The differentiation between an RV and a (park model) mobile home has nothing to do with being self propelled here. It really comes down to whether HUD certifies it as a dwelling. I found all of this out when my SIL bought a "tiny home" before tiny homes were cool. He was a park ranger and they didn't have kids so his home was as portable as his job. It made it a lot easier to work his way up through the bureaucracy. If a better job opened, he could move at a moment's notice.
I paid no impact fee. My car was 13 months old when I moved here. Just Googled it and it has been rescinded some years ago.
OK, Good to know. Regular readers know, I don't buy a lot of cars. It was still here the last time I did.
Sure, but it is an australian micro house so what happens in the USA isnt relevant.
Well over half? Yikes, that's rough. My best guess is that the government gets less than 10% of what I earn, but I'm willing to round it up to 10%.
Good for you if you can. Consider sales tax. property tax, assorted utility taxes, gas tax, it adds up pretty good.
Either you earn a lot and have accountants to figuer it out, or are in something like a nursing home where you do not buy hardly anything.
Just the tax on food is a lot. The government has fees or taxes on just about everything. That includes things like driver license, car tags, gas tax, fees on the telephones, the list almost never ends. Some areas charge for toal roads.
I think they are talking about all taxes, not just the federal income tax. You do see state income tax (in most states), real estate tax, sales tax, various car taxes etc. That also includes a lot of taxes you don't really see because they are buried in the price, like excise taxes on gasoline, phones, cable, electricity, plane tickets, booze (and other sins). You could even include taxes the corporations pay and pass along to you silently if you wanted to be circumspect.
Yep, I understand the premise. The Federal tax burden is around 4-6%, and I figure everything else is 2-3%. Everyone's situation is going to be different.
Are you talking about hidden taxes on food?
Cindy Hamilton
Where are you getting those numbers ? The Federal tax is way more than
6 % for the working class , then you have the state and FICA , If you are working at any job more than part time, you are taxed at 12 % and if over $ 40,000 it is 22% for just the Federal tax. In the state I live in, the state and local sales tax for most every day items sold in stores are around 7 %.I have not kept up with the tax on many things for years, just paid the bottom line. I was thinking that food was not taxed many years ago and then a 'temporary' tax was put in and it never went away.
You could even
You bring up a good point. I hear people complaining that corporations don't pay enough taxes. Well, corporation never truly pay taxes, they add that cost into the product that we pay for in the end. Whoever is the end buyer pays all the taxes accumulated.
Raising corporate taxes just increases prices to the consumer but most are too dumb to realize that.
Thirteen states have a sales tax on groceries, though a few at a lower rate. Others just have a tax on candy and soda, some on prepared foods. Mississippi takes 7% on everything.
TurboTax. In the summary at the end, it tells you your effective tax rate. Over the past 20 years or so, mine usually bounces around between 0% to as much as 6%. 2019 was another 0% year for me at the Federal level, but that's not something that I count on. It's just nice when it happens.
When it comes to my personal finances and taxes, I take an active role and I've found that as my personal situation has improved over the years, my tax burden has fallen. It's not really fair, but that seems to be how the system is set up. It doesn't just happen automatically, though. You have to recognize opportunities and take advantage of them.
So you are saying that in a couple of years you paid no Federal income tax ? Hardly possiable for most if working a regular job.
The concenses of the Turbo Tax calculation is just smoke and mirrows to make it look good.
In other words they use the wrong lines on the form to really get the tax rate.
For example one person says TT calculated about 6 % where really it is about 17 %
I do use TT for my tax so do not think this is anything against them.
Who pays 4-6% Federal income tax? It is certainly not a family making more than $50-60k. You also have to include the payroll tax that is over 14% alone on your "first dollar" income. (yes you pay the employer side with your labor). Since most states have a sales tax of 6% or more, I am not sure where the 2-3% comes from either since the less you make, the higher percentage of your income goes to being spent on your day to day expenses. Even if you rent, you are still paying the real estate taxes on your home. It is just hidden in your rent and not deductible for you.
You really have to be wearing blinders if you don't see how much of your income goes to taxes. Just federal tax alone is over $11,000 a year for every man, woman and child in the country. That doesn't include all the money we put on the cuff for our kids to pay. (Over $70k each for everyone here, in 2019, before this last round of irrational borrowing).
Some states even tax food directly and most do if it is "ready to eat". You can buy ham in the meat case without tax in Fla but sliced at the deli is taxable.
I always do a bottom line calculation of my income taxes (total income vs tax paid) After all of the gyrations on the 1040, when I was doing around $100-110k, no kids, no mortgage, standard deduction was 11-12% plus FICA on wages. These days when it is just pensions, IRA distributions and SS, (~$76k) it is still 11-12% but no FICA.
40 years ago that was usually more like 18-20%
The people who take the worst beating are high income people who get paid on a W-2. They usually don't have much they can do beyond writing off the interest on their mortgage and the last tax reform chipped away at that.
Yes, for the 2019 tax year my Federal refund was 100% of what had been withheld during the year.
When you get it all back, the calculation is easy.
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