I’m not american but we also have yearly tax here and if I’m ever audited I’m FUCKED. I don’t have a singe document saved. But also I’m super poor so id think they want me
This whole yearly tax thing seems like so much unnecessary work to me. Here in the UK we have a “pay as you earn” system. Taxes get deducted from your wage automatically every time you get paid and it’s all recorded. No extra steps needed. You only need to do extra reporting if you have significant income from other sources e.g. owning a business and getting dividends.
I doubt there’s a country that doesn’t take deductions for tax on every paycheque. And it’s usually slightly more than you end up owing at the end of the year so they get to use it for half a year.
Doing taxes is basically to get that back, especially if you take advantage of things like retirement savings plans outside of work, or charitable donations that get written off.
I’m not american but we also have yearly tax here and if I’m ever audited I’m FUCKED. I don’t have a singe document saved. But also I’m super poor so id think they want me
This whole yearly tax thing seems like so much unnecessary work to me. Here in the UK we have a “pay as you earn” system. Taxes get deducted from your wage automatically every time you get paid and it’s all recorded. No extra steps needed. You only need to do extra reporting if you have significant income from other sources e.g. owning a business and getting dividends.
oh, it’s not either/or, we have both. SO FUN!
I doubt there’s a country that doesn’t take deductions for tax on every paycheque. And it’s usually slightly more than you end up owing at the end of the year so they get to use it for half a year.
Doing taxes is basically to get that back, especially if you take advantage of things like retirement savings plans outside of work, or charitable donations that get written off.