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Archive through September 24, 2008

Reality TVClubHouse Discussions: General Discussions ARCHIVES: July 2008 - Sept 2008: The only Dumb question is the one not asked (Q&A): Archive through September 24, 2008 users admin

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Herckleperckle
Member

11-20-2003

Sunday, September 21, 2008 - 2:23 am   Edit Post Move Post Delete Post View Post Send Herckleperckle a private message Print Post    
It was an all-day, half-the-night (waterfront) event in Chesapeake City, MD. We had a blast! The weather was delicious! Not hot during the day; just beautiful! Even got chilly in the evening.

Wargod
Moderator

07-16-2001

Sunday, September 21, 2008 - 3:03 am   Edit Post Move Post Delete Post View Post Send Wargod a private message Print Post    
Sometimes it's better to rest and give a gift a little late, Herckle. I do baby/wedding albums for gifts and even after all the ones I've done there are still times I'll work late and/or quickly and make some major mistake. Ends up being more time consuming and frustrating just by trying to rush it.

Hehe, not sure I've ever told the story of my cross stitch baby blanket here or not? I bought it when I was pregnant with Caleb. I've done cross stitch before, but I really didn't put much thought into how much work the baby blanket would be and that it was more complicated than anything I'd done before. Needless to say, I never finished it before he was born. I wrapped it up in plastic and stuck it in the closet cuz there was no way I had time to do it after he was born. When I got pregnant with Kota, I pulled it out again. Got some more work done, but still didn't finish it so it went in the closet again until sis got pregnant with niece. Pulled it out, did some work, never finished it. Between Caleb and now there's been 8 babies born in the family and each time I pull that blanket out, do some work, then don't finish it! It's still in the closet, lol, maybe halfway done. Figure by the time I have grandkids I might have it done.

Juju2bigdog
Member

10-27-2000

Sunday, September 21, 2008 - 8:35 am   Edit Post Move Post Delete Post View Post Send Juju2bigdog a private message Print Post    
Aw, that is darling, HP. I bet yours will be great.

Urgrace
Member

08-19-2000

Sunday, September 21, 2008 - 12:35 pm   Edit Post Move Post Delete Post View Post Send Urgrace a private message Print Post    
Sounds like it was quite an event, and you'll have a great quilt square when you hand it over, too, Hercky.

War, the baby who gets to possess that blanket will be a special one.

Seamonkey
Moderator

09-07-2000

Sunday, September 21, 2008 - 12:41 pm   Edit Post Move Post Delete Post View Post Send Seamonkey a private message Print Post    
HP, that is very cute! I've been to Chesapeake City, MD, once, and it was very nice. I got to visit Janet Churchill, who was big in labradors and they had quite a nice place on the water.

War, you'll have to write up that history to go with the blanket.. and it would be fitting if it went to a grandchild. (That gives you a few more years )

Wargod
Moderator

07-16-2001

Sunday, September 21, 2008 - 10:07 pm   Edit Post Move Post Delete Post View Post Send Wargod a private message Print Post    
Bite your tongue Sea, better be more than a few years!

Seamonkey
Moderator

09-07-2000

Monday, September 22, 2008 - 12:11 am   Edit Post Move Post Delete Post View Post Send Seamonkey a private message Print Post    
LOL.. that just gives you more time!!

Kitt
Member

09-06-2000

Monday, September 22, 2008 - 12:09 pm   Edit Post Move Post Delete Post View Post Send Kitt a private message Print Post    
Question:
I have a doctor whose name is Dr Lam Do (he's Vietnamese). Should I refer to him as Dr Lam, or Dr Do? I'm not sure how it works with Vietnamese.

Hukdonreality
Member

09-29-2003

Monday, September 22, 2008 - 12:30 pm   Edit Post Move Post Delete Post View Post Send Hukdonreality a private message Print Post    
Call his office and see whether they answer, "Hello, Dr. Lam's office" or "Hello, Dr. Do's office".

Babyruth
Member

07-19-2001

Monday, September 22, 2008 - 12:46 pm   Edit Post Move Post Delete Post View Post Send Babyruth a private message Print Post    
And if they answer, "Bla Bla Bla and Associates Physician Group", just ask the person who answers the phone how to say his name :-)

Wargod
Moderator

07-16-2001

Monday, September 22, 2008 - 1:15 pm   Edit Post Move Post Delete Post View Post Send Wargod a private message Print Post    
LOL I started to say, at my aunts drs office they answer with both first/last name and at the kids they answer with the practices name.

Kitt
Member

09-06-2000

Monday, September 22, 2008 - 1:51 pm   Edit Post Move Post Delete Post View Post Send Kitt a private message Print Post    
They answer with the practice's name! I'll just have to ask them. Thanks anyway :-).

Costacat
Member

07-15-2000

Monday, September 22, 2008 - 2:49 pm   Edit Post Move Post Delete Post View Post Send Costacat a private message Print Post    
It's entire possible that he's "Americanized" his name, too. So that he does go by Dr. Do here in the States.

Ophiliasgrandma
Member

09-04-2001

Monday, September 22, 2008 - 2:52 pm   Edit Post Move Post Delete Post View Post Send Ophiliasgrandma a private message Print Post    
If he doesn't have a very large practice is he Dr. Do-Little?

Julieboo
Member

02-05-2002

Monday, September 22, 2008 - 3:17 pm   Edit Post Move Post Delete Post View Post Send Julieboo a private message Print Post    
OG you are on a roll today!!

Kitt
Member

09-06-2000

Monday, September 22, 2008 - 3:26 pm   Edit Post Move Post Delete Post View Post Send Kitt a private message Print Post    
It's pronounced more like "doe, a deer, a female deer." A specialist I went to last year was a Dr Nguyen, so it was easy for me to know that was his last name, but he shared a practice with his son, obviously also a Nguyen. The staff there referred to them as Dr <first name> but I don't know if that's because there were two Dr Nguyens and it would be confusing otherwise. I expect he's used to people using both versions and won't be offended either way. I just wanted to look knowledgeable

Nyheat
Member

08-09-2006

Wednesday, September 24, 2008 - 1:27 pm   Edit Post Move Post Delete Post View Post Send Nyheat a private message Print Post    
Question:

I made freelancer (untaxed wages) this year. Let's say I made $15,000. How much should I expect to pay in to the IRS in April? I need to start planning now, I think it's gonna be a lot.

I'll be making taxed wages as off Monday (new job! :-)) but want to calculate that separately.

Thanks!!

Kitt
Member

09-06-2000

Wednesday, September 24, 2008 - 1:40 pm   Edit Post Move Post Delete Post View Post Send Kitt a private message Print Post    
You will be taxed for income tax depending on the tax bracket any other income puts you in. E.g. if this is $15K on top of $40K you'd earned throughout the year as an employee or got through investments that'd give you income of $55K and put you in the 15% tax bracket and you'd have to pay income tax of 15% of that $15K. (You also might want to check you don't have to pay estimated taxes on that account, or alternatively consider increasing your withholdings at your next job so you don't owe so much at the end of the year.)

As a freelancer you'd also pay self-employment taxes, which are double the payroll taxes you'd pay if you were employed (soc sec tax and medicare tax). So that's another 15.3% you'd have to pay, on top of the income tax. As a self employed person there are some credits and deductions you can take which will help you out. Have a look at IRS Schedule SE.
http://www.irs.gov/taxtopics/tc554.html

I had to do it last year for what sounds like a similar reason, and it wasn't too complicated.

Nyheat
Member

08-09-2006

Wednesday, September 24, 2008 - 2:01 pm   Edit Post Move Post Delete Post View Post Send Nyheat a private message Print Post    
Okay, so if I make less than 30K total for the year (most likely), I will be in an income bracket that pays less than 15%? I hope so. Plus the 15% self-employment tax, so it's potentially up to 30%? Yikes.

Self-employment taxes sound like a lot. I'm expecting to pay in a ton. The withholding at the next job suggestion is a good idea, though it'll only be three months this tax year.

I'll check out that link, thanks so much!

Kitt
Member

09-06-2000

Wednesday, September 24, 2008 - 2:35 pm   Edit Post Move Post Delete Post View Post Send Kitt a private message Print Post    
I'm assuming you're single...
For 2008 the tax brackets are approximately:
10% for 0 to $8000
15% for $8000 to $32,500
so you'd be taxed 10% on the first $8K(ish) and 15% on everything above that.

The 15.3% self-employment tax will only be on that $15K freelancing money, the rest has the 7.65% payroll taxes withheld at source. But there's a deduction on the 1040 so that you don't pay income tax on that extra Self-Employment tax (the extra 7.65%) so that helps a little. And don't forget you can deduct expenses like commuting costs or consumables from your freelancing income.

(And finally of course, don't rely on anything I say about taxes - I'm not qualified, I just did it last year for myself, that's all!)

Nyheat
Member

08-09-2006

Wednesday, September 24, 2008 - 4:16 pm   Edit Post Move Post Delete Post View Post Send Nyheat a private message Print Post    
Oh no, that's great, Kitt! I appreciate it so much.

So the freelancing money is taxed once, at the 15.3% rate. The remaining money (to be made from Oct.-Dec. this year) will be taxed 7.65% at source. Most likely new job will bring in less than $8000 for three months, so maybe only the 10% tax bracket on that? I feel really dumb.

Okay, so the damage won't be as horrible as I thought. Thanks again!!!

Kitt
Member

09-06-2000

Wednesday, September 24, 2008 - 4:49 pm   Edit Post Move Post Delete Post View Post Send Kitt a private message Print Post    
"So the freelancing money is taxed once, at the 15.3% rate. The remaining money (to be made from Oct.-Dec. this year) will be taxed 7.65% at source."

For self-employment/payroll taxes, yes. In addition (not sure if you thought I meant instead of, in the above) there's income tax.

And for income tax, all the income you get this year is added together, and taxed (for income tax) in tiers. It doesn't matter what order you got the money, the IRS only care about the total (that's not strictly true, but more or less).

If you assume the withholdings your earlier employer took (income tax and payroll tax) and the withholdings your new employer will take (income tax and payroll tax) more or less cover the actual taxes you will have to pay for those wages, the extra taxes you should allow for on the freelancing money are:

15% for income taxes (= $2250)
15.3% for self-employment tax (= $2295)
for a total of $4545. (actually slightly less than that due to the deductions)

And what's worse is when it comes to doing your taxes they may say you didn't withhold taxes in a timely manner (as taxes are meant to be paid in the period in which the income was received). So it might be worth while asking your new employer to withhold more income taxes for the last few months of the year, so that you don't get a fine come April. (However that's a lot of extra tax to withhold over just three months.) Or you could pay estimated taxes asap. I don't know enough about that to advise you but I'd hate to not mention that there might be a fine if you don't pay some tax on your freelancing money before the end of the year.

Nyheat
Member

08-09-2006

Wednesday, September 24, 2008 - 5:14 pm   Edit Post Move Post Delete Post View Post Send Nyheat a private message Print Post    
Oh gosh, thanks again! Wow, I have a lot of saving to do. Will get on that....

Costacat
Member

07-15-2000

Wednesday, September 24, 2008 - 5:41 pm   Edit Post Move Post Delete Post View Post Send Costacat a private message Print Post    
Nyheat, it might be worth it to spend a couple hundred dollars and talk to a tax account. He or she can tell you what your estimated taxes will be, can help you with other deductions (such as that for a home office), and so on. It really is worth the $350 I spend each year (which, by the way, is deductible) on my tax accountant.

Nyheat
Member

08-09-2006

Wednesday, September 24, 2008 - 5:50 pm   Edit Post Move Post Delete Post View Post Send Nyheat a private message Print Post    
Thanks again--I just enrolled at the IRS automatic withdrawal site. If I don't start paying in ASAP, I'm gonna get fined.

Boy, did I screw this one up. I'll be following up with deductions and whatnot. Thanks, guys!