I believe you had to give over $250 at one time to get anything in writing from TWI that you gave them money. We would get a letter once a quarter stating the dates and amounts we gave. Even if you didn't have the letter/receipt from them, you could use your cancelled checks to document how much you gave.
Giving cash would be a different story, though. But these days giving cash isn't a problem because you aren't really allowed to. It's an insult to give cash and make the HFC use his hard earned money to go get a money order for YOUR abs. Besides that, they can't trace who gave it for the blue forms which is funny since they SUPPOSEDLY don't keep up with who gives how much. -->
"... Interesting 1935! Says a lot to me. Says We went through a depression and a useless Prohibition. Probably justifies starting a tax in the first place."
I know that I will be mis-quoted here, and I already have been, ugh.
It was not that they started taxation for the first time, in the 1930's. We had taxation, but it is was not focused on individuals. It was for businesses.
"... Businesses in a warped way are suppose to alliviate the collection of taxes by home owners. But as they move out, taxes still remain and the tax payers are responsible."
True.
"Now there are all sort of odd tricks to do so besides the inevitable of raising property taxes, like creating new taxes to existing bills. Trust me, it happens. Example:I use less water, but my bill is $20 more a month."
They meter our water, and they charge us for that water. Then using the same meter readings, they charge us seperately for sewage. So that one cubic meter of water is metered and we are charged for it's use twice. Even if that water went into my lawn or into our jaqquzi, they still charge me for sewage treatment of that water, as a different bill.
:-)
Thanks for the correction, G, point taken. And about my water bill they did the same by adding sewage line fee, district fee...see that's not raising taxes, it's creating new taxes! :)-->
"just bear with me. You mention SSI in your response to long gone. You rattled my mind about a few things."
Does that hurt?
:-)
"The government(although obvious but ignored) and corp. do what they call 'double-dipping.' They tax you on your wages, then tax you at the beginning of the year. People who get refunds think...Great money coming back! Thing is in the meantime the gov made money from your interest which with all combined means billions! The taxes paid to it are just gravy!"
Respectfully I must disagree. Please dont tar and feather me. :-)
They do not 'double-dip' as such they just pre-collect.
Your salary is only being taxed once.
As money is taken out of your salary [assuming that you allow any to come out], it is 'held' or collected, and at the end of the year it's total is shown to you. YOu then have the opportunity of looking over and reporting all of that year's expenses and whatever your AGI was is what you compare against the tax-tables to determine your tax. If the amount that was withheld is more, then you get a refund. If the amount withheld was less then your total due, then you owe more.
But your AGI is not being taxed twice. sorry. :-)
"Shocking how many people don't realise that when you pay SSI it's for those already retired. Babyboomers are paying those retired. Now with babyboomers and a population drop..."
It was not meant to be this way. You pay into your account for forty quarters, then it is 'mature' and that collection could be used to pay for your retirement.
Unfortunately later it wa snoticed that SSA had a lot of money, so congress began using that money for highways, and monuments and social programs. Like it was free money that they could tap without paying back.
Once Congress drained SSA, now we have began to notice that something is wrong.
The idea originaly was not totaly a bad idea.
:-)
The real point that people miss, is this:
your retirement is calculated from the last 40 quarters worth of contributions. NOT the payments made previously. It was done this way, in the assumption that over your work career, your salary would always increase. So the last 10 years of working your salary would be it's lifetime highest earning potential. the problem is when you decide to start working part-time in your 50's. Now your contributions for your last 40 quarters look like junk, and your pension will be drawn down to match. :-(
Yeah, maybe I am a bit paranoid, but as crooked as they were it wouldn't surprise me.
Well, it has been documented that they track posters here. The ones they are really after are those who are still in the organization, and seemingly spare no effort to try to identify them.
They will selectively leak specific info and watch to see it posted here. It has happened. Certain posters verified that they were confronted with copies of what they typed, and I think some of them were given the famous "bums rush" out of the joint.
My opinion, its wasted effort; the organization is as good as dead. Even doc Frankenstein won't be able to revive it..
Or use a personal ledger to document all your living expenses.
Ten percent is pretty much accepted is normal, depending on your denomination. Some groups pay tithe is high as 20%, and so long as during the audit, you can name the group, show the auditor pamphlets or books or something to show that you do belong to said group, then they wont question your tithe.
If they do question it, it is due to some other thing that they saw, that caused them to wonder about your honesty.
We routinely give 15%, and it has never been questioned, during any audit.
"True charitable contributins don't amount to much in income tax these days, but back in the seventies they did."
"... Does the way still have all our names in their databank? When you move a few times and their newsletter follows you, they're tracking you."
I would not be nearly as concerned about TWI tracking me, as I woudl be concerned about the NSA tracking us. Every post, on every forum, goning back from the days of the fido BBSes, compiled and used to generate a personality profile of you. To try and predict who and when someone is likely to do such and such.
"... Interesting 1935! Says a lot to me. Says We went through a depression and a useless Prohibition. Probably justifies starting a tax in the first place."
I know that I will be mis-quoted here, and I already have been, ugh.
It was not that they started taxation for the first time, in the 1930's. We had taxation, but it is was not focused on individuals. It was for businesses.
You weren't misquoted, Galen.
The first personal income tax, on individuals, was adopted by the federal government during the Civil War. The modern personal income tax, on individuals, was adopted by the federal government in 1913 and has continued ever since.
If you had said that tax rates increased, or that the practice of witholding taxes from paychecks began under FDR, you would have been correct. But to say that the personal income tax began in the 1930s is not correct.
I was out by the time the UK split with LCM although I gather one of the reasons was that LCM was insisting that ABS be remitted to Ohio.
As to what happened to the money it is still a mystery, especially when Gartmore was sold. Have very little info about what happened to Robert Wilkinson.
I knew Chris and Nancy Kent well - Chris was my branch leader during my WOW year and he came from the same town as me. I don't even know if they are still together - I have heard of Nancy living in Altrincham but nothing mentioned about Chris.
But any organisation that demands stewardship (another popular phrase for tithe and ABS) should give an earthly account of it and not only to the tax authorities but to those who give it.
"Why? Chances of getting audited under normal circumstances are very slim.
Did it have somethng to do with your very creative accounting and tax reporting? Careful!"
No no no.
They also do audits upon request, Anyone who is not really sure about what they are doing and who wants to know from the real experts if they are doing it the right way, can ask.
In that case, we had to 'make-up' some numbers, not due to any fault of our own, but because a property manager had 'lost' all records. So we requested aduits for all years tha twe really were not totally sure about.
Audits are a good thing.
:-)
I dont understand why you would feel that you and I should be afraid of an audit. A person would only need to fear an audit if you had somethig to hide. Hmm?
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Galen
signals: "... They're tax-exempt and someone has to pay their share." Could you possibly explain? Paying someone's "Share", you are implying that someone owes shares, to what do they woe a share?
Belle
I believe you had to give over $250 at one time to get anything in writing from TWI that you gave them money. We would get a letter once a quarter stating the dates and amounts we gave. Even if you didn't have the letter/receipt from them, you could use your cancelled checks to document how much you gave.
Giving cash would be a different story, though. But these days giving cash isn't a problem because you aren't really allowed to.
It's an insult to give cash and make the HFC use his hard earned money to go get a money order for YOUR abs. Besides that, they can't trace who gave it for the blue forms which is funny since they SUPPOSEDLY don't keep up with who gives how much. 
-->
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signals
Thanks for the correction, G, point taken. And about my water bill they did the same by adding sewage line fee, district fee...see that's not raising taxes, it's creating new taxes!
:)-->
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Galen
signals:
"just bear with me. You mention SSI in your response to long gone. You rattled my mind about a few things."
Does that hurt?
:-)
"The government(although obvious but ignored) and corp. do what they call 'double-dipping.' They tax you on your wages, then tax you at the beginning of the year. People who get refunds think...Great money coming back! Thing is in the meantime the gov made money from your interest which with all combined means billions! The taxes paid to it are just gravy!"
Respectfully I must disagree. Please dont tar and feather me. :-)
They do not 'double-dip' as such they just pre-collect.
Your salary is only being taxed once.
As money is taken out of your salary [assuming that you allow any to come out], it is 'held' or collected, and at the end of the year it's total is shown to you. YOu then have the opportunity of looking over and reporting all of that year's expenses and whatever your AGI was is what you compare against the tax-tables to determine your tax. If the amount that was withheld is more, then you get a refund. If the amount withheld was less then your total due, then you owe more.
But your AGI is not being taxed twice. sorry. :-)
"Shocking how many people don't realise that when you pay SSI it's for those already retired. Babyboomers are paying those retired. Now with babyboomers and a population drop..."
It was not meant to be this way. You pay into your account for forty quarters, then it is 'mature' and that collection could be used to pay for your retirement.
Unfortunately later it wa snoticed that SSA had a lot of money, so congress began using that money for highways, and monuments and social programs. Like it was free money that they could tap without paying back.
Once Congress drained SSA, now we have began to notice that something is wrong.
The idea originaly was not totaly a bad idea.
:-)
The real point that people miss, is this:
your retirement is calculated from the last 40 quarters worth of contributions. NOT the payments made previously. It was done this way, in the assumption that over your work career, your salary would always increase. So the last 10 years of working your salary would be it's lifetime highest earning potential. the problem is when you decide to start working part-time in your 50's. Now your contributions for your last 40 quarters look like junk, and your pension will be drawn down to match. :-(
Knowledge is power.
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Ham
Well, it has been documented that they track posters here. The ones they are really after are those who are still in the organization, and seemingly spare no effort to try to identify them.
They will selectively leak specific info and watch to see it posted here. It has happened. Certain posters verified that they were confronted with copies of what they typed, and I think some of them were given the famous "bums rush" out of the joint.
My opinion, its wasted effort; the organization is as good as dead. Even doc Frankenstein won't be able to revive it..
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Galen
signals:
"How many got tax receits for their ABS?"
Pay with a check, and you dont need a reciept.
Or use a personal ledger to document all your living expenses.
Ten percent is pretty much accepted is normal, depending on your denomination. Some groups pay tithe is high as 20%, and so long as during the audit, you can name the group, show the auditor pamphlets or books or something to show that you do belong to said group, then they wont question your tithe.
If they do question it, it is due to some other thing that they saw, that caused them to wonder about your honesty.
We routinely give 15%, and it has never been questioned, during any audit.
"True charitable contributins don't amount to much in income tax these days, but back in the seventies they did."
I thhink it has always been important.
"... But who wants to file a 1040?"
We do.
:-)
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Galen
signals:
"... Does the way still have all our names in their databank? When you move a few times and their newsletter follows you, they're tracking you."
I would not be nearly as concerned about TWI tracking me, as I woudl be concerned about the NSA tracking us. Every post, on every forum, goning back from the days of the fido BBSes, compiled and used to generate a personality profile of you. To try and predict who and when someone is likely to do such and such.
:-)
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LG
The first personal income tax, on individuals, was adopted by the federal government during the Civil War. The modern personal income tax, on individuals, was adopted by the federal government in 1913 and has continued ever since.
If you had said that tax rates increased, or that the practice of witholding taxes from paychecks began under FDR, you would have been correct. But to say that the personal income tax began in the 1930s is not correct.
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Trefor Heywood
I was out by the time the UK split with LCM although I gather one of the reasons was that LCM was insisting that ABS be remitted to Ohio.
As to what happened to the money it is still a mystery, especially when Gartmore was sold. Have very little info about what happened to Robert Wilkinson.
I knew Chris and Nancy Kent well - Chris was my branch leader during my WOW year and he came from the same town as me. I don't even know if they are still together - I have heard of Nancy living in Altrincham but nothing mentioned about Chris.
But any organisation that demands stewardship (another popular phrase for tithe and ABS) should give an earthly account of it and not only to the tax authorities but to those who give it.
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igotout
I am a little behind on this thread so I regress to the previous post on a curious point:
Galen you said:
"We have been audited, numerous times."
Why? Chances of getting audited under normal circumstances are very slim.
Did it have somethng to do with your very creative accounting and tax reporting? Careful!
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Galen
igotout:
"Why? Chances of getting audited under normal circumstances are very slim.
Did it have somethng to do with your very creative accounting and tax reporting? Careful!"
No no no.
They also do audits upon request, Anyone who is not really sure about what they are doing and who wants to know from the real experts if they are doing it the right way, can ask.
In that case, we had to 'make-up' some numbers, not due to any fault of our own, but because a property manager had 'lost' all records. So we requested aduits for all years tha twe really were not totally sure about.
Audits are a good thing.
:-)
I dont understand why you would feel that you and I should be afraid of an audit. A person would only need to fear an audit if you had somethig to hide. Hmm?
:-)
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Ham
Well, one agreeable point I can see- with the IRS, it is definitely about the money, heh heh.
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