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Your ways of spending your TAX RETURN for your Z


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my base income, no tax refund, fixed income, tax calculated and paid each week as PAYE (Pay As You Earn) which matches the tax rate to income... no deductions there. But the magazine articles I write sometimes, they are done by Withholding Tax, a whole different kettle of fish :D so I'm figuring probably $200 back once expenses are claimed for. Probably use $100 of that towards machine shop work, and the rest on other stuff.

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PAYE---much resistance to such a common-sense approach such as that here in the USA. That is a reason to Emigrate to NZ alone. That and the 40 million sheep... It would make my job much easier if I could do it that way. But that 'fixed income' thing is what gets me, like if you make more, a fixed rate shouldn't apply. Argh, it's tax time and I will have to write out another check for the cost of a car. There was a time I claimed 'exempt' and just gave it all to them at the end of the year. Fair is fair, and there were no surprises. And it made me aware at a young age how 'withholding' really snows people.

 

I'd probably say it like this: If I have money left over after paying my taxes, I will probably pour some more concrete to get them off the dirt and onto something that won't be 'breathing' moisture up under the bonnet each morning. I'm to the point in the back yard now where that might actually happen. With the price of metal buildings coming down, I'm going to level a pad, and then depending on the quotes I get (and what the Permit Costs are) I will make a decision on a Container or Metal Building (Roof at least) to get some shelter.

 

Now, if I had all the money my wife and I paid in Taxes to put towards this effort... the local depressed economy builders in the area would have at least one major cash project to build!

 

Oh, and the money is already set aside to paint the blue turd. The gaskets and rubbers came to the house already. I have a four day window in which to get the car stripped and over to the paint shop for work before I head to Korea and Japan for the better part of a month. Then I got maybe a week to put it all back together before I got to head to Brunei for three weeks on a commissioning job. By the end of that...it's MSA time. And then a job in either Canada or Texas. Whatta choice! LOL

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PAYE---much resistance to such a common-sense approach such as that here in the USA. That is a reason to Emigrate to NZ alone. That and the 40 million sheep... It would make my job much easier if I could do it that way. But that 'fixed income' thing is what gets me, like if you make more, a fixed rate shouldn't apply.

 

I've seen some of the US tax rates once, don't US taxes top out at something like 60% in the upper echelons of income by the time federal and state taxes add together in some states? Here NZ's top tax bracket is 33% :) I'd have to dig out last years tax returns to check by I think I'm in the around 24% bracket.

 

NZ has a graduated tax system for employees, with tax bands attracting different tax percentages, I think the band thresholds are around 9K, 25K, 40K and 60K a year (Not swearing to those numbers, but they'll do for the purposes). Say you have a blue collar welders job at the shop that grosses you $36K a year, sou you'd pay X% on the first $9K, Y% on the $16K between 9K and $25K, and Z% on the final $11K above the second tax band.

 

Much nicer than some countries where I gather it's if you earn 36K on a income threshold system, ALL the income is taxed at the percentage of the tax band the income lies in.

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Yes, this is what happens in the USA... :^(

 

I would gladly pay a flat tax and ditch all deductions and complex shennanigins. Hell, I'd pay it WEEKLY. I don't think graduation is a good thing, as you hit that next bracket in our system, and end up bringing home less than you did previously in some cases, even though technically you make more.

 

I'd like something simple, where lawyers aren't involved. Where you don't need an accountant to figure out your taxes. Argh, such is not to be in my lifetime. Witholding makes it easier to spend and then justify that retroactive increase... (Been there, done that!) Double ARGH!

 

We should return to on-topic, as I will begin ranting soon! LOL

 

How 'bout them 40 million Sheep, eh? I can emigrate, and have my pick of the lot, right? Make me a haaa-aaaa-aaaapy man! LOL Wine and dine em with my newfound tax relief wealth! he he he he...

 

"EMIGRATE NOW" You think I could make a deal to bunk in Burt Munroe's old place for inspiration. I already urinate on my citrus trees back home in CA, so I should fit right in...

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Yes, this is what happens in the USA... :^(

 

I would gladly pay a flat tax and ditch all deductions and complex shennanigins. Hell, I'd pay it WEEKLY. I don't think graduation is a good thing, as you hit that next bracket in our system, and end up bringing home less than you did previously in some cases, even though technically you make more.

 

I'd like something simple, where lawyers aren't involved. Where you don't need an accountant to figure out your taxes. Argh, such is not to be in my lifetime. Witholding makes it easier to spend and then justify that retroactive increase... (Been there, done that!) Double ARGH!

 

We should return to on-topic, as I will begin ranting soon! LOL

 

How 'bout them 40 million Sheep, eh? I can emigrate, and have my pick of the lot, right? Make me a haaa-aaaa-aaaapy man! LOL Wine and dine em with my newfound tax relief wealth! he he he he...

 

"EMIGRATE NOW" You think I could make a deal to bunk in Burt Munroe's old place for inspiration. I already urinate on my citrus trees back home in CA, so I should fit right in...

 

 

:lmao::lmao:

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