Law School Discussion

How do I cancel the LSAT?

Re: How do I cancel the LSAT?
« Reply #30 on: August 31, 2004, 10:00:14 PM »
So now you've got twice as much... you're welcome.

TDPookie1

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Re: How do I cancel the LSAT?
« Reply #31 on: September 01, 2004, 12:03:13 AM »
Woohoo, congrats, Noell!  That's at least, what, 1/6th of the way to paying for the LSAT?  Your $215 goal includes LSDAS, I take it?

Maybe you can start a new thread to ask for donations?  Do you want me to start one, so you're not the one asking?

Matthew_24_24

Re: How do I cancel the LSAT?
« Reply #32 on: September 01, 2004, 03:47:47 AM »
I tried to send $5 but it is rejecting my cdn credit card :P

I'll throw some money on it this week maybe im maxxed.

Matt

Matthew_24_24

Re: How do I cancel the LSAT?
« Reply #33 on: September 01, 2004, 03:48:56 AM »
Write in december if you have to.  We'll get you the money :)

Matt

TyroneShoelaces

Re: How do I cancel the LSAT?
« Reply #34 on: September 01, 2004, 07:39:51 PM »
Just so you know tips aren't legally tax free.  I suppose you could just not report it, and hope you don't get audited. Employees in food service tend to have higher risk of audits though. If I remember correctly (can't find my IRC book) the IRS assumes that you earn at least a tip of 8-10% of the gross receipts whether your actually do or not. The IRS requires you to keep a daily log of tips received minus what is shared with other employees (form 4070). Also with more people using credit cards to pay at restaurants these days, there is more verifiable proof of tips received. The IRS uses a complex formula to determine who gets audited.  Certain things set it off like too high of deductions for your income level, unusually low income, certain industries, etc. 

I agree with londongirl's suggestion of picking up an extra job, at least for a few months.  If you can't pay for the LSAT, how will you pay for applications?  So even if you find a quick and easy way to pay for the LSAT (e.g., by selling something), you'll still need money for law school apps.  A weekend waitressing job might not be too bad, because at least you make tips, and that's tax free :)

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Re: How do I cancel the LSAT?
« Reply #35 on: September 01, 2004, 10:51:32 PM »
Just so you know tips aren't legally tax free.  I suppose you could just not report it, and hope you don't get audited. Employees in food service tend to have higher risk of audits though. If I remember correctly (can't find my IRC book) the IRS assumes that you earn at least a tip of 8-10% of the gross receipts whether your actually do or not. The IRS requires you to keep a daily log of tips received minus what is shared with other employees (form 4070). Also with more people using credit cards to pay at restaurants these days, there is more verifiable proof of tips received. The IRS uses a complex formula to determine who gets audited.  Certain things set it off like too high of deductions for your income level, unusually low income, certain industries, etc. 

I agree with londongirl's suggestion of picking up an extra job, at least for a few months.  If you can't pay for the LSAT, how will you pay for applications?  So even if you find a quick and easy way to pay for the LSAT (e.g., by selling something), you'll still need money for law school apps.  A weekend waitressing job might not be too bad, because at least you make tips, and that's tax free :)

I knew that, but hell if I would report my tips :)  I waitressed P/T when I was in HS, so I guess they were never going to audit me anyway.  I didn't realize food service gets audited so frequently.  Good to know.  Thanks!

swifty

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Re: How do I cancel the LSAT?
« Reply #36 on: September 03, 2004, 02:24:34 AM »
Pookie,

If you still have your tax records from that year (like who does) I'll almost guarantee you that you have a % of sales on your W-2 that are actually tips.  You are just legally required to "report your tips" because if you receive more than 8-10% (I don't remember the IRS threshold anymore) you are technically required to report them to your employer. 
Lot's of restaurants resent this policy, as do servers of course, but if the outfit is legit, you are paying taxes on some tips, even if you don't report your actual tips.  If you go to a 5 star restaurant where tips can exceed 25%, all that crap is handled by computers, a totally automated process, even cash tips.  When I used to do taxes, I hated telling all these beautiful women the bad news.  I think the law sucks, but people were making over 500 bucks a night in tips, so I understand why something had to be done.  There should be a minimun amount of tips that won't be taxed to save those from the rare few who get rich on tips. 

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Re: How do I cancel the LSAT?
« Reply #37 on: September 03, 2004, 09:22:04 AM »
Pookie,

If you still have your tax records from that year (like who does) I'll almost guarantee you that you have a % of sales on your W-2 that are actually tips.  You are just legally required to "report your tips" because if you receive more than 8-10% (I don't remember the IRS threshold anymore) you are technically required to report them to your employer. 
Lot's of restaurants resent this policy, as do servers of course, but if the outfit is legit, you are paying taxes on some tips, even if you don't report your actual tips.  If you go to a 5 star restaurant where tips can exceed 25%, all that crap is handled by computers, a totally automated process, even cash tips.  When I used to do taxes, I hated telling all these beautiful women the bad news.  I think the law sucks, but people were making over 500 bucks a night in tips, so I understand why something had to be done.  There should be a minimun amount of tips that won't be taxed to save those from the rare few who get rich on tips. 

I do still have my W-2, actually!  :)  I just don't know where, other than at my parents' house.  I remember looking at it when I got it because it says "Wages, tips, whatever else," and I'm absolutely positive that tips weren't included in there.  But it's not like I made that much anyway.  It wasn't that expensive of a restaurant ($10-$15 entrees), and it didn't get very busy on weekdays.  On Fridays and Saturdays, it was almost always packed.  I don't remember how much I made those nights, but it was nowhere near $500.  Not even $100.  We all shared tips, so all tips went into this little jar until the end of the night, then it got split between waiters/waitresses and the assistants (who seated guests, gave them menus, brought bread, helped clean, etc.), and there was one waiter who the rest of us thought was taking more than his share out of the jar  :-\

swifty

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Re: How do I cancel the LSAT?
« Reply #38 on: September 03, 2004, 07:50:43 PM »
Ooooooooooo, I got one of those!  But, uh, no money... LOL

We were at a gas station this weekend, and these two black/African-American boys came over and made this little spiel (sp?) about how they're selling candy as a fundraiser for their basketball team and something about UNLV, yada yada, and we felt bad, so we bought this mini Butterfinger 10-pack for $5.  I swear that thing is like $1 in stores.  So maybe you can buy candy and then sell it at a huge markup?  Ha ha.

Why did you specify the race of these two kids? IF they were white, would you have not mentioned their ethnicity?  Or because of the relationship of African Americans to
Basketball?  Yes, whites are a minority in that sport, and most sports for that matter. 

swifty

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Re: How do I cancel the LSAT?
« Reply #39 on: September 03, 2004, 07:52:50 PM »
wow, crazy stuff...well, I ain't no 'Karyn', but here it goes:

http://www.geocities.com/caribouranch/LSAT/

I doubt I would get anything out of this, but it was sure funny to set that up.  LOL!

 ;D

It took you less than an hour to set the site up.  Something smells fishy.