posted on Aug, 17 2008 @ 01:56 PM
reply to post by Scorched Earth
Yep I can't say it any better. I am currently in college majoring in accounting and what you just said makes sense. I just can't bealive my dad
have been paying the government so much in taxes and even the income tax.
However in our accounting class they make you assume that your trade for hours is a gain a profit even though it's not.
They do teach you in college that you are supposed to pay the taxes.
I just this summer took a online class from my college and it was Federal Tax class. I asked my professor and he couldn't give me a straight
answer.
He told me they are professional and they know what they are doing.
We had hw problems of home owners like 2 married couple the husband only make the money and he is an engineer and brings home $x we were to figure out
how much they owed to the governement.
We had to put whatever the guy brings home for working at a company.
We had to figure out the adjusted gross income which is income - deductions .
Then we would get your taxable income and then look at a table seeing how much you need to paythe gov when we get that figure we had to then subtract
any expenses you occured they also do allow a certain amout of personal expense.
So I am just saying I am learning in thise type of field and now finding this out I am like OMG how are we such fools for paying the government more
money then needed???