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Reply #83: If you are in the 10% bracket, that means you made $15,650 or less [View All]

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mbperrin Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-11-10 11:59 AM
Response to Reply #21
83. If you are in the 10% bracket, that means you made $15,650 or less
last year. If you have no tax advice and never read the instructions that come with your taxes, you pay $1565 a year AT THE MOST. If you are a head of household; if you have dependents of any sort, you owed no tax.

You say you have kids in the multiple in your post. If you are a head of household and have two kids, you will not only not pay, you will receive an earned income credit of $5036. It is absurd that you are paying any taxes and are not receiving a check for more than $5000 at the end of the year.

But let's say you just paid the entire $1565, and this year, by again avoiding all tax advice and any publications put out by the IRS, you will owe another $783 this year, or right at $65 per month. If $2 a day is all that's standing between you and homelessness, you are already. The first battery you need, the first doctor visit you require is going to be much much more than that.

So fire your current tax preparer and get the actual instructions for free from the IRS and receive thousands of dollars you never paid in back.

Now please don't change the facts of your post after the fact. The 10% bracket ends at $15,650; you said you have more than one child. The credit I figured pulls you as a head of household. You would get more by filing jointly married.

So now that your problem is solved, is sit okay if Mr. Sanders et al try to save Social Security, try to get some actual revenue into the coffers and restore just a bit of the idea that those who benefit most should pay most?

I could only hope to have representation like this in my beloved Texas. Go get 'em, Senator!
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