ECON I will disobey Trump's Payroll Tax EO to defund social security

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Bicycle Junkie

Resident dissident and troll
I'm self-employed (Subchapter S Corporation). My current meager income is subject to withholding for Social Security, Medicare and federal income taxes. When I do payroll I electronically make a deposit into the US Treasury. I intend to continue all payroll withholding. I believe the dictator Trump has violated the US Constitution by his executive order to defer payroll taxes. Tax laws and regulations are promulgated by Congress not the President. From a practical standpoint, it would be too much of a hassle to not pay the taxes as normal and I don't want a big, lump-sum tax bill when the EO ends. I just hope the US Treasury continues accepting my tax payments. I suspect they will.
 
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Cacheman

Cacheman

Ultra MAGA!
It's your choice, you and I as self employed already had the choice to defer the the employer share and put that money into something to make more money before paying it by 12/2021 and 12/2022 interest free.....

Deferral of employment tax deposits and payments through December 31, 2020 | Internal Revenue Service

The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows employers to defer the deposit and payment of the employer's share of Social Security taxes and self-employed individuals to defer payment of certain self-employment taxes. These FAQs address specific issues related to the...
www.irs.gov www.irs.gov

Do whatever makes you happy and satisfied.
 
kite

kite

Contributing Member
I’m sure the US Treasury will accept any and all payments. Alternatively you could create a separate bank account to put the taxes in and collect a few bucks interest on that account until “the rules“ change back and taxes are due
 
I

IJT

Veteran Member
There is a provision in the Tax Laws which enables the President to defray the collection of payroll taxes in an emergency, the dummies in Congress passed the law and then they forgot what they passed. Typical morons not reading the bills they vote for.
 
N

nwillitts

Veteran Member
Bicycle Junkie said:
I'm self-employed (Subchapter S Corporation). My current meager income is subject to withholding for Social Security, Medicare and federal income taxes. When I do payroll I electronically make a deposit into the US Treasury. I intend to continue all payroll withholding. I believe the dictator Trump has violated the US Constitution by his executive order to defer payroll taxes. Tax laws and regulations are promulgated by Congress not the President. From a practical standpoint, it would be too much of a hassle to not pay the taxes as normal and I don't want a big, lump-sum tax bill when the EO ends. I just hope the US Treasury continues accepting my tax payments. I suspect they will.
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income tax is unconstitutional you dip shit.
 
DazedandConfused

DazedandConfused

Veteran Member
Bicycle Junkie said:
I'm self-employed (Subchapter S Corporation). My current meager income is subject to withholding for Social Security, Medicare and federal income taxes. When I do payroll I electronically make a deposit into the US Treasury. I intend to continue all payroll withholding. I believe the dictator Trump has violated the US Constitution by his executive order to defer payroll taxes. Tax laws and regulations are promulgated by Congress not the President. From a practical standpoint, it would be too much of a hassle to not pay the taxes as normal and I don't want a big, lump-sum tax bill when the EO ends. I just hope the US Treasury continues accepting my tax payments. I suspect they will.
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Bitch Bitch Bitch !!
 
medic38572

medic38572

TB Fanatic
Bicycle Junkie said:
I'm self-employed (Subchapter S Corporation). My current meager income is subject to withholding for Social Security, Medicare and federal income taxes. When I do payroll I electronically make a deposit into the US Treasury. I intend to continue all payroll withholding. I believe the dictator Trump has violated the US Constitution by his executive order to defer payroll taxes. Tax laws and regulations are promulgated by Congress not the President. From a practical standpoint, it would be too much of a hassle to not pay the taxes as normal and I don't want a big, lump-sum tax bill when the EO ends. I just hope the US Treasury continues accepting my tax payments. I suspect they will.
Click to expand...

Oh boy that is gonna piss Trump off. Not!
 
Papacub

Papacub

Veteran Member
Bicycle Junkie said:
I'm self-employed (Subchapter S Corporation). My current meager income is subject to withholding for Social Security, Medicare and federal income taxes. When I do payroll I electronically make a deposit into the US Treasury. I intend to continue all payroll withholding. I believe the dictator Trump has violated the US Constitution by his executive order to defer payroll taxes. Tax laws and regulations are promulgated by Congress not the President. From a practical standpoint, it would be too much of a hassle to not pay the taxes as normal and I don't want a big, lump-sum tax bill when the EO ends. I just hope the US Treasury continues accepting my tax payments. I suspect they will.
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WAH, WAH, WAH! Orange man bad!
 
West

West

Senior
ivantherussian03 said:
How does a tax deferral help anyone.....just curious. Is getting a big tax bill a good thing. I wouldn't like that.
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You see the thing is that it's not any bigger a tax bill.

See rather you pay in tiny bits every quarter, month, weekly or in one lump sum at the end of the year, it adds up to the same amount.

What's so hard to understand about that.

Sorry, I find your logic weird. But as a individual business owner myself that use to pay monthly and now yearly I don't get it I guess.

Maybe it's all the advertising for products brainwashing, that people can buy stuff in just 6 $19.99 installments, is some how cheaper than $119 and change.
 
TKO

TKO

Veteran Member
West said:
I'll make a declaration too then...

I'll put my otherwise due income taxes into a savings account and make some pennies on interest. Or buy PM with it.

Decision, decisions....

Way to go Trump!
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Just be careful. Gold has hit over 2K before and it always goes back down. If you are looking at PMs as an investment...they are tricky.
 
West

West

Senior
TKO said:
Just be careful. Gold has hit over 2K before and it always goes back down. If you are looking at PMs as an investment...they are tricky.
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I'll just claim a loss if PMs tank. And that would put my total income at even a lower amount. And I'll still pay even less....

:D
 
thompson

thompson

Certa Bonum Certamen
Bicycle Junkie said:
I'm self-employed (Subchapter S Corporation). My current meager income is subject to withholding for Social Security, Medicare and federal income taxes. When I do payroll I electronically make a deposit into the US Treasury. I intend to continue all payroll withholding. I believe the dictator Trump has violated the US Constitution by his executive order to defer payroll taxes. Tax laws and regulations are promulgated by Congress not the President. From a practical standpoint, it would be too much of a hassle to not pay the taxes as normal and I don't want a big, lump-sum tax bill when the EO ends. I just hope the US Treasury continues accepting my tax payments. I suspect they will.
Click to expand...
ZjhllGo.jpg
 
L

LibertyInNH

Senior Member
Bicycle Junkie said:
I'm self-employed (Subchapter S Corporation). My current meager income is subject to withholding for Social Security, Medicare and federal income taxes. When I do payroll I electronically make a deposit into the US Treasury. I intend to continue all payroll withholding. I believe the dictator Trump has violated the US Constitution by his executive order to defer payroll taxes. Tax laws and regulations are promulgated by Congress not the President. From a practical standpoint, it would be too much of a hassle to not pay the taxes as normal and I don't want a big, lump-sum tax bill when the EO ends. I just hope the US Treasury continues accepting my tax payments. I suspect they will.
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Um, you do know that payroll taxes are theft under the color of law? This is an EO I can stand behind, because it restores the original intent of the founders regarding the financing of our republic.
 
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