Page 1 of 4 1234 LastLast
Results 1 to 15 of 55

Thread: 2013 taxes

  1. #1
    Addict
    Points: 106,107, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 99.4%
    Achievements:
    50000 Experience Points1 year registered
    mtowncyclone13's Avatar
    Join Date
    Oct 2012
    Posts
    8,478
    Points
    106,107
    Level
    100
    Thumbs Up
    Received: 1,457
    Given: 1,038

    2013 taxes

    Just a vent.

    Got down with my taxes this morning and they give you a "compare to US average" to see where you stand with the rest of 'murica.

    My wife and I made more than the average household income but our dividends were about 1/4 the average. I save a lot with my brokerage firm so I am wondering how all these people with less income than we have are making so much?

    Anyone else find anything interesting about themselves by doing taxes this year?


    Quote Originally Posted by CycloneRulzzz View Post
    mtown is among the worst to ever play this game.

  2. #2
    Speechless
    Points: 191,125, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 16.0%
    Achievements:
    Veteran50000 Experience Points
    kingcy's Avatar
    Join Date
    Sep 2006
    Location
    Menlo, Iowa
    Posts
    18,178
    Points
    191,125
    Level
    100
    Thumbs Up
    Received: 361
    Given: 279

    Re: 2013 taxes

    Quote Originally Posted by mtowncyclone13 View Post
    Just a vent.

    Got down with my taxes this morning and they give you a "compare to US average" to see where you stand with the rest of 'murica.

    My wife and I made more than the average household income but our dividends were about 1/4 the average. I save a lot with my brokerage firm so I am wondering how all these people with less income than we have are making so much?

    Anyone else find anything interesting about themselves by doing taxes this year?
    People making less than you do probably don't invest much. It is the people making more than you that invest.


    The gap in our economy is between what we have and what we think we ought to have--and that is a moral problem, not an economic one. - Paul Heyne

  3. #3
    Legend
    Points: 307,044, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 38.0%
    Achievements:
    Veteran50000 Experience Points
    Doc's Avatar
    Join Date
    Aug 2006
    Posts
    13,947
    Points
    307,044
    Level
    100
    Thumbs Up
    Received: 1,330
    Given: 2,374

    Re: 2013 taxes

    It's an average, not a median. It's not like people with less income than you have more dividends -- it's just that some people who make more dividends relative to income are bumping the average up.


    Last edited by Doc; 02-17-2014 at 04:56 PM.

  4. #4
    Speechless
    Points: 654,184, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 66.0%
    Achievements:
    50000 Experience PointsVeteranOverdrive
    3TrueFans's Avatar
    Join Date
    Sep 2009
    Location
    Ames
    Posts
    25,774
    Points
    654,184
    Level
    100
    Thumbs Up
    Received: 3,298
    Given: 348

    Re: 2013 taxes

    I found out that I wish I had more money.



  5. #5
    Pro
    Points: 84,682, Level: 90
    Level completed: 52%, Points required for next Level: 868
    Overall activity: 16.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points
    Ciclone's Avatar
    Join Date
    May 2008
    Location
    Clive
    Posts
    3,256
    Points
    84,682
    Level
    90
    Thumbs Up
    Received: 381
    Given: 366

    Re: 2013 taxes

    Maybe you're just investing in more growth stocks with lower dividends.


    "I'm the one who knocks."

  6. #6
    Addict
    Points: 124,597, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 18.0%
    Achievements:
    SocialVeteran50000 Experience Points
    aeroclone's Avatar
    Join Date
    Oct 2006
    Posts
    6,345
    Points
    124,597
    Level
    100
    Thumbs Up
    Received: 434
    Given: 156

    Re: 2013 taxes

    Quote Originally Posted by Doc View Post
    It's an average, not a median. It's not like people with less income than you have more dividends -- it's just the rich people are bumping the average up.
    I do what I can.



    Also, is that a Mighty Ducks 2 avatar? Awesome.



  7. #7
    Addict
    Points: 61,960, Level: 77
    Level completed: 20%, Points required for next Level: 1,290
    Overall activity: 15.0%
    Achievements:
    Veteran50000 Experience Points
    CyCloned's Avatar
    Join Date
    Oct 2006
    Location
    Robins, Iowa
    Posts
    5,286
    Points
    61,960
    Level
    77
    Thumbs Up
    Received: 367
    Given: 165

    Re: 2013 taxes

    Some of it depends on the fact that some people are heavy investors in the stock market and do not have money in savings accounts or CD at all. The pitiful interest rates that investors are seeing, it looks like a good aggressive strategy. Many of these people tend to target investments that traditionally pay dividends. A lot of retired folks have pretty impressive portfolios.



  8. #8
    Bench Warmer
    Points: 5,577, Level: 22
    Level completed: 6%, Points required for next Level: 473
    Overall activity: 0%
    Achievements:
    Veteran5000 Experience Points

    Join Date
    Nov 2009
    Posts
    250
    Points
    5,577
    Level
    22
    Thumbs Up
    Received: 16
    Given: 2

    Re: 2013 taxes

    Hmmm... Who do you use for taxes? I did not get anything like that for my taxes. I was surprised on my taxes how low my effective tax rate was this year.



  9. #9
    Pro
    Points: 58,590, Level: 75
    Level completed: 3%, Points required for next Level: 1,460
    Overall activity: 30.0%
    Achievements:
    Veteran50000 Experience Points
    MeanDean's Avatar
    Join Date
    Jan 2009
    Location
    Clarence IA-Jensen Bch FL
    Posts
    3,378
    Points
    58,590
    Level
    75
    Thumbs Up
    Received: 650
    Given: 949

    Re: 2013 taxes

    Perhaps when the retirees are rolled into the equation (little or no income but relatively higher dividends) it probably skews the averages versus typical working families.


    No matter what, I could NEVER cheer for Dirt and Urine.

  10. #10
    Hall-Of-Famer
    Points: 50,966, Level: 69
    Level completed: 87%, Points required for next Level: 184
    Overall activity: 33.0%
    Achievements:
    Veteran50000 Experience Points

    Join Date
    Jul 2008
    Location
    Wichita, KS
    Posts
    4,269
    Points
    50,966
    Level
    69
    Thumbs Up
    Received: 336
    Given: 41

    Re: 2013 taxes

    It is interesting to see the comparison but I took it with a grain of salt since each situation is different. BTW I used Tax Act so I don't know if each software is different.



  11. #11
    Speechless
    Points: 419,821, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 8.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    62,879
    Points
    419,821
    Level
    100
    Thumbs Up
    Received: 1,152
    Given: 810

    Re: 2013 taxes

    Work harder. Save more. The American Way.


    Let my Fred's Posse Ride: Georges, 3sus Naz, Dustin, Bryce, Abdel, Monte, Matt, and Jameel.

  12. #12
    Addict
    Points: 106,107, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 99.4%
    Achievements:
    50000 Experience Points1 year registered
    mtowncyclone13's Avatar
    Join Date
    Oct 2012
    Posts
    8,478
    Points
    106,107
    Level
    100
    Thumbs Up
    Received: 1,457
    Given: 1,038

    Re: 2013 taxes

    Quote Originally Posted by agardini View Post
    I was surprised on my taxes how low my effective tax rate was this year.
    My effective tax rate was about 18%.

    Quote Originally Posted by wxman1 View Post
    BTW I used Tax Act so I don't know if each software is different.
    same here


    Quote Originally Posted by CycloneRulzzz View Post
    mtown is among the worst to ever play this game.

  13. #13
    Hall-Of-Famer
    Points: 37,020, Level: 59
    Level completed: 31%, Points required for next Level: 830
    Overall activity: 4.0%
    Achievements:
    Veteran25000 Experience Points

    Join Date
    Oct 2008
    Posts
    3,555
    Points
    37,020
    Level
    59
    Thumbs Up
    Received: 179
    Given: 80

    Re: 2013 taxes

    Can you write off financial advisor fees?



  14. #14
    Bench Warmer
    Points: 5,577, Level: 22
    Level completed: 6%, Points required for next Level: 473
    Overall activity: 0%
    Achievements:
    Veteran5000 Experience Points

    Join Date
    Nov 2009
    Posts
    250
    Points
    5,577
    Level
    22
    Thumbs Up
    Received: 16
    Given: 2

    Re: 2013 taxes

    Quote Originally Posted by mtowncyclone13 View Post
    My effective tax rate was about 18%.



    same here
    That might be why I didn't get that, I use H&R Block. I had medical deductions, full year of home mortgage deduction, new Cyclone club charitable giving which is probably why my effective tax rate was at 9%. Still surprised the hell out of me.



  15. #15
    Addict
    Points: 106,107, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 99.4%
    Achievements:
    50000 Experience Points1 year registered
    mtowncyclone13's Avatar
    Join Date
    Oct 2012
    Posts
    8,478
    Points
    106,107
    Level
    100
    Thumbs Up
    Received: 1,457
    Given: 1,038

    Re: 2013 taxes

    Yeah, our mortgage interest isn't that much on a 100k loan and we had no deductible medical bills. Did have a business loss of 3,500 but other than that no real deductions or credits. Not sure why mine was so "high" but that's okay. Some people go over their taxes with a fine-tooth comb several times but I figure whatever $10 or $20 it might create isn't worth the hassle.


    Quote Originally Posted by CycloneRulzzz View Post
    mtown is among the worst to ever play this game.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
  • TV: ESPN2
  • Iowa State @ Kansas State
  • February 28, 2015
  • 03:00 PM