Paying Taxes
Bah. Just finished paying off all the taxes.
The honor I have of being an ordained minister means I get to pay quarterly estimated taxes. Yes, four times a year I cut a check to our federal government and the state of Arkansas. Because an ordained, full-time minister is actually considered self-employed by our beloved government. So I pay. And if I don't estimate enough, well we can just make it all up at the regular income tax deadline. So, I get to cut even MORE money out for them. I LOVE being such a part of the inner-workings of our country!
Being single, the only real perk I have is the tax-free housing allowance. And that HARDLY balances out shelling out over 1/4 of my salary each year to the state and federal gov.
I complain but that is pretty much the system we live in. You live in the good old USA and you get to pay the taxes. I just wish I had more confidence that my elected officials could fix our financial crisis. Huge debt. Crazy deficit. Social security is falling apart...I wonder if I can still opt out of that? Hmmm...
In other words, I am proud to be an American. God bless the USA, mom, apple pie, Lee Greenwood, Rocky from Rocky 4, James Brown, hot dogs, football, baseball and the good people at Spann and Associates Accounting firm.
posted by Craig Smith at
6:07 PM
2 Comments:
Actually, ministers are not considered self-employed, but they do have to pay self employment tax on the housing allowance portion of their salary. Unless of course they opt-out of social security which i dont recommend because...oh, i forgot, tax season is over! Not THAT'S something I can definitely thank God for!
8:58 PM
they make you pay estimates because they want you to "pay as you go" with taxes. they dont want you to write one big check at the end of the year. the main reason is it makes collection easier. easier to get $500 out of someone than $2000. second, if everybody paid their taxes all at once at the end of the year, there would be a revolt. as it stands now people have no idea how much they pay in taxes each year. all they know is if they had to pay or owe a little with the return, but that aint the big picture. clever huh!
4:44 PM
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