| [17:01] System: Lenny
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| [17:01] Lenny:
What's the deal with the bizarro American tax system? Does everyone have to file taxes at the end of the year? Does no-one just get their pay cheque with tax on their earnings already deducted? |
| [17:31] System: Lenny
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| [21:28] System: WetWired
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| [21:28] WetWired:
They do, but they can't know your exact taxes at that time, so you have to file to reconcile what you paid with what you owe. If you do standard withholdings and don't have any special circumstances, you end up with a few hundred dollar refund. Due to school expenses, I've had refunds over $1000. It's also possible to set no withholdings and owe thousands. |
| [21:45] System: WetWired
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