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Tax Reform

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  • static111static111 Posts: 2,367
    Lol remember the debates going on about the 1400 because “rich” combined incomes of up to 150k might get a little help...this government is psychotic
  • mrussel1mrussel1 Posts: 20,765
    static111 said:
    Lol remember the debates going on about the 1400 because “rich” combined incomes of up to 150k might get a little help...this government is psychotic
    I don't understand this.  
  • mrussel1mrussel1 Posts: 20,765
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
  • JB16057JB16057 Posts: 210
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    I don't think we'll ever know the extent of the damage these PPP loans have done. I know they've helped quite a few businesses stay open as some people used these funds for their true purpose and they really did need them. I've talked to quite a few different businesses and have asked them if they took these PPP loans. Out of all them I've talked to, 90% of them did not need these loans and took advantage. Construction companies made out like bandits because they were never really shut down and by March of last year, they had a full year of scheduled work on the books already. They took these PPP loans and increased their own wealth. They didn't need to take these PPP loans to stay open. I don't know the situation with Pearl Jam but they took one of these loans as well. Did they really need that money? I don't know about their financial position but the band itself is worth millions so I doubt they really needed that money.

    The last guy I spoke with is starting a porta potty business which he already owns another succesful business. He told me that all of the equipment he bought was all paid for. He had spent somewhere around $36,000 without having to take a loan. He then told me that he took the PPP loans for his main business which allowed him to transfer money over to start this new porta potty business. I've heard other business people buying boats and cars with their PPP loans.

    Someone is going to have to pay for these free loans. I know it helped a ton of people but it makes me sick to think that so many people took this money and didn't really need it. Most won't have to pay back these loans because they were able to take advantage of the system.

    I own a business and I didn't take any of these loans because I didn't need them. My business took a huge hit but the business was able to survive and I'm too honest. "Don't get me wrong... if I qualified I would get it" is such an irresponsible way to think about this but this is the norm. If you truly needed it, I would understand but these programs are mostly helping the rich get richer and is just increasing the deficit.
  • mrussel1mrussel1 Posts: 20,765
    JB16057 said:
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    I don't think we'll ever know the extent of the damage these PPP loans have done. I know they've helped quite a few businesses stay open as some people used these funds for their true purpose and they really did need them. I've talked to quite a few different businesses and have asked them if they took these PPP loans. Out of all them I've talked to, 90% of them did not need these loans and took advantage. Construction companies made out like bandits because they were never really shut down and by March of last year, they had a full year of scheduled work on the books already. They took these PPP loans and increased their own wealth. They didn't need to take these PPP loans to stay open. I don't know the situation with Pearl Jam but they took one of these loans as well. Did they really need that money? I don't know about their financial position but the band itself is worth millions so I doubt they really needed that money.

    The last guy I spoke with is starting a porta potty business which he already owns another succesful business. He told me that all of the equipment he bought was all paid for. He had spent somewhere around $36,000 without having to take a loan. He then told me that he took the PPP loans for his main business which allowed him to transfer money over to start this new porta potty business. I've heard other business people buying boats and cars with their PPP loans.

    Someone is going to have to pay for these free loans. I know it helped a ton of people but it makes me sick to think that so many people took this money and didn't really need it. Most won't have to pay back these loans because they were able to take advantage of the system.

    I own a business and I didn't take any of these loans because I didn't need them. My business took a huge hit but the business was able to survive and I'm too honest. "Don't get me wrong... if I qualified I would get it" is such an irresponsible way to think about this but this is the norm. If you truly needed it, I would understand but these programs are mostly helping the rich get richer and is just increasing the deficit.
    I can give you some counter-anecdotal information.  My company has about 100 suppliers in our network.  They range from 10 to 300 employees.  We monitor their staffing levels weekly.  When COVID hit, almost all of them furloughed employees immediately.  However, by the early summer, almost all of them were back to full staff even though one of our core products was on hold due to COVID.  They only re-staffed because of PPP.  
    When PPP was passed, we didn't know how low the recession would be, how deep the cuts would be, etc.  We knew that the predictions for GDP loss would be -25% or more.  So I don't blame the gov't one bit for taking aggressive action.  While certainly some people took advantage of it because their company didn't need the money, plenty did.  Further, if a company furloughed, then they would go to unemployment anyway.  So it's just moving payments from one channel to another. 
    It's the same argument that people use to say "Welfare is abused, so it needs to be stopped!".  Well yes it's abused, but 90% of the people actually need it.  Who knows what the actual number is for PPP, and who knows how low the recession COULD have gone had the gov't done nothing.  
  • Gern BlanstenGern Blansten Your Mom'sPosts: 11,546
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    True....but him and his wife are the employees.  Goes right in his pocket.  As I said....I would do it too...but it's fucked up.
    Remember the Thomas Nine!! (10/02/2018)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley #1, Wrigley #2, Boston #1, Boston #2
    2020: Oakland1, Oakland2
  • Gern BlanstenGern Blansten Your Mom'sPosts: 11,546
    JB16057 said:
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    I don't think we'll ever know the extent of the damage these PPP loans have done. I know they've helped quite a few businesses stay open as some people used these funds for their true purpose and they really did need them. I've talked to quite a few different businesses and have asked them if they took these PPP loans. Out of all them I've talked to, 90% of them did not need these loans and took advantage. Construction companies made out like bandits because they were never really shut down and by March of last year, they had a full year of scheduled work on the books already. They took these PPP loans and increased their own wealth. They didn't need to take these PPP loans to stay open. I don't know the situation with Pearl Jam but they took one of these loans as well. Did they really need that money? I don't know about their financial position but the band itself is worth millions so I doubt they really needed that money.

    The last guy I spoke with is starting a porta potty business which he already owns another succesful business. He told me that all of the equipment he bought was all paid for. He had spent somewhere around $36,000 without having to take a loan. He then told me that he took the PPP loans for his main business which allowed him to transfer money over to start this new porta potty business. I've heard other business people buying boats and cars with their PPP loans.

    Someone is going to have to pay for these free loans. I know it helped a ton of people but it makes me sick to think that so many people took this money and didn't really need it. Most won't have to pay back these loans because they were able to take advantage of the system.

    I own a business and I didn't take any of these loans because I didn't need them. My business took a huge hit but the business was able to survive and I'm too honest. "Don't get me wrong... if I qualified I would get it" is such an irresponsible way to think about this but this is the norm. If you truly needed it, I would understand but these programs are mostly helping the rich get richer and is just increasing the deficit.
    Exactly....I have two different clients that each got about $600K in PPP money tax free.  One was a trucking company that really wasn't affected by Covid.  The other owns several businesses that weren't really affected.

    I got $55K.  Free fucking money.  I had my best year ever in 2020 without the PPP money.
    Remember the Thomas Nine!! (10/02/2018)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley #1, Wrigley #2, Boston #1, Boston #2
    2020: Oakland1, Oakland2
  • mrussel1mrussel1 Posts: 20,765
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    True....but him and his wife are the employees.  Goes right in his pocket.  As I said....I would do it too...but it's fucked up.
    Oh it's a two person company.. yeah that's a moral issue.  But at the end of the day, you don't make public policy or laws based on the exceptions.  The gov't would never do anything in that case. 
  • mrussel1mrussel1 Posts: 20,765
    JB16057 said:
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    I don't think we'll ever know the extent of the damage these PPP loans have done. I know they've helped quite a few businesses stay open as some people used these funds for their true purpose and they really did need them. I've talked to quite a few different businesses and have asked them if they took these PPP loans. Out of all them I've talked to, 90% of them did not need these loans and took advantage. Construction companies made out like bandits because they were never really shut down and by March of last year, they had a full year of scheduled work on the books already. They took these PPP loans and increased their own wealth. They didn't need to take these PPP loans to stay open. I don't know the situation with Pearl Jam but they took one of these loans as well. Did they really need that money? I don't know about their financial position but the band itself is worth millions so I doubt they really needed that money.

    The last guy I spoke with is starting a porta potty business which he already owns another succesful business. He told me that all of the equipment he bought was all paid for. He had spent somewhere around $36,000 without having to take a loan. He then told me that he took the PPP loans for his main business which allowed him to transfer money over to start this new porta potty business. I've heard other business people buying boats and cars with their PPP loans.

    Someone is going to have to pay for these free loans. I know it helped a ton of people but it makes me sick to think that so many people took this money and didn't really need it. Most won't have to pay back these loans because they were able to take advantage of the system.

    I own a business and I didn't take any of these loans because I didn't need them. My business took a huge hit but the business was able to survive and I'm too honest. "Don't get me wrong... if I qualified I would get it" is such an irresponsible way to think about this but this is the norm. If you truly needed it, I would understand but these programs are mostly helping the rich get richer and is just increasing the deficit.
    Exactly....I have two different clients that each got about $600K in PPP money tax free.  One was a trucking company that really wasn't affected by Covid.  The other owns several businesses that weren't really affected.

    I got $55K.  Free fucking money.  I had my best year ever in 2020 without the PPP money.
    But what you don't know is if you would have had the best year ever if NO company got PPP. How much of your great year is due to the other companies staying alive and generating business for you.  That's the unprovable and in my opinion, the fallacy of some of these arguments. 
  • static111static111 Posts: 2,367
    mrussel1 said:
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    True....but him and his wife are the employees.  Goes right in his pocket.  As I said....I would do it too...but it's fucked up.
    Oh it's a two person company.. yeah that's a moral issue.  But at the end of the day, you don't make public policy or laws based on the exceptions.  The gov't would never do anything in that case. 
    Which is why I brought up the hypocrisy of not wanting those rich 150,000aires based on 2019 taxes to get checks based on an exception.  When the amounts of the many scandalous PPP loans are much more and going to actual rich people.
  • mrussel1mrussel1 Posts: 20,765
    static111 said:
    mrussel1 said:
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    True....but him and his wife are the employees.  Goes right in his pocket.  As I said....I would do it too...but it's fucked up.
    Oh it's a two person company.. yeah that's a moral issue.  But at the end of the day, you don't make public policy or laws based on the exceptions.  The gov't would never do anything in that case. 
    Which is why I brought up the hypocrisy of not wanting those rich 150,000aires based on 2019 taxes to get checks based on an exception.  When the amounts of the many scandalous PPP loans are much more and going to actual rich people.
    I honestly don't know where the phase out should have been. I don't have access to the data, by region, that one would need to be smart about it.  150k in a city is jack shit.  150k in Pelham, AL is rich.  
  • Gern BlanstenGern Blansten Your Mom'sPosts: 11,546
    mrussel1 said:
    JB16057 said:
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    I don't think we'll ever know the extent of the damage these PPP loans have done. I know they've helped quite a few businesses stay open as some people used these funds for their true purpose and they really did need them. I've talked to quite a few different businesses and have asked them if they took these PPP loans. Out of all them I've talked to, 90% of them did not need these loans and took advantage. Construction companies made out like bandits because they were never really shut down and by March of last year, they had a full year of scheduled work on the books already. They took these PPP loans and increased their own wealth. They didn't need to take these PPP loans to stay open. I don't know the situation with Pearl Jam but they took one of these loans as well. Did they really need that money? I don't know about their financial position but the band itself is worth millions so I doubt they really needed that money.

    The last guy I spoke with is starting a porta potty business which he already owns another succesful business. He told me that all of the equipment he bought was all paid for. He had spent somewhere around $36,000 without having to take a loan. He then told me that he took the PPP loans for his main business which allowed him to transfer money over to start this new porta potty business. I've heard other business people buying boats and cars with their PPP loans.

    Someone is going to have to pay for these free loans. I know it helped a ton of people but it makes me sick to think that so many people took this money and didn't really need it. Most won't have to pay back these loans because they were able to take advantage of the system.

    I own a business and I didn't take any of these loans because I didn't need them. My business took a huge hit but the business was able to survive and I'm too honest. "Don't get me wrong... if I qualified I would get it" is such an irresponsible way to think about this but this is the norm. If you truly needed it, I would understand but these programs are mostly helping the rich get richer and is just increasing the deficit.
    Exactly....I have two different clients that each got about $600K in PPP money tax free.  One was a trucking company that really wasn't affected by Covid.  The other owns several businesses that weren't really affected.

    I got $55K.  Free fucking money.  I had my best year ever in 2020 without the PPP money.
    But what you don't know is if you would have had the best year ever if NO company got PPP. How much of your great year is due to the other companies staying alive and generating business for you.  That's the unprovable and in my opinion, the fallacy of some of these arguments. 
    Part of what I see relates to my location.  Our county didn't get hit as hard as a larger city.

    Again...I'm not necessarily criticizing it, I just struggle with some of the outcomes.
    Remember the Thomas Nine!! (10/02/2018)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley #1, Wrigley #2, Boston #1, Boston #2
    2020: Oakland1, Oakland2
  • tbergstbergs Posts: 7,777
    The PPP loans are quite the conflicting dilemma. I'm almost positive the 2 business around me used them so the owners could buy new vehicles. It was one of those head scratcher moments when I observed them both driving new vehicles late summer. I looked them both up and each took the loan. Nothing major, but enough to squeeze out some nice vehicles. Maybe I'm wrong, but I definitely feel it's been abused. I guess they infused the economy though. The poor are perpetually fucked it seems.
    It's a hopeless situation...
  • static111static111 Posts: 2,367
    mrussel1 said:
    static111 said:
    mrussel1 said:
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    True....but him and his wife are the employees.  Goes right in his pocket.  As I said....I would do it too...but it's fucked up.
    Oh it's a two person company.. yeah that's a moral issue.  But at the end of the day, you don't make public policy or laws based on the exceptions.  The gov't would never do anything in that case. 
    Which is why I brought up the hypocrisy of not wanting those rich 150,000aires based on 2019 taxes to get checks based on an exception.  When the amounts of the many scandalous PPP loans are much more and going to actual rich people.
    I honestly don't know where the phase out should have been. I don't have access to the data, by region, that one would need to be smart about it.  150k in a city is jack shit.  150k in Pelham, AL is rich.  
    That would make sense if PPP were a state program.  Since it and the stimulus checks are federal programs they have to go broad based, and last I checked for America as a whole 150k combined is in north way rich. Also making the case for a line for stimulus and not for PPP doesn’t make sense to me in the least.  If you can arbitrarily say that 150k in AL is rich you can arbitrarily say wealthy people shouldn’t  benefit from PPP and unless all of the loan goes to payroll you are at fault and will be penalized.  There was much more scrutiny going to those 1400 checks than there was to PPP as a whole
  • mrussel1mrussel1 Posts: 20,765
    static111 said:
    mrussel1 said:
    static111 said:
    mrussel1 said:
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    True....but him and his wife are the employees.  Goes right in his pocket.  As I said....I would do it too...but it's fucked up.
    Oh it's a two person company.. yeah that's a moral issue.  But at the end of the day, you don't make public policy or laws based on the exceptions.  The gov't would never do anything in that case. 
    Which is why I brought up the hypocrisy of not wanting those rich 150,000aires based on 2019 taxes to get checks based on an exception.  When the amounts of the many scandalous PPP loans are much more and going to actual rich people.
    I honestly don't know where the phase out should have been. I don't have access to the data, by region, that one would need to be smart about it.  150k in a city is jack shit.  150k in Pelham, AL is rich.  
    That would make sense if PPP were a state program.  Since it and the stimulus checks are federal programs they have to go broad based, and last I checked for America as a whole 150k combined is in north way rich. Also making the case for a line for stimulus and not for PPP doesn’t make sense to me in the least.  If you can arbitrarily say that 150k in AL is rich you can arbitrarily say wealthy people shouldn’t  benefit from PPP and unless all of the loan goes to payroll you are at fault and will be penalized.  There was much more scrutiny going to those 1400 checks than there was to PPP as a whole
    I didn't advocate for the phase out. I'm just saying I don't know the numbers.  I was against splitting hairs and for getting it out.  I believe we will have a fantastic GDP year and this will be a big reason why. 
  • static111static111 Posts: 2,367
    mrussel1 said:
    static111 said:
    mrussel1 said:
    static111 said:
    mrussel1 said:
    mrussel1 said:
    I had a client call me yesterday asking for help on the 2nd round of PPP loans.  He's got like $2mil in real estate and lives in a $2mil home and is applying for more free money.

    It doesn't make sense. 

    Don't get me wrong...if I qualified I would get it.  My beef is that it doesn't make sense to give more money to rich people for no fucking reason.
    I don't get this either.  He doesn't qualify for ppp, it's his business right? Those loans are not about the personal wealth of its owners,  it was about keeping people employed. 
    True....but him and his wife are the employees.  Goes right in his pocket.  As I said....I would do it too...but it's fucked up.
    Oh it's a two person company.. yeah that's a moral issue.  But at the end of the day, you don't make public policy or laws based on the exceptions.  The gov't would never do anything in that case. 
    Which is why I brought up the hypocrisy of not wanting those rich 150,000aires based on 2019 taxes to get checks based on an exception.  When the amounts of the many scandalous PPP loans are much more and going to actual rich people.
    I honestly don't know where the phase out should have been. I don't have access to the data, by region, that one would need to be smart about it.  150k in a city is jack shit.  150k in Pelham, AL is rich.  
    That would make sense if PPP were a state program.  Since it and the stimulus checks are federal programs they have to go broad based, and last I checked for America as a whole 150k combined is in north way rich. Also making the case for a line for stimulus and not for PPP doesn’t make sense to me in the least.  If you can arbitrarily say that 150k in AL is rich you can arbitrarily say wealthy people shouldn’t  benefit from PPP and unless all of the loan goes to payroll you are at fault and will be penalized.  There was much more scrutiny going to those 1400 checks than there was to PPP as a whole
    I didn't advocate for the phase out. I'm just saying I don't know the numbers.  I was against splitting hairs and for getting it out.  I believe we will have a fantastic GDP year and this will be a big reason why. 
    I didn’t mean you, I meant “you” as in the people that were splitting hairs
  • tempo_n_groovetempo_n_groove Posts: 26,278
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
  • mrussel1mrussel1 Posts: 20,765
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    My taxes went up substantially since the 2017 tax 'cut'.
  • static111static111 Posts: 2,367
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    I’ve paid more in taxes every year since the “tax cut” 
  • mickeyratmickeyrat Posts: 20,576
    should have my back taxes paid off this year from 18 and 19

    now claiming single 0 plus an extra 50 wk.

    we got hurt by the change in transportation per diem and the unreimbursed expenses deductions. I drive , she works from home full time. as well as the tax withholding change...
    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • Gern BlanstenGern Blansten Your Mom'sPosts: 11,546
    tbergs said:
    The PPP loans are quite the conflicting dilemma. I'm almost positive the 2 business around me used them so the owners could buy new vehicles. It was one of those head scratcher moments when I observed them both driving new vehicles late summer. I looked them both up and each took the loan. Nothing major, but enough to squeeze out some nice vehicles. Maybe I'm wrong, but I definitely feel it's been abused. I guess they infused the economy though. The poor are perpetually fucked it seems.
    I'm getting a pool.

    Definitely great for GDP.  
    Remember the Thomas Nine!! (10/02/2018)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley #1, Wrigley #2, Boston #1, Boston #2
    2020: Oakland1, Oakland2
  • tempo_n_groovetempo_n_groove Posts: 26,278
    mrussel1 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    My taxes went up substantially since the 2017 tax 'cut'.
    static111 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    I’ve paid more in taxes every year since the “tax cut” 
    I paid the same amount of taxes as last year, made more than the previous year but my return was a third from the previous year.

    Interesting that both of you paid more?
  • mrussel1mrussel1 Posts: 20,765
    mrussel1 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    My taxes went up substantially since the 2017 tax 'cut'.
    static111 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    I’ve paid more in taxes every year since the “tax cut” 
    I paid the same amount of taxes as last year, made more than the previous year but my return was a third from the previous year.

    Interesting that both of you paid more?
    The lose of deductions,  particularly SALT, along with AMT relief all conspired to increase my effective tax rate by about 4% points.  
  • tempo_n_groovetempo_n_groove Posts: 26,278
    mrussel1 said:
    mrussel1 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    My taxes went up substantially since the 2017 tax 'cut'.
    static111 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    I’ve paid more in taxes every year since the “tax cut” 
    I paid the same amount of taxes as last year, made more than the previous year but my return was a third from the previous year.

    Interesting that both of you paid more?
    The lose of deductions,  particularly SALT, along with AMT relief all conspired to increase my effective tax rate by about 4% points.  
    You must live in a high property taxed area then?
  • mrussel1mrussel1 Posts: 20,765
    edited March 30
    mrussel1 said:
    mrussel1 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    My taxes went up substantially since the 2017 tax 'cut'.
    static111 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    I’ve paid more in taxes every year since the “tax cut” 
    I paid the same amount of taxes as last year, made more than the previous year but my return was a third from the previous year.

    Interesting that both of you paid more?
    The lose of deductions,  particularly SALT, along with AMT relief all conspired to increase my effective tax rate by about 4% points.  
    You must live in a high property taxed area then?
    No, not particularly.  Virginia is pretty moderate, but we have state income and personal property taxes, so it adds up.  I think the lack of AMT relief hurt. 
  • tempo_n_groovetempo_n_groove Posts: 26,278
    mrussel1 said:
    mrussel1 said:
    mrussel1 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    My taxes went up substantially since the 2017 tax 'cut'.
    static111 said:
    Anybody do their taxes yet?  I made more but my return was a third from last year.  That was the Trump tax plan I guess?
    I’ve paid more in taxes every year since the “tax cut” 
    I paid the same amount of taxes as last year, made more than the previous year but my return was a third from the previous year.

    Interesting that both of you paid more?
    The lose of deductions,  particularly SALT, along with AMT relief all conspired to increase my effective tax rate by about 4% points.  
    You must live in a high property taxed area then?
    No, not particularly.  Virginia is pretty moderate, but we have state income and personal property taxes, so it adds up.  I think the lack of AMT relief hurt. 
    We have the same here in NY but we are only allowed to write off the 10K now for property tax.  I'm trying to figure out how besides deductions, like in NY where property tax has a cap.
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