Ironically(and you'll appreciate this) I'm considering buying in PaOriginally Posted by Saticon3
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Ironically(and you'll appreciate this) I'm considering buying in Pa
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Income, deductions, expenses, just like everyone else- you ever heard of EIC or refundable credits?
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Weren't taxes deducted from that income?
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Bmore Ken I do appreciate and welcome the fact that you are buying land in Pennsylvania. So even you agree you rather live someplace where taxes are lower, housing is cheaper, and where you don't have to deal with PlanMaryland which makes a suburban or rural home more afforable than here! Hopefully you don't take your liberal voting patterns there. I doubt the Dream Act or gay marriage will ever pass in Pennsylvania. I doubt the good folks of small town PA would like the thought of hordes of illegal aliens going to their colleges. Of course there are the ghetto types and liberal elites in Philly and Pittsburgh but they don't control the state to the extent that Montgomery County and Baltimore City control Maryland. Pennsylvania's gasoline taxes and tolls are also too high though.
Maryland can get some great lessons from Virginia, North Carolina, South Carolina, Louisiana, Tennessee and Georgia on how to run things. One great thing about Georgia si that Atlanta is expected to pay for their own transportation needs including mass transit through their local taxes (same with Northern Virginia btw) and not expect the rural areas to subsidize the cities through gas taxes! There should be a lower gasoline tax on the Eastern Shore and in Western Maryland and possibly Carroll and Harford Counties.
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hold your cards......this is not Bingo! There are plenty of individuals who file tax returns with no taxable income in order to establish qualification for various programs or to secure refund of taxes withheld. Clearly, if the Maryland Legislature intended for the families of illegals to have paid taxes, the bill would have required "payment of taxes" versus filing of a return.
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I'm actually quite happy in Maryland, the lower housing prices is the draw. And you don't know the first thing about my voting patterns except for your one issue
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Bingo again
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If the've ever bought anything in the state of Maryland, then they've paid taxes to the state.
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If they've had taxes withheld they've paid taxes to the state as well. Regardless of whether they get a refund or not at the end of the year, the taxes were still paid to the state
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Yup. One can receive the EIC or refundable credits only by filing a return.
And a short-term loan to the gov't of income taxes withheld is not "paying taxes".
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Umm yeah it is especially in relation to the law being discussed
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No, its not, if you have taxes deducted, then get them all back plus a credit and end up with your withheld "taxes" back plus refundable credits such as EIC, Child Credit ( + "extra child credit" then you have not paid income taxes.
For that matter, you don't even have to have any taxes withheld if you file the form with your employer that says you estimate that you will have no tax liability-- which after the fist year ( or even before if you're really up on it) unless your situation changes. You still have to file the return to get the EIC and other refundable credits. Which, is not really a refund at all.
Your premise seemed to me to be that if you file a tax return, then you have paid income taxes, that is not true.
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Really? How come? ( if you care to share that with us-- or PM me if you don't want to make it general, I'm curious.)
If you do, then you can report back to us if its the Haven some people say it is on this board.
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but, that's not the criteria for verification that the law sets. And, having taxes withheld id different from actually paying taxes.
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No mystery to it. A coworker had been talking to me about taking a look in Pa for a few years now and I finally decided to take a peek at the housing prices recently. Big difference from Maryland prices and there's nothing really holding me here(I have coworkers who do the commute every day). I've seen properties there with land at the price of some townhouses here. So I'm not looking there because it's a Haven or I don't like Maryland. Simply better housing prices. So I'll probably land in York, Dover, or Dallastown
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No it's not. If you get a refund it's because the state withheld too much or the EIC credit gives you a net positive. Either way it's the standard for the law, not the standard some of you are tryign to make it. If I get a refund because of my mortgage deduction, are you saying I didn't pay taxes?
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Yes, if your refund offset 100% of what was withheld, then you did not pay income taxes. You could adjust your withholding anytime so there would be no need for a refund.
The state or feds only withhold what you ask them to withhold with your w-4. If you think they withheld "too much", it is because you instructed them to do so.
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Sorry to burst the bubble of all the tax experts hereon, but these taxpayers/filers (Dream Act parents) would NOT qualify for the EIC !
To claim EITC on your tax return, you must meet all the following rules:
- You, your spouse (if you file a joint return), and all other listed on Schedule EIC, must have a valid Social Security Number.
- You must have earned income from working for someone else or running or operating a farm or business;
- Your filing status cannot be married filing separately.
- You must be a U.S. citizen or resident alien all year, or a nonresident alien married to a U.S. citizen or resident alien and filing a joint return.
- You cannot be a qualifying child of another person.
- You cannot file Form 2555 or Form 2555 EZ. (Related to foreign earn income)
- You must meet these EITC Income Limits, Maximum Credit Amounts and Tax Law Updates
- And you must meet one of the following:
- Have a qualifying child (see who is a qualifying child below), or
- If you do not have a qualifying child, you must:
- be age 25 but under 65 at the end of the year,
- live in the United States for more than half the year, and
- not qualify as a dependent of another person.
It's time to move on. The law 'survived' referendum.
Again, this will have absolutely no discernable impact on "our" illegal immigration problem.
Why not channel the energy and resources to something that will; like, say, stricter enforcement against those that employ illegals.
Let's move past searching for that recently engaged gay, undocumented table games dealer, living in a recently redistricted congressional district who files tax returns that result in a full 100% refunded -no tax liability.
peace out
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If your mortgage deduction causes your net income tax liability to be zero, then , yes, you do not pay income taxes. ( that's not likely to happen) That it was withheld but given back to you becasue it was an overpayment- which in most cases is what a tax refund is (leaving aside the matter of refundable credits for now) is not paying income taxes. You "paid" ok at the tie it was witheld, but you got it back, so ultimately you did not. You're doing semantics here, Ken. You pay income taxes when your bottom line says you have X amount of income tax liability. If you have none, then you don't. It's not the government holding too much, we, the taxpayers decide how much is withheld when we fill out our W-4's, But, have too little withheld and you might get hit with an "underpayment" penalty and even if you don't , you will have a big bill come 15 April. I don't think there is any consequence for having too much withheld other that that could be money you could be having and using all year, though some do it as a form of a "forced" savings account, I guess.
In cases of EIC and people with maybe lots of kids ( hint) you get "refunds" not based on what was withheld. Your income tax liability is zero. Some folks still get taxes withheld even though they don't have to pay the tax and get that back of course too. Others realize they have zero income tax liability and have nothing withheld, so that they don't give the government an interest free loan.
Do you know what EIC and other refundable credits are? Do you know the dynamics there, because you don't seem to. Not that most people do unless tey're directly affected or have experince in tax return preparation
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Ok, now cover refundable credits other than EIC, please. Such as child credit.Sorry to burst the bubble of all the tax experts hereon, but these taxpayers/filers (Dream Act parents) would NOT qualify for the EIC !
To claim EITC on your tax return, you must meet all the following rules:
- You, your spouse (if you file a joint return), and all other listed on Schedule EIC, must have a valid Social Security Number.
- You must have earned income from working for someone else or running or operating a farm or business;
- Your filing status cannot be married filing separately.
- You must be a U.S. citizen or resident alien all year, or a nonresident alien married to a U.S. citizen or resident alien and filing a joint return.
- You cannot be a qualifying child of another person.
- You cannot file Form 2555 or Form 2555 EZ. (Related to foreign earn income)
- You must meet these EITC Income Limits, Maximum Credit Amounts and Tax Law Updates
- And you must meet one of the following:
- Have a qualifying child (see who is a qualifying child below), or
- If you do not have a qualifying child, you must:
- be age 25 but under 65 at the end of the year,
- live in the United States for more than half the year, and
- not qualify as a dependent of another person.
It's time to move on. The law 'survived' referendum.
Again, this will have absolutely no discernable impact on "our" illegal immigration problem.
Why not channel the energy and resources to something that will; like, say, stricter enforcement against those that employ illegals.
Let's move past searching for that recently engaged gay, undocumented table games dealer, living in a recently redistricted congressional district who files tax returns that result in a full 100% refunded -no tax liability.
( I'm not upset that Dream passed and agree it will largely have zero affect on the vast majority of us, I'm just debating for the sake of debate here)
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