[Hoot Gibson]

When Romney gives specifics on his tax plan, and it doesn't cost the middle, I might just vote for him. But, I'm not holding my breath. Someone that packs a dinner bucket, voting for Romney, is like a chicken voting for Colonel Sanders. Believe it or not, I am sway able. When Romney shows that he won't raise taxes on the middle, I could be swayed. I have only voted for one democrat since I started voting in 1983.

I don't believe it and never will. Nobody who has repeated as many of Obama's lies as often as you have is going to be voting for Romney in November. I am glad that you will be voting in Kentucky where your Obama vote will not matter. Anybody who wastes their time trying to "sway" you simply has too much time on their hands. :hilarious:

[ronald reagan]

When Romney gives specifics on his tax plan, and it doesn't cost the middle, I might just vote for him. But, I'm not holding my breath. Someone that packs a dinner bucket, voting for Romney, is like a chicken voting for Colonel Sanders. Believe it or not, I am sway able. When Romney shows that he won't raise taxes on the middle, I could be swayed. I have only voted for one democrat since I started voting in 1983.

Well Hoot, I have the time. :blabbermo

If you vote for Obama, you have just voted for a massive tax increase on the middle class. The facts are already laid out there. Republicans are joined together and will NOT raise taxes on the middle class, the lower class, or the wealthy. They have made that clear. On jan 1st this year, all taxes will rise... yours by thousands, because Obama says he will not sign a tax bill that doesnt' raise taxes on the wealthy. I promise you... republicans will not budge on this. By reelecting him, you will pay more.

Romney on the other hand has made three promises. 1)No one will get a tax increase in the middle or lower class. 2)No tax reform plan will be implemented that isn't revenue neutral. 3)The wealthy will pay the same share of revenue they currently are. Mitt Romney is also a signee of the Norquist pledge not to raise taxes. I've heard alot of things that the DNC have tried to put on him, and this is the least believable one. I'm just curious as to your understanding of politics? Do you really believe its politically beneficial to raise taxes on the middle class? Thats the largest voting block out there..... as well as the most in-tune with the ups and downs of normal everyday life. Income is on the decline, and inflation on the rise. Thats a tax. Obamacare.. thats a tax. On January 1st this year, regardless of how tax reform goes... you get a huge social security tax increase.

You really think Obama is looking out for you?

No president will raise taxes on the middle class. Except one. And he's asking you to reelect him.

You're an investor. You've told me. CP tax and dividends.... Romney has proposed ZERO in tax up to $200,000 a year. Thats a huge tax cut for you. Bigger than any you've ever got, or probably will get. This plan is similar to the Reagan plan of 1981. It slashes rates across the board equally. A 20% cut.

Oh gosh... I'm wasting my time. hahahha.

How you can vote for this evil, lying, sack of cow dung, who has destroyed this country or is entirely unable to figure out how to restore it. You can pick either you want. Its Bush's fault and he can't fix it... or its Obama's fault and he can't fix it. Either way.... He can't fix it. Romney can. Romney will.

[ronald reagan]

sorry, edit.

[Wildcatk23]

Are you working anywhere now taxi?

[TheRealVille]

I don't believe it and never will. Nobody who has repeated as many of Obama's lies as often as you have is going to be voting for Romney in November. I am glad that you will be voting in Kentucky where your Obama vote will not matter. Anybody who wastes their time trying to "sway" you simply has too much time on their hands. :hilarious:

We shall see how much your Romney vote counts in VA.

[Hoot Gibson]

We shall see how much your Romney vote counts in VA.

My chances of voting for the winner in Virginia are much better than your chances of doing the same. Federal spending in this area is the only reason that Obama has a chance of winning Virginia. People around DC have no idea how much damage that Obama has done to the economy across most of the country.

[jetpilot]

Anyone who has to be "swayed" away from Obama needs to be swayed to come in out of the rain.hh:

[WideRight05]

I keep hearing all these tax arguments.. I've heard people like mark cuban say that he won't even notice a tax increase.. Now personally, I have been married for 6 years.. I have worked for 12.. In all that time the only time I've really noticed a change in my taxes is when I started electing to have my taxes based on me being married..

My question is, is it different for people who have to hire a cpa to keep their taxes in order.. Is it different for people who own their own business? Or what's the deal..

I'm middle class and the most money i've ever made was 102,000 for one year.. My wife and I both worked. and we paid in around 19000 in taxes that year..

Ok - now that the deadline is out of the way, I have a breather lol.

To answer your question, there are several different scenarios that could take place. Most people that hire a CPA have multiple sources of income. They could own a business, have investment income, they could own several apartment complexes. Usually the CPA will offer them financial advice and help them to keep everything in line so they will know exactly what to report on their taxes.

It varies for people who own their own business, although most people that do will hire a CPA to help them. How this person is taxed, honestly, depends a lot on the success of the business. I have seen people with huge business losses that get carried forward to the next years tax return and can result in a huge tax savings. A business owner that pulls in a lot of income from his business, will be taxed on it. A business owner can use business expenses on a tax return (most of them). Business expenses such as licenses and fees, repairs, etc. can be included. Some people have multiple properties and use a CPA to help them keep track of their information. The rental income they receive is taxed, and any expenses on the property (repairs, property tax, etc.) are included as well.

There are some people that are employees I have worked with that are employees and get W-2's (for those of you who do not know - that is a statement you get yearly...shows the amount you made from a particular job, amount you paid out in federal/state wages, etc.). I take it that you and your wife receive W-2's. Most of the people I have worked with in this situation will "itemize" their return. To explain this, everybody gets a standard deduction on their tax return. The deduction based on single, married, etc. You may also itemize your return based on the fact that your itemized deduction is larger than your standard deduction. Your itemized deduction may include charitable expenses you paid during the year, mortgage interest, as well as things like real estate/property taxes. Some people will get a high amount of itemized deductions, which will save them on their tax return.

As for tax rates - there are six brackets under the Bush tax cuts, the lowest being 10%. Should they expire, the lowest rate will be 15%, with people making $59,600 being taxed at a 28% rate. I think (and hope) something will be done to fix that. One of the lovely things people are going to deal with in Obamacare is the 3.8% surtax on medicare.

The CPA can be useful to people to organize their tax returns. While they are especially useful to people who run their own business and/or have multiple investments and properties. They are also helpful in determining how to handle tax returns, such as if a business owner should make advanced tax payments, etc.

Hope that covers it. Let me know if there are any questions or anything you would like me to expand on.

[jetpilot]

Ok - now that the deadline is out of the way, I have a breather lol.

To answer your question, there are several different scenarios that could take place. Most people that hire a CPA have multiple sources of income. They could own a business, have investment income, they could own several apartment complexes. Usually the CPA will offer them financial advice and help them to keep everything in line so they will know exactly what to report on their taxes.

It varies for people who own their own business, although most people that do will hire a CPA to help them. How this person is taxed, honestly, depends a lot on the success of the business. I have seen people with huge business losses that get carried forward to the next years tax return and can result in a huge tax savings. A business owner that pulls in a lot of income from his business, will be taxed on it. A business owner can use business expenses on a tax return (most of them). Business expenses such as licenses and fees, repairs, etc. can be included. Some people have multiple properties and use a CPA to help them keep track of their information. The rental income they receive is taxed, and any expenses on the property (repairs, property tax, etc.) are included as well.

There are some people that are employees I have worked with that are employees and get W-2's (for those of you who do not know - that is a statement you get yearly...shows the amount you made from a particular job, amount you paid out in federal/state wages, etc.). I take it that you and your wife receive W-2's. Most of the people I have worked with in this situation will "itemize" their return. To explain this, everybody gets a standard deduction on their tax return. The deduction based on single, married, etc. You may also itemize your return based on the fact that your itemized deduction is larger than your standard deduction. Your itemized deduction may include charitable expenses you paid during the year, mortgage interest, as well as things like real estate/property taxes. Some people will get a high amount of itemized deductions, which will save them on their tax return.

As for tax rates - there are six brackets under the Bush tax cuts, the lowest being 10%. Should they expire, the lowest rate will be 15%, with people making $59,600 being taxed at a 28% rate. I think (and hope) something will be done to fix that. One of the lovely things people are going to deal with in Obamacare is the 3.8% surtax on medicare.

The CPA can be useful to people to organize their tax returns. While they are especially useful to people who run their own business and/or have multiple investments and properties. They are also helpful in determining how to handle tax returns, such as if a business owner should make advanced tax payments, etc.

Hope that covers it. Let me know if there are any questions or anything you would like me to expand on.

You sound very knowledgeable and conscientious, but you have left out the main reason people hire a CPA - to minimize their taxes.

[WideRight05]

^ One would think, and while it is true to an extent, you would be surprised. There's a lot more to it than just minimizing taxes.

[jetpilot]

^Oh yeah I forgot about the 47% hehe. j/k WideRight, I see your point(s).