SoundPosts

$966

Smart enough, as an individual, to earn corporations a profit; as individuals, smart enough to financially support our troops, our legislators, our civil servants, our elderly, our poor. Trustworthy enough, in many cases, to obtain student loans, auto loans, and credit loans (credit cards). Smart enough to profit others but to stupid to earn a living wage, individually.
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You said it!
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$7.25 in Current

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Where’s the liberty; where’s the independence?

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The biggest chunk of your money — 42.2 cents of every income-tax dollar — goes to fund the military. Over half of it, or 28.7 cents, goes to pay for the current war and military, 10 cents goes to interest payments on past and present military debt and 3.5 cents is allocated for Veterans’ benefits. (Photo: AP)

http://www.cnbc.com/id/24033281/?photo=2

The second largest amount is spent on health care initiatives, including Medicare. (Photo: AP)

http://www.cnbc.com/id/24033281/?photo=3

About ten cents of every federal tax dollar is spent on interest for non-military related national debt. (Photo: AP)

http://www.cnbc.com/id/24033281/?photo=4

These funds go to a variety of programs to help the underprivileged. They include food assistance, supplemental income for those with low incomes and assistance for foster care and adoption programs. (Photo: AP)

http://www.cnbc.com/id/24033281/?photo=5

These funds go towards paying for elementary, secondary and higher education. Other beneficiaries include employment training centers. (Photo: AP)

http://www.cnbc.com/id/24033281/?photo=6

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2011 Withholding Calculator

Based on your responses, your anticipated income tax for 2011 is $966. If you do not change your current withholding arrangement, you will have $0 withheld for 2011, leaving $966 due when you file your return. To meet your anticipated tax of $966, change your current withholding arrangement by claiming 0 allowances plus an additional amount of $117 for the balance of 2011. Here’s how:
    • Enter 0 on line 5 of your Form W-4.
    • Divide $117 by the number of paydays remaining in 2011 and enter the result on line 6 of your Form W-4. This is the extra amount you need to have withheld each payday to ensure that you do not have too little withheld. Assuming 29 paydays remain for a weekly pay frequency, this amount is $4.
    • Check the “Single” box on your Form W-4.

Assuming this recommendation is in effect for the rest of 2011, your withholding will approximately equal your anticipated tax, and any refund or balance due should be less than $25.

Tip Be sure to review your withholding at the beginning of 2012 (or anytime there is a change in your tax situation). If you follow the above recommendation and do not check your withholding at the beginning of next year, your withholding for 2012 might be incorrect.


Following is a recap of information you entered on the preceding pages on which the above advice is based. Review this information for accuracy. You may want to print this page for your records. Note: some spaces in the recap table were left blank intentionally. Prepared June 8, 2011.

Filing Status: Single Someone else can claim you as a dependent: Yes
Number of jobs: 1 Number of dependents: 0
Will you be 65 or older 1/1/2012: No Are you blind: No
Child & dependent care credit qualifying persons: 0 Child & dependent care credit expenses:
Eligible children for child tax credit: 0
Other credits:
Total salary: 15,080 Total retirement plans: 0
Tax withheld to date: 0 Projected withholding for rest of year: 0
Total earned income other than salary: 0 Other nonwage income: 0
Adjustments to income: 0 Total itemized deductions: 0

Return to the IRS home page

Go to the IRS’s Forms and Publications page where you can find both downloadable and fill-in versions of Form W-4. Remember that you do not have to complete any of the worksheets that accompany the Form W-4. Simply use the information we gave you above to complete the Employee’s Withholding Allowance Certificate, which you can print out and give to your employer.

Page 5 of 5

http://www.irs.gov/app2/cgi-bin1/wh11.cgi/p5/en

Food Stamps

Eligibility Criteria:

In order to qualify for this benefit program, you must fall into one of two groups: (1) those with a current bank balance (savings and checking combined) under $2,001 who are responsible for a person or persons age 60 and under or (2) those with a current bank balance (savings and checking combined) under $3,001 who are responsible for a person or persons age 61 and over.

Eligibility Criteria (continued):

Those in group (1) and group (2) qualifiers must also have an annual household income of less than $11,677 if one person lives in the household; $15,757 if two people live in the household; $19,849 if three people live in the household; $23,929 if four people live in the household; $28,009 if five people live in the household; $32,089 if six people live in the household; $36,169 if seven people live in the household; or $40,249 if more than seven people live in the household.
Dependants
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Qualifying Children

To be claimed as a qualifying child, the person must meet four criteria:Relationship — the person must be your child, step child, adopted child, foster child, brother or sister, or a descendant of one of these (for example, a grandchild or nephew).

Residence — for more than half the year, the person must have the same residence as you do.

Age — the person must be

  • under age 19 at the end of the year, or
  • under age 24 and a be a full-time student for at least five months out of the year, or
  • any age and totally and permanently disabled.

Support — the person did not provide more than half of his or her own support during the year

http://taxes.about.com/od/dependents/a/Dependents_2.htm
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About SoundEndurance

I am a follower of The Way, holding to the doctrine of Jesus Christ the first born from among the dead, who lives and reigns forever more. Scripture is the basis of my beliefs which testify of the resurrection of Jesus Christ from the dead and confirmed in me by His Holy Spirit. The gift of eternal life is inclusive. Jesus shed his blood for all, He has purchased for each of us a resurrection from the dead unto judgment. His shed blood is our justice which satisfies our holy Creator blotting out our sins, making it possible for us to approach a holy, righteous God. In our approach to Him, we repent of our sin, we yield ourselves to His will, wanting to take on His very divine nature, desiring to be made new in His image and likeness thereby doing away with sin. It is through this faith in Him that we become children of God having received His Holy Spirit which does his commandments thereby entering eternal life and escaping the damnation of hell, the lake of fire to come. May we be blessed in the knowledge of Him. Kenneth S. Muratore Jr

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