I have awaken to a cruel reality: the IRS STINKS! For the past 10 years, my former employer has completed my taxes for me. What a blessing that was! This year, they did it one last time, because I worked for them in 2007, but they only did my federal return. The state thingy was up to me.
I finished it today.
Since, as a pastor, I am considered "self-employed" for tax purposes, I will now have to send in estimated taxes to both the Feds and the state on a quarterly basis. EGADS!!!! For the Feds, I have to pay 15% of my salary in taxes and another 15.3% of my salary in self-employment (Social Security) tax. That's 30 stinkin percent!
This is my conclusion: personal income tax creates an unrealistic burden on the American population. (Big revelation, huh?) Besides, I don't think I'm getting my money's worth.