Public goods schmublic goods. I didn't consume $500 worth of public goods from the federal government this year. But that's apparently what I owe them for this service. Or so says TurboTax.
Michael's Uncle Timmy says that Michael shouldn't owe anything. Michael says this logically means that I shouldn't pay taxes either. But here are a few reasons I might owe taxes and Michael might not:
- Michael lives on his own. He is not a dependent.
- Michael's savings are hidden away so that he can get more financial aid.
- Michael doesn't have income reported on a form 1099-MISC, which is classified as business income. Apparently, that jacks its tax rate up to something like 25%, regardless of my tax bracket. (Great incentive to form small businesses there, Congress.)
Anyway, I'm annoyed, ticked, peeved, irritated, and angry. MY PARENTS pay a smaller percentage of their income in taxes than I owe.
And then there's the absolute idiocy of taxing me on a transfer payment FROM THE GOVERNMENT. That's just inefficient.
Jakob, don't you DARE listen to TurboTax! Wasn't that created by the government????
ReplyDeleteAnd please talk to my Uncle Timmy! There is no WAY you should have to pay taxes--that's a joke. Nobody's going to know anyway.
TurboTax is a product of Intuit, Inc., the same company that makes Quicken. So no. It's made to help people get their taxes done cheaply and easily.
ReplyDeleteI don't find it surprising that I owe taxes. I'm just annoyed at the fact.
And the 1099-MISC must be filed to the IRS. So they will know.
I think I'll have my dad ask his CPA cousin. So there.