I have finished doing our income taxes for year 2005. I have not sent the return in yet because I fear that there is a major error. I need to do some re-checking. According to my numbers, we are getting a tax refund that is greater than the amount that was withheld for the year. This is even with my poker winnings included. How is this possible?
This tentative tax return tells me three things: 1) We do not make a lot of money as a household(we are definitely not poor in spirit). 2) We really benefit from the use of itemized deductions; especially tax-deferred retirement savings, mortgage interest, and charitable contributions. 3) The tax code is all screwed up. If we are not paying any federal income taxes, then who is paying? Only those who are the so-called super rich? What are the liberals talking about when they say that these wealthy individuals do not pay their fair share of the tax burden. It seems to me that they are paying much more than their fair share. We would like to thank those who paid our share of the income taxes.
Monday, January 30, 2006
Taxes
Posted by
Donn
at
7:48 PM
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