up the additional 7.xx%. (Unless you're self-employed, then it's the full amount.) So Tom, maybe you can shed some light on why this 7+% is wrong?