1509
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 08 Sep 2023
1509 points (100.0% liked)
Technology
59430 readers
2589 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
The US allows deductions, which can come from a large number of sources. Some examples include interest paid on the mortgage of your primary residence, certain health care costs, or charitable giving. Since your job doesn't know about those, they can't make that calculation in your payroll withholding.
Health care costs in Europe? Nice try. We are taxed for that. What he meant is that in desember you usually get a notice from the tax office about next years tax rate. In 2024 you'll probably pay this much taxes and have these deductions. Is this correct? You'll have time to change it if you need to and then a set tax rate is made to pay for your taxes for 2024, which is then deducted from you pay check.
Come 2025 and tax season you should have a tax bill for 2024 at 0. If everything checked out. Should be said that the tax office always tax a bit more to be on the safe side.
Only thing I have to do each year is moving half of the paid interest to my girlfriend. (if we were married that would have happened automatically)
Also in my country all charitable donations above 50 USD is registered and gets laid out the tax form. You only get deductions over 50 USD with wire transfer. Paid in cash doesn't count.
It's really easy as it should be.
You can do that in Ireland too. For health insurance the insurer handles the tax and takes it off what they charge you. For charities if you donate over a certain threshold the charity gets to claim back the tax you paid for themselves. For ongoing things you inform Revenue and they let your employer know to collect less tax. Then for other things you just tell Revenue and they refund you.