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John Kerry Fails to Pay Any Estimated Income Tax for 2003
Kerry Tax Return via Tax History Org ^
| 4/16/04
| self
Posted on 04/16/2004 7:42:12 PM PDT by Too_Bad
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To: Poodlebrain
When line 28 [Form 6251] exceeds $307,000, for married filing separately, then $29,000 must be added to the total.
61
posted on
04/16/2004 11:41:45 PM PDT
by
Too_Bad
To: Too_Bad
I paid quarterly for a couple of years in the late 90's. If I had to, I know DAMN WELL than Johnny STILL has to, since if I was a 'thousandaire' and had to pay it........
62
posted on
04/16/2004 11:48:55 PM PDT
by
Dan from Michigan
("...and tell our enemies that they may take our lives, but they'll never take...OUR FREEDOM")
To: Dan from Michigan
The minimum Kerry was supposed to pay during 2003 was $32941. He would have been aware of this, at the latest, by 4/15/03 when he filed his 2002 return because he had sold the painting for an $175,000 profit on 3/26/03. [The $32941 is 110% of his 2002 tax liability, which for married filing separately with AGI over $75,000 is the minimum payment required during the year.]
The irony is that Kerry is calling for a return to the "Pay-Go" or pay-as-you-go system, but he sure doesn't abide by that method when it comes to paying his own taxes.
63
posted on
04/17/2004 12:17:59 AM PDT
by
Too_Bad
To: rs79bm
How do you evil freepers know that Teresa didn't pay them?
(/sarcasm)
64
posted on
04/17/2004 12:35:13 AM PDT
by
stocksthatgoup
(illegitimo noncarborundium)
To: Too_Bad
Yep, he paid NO estimated tax on his other income. He only reported his withheld amount from his Senate salary.
Thus, he paid in FAR LESS than the required 90% (BS law anyway)...but that's typical for Dems...the law doesn't apply to them.
65
posted on
04/17/2004 12:38:51 AM PDT
by
Fledermaus
(Ðíé F£éðérmáú§ ^;;^ says, "John Kerry could bore a rock to erosion!")
To: Luis Cyphier
Medical Expenses? Is Kerry doctor shopping??? ........
66
posted on
04/17/2004 12:44:47 AM PDT
by
stocksthatgoup
(illegitimo noncarborundium)
To: Fledermaus
Thus, he paid in FAR LESS than the required 90% (BS law anyway)...but that's typical for Dems...the law doesn't apply to them. For Kerry [with his big profit in March 2003 from the painting sale] it's 110% since he files separately and his AGI exceeds $75,000.
67
posted on
04/17/2004 12:45:53 AM PDT
by
Too_Bad
To: deport
68
posted on
04/17/2004 7:54:07 AM PDT
by
MeekOneGOP
(Become a monthly donor on FR. No amount is too small and monthly giving is the way to go !)
To: deport
Check out the '9%' category ...
69
posted on
04/17/2004 7:55:56 AM PDT
by
MeekOneGOP
(Become a monthly donor on FR. No amount is too small and monthly giving is the way to go !)
To: P-Marlowe
Not paying estimated taxes is not a crime. It merely subjects you to a penalty. And often the penalty is less than the amount of return on investment that you could get by investing the money rather than giving it to the IRS to draw interest on for a year.Really? 2003 was the frst year that DH and I went from withholding to paying quarterly estimates. I didn't know we had the option of waiting to settle up. How big is the penalty? Like 1 or 2%? And would this method make us more likely to be audited?
70
posted on
04/17/2004 8:05:12 AM PDT
by
EllaMinnow
("Pessimism never won any battle." - Dwight D. Eisenhower)
To: redlipstick
How big is the penalty? If you don't pay anything at all, you will get hit with a pretty big penalty (like maybe 10% or more). But if less than 10% of your entire tax bill is not paid (as is my case every year) then the penalty is pretty small. I think my overall tax bill was something like $27,000 and my witholding was about $2200 short. The penalty was $7.00. The interest I got on the money was probably something like $40.
If you are going to owe like $30,000 in taxes and you don't pay ANY quarterly taxes, you could get hit with a substantial penalty (probably more than you could get from an S&P investment). But if you only pay in about $27000 in estimateds, your penalty is not likely to be very much. At least that's my experience. But I don't know anything about tax law. I only know what I paid.
71
posted on
04/17/2004 8:16:20 AM PDT
by
P-Marlowe
(Let your light so shine before men....)
To: P-Marlowe
Thanks very much for the reply. It's something to bear in mind, come July 15th.
72
posted on
04/17/2004 8:38:09 AM PDT
by
EllaMinnow
("Pessimism never won any battle." - Dwight D. Eisenhower)
To: Too_Bad
Estimated taxes are for the "little people".
73
posted on
04/18/2004 9:51:03 AM PDT
by
jackbill
To: Too_Bad
He can't even file his taxes correctly, so how's he going to run our government?
74
posted on
04/18/2004 9:55:38 AM PDT
by
Ciexyz
To: deport
That Kerry is a taxing fellar.... Yeah, he was in Pittsburgh on Friday holding hands with Governor Ed Rendell. As soon as Democrat Rendell got in office, out state income tax went up to 3.1 percent. Crooked Philly politician Rendell, he won the governorship with the aid of Pittsburgh and Philly (most of the rest of the state was in the Red/Republican column).
75
posted on
04/18/2004 9:58:12 AM PDT
by
Ciexyz
To: P-Marlowe
At any rate if I had just put the estimateds in an interest bearing checking account I would have earned about $40 over the course of the year. So at a minimum I saved $33 by not sending in my estimateds. Where do you get something like 4% on a checking account? I'm getting about 1/4%.
76
posted on
04/18/2004 9:58:28 AM PDT
by
jackbill
To: jackbill
Where do you get something like 4% on a checking account? My calculations were based on about a 1.5% interest bearing money market account. This is pretty common right now. If you are getting 1/4% you need to change banks.
|
RATE
|
YIELD*
|
BANK
|
MINIMUM
|
INFO
|
2.25% |
2.27% |
Corus Bank |
500K |
link |
2.13% |
2.15% |
VirtualBank |
$100 |
|
2.09% |
2.11% |
Bank of Internet** |
$1 |
link |
2.08% |
2.10% |
Union Federal Bank |
$1 |
link |
2.08% |
2.10% |
Charter One Bank |
$50 |
link |
2.05% |
2.07% |
Timberwood Bank |
$100,000 |
link |
1.99% |
2.00% |
National InterBank |
$1 |
link |
1.99% |
2.00% |
Capital One FSB |
10K |
link |
1.99% |
2.01% |
MetLife Bank |
$5,000 |
link |
1.98% |
2.00% |
GMAC Bank |
$1,000 |
link |
1.98% |
2.00% |
ING Direct |
$1 |
|
2.03% |
2.05% |
National InterBank |
$1 |
link |
1.97% |
1.99% |
ZionsBank |
$1,000 |
link |
1.79% |
1.81% |
GiantBank |
$1,000 |
link |
|
|
|
77
posted on
04/18/2004 10:11:18 AM PDT
by
P-Marlowe
(Let your light so shine before men....)
To: Too_Bad
78
posted on
04/18/2004 10:14:24 AM PDT
by
Dog Gone
To: Registered
79
posted on
04/20/2004 5:30:54 AM PDT
by
ConservativeMan55
(There is no problem so great that it cannot be solved with high powered explosives.)
To: Hannity
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