FRACK the taxes!!! Endless papers, searching, hunting for papers filed away a year ago, brain hurting trying to recall stuff.......(//vny!://discoverseattle.net/forums/richedit/smileys/Angry/5.gif)
Meh. If anyone wants me, I'll be the Cayman Islands where I hear you don't pay taxes.
totally agreed. I'm still posting my shoe box full of 2006 receipts.
I think I have the only job in the world where I don't pay taxes. Been working for 3 years and I have yet to see a tax form come through the mail. Am I missing out?
Lise wrote:
FRACK the taxes!!! Endless papers, searching, hunting for papers filed away a year ago, brain hurting trying to recall stuff.......(//vny!://discoverseattle.net/forums/richedit/smileys/Angry/5.gif)
Meh. If anyone wants me, I'll be the Cayman Islands where I hear you don't pay taxes.
Its 5k USD to open up an account in the caymans and you have to do it in person. You get a credit card and debit card for the account. If you use the CC the government can track that you have a card and a foreign account, they will ask you about this. The debit card if you pull out or use only 500 CDN per day, will not be noted by the banks or government cause with all the transactions daily, they had to put a limit before they start taking notice.
Russ's post went completely over my head. I worry that I won't know what to do when tax stuff and bills stuff start coming at me.
um, I dont know how it is in the states, but in canada you have to file every year, its illegal not to.
You have to declare all forms of income. If you dont get a slip from your company showing what you made and if you paid taxes.. (T4 for us), you have to declare how much you made (sometimes proved with bank statements) and then pay taxes on what you made. And they usually want their money NOW. You can pay under a payment plan though.
If you dont file or lie, they can nail you for evasion and monetarily penalize you with possible jailtime.
What gets me is that you don t only get taxed on everything you earn, what you have left on your earnings gets taxed again everytime you buy something.
Apparently I don't get tax file every year. For some reason I get off. I remember my dad saying something about taxes last year for me but it wasn't taxes more of that the government thought there was two of me. They wanted a clarification. (I go by my nick name or second name my birth name is only used on my drivers). But in three years of me being an 'independent contractor' I have yet been given a tax form to fill out.
Oooo...Russ knows his stuff when it comes to offshore accounts. Good to know. Thanks for the info.
Oh gawd, I don't want to think about taxes. It's a mess for me. :P
I don't know how it works for you SD, but you start filing your taxes when you first get a job. And, when you turn 19 (or was it 18), you're eligible for GST rebates. I started filing my taxes then. I didn't make enough when I was 16-18 to do any taxes. Plus, my parents had me on their taxes as dependents.
Thats what it is apparently I don't make enough. I never have completely worked full time with this job for I had school work to complete. I think if I make under a 1k a month the IRS doesn't bother. Which is funny because at one point I was making 600 every 2 weeks thats 1,400k a month and they still didn't come calling. odd
yeah I know the math is off I used to do sundays as well hence the 1.4k.
You start when you're off of your parent's taxes. You should check with your tax centre to be on the safe side. You really don't want to be hunted down by those nasty suit people.
I vaguely remember my dad saying I had a little taxes to do last year when they wanted to know which SD was me. But then again I tell and plead to my parents to do my own taxes and financial records and they won't let me. Then they get angry at me for not keeping track of things. Well I've got to learn sometime? They never have given me anything. Heck I don't even cash in my cheques. Then they wonder why I'm clueless. Then again they wouldn't let me cut the grass outside either.
Sportsdude wrote: "Heck I don't even cash in my cheques."
Time to look after your finances, SD, including your taxes. You're a big boy now and your parents just have to let you do things on your own.
Could you tell them that? They seemed to have not gotten the message. They think I'll lose the forms or something.
Last week we had this big blow up because I didn't know how to put money into my banking account. They're like you should know by now. I go well how am I suppose to know what to do when nobody has ever shown me? ugh.
Sportsdude wrote:
Could you tell them that? They seemed to have not gotten the message. They think I'll lose the forms or something.
You need to prove to them that you're more independant. They think that you still need to be babied.
Last week we had this big blow up because I didn't know how to put money into my banking account. They're like you should know by now. [FONT style="BACKGROUND-COLOR: #ffff40"]I go well how am I suppose to know what to do when nobody has ever shown me?[/FONT] ugh.
It was kind of your own fault for not taking initiative of asking the Teller how to deposit, withdraw and make that sort of transactions. It sounds like you rely on your parents still and haven't proved to them that you can do things on your own.
How am I suppose to deposit money when I'm not even given the pay stubs? I don't see anything at all. The thing is I want the responsibilty but they don't trust me for some reason. Yet they 'trusted' me when I was 16 to drive to a school 60 miles round trip on busy inter-state highways alone every morning, yet when it comes to money stuff, "nope your not responsible" lol please.
Sportsdude wrote:
I think I have the only job in the world where I don't pay taxes. Been working for 3 years and I have yet to see a tax form come through the mail. Am I missing out?
don't your employer withhold part of your money and send you a W-2 form to file your tax returns? If you have tax withheld and don't earn enough you get all the withholdings back and more thru "earn income credit"
Frack is not even a word?!
ok maybe it is? like out of the Archie comics..the word "Gak"?
W-2 form thats what it is. I get those but then again I don't see them. I've tried talking to my parents, brought this up with them and my counselor and they still don't want me doing my own financial stuff. It just blows my mind. Yup its okay to fly across country to place you've never been by yourself for a week or its okay to drive across country through mountains and what not alone but nope on the financial stuff. So I've basically given up trying to talk to them I'll just learn this stuff when I move out I guess. Since they don't 'trust' me when history says otherwise.
your parents probably claim you as their dependant....thats why they think it wasn't necessay
yeah probably they do now that I think about it. Still boggles my mind though on the things they say. Then they look shocked that I actually did those things like fly across country talk to a school, roomed, and so on. I swear they think I'm still 8 or something.
At least its not too bad my friend who is 23 never comes home because when he does come home from school he's still treated like a baby, he's got a 9:30pm curfew and his parents follow him while he drives up to his school in Minnesota. now thats nuts.
Geez. Thank you Russ for spoiling my daydream about holding an account in the Cayman Island. Meh.
well there's always those little tax haven places in Europe.
Lise wrote:
Geez. Thank you Russ for spoiling my daydream about holding an account in the Cayman Island. Meh.[/DIV]
LOL, why? Just dont use a credit card from that account, use one from a local bank. And dont withdraw more than 500 within a 24 hour period using an ATM or they will track it. 500 or under and they dont record who its from when its international.
I wouldn't want to move to the Caymens anyway its going to go under water in a few years and plus you've got hurricanes, they like to take that path on their way into the gulf. Its like a Hurricane Highway.