Taxes Help Me Decide
Now that my taxes are done for last year I’ve realized I have to start enjoying the outdoors a lot more and working a lot less. Punished for being responsible and not burying myself in debt…this has gotten ridiculous. I’m no rich guy. But, it’s clear they’ve tuned the tax code to keep people like me from getting too upity.
And my tax rate has dropped to nearly nothing.
In other words, I'm retired, and no longer own an alarm clock.
https://www.irs.gov/individuals/inter...
"If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, you may qualify to exclude your foreign earnings from income up to an amount that is adjusted annually for inflation ($107,600 for 2020, $108,700 for 2021, $112,000 for 2022, and $120,000 for 2023). In addition, you can exclude or deduct certain foreign housing amounts.
Foreign-earned income: Foreign-earned income means wages, salaries, professional fees, or other amounts paid to you for personal services rendered by you."
But there are still 7 states without state income taxes: AK, NV, WY, SD, TX, TN, FL. And NH doesn't tax wages but does tax interest and dividends.
makes most folks angry. The thing is none of it is new , been going on for decades It’s just newly revealed and called “The Qreat Awakening” and until a problem is exposed it can’t be fixed. Peace to you.
They are in a rough position. Not knowing enough to be valuable, and such a bleak/unknown future..
I am not sure I would have went into Computer Science if I was in high school now.
Anyways, Dr. Chris Martenson (Peak Prosperity) has a book on the various Forms of Wealth. it's worth reading.
At this point, you've crossed the line from needing income to get what you want, to getting other ASSETS
that have value for you without being taxed to death.
Just require your boss pay you 1/4 your salary, using the face value of pre 1964 silver coins :-)
And, yes, I would figure out my next businesses based on assets I wanted to acquire.
We are lucky to be where we are. Yes, it was lots of hard work, and a minimum number of stupid decisions...
Legislative Process - Lawmakers have a 60-day session to draft the law, which has already gained support from Governor Ferguson. The tax is part of a broader strategy to address income inequality and stabilize state revenue.
Implementation Timeline - The tax is set to take effect on January 1, 2028, with the first returns and payments due in 2029
. This initiative marks a significant shift in Washington's tax policy, as the state has historically avoided broad-based income taxes.
We, The People, have told them, "No" many times in the past. This legislation is the first step into implementing a State Income Tax for everyone. It's really unfortunate that many voters in this state just don't get it.
Unleashing our energy , tariffs to level the playing field , cut Govt embezelment. End needless regulation, bring back manufacturing. 50+ years of killing our economy by 1,000,000,000.cuts is over.
Flat rate, and NO deductions would be minimally fair, and end this.
Now that I'm retired, I've put my withholding under control, to ensure a minimal return, which leaves me with more to spend throughout the year. My only tax bill is my state income tax, and that's manageable.
I've rarely ever fretted over taxes. Maybe it's because I'm NOT wealthy.
Now getting past a certain date in April does make me feel poorer yet like a happier dog freed of its leash.
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