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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Tax question
Posted by:
Blutto
()
Date: July 04, 2007 03:48PM
I read where a guy took a pay cut from 100k a year to minimum wage. It was his way of protesting the war. The reason being he wouldnt make enough so he didnt qualify to pay anything in taxes thus depriving the government of funds to wage war.
Anyone know how much you would have to make a year not to pay any taxes? I guess you still have with holding but at the end of the year you would get it all back. I got a D in math so please make it simple. Single taxpayer, no dependants.
Thanks
Anyone know how much you would have to make a year not to pay any taxes? I guess you still have with holding but at the end of the year you would get it all back. I got a D in math so please make it simple. Single taxpayer, no dependants.
Thanks
Re: Tax question
Posted by:
inkahootz
()
Date: July 04, 2007 04:01PM
I think it is like $12,000 dollars a year, or whatever the poverty line threshold is. Don't quote me on this shit, though.
Re: Tax question
Posted by:
TAxation WITH representation
()
Date: July 04, 2007 08:01PM
Distribution of Income for Virginia Households and Families
One set of federal definitions of poverty shows that 9.5% of Virginia households have incomes below the relevant federal poverty guidelines. Can you determine the mean income of Virginia households at (for the sake of convenience) the 10th percentile of income among all VA households, or anything approximate to that?
According to a dataset1 that includes a sample of Virginia households, the household income2 in 1999 at the 9.5 percentile was $12,000. Accounting for inflation, this number would rise to approximately $14,067 in 2005.3 The family income4 in 1999 at the 9.5 percentile was $6,500. Inflated to 2005 dollars, this amount changes to approximately $7,620. The poverty threshold for 2005 was set at $10,160 for one person, $13,461 for two people, and $19,806 for a family of two adults and two children under the age of 18.5
One set of federal definitions of poverty shows that 9.5% of Virginia households have incomes below the relevant federal poverty guidelines. Can you determine the mean income of Virginia households at (for the sake of convenience) the 10th percentile of income among all VA households, or anything approximate to that?
According to a dataset1 that includes a sample of Virginia households, the household income2 in 1999 at the 9.5 percentile was $12,000. Accounting for inflation, this number would rise to approximately $14,067 in 2005.3 The family income4 in 1999 at the 9.5 percentile was $6,500. Inflated to 2005 dollars, this amount changes to approximately $7,620. The poverty threshold for 2005 was set at $10,160 for one person, $13,461 for two people, and $19,806 for a family of two adults and two children under the age of 18.5
Re: Tax question
Posted by:
Gravis
()
Date: July 05, 2007 03:53PM
Blutto Wrote:
-------------------------------------------------------
> I read where a guy took a pay cut from 100k a
> year to minimum wage. It was his way of protesting
> the war. The reason being he wouldnt make enough
> so he didnt qualify to pay anything in taxes thus
> depriving the government of funds to wage war.
well he certainly proved he's a dumbass.
"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."
-------------------------------------------------------
> I read where a guy took a pay cut from 100k a
> year to minimum wage. It was his way of protesting
> the war. The reason being he wouldnt make enough
> so he didnt qualify to pay anything in taxes thus
> depriving the government of funds to wage war.
well he certainly proved he's a dumbass.
"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."
Re: Tax question
Posted by:
Blutto
()
Date: July 05, 2007 05:14PM
He was from San Fran, so that told a lot. I was thinking more along the lines of using def comp and pre tax things to being me down to that level of not paying taxes. Like I said I am not a genius at math just trying to find a way to beat the man.