So, it's looking like I'm going to owe the IRS a whopping thousand dollars in the next few weeks for the Miscellaneous work that I've done for Clear Channel and the United States Tennis Association in 2008. This is what's fascinating to me.
Total earned: 2696
Total taxes to be paid: 1399.
Amount actually kept: 1297.
WTF?
What is the point of doing any work outside of your real job, if you get taxed a whopping 50+ percent. And how the hell is that fair? 50-plus percent. Ridiculous. Frustrating to me because I should have been more aware of it. And now it makes it unlikely that I'll ever do any of that work again, because it just isn't worth it. I love working the Challenger every year, but if over half of my pay is taken away, I see no reason why I'm going to absolutely burn myself out for it. (Sorry Alex) I may change my mind in October, when I realize how desperate my financial situation is.
Weekend was good. Got a nice 10 miler in on Sunday, and while stiff this morning, I'm not in a ton of pain, which is a very good sign. Julia got back safely, and happened to be on the same flight as Christian Michner, co-host of the award winning program, Corner Kicks with Cation and Christian, on fightingillini.com. New episodes coming shortly.
Also got to hang out with Glenn for a bit, and Tyler, and someone whose name is Echo Love.
3 comments:
OMG... I totally know where you're coming from. I had the same thing happen to me this year. I seriously don't understand how self-employed people are supposed to survive with all the taxes they have to pay. Ugh!!
Well, that tax stuff boning you, is meant to rein in high end earners. Make it harder for them to hide their money. But per usual it bones those in the middle/lower tax brackets. These are artifacts of the trust busting in the early 20th century.
Remember that those in the top 5% income bracket are currently paying much lower effective marginal tax rate.
Tax code seriously needs to be cleaned up.
That is why I have everyone pay me in cash. Don't let THE MAN take your money. Put it under your bed.
For those of you coming over this weekend, Jill and I actually don't hide money under the bed...or do we?
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