6 ms·
> my friend the tax accountant gets downvoted for clarifying how taxes actually work. Let me guess: Tax brackets? That's the one thing that most regular worker
by MenhirMike 3y ago
> my friend the tax accountant gets downvoted for clarifying how taxes actually work.
Let me guess: Tax brackets? That's the one thing that most regular workers in the US just don't seem to understand (and arguably, many people knowingly spread falsehoods to further some agenda).
- speff 3y agoDecent guess, but nah. Something to do with corporate tax accounting. Can't remember the details because that's out of my element.
- tpmoney 3y agoTax write offs would be my guess. Every employee of charities that partner with retail locations for PoS donations must die a little inside each time some fool confidently asserts that they never give to those charities because it's all a scam. The money, they will assert with the confidence only someone so wrong can muster, is just used for write offs so the executives can have a big bonus and the company gets to claim they donated all the money. Bonus points if they assert that the charity doesn't even get the donated amount.
- PopAlongKid 3y agoI think the basic thing about taxes that is least understood is the difference between gross income and taxable income (the latter is the amount that tax brackets apply to). A close second is the difference between tax liability, and refund/balance due on the tax return.
- sgerenser 3y agoJust try to convince the average person that “getting a big refund” is a bad thing, since it means you gave the U.S. government an interest free loan.
- rvnx 3y ago(Not from the US) Why is it a good thing to lend for free to the US gov ? Because the regional banks aren’t that stable ?
- tomoyoirl 3y ago“Look! I filed my taxes and I got money back! Yay money!” (Could have had that money all along.)
- dylan604 3y agoThe people that enjoy a tax refund would not really even notice the small amount they "could have had all along" by adjusting their withholding amounts.
- LegitShady 3y agoNah, because for people with poor financial skills, the ability to save is very difficult (even if they had the "Extra" money in their account each pay period instead of paying extra taxes). So even though you're technically getting your money "back", for some people they would not have been successful to 'save' so much without it being forced on them.
- minkzilla 3y agoIt is not a good thing because it is interest free and inflation exists. If you would have had that money earlier you could have put it in high yield saving account or payed down debt.
- fortran77 3y agoAnd yet here you are trying to spread an agenda in a thread about mouse pointers that taxes are too low because the majority of people are too stupid to understand tax brackets.