Posted: 12/13/2010 12:25:28 PM EDT
| This may not be the best place to ask but it's a starting point. I am retired from the USCG and have another job. I telecommute for a company from the East Coast. I am 43, married and have 2 kids. I am being raped for taxes. I guess because I am retired and working another job they see me as being able to pay more taxes. I pay more than 1,000 a month in income tax. I really wonder why I am working. They pretty much take back my retirement each month and at the end of the year. Any of retired guys deal with this? Can anyone recommend a good tax accountant in Lawton? |
Retired military and still working also. 50 with no kids at home. I pay right around $1300 a month in federal income tax alone. I'm usually raped at the end of the year for around $1000 more.
Now shut up and get back to work  Millions on welfare are depending on you/us
I feel your pain brother 
I also seriously disagree with Oklahoma hitting my retired military pay for state taxes. I didn't earn it here (for the most part) 
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Try the OSCPA's website here: Oklahoma Society of CPA's
There's a tabyou can search for a local CPA. Some will also do a free first meeting as part of a Society program. One of the things that sucks in this state is you will most definately get raped for taxes. If you earn any money, and live in the state for any length of time, the state is going to take a fraction of what you earn based on the amount of time you lived in the state. The taxing of your retirement is more than likely caused by the amount you earn telecommuting. Once you hit a certain dollar amount, they start to tax the hell out of all your pay. The only way to lower your tax bill is to lower your income. If you start a business, like growing pecans on a farm, you can deduct those expenses. You'll be able to depreciate the equipment, the truck necessary to view your crop, etc. The land however, isn't going to be an expense. A good local CPA should be able to look at your TOTAL financial picture and give you some good ideas on your options. You may want to look into one that does alot of financial and estate planning. Good luck to ya. |