You all should read up on this. The con man conned the US.
https://www.nytimes.com/2019/01/01/...kxg0doioyxmg-EPfCTOOEQECh4LEAGIGooi6jebQ3bFZQ
https://www.nytimes.com/2019/01/01/...kxg0doioyxmg-EPfCTOOEQECh4LEAGIGooi6jebQ3bFZQ
The "Tax Cuts"
- Thread starter countryroads89_rivals
- Start date
Good to see you have accepted that there were tax cuts. Mine was worth well over 1k bucks.
1. The rates have been published. You dont need to file a return to know what taxes you owe and what you paid. Moron.
2. My company put 3 million from tax cuts into our bonus pool and while our normal bonus calcs suggeat I get the same bonus as last year I received over 1k more in my bonus.
Anything else?
We all got tax cuts and not a damn one of them on the Left sent back one penny of whatever there's was. Why they're complaining about something that they kept for themselves just goes to show you what derangement on the Left means.
Do you try to go for 0 return? I tried and screwed uo and ended up with a small federal refund and I owed the state like 800 and they penalized me for not paying enough during the year (I am not really sure what that was about). So i said screw it and now I have them take more out of payroll and I get a return on both.
Exactly. I want to file my returns with zero refund and zero owed. The state should be much easier to accomplish that. In fact my 2017 I owed $5 and my 2018 is a $1 refund (which the bastards won't direct deposit). There are more moving pieces on the fed side. It's a stupid goal, but it's a goal nonetheless.
Not directly responding to you Dave
I try for as close to zero as possible but it is impossible with mutual funds cap gain distributions. And this year, I have no clue how the major changes is going to affect what I'll end up paying. And I consider myself more educated on the subject except for Coop on this forum. It simply baffles me how some on here know for certain how their taxes are going to shake out unless they are single and do a 1040EZ return.
Stupid goals aren't bad. I have a truck that I bought in 1996. If I still own it in the fall of 2021, I will have owned it for over half my life. Your goal sounds much less stupid than mine.
Ain't that the truth....
You'd hate me as a client then... I'm mister last minute (fuc#ers ain't gettin' my money until the last minute). :sunglasses:
Me too. Most years, I've been pretty good. I'm very interested how well I'm guessing this year but with the changes in the code along with some other family changes, I have no clue.
Its not too hard to figure out if you are married filing jointly as long as your deductions are pretty common and unlike your situation if your income has a lit of variables.
In our situation our income is pretty straightforward and most of my investment income is 1099.
All investment income is reported on various 1099. Problem is not knowing what various fund managers are doing through the year which results in a large discrepancy on how much is distributed to account holders at the end of December. If one doesn't have much wealth in these type of investments, yes it is much easier to estimate. I'll agree with you on that.
Biggest change I have to better understand is going from itemizing my deductions to the standard $24k this year and losing my exemptions and how that is incorporated into the tax tables.
I take a shoe box in & a pint of black bush & just let it happen...i normally owe the state & get back fed , file single & zero....i over paid the state (WV) last year & they just kept the money, just found the letter yesterday & asked about & they said was just going to add it to 2018 ...wtf is that about
I admit I dont know how this affects me but I am assuming in our case it is a plus because my property and personal property taxes plus my mortgage interest which are my two significant itemizations are well under 24k so I am assuming I will have a bigger deduction this year than ever before.
Yes, you are correct. My biggest challenge is going from 6 exemptions to that not even part of the calculation any longer. I firmly believe those with large families are going to be in a world of hurt with this change.
Apparently you didnt read his whole post, or the entire thread...or the other option is you simply chose to misquote bru and every other comment in the thread just because your pathetic ignorant *** needed to try to respond to me.
Did you read the post that said the only change is marginal rates?
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I did not make any comment in this thread aimed at Dave or anyone else. I do find it amazing some people know exactly how much they will benefit due to this tax law but I do agree it is very possible for many to guesstimate an effect.
Regardless, I'm against this change in tax law but elections have consequences and this is one. Honest dialogue is the only thing I'm interested in.
Regardless, I'm against this change in tax law but elections have consequences and this is one. Honest dialogue is the only thing I'm interested in.
The biggest reason I know it benefitted me was because my company is employee owned and the books are open and I know how much the tax cut benefitted the bottom line and how much of that money went back to the employees.
Your deduction goes up, but you lose your exemptions. Let's use a married couple, no kids. In 2017 they itemized for $16,500 and also had personal exemptions of $8100. In that case they got to reduce taxable income by $24,600. In 2018, those people get to reduce tax able income by $24,000. Now marginal rates are lower, so they do see a small refund. I don't mean this as political, but middle class workers get a total run around stiff job on that tax reform.
And don't even look at W2 employees that used to be able to write of work expenses, ie - mileage.
Meh. Depends on age of kids. You now get tax credits instead of reducing income. It's a huge shell game.
Did you request any refund to be applied to 2018? Do you have a copy of your tax return? If you didn't request it be applied, call them up and demand your refund plus interest.
I did not have a reguest put in. I asked the guy about interest & & he just smiled , said check would be out in a couple weeks
In that position, who hasn't conned the American people.....Every year, every decade, same results. It doesn't matter
Starts at $400k. If you're making that much, you are more than making up for it with the rate decreases.