SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Where the GIT's are going -- Ignore unavailable to you. Want to Upgrade?


To: PatiBob who wrote (148478)7/17/2007 10:43:13 AM
From: Carolyn  Read Replies (1) | Respond to of 225578
 
Oh, that is nice!



To: PatiBob who wrote (148478)7/17/2007 10:48:03 AM
From: Ken Adams  Read Replies (1) | Respond to of 225578
 
That story about your son being paid in cash, with no deductions, reminded me of a similar story years ago. As many of you know, I'm in Coors Country and the main brewery is only about 10 miles from my house. It was more than 30 years ago, Coors decided to make a point about the amount of money their employees were giving to the government in taxes. To drive this home, they told their employees what they were going to do ahead of time. They paid everyone their full pay, I think for a month, with NO deductions. Then, the following pay day, took all the deductions in one fell swoop out of the next check. Howls could be heard all the way to the state line. National news and the works. It upset so many of them the union got involved. Coors never repeated that little lesson, but a lesson it certainly was.



To: PatiBob who wrote (148478)7/18/2007 10:51:20 AM
From: Alan Smithee  Read Replies (1) | Respond to of 225578
 
One problem is, they pay him in cash. We're making him deposit 45% if his pay check into his savings account to pay taxes at the end of the year.

PatiBob, no need for that.

1) If he earns less than $5,000, he owes no tax;

2)Even if he earned enough, his tax bite would not be 45%;

3) The "Kiddie Tax" does not apply, because it only taxes "unearned income."

Cut the money loose.

savewealth.com