tax day, 2080

*** Disclaimer: This post will very likely reveal what an absolute math nerd/control freak I am. I was an accounting major for two years in college, so be prepared, lol! ***
Tax Day, an Easier Way:

I've tried the whole Sim-economy thing before, where you charge your Sims taxes, and set up a town budget for everything. I always gave up because it took so long to load each household, and get the money to the right person. It was hardly fun, and fun is the point of playing a game, you know? ;)

Maybe everyone else has already figured this out, but why not use teleportation??? :)
First, over a few play sessions before tax day, I made note of each household's net worth, from the neighborhood view. This is pretty quickly done, and the net worth includes property value and the cash bank balance. (I'm doing property tax, but if you're doing income taxes, you can skip this step.)

You will need: Monique's computer, Mind control mirror, Inge teleporter, (mortgage/loan shrubs optional). All links are in the sidebar.

First I set up Madison with a little home office to operate from. All of the household funds in the Governor's estate are public funds and will be used for community projects - Madison and Bryson have to keep all of their personal money in bank accounts for the entire period they live in the Governor's estate.

Once her office is set up, tax day begins!

This year, they are paying 20% of their net property worth, cash balance, and any investment balances. Then they are allowed a $1500 credit for married couples, and $1000 for each eligible dependent. Once they are teleported into the office, they can either make a withdrawl from their bank account, or if they don't have money in a bank account, Madison will place mortgage shrubs of the proper amount in their inventory to take home with them. I use the mortgage shrubs rather than the loans from Monique's computer because the computer charges much higher interest, though the computer loans are another valid way to go if you prefer.

1.) Teleport in the heads of household - I bring in both heads of household to check their bank balances (no need to bring in children, since their bank balances can't be taxed). Use the mirror to make them selectable - check their income if you're doing income tax, check their bank balances if you're doing property tax. I do property tax because too many of my Sims earn income through business, and it would be too hard to track.

Madison is doing 20% this term, and Abigail looks disappointed! Well, they have a lot of money, and no dependents to claim. That's a fat $11,916 for them. Abigail pays by withdrawing the money directly from her bank account into the the County's funds.

After she's paid, I use the teleporter to clear off all non-residents. We don't want too many Sims hanging around and clogging up our lot.
They don't really have to sit down, this is just for show ;) In fact, it moves more quickly if only the person paying sits down at the computer. Or if they're just taking home mortgage shrubs, you don't even need to unpause the game.

2.) Jeremy Nova is short $2000 after taking $8000 out of his bank account, so I plop down $2000 worth of mortgage shrubs on the floor - the money goes into the County funds, and I put the shrubs in Jeremy's inventory so that they'll be there for him to pay back when he gets home. He can pay them back immediately for no interest, or pay in installments for interest.

Most of my Sims don't have enough extra to keep in bank accounts, and end up taking home mortgage shrubs to pay off.

3.) Business owners (like Sophie Phoenix, who owns a catering business) don't pay tax on any money invested into their business - that money is considered community enrichment and is encouraged. But they do pay on any profits held in their cash bank balance, or brought home with them - this money will automatically show up in their household net worth.

As well, money set aside in children's bank accounts for college and/or trust funds is not taxed until they turn eighteen (or twenty-three, if they're in college). Sophie and Micah have $4500 in exemptions - $1500 for filing jointly, and $1000 for each eligible dependent, which now includes Hayden, Summer, and Ryanne. Anyone being supported by the heads of household counts as a dependent. Animals don't count, lol. College students count until they graduate.

Some taxpayers hang around and chat for a while. Madison has been friends with Sophie and Micah since high school.

4.) Phoenix and Brooke McCullough have so little money (living on teacher and artist salaries!) and so many children that they actually get a small tax credit! Phoenix deposits $1700 into his bank account. That'll help with that grocery bill!

5.) Qualified home businesses, like the Watt's Family Farm, or the Hathe family's Bluewater Animal Shelter are only taxed on half of their lot's value (that's only the lot value, not counting family's cash balance - this is found under build mode, in the top left corner).

6.) Couples living together, but not married, don't get to take the marriage credit. Apartment dwellers are only taxed on their household funds and bank investments. Non-married couples who own property together (like Adrian Jackson and Aurora Miguel) are treated as a common-law marriage, and can take the credit.

LOL @ Cameron, looking like he wants to eat Madison alive! Bella is thinking, what the hell is he looking at??? I think Madison is thinking the same thing!

7.) In total, Madison collects $154,184 from Lake County's 94 playable Sims. But that's not all... because those 94 represent only 1/8 of Lake County's total resident population (including all the NPC's and townies that live in the area) she also gets to collect another $1,079,288!!! Because townies use those community lots too! Whoa, that's a huge budget! But it has to last four years, and any community projects must be spent using that money! I use the familyfunds cheat to add this amount to the County funds.

(I don't think I will make her own each of those public lots - because that would mean having to actually play each one of those lots as a business, and I have no interest in doing that. But I will track how much money is spent improving those lots, and it will be deducted from the County funds.)

8.) Then Madison teleports in Meadow Lind (allocated 20% for schools) and Berjes Monif (allocated 10% for health services), and they take their share of the total tax money. It's getting towards evening at this point, and tempers are running cranky.

Overall, the process goes smoothy, and is fairly simple. It took much less time than if I would have loaded twenty-something different households!

Bryson had to pay the most, lol! A hefty $37,000!!!

He says, "Way too much, Madison. Way too much!"

She already knows it was way too much. She got the same complaint from her brother Andy - he and Claire could have bought a vacation home with the $9900 they paid! She hopes people aren't too mad about it. If she's elected a second term, she'll definitely lower taxes! But then, they always promise that, don't they?

She says, "I'm new at this. I'm learning."

Bryson is a business man, and very serious about his bank balances. He says, "It's not a learn-on-the-job kind of thing."

If you're curious...

Lake County's Highest Net Worths:
1.) Bryson and Madison Riley ($245,000)2.) Cabe and Ashlee Deppiesse ($89,058)
3.) Matthew and Leila Watts ($85,324)
4.) Talin and Abigail Collins ($62,081)
5.) Jeremy and Alice Nova ($57,385)

No need to list the poorest, because that would just be rude, lol :)

I'm interested to see what the highest business net worths will be too, and I'll edit them in here next time I play. Of course, top will be the Riley Estates Company and its dozen-or-so properties, lol. But otherwise, I bet it will be most of the same people, the Watts' farm, Ashlee Deppiesse's restaurant, and maybe also the Jackson family's arcade, or Jolie, Jolie?

Misc:
- most families paid between $1000 and $2000.
- 54% of the tax revenue came from residents of Lakeside Heights, 39% from Lake City, and 7% from Bluewater Township.
- the next round of taxes will be due April of 2084.

*** ETA ***

Current tax rates and payment schedules are always being updated, and the most current information can be found on the Lake County Public Pages.