How much did you pay in Income Taxes for 2005?

**SHOPGIRL** · 01-04-2006, 09:54 PM

I keep reading a bunch of posts that mention people will be getting an income tax refund. I'm so jealous! I usually have to pay in, and since I've been married we've yet to get anything back. I claim one exemption. So, for 2005, I paid the federal government $7,706.14. My state tax was $1680.56. I paid medicare $837.98, and social security $3,583.09. Thankfully, My taxable income was $10,000 less due to my contributions to my 403B. So, I've yet to figure out my taxes for this year, but just wondered what kind of taxes everyone is paying.

**Dixie** · 01-04-2006, 11:15 PM

We paid $5500 to the feds, around $2500 to the great state of GA and I can't remember the amount we paid to SS and Medicare.

**staceyy** · 01-04-2006, 11:43 PM

I have no idea what we paid last year but we always get a refund of several thousand dollars. This is because we take deductions for the interest on our home, our 401K and our medical reimbursement plan. We also both have tax free income, our per diem, to cover our travel expenses.We do not have to report this on our tax return.

**couponchic** · 01-05-2006, 06:39 PM

Shopgirl, if you always end up owing taxes at year end, maybe you should claim zero, so that more tax will be taken out through the year as opposed to paying it all at year end. Just a thought.

**SHOPGIRL** · 01-05-2006, 06:57 PM

No, I'd rather have to pay a little at the end than the government have my money. I think this year, we won't have to pay as much. I had more invested into my retirement plan. Also, last year, we had only owned our house for 7 months so this year it will be 12 months and that will probably make a difference. The tax cut helped out a little last year.

**Katybird** · 01-05-2006, 07:48 PM

I can say it was entirely too much last year. I really hate this time of year.

**Valerie in WA** · 01-05-2006, 09:00 PM

My dh is self-employed and made quarterly payments totalling $8000. That's for federal and "both halves" of FICA (Social Security). (If you have an employer he matches your SS; if your self-employed, you have to pay it all). I work half-time and have paid $6109 total for federal, SS, & Medicare.

Our total is then over $14,000. We'll probably have to pay another $500 or so.

We do not have state income tax, but our sales tax (on everything except grocery foods) is 9%. We bought a truck this year, so we've paid plenty to the governor.

**owiebrain** · 01-08-2006, 11:56 PM

For fed taxes, we paid in about $1800 for the year but we're getting a refund of $6300 due to various refundable credits. Don't have the state numbers offhand but we're getting back $300 from that.

**homesteadmamma** · 01-09-2006, 04:52 PM

I can say with Katybird, way too much. Our income taxes are horrendous in Canada. Although with the election on the forefront, they are promising less taxes. Do I believe them - right!!!

**momof42003** · 01-28-2006, 09:17 PM

We paid over 10,000 in state and federal taxes... That said, we also paid over 6,000 in just interest for the house.... I hope we will be getting some of that money back...

**inneedofhope** · 02-12-2006, 10:43 PM

all my federal comes back to me, but I do pay in to state.

**Kimberlina** · 02-12-2006, 11:22 PM

I have no idea. We claim single and zero, but we almost always get only a little back from federal and owe on state taxes. That is because they never, ever take enough out for part-time jobs, which mine is, and DH has a PT job in addition to his full-time job. Doean't matter if we have extra taken out, either...

**Kimberlina** · 02-12-2006, 11:23 PM

That should say no idea next.

**Englishlady** · 02-13-2006, 05:49 AM

In the UK our tax system is different but my dh pays 40% of his monthly salary in taxes to the Inland Revenue ( our IRS

) THEN he has 7% taken off for National Insurance payments ( like a compulsory pre-pay for health care) and THEN 7% compulsory to a pension plan*

So he actually gets to keep LESS than HALF his salary

The pension plan, good in theory but not very generous.......when he retires at 55 he will get just 25-28% of his salary

which is why we are saving like crazy to bolster that up.

We don't file taxes like you guys do, it is all done automatically ( deducted from source through your salary, so THEY get their hands on it before YOU do!

............) If you are self employed THEN you file tax returns but it gets very complicatd and most self employed people employ an Accountant to do the returns for them.
They fine you for not paying on time and it isn't cheap!

**SewCrafty** · 02-13-2006, 11:00 AM

I just did our income taxes yesterday and for the first time in over 20 years we are getting a federal refund!

Hubby is now retired and I don't work outside of the home. We no longer have to pay state taxes and they took about 8% out of his retirement checks for federal.