Tax Reform

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  • mickeyrat
    mickeyrat Posts: 44,530
    got fucked. partly to blame myself.

    my pay increases annually. work for a good company. so its more difficult for me to figure between years. in fact for 2017 I received 2 raises.

    having said that, when I filed last year my preparer suggested I claim 0 in withholding exemptions AND at the single rate, meaning the max withheld without asking for more on top. I didnt. so my withholdings remaining a static % I didnt see an observable increase in my net after the law kicked in.

    jointly my wife and I owe about 6300.

    we both lost out on non-reimbursed expenses. hers primarily in home office deductions(she works from home full time) and I lost transportation workers per diem deduction. given our joint tax bracket we didnt see shit through the year.
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  • mrussel1
    mrussel1 Posts: 30,883
    mickeyrat said:
    got fucked. partly to blame myself.

    my pay increases annually. work for a good company. so its more difficult for me to figure between years. in fact for 2017 I received 2 raises.

    having said that, when I filed last year my preparer suggested I claim 0 in withholding exemptions AND at the single rate, meaning the max withheld without asking for more on top. I didnt. so my withholdings remaining a static % I didnt see an observable increase in my net after the law kicked in.

    jointly my wife and I owe about 6300.

    we both lost out on non-reimbursed expenses. hers primarily in home office deductions(she works from home full time) and I lost transportation workers per diem deduction. given our joint tax bracket we didnt see shit through the year.
    My taxes increased by 7 percentage points,  so call it... 20%, due to the lost deductions.  That's a pretty big change.  
  • CM189191
    CM189191 Posts: 6,927
    same here with the deductions.  I work from home and wife is self-employed.  

    Oh well, I'm sure it will trickle down back to me any day now.
  • mickeyrat
    mickeyrat Posts: 44,530
    CM189191 said:
    same here with the deductions.  I work from home and wife is self-employed.  

    Oh well, I'm sure it will trickle down back to me any day now.
    easier for your wife being self-employed to claim.
    _____________________________________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
  • CM189191
    CM189191 Posts: 6,927
    mickeyrat said:
    CM189191 said:
    same here with the deductions.  I work from home and wife is self-employed.  

    Oh well, I'm sure it will trickle down back to me any day now.
    easier for your wife being self-employed to claim.
    ... You would think so....

    The math did not work out in our favor tho
  • F Me In The Brain
    F Me In The Brain this knows everybody from other commets Posts: 31,822
    Net $15,000 loss for this family.

    Fuck off Trump, you fucking cunt.
    The love he receives is the love that is saved
  • CM189191
    CM189191 Posts: 6,927
    F Me In The Brain said:
    Net $15,000 loss for this family.

    Fuck off Trump, you fucking cunt.
    Ouch
  • CM189191
    CM189191 Posts: 6,927

  • benjs
    benjs Toronto, ON Posts: 9,381
    CM189191 said:

    Robert Reich's another guy I wouldn't mind if ran for office.
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  • bootlegger10
    bootlegger10 Posts: 16,258

    But all their employees paid taxes.

  • CM189191
    CM189191 Posts: 6,927
    bootlegger10 said:

    But all their employees paid taxes.

    Did they?  All of them?

    And so what if they did? Are you suggesting there should be no corporate taxes for employers at all?
  • tbergs
    tbergs Posts: 10,415
    CM189191 said:
    bootlegger10 said:

    But all their employees paid taxes.

    Did they?  All of them?

    And so what if they did? Are you suggesting there should be no corporate taxes for employers at all?
    I think he may have actually been pointing out the irony of the fact that the multi-billion dollar companies paid zero, but their employees paid. I could be wrong...
    It's a hopeless situation...
  • mcgruff10
    mcgruff10 New Jersey Posts: 29,130
    F Me In The Brain said:
    Net $15,000 loss for this family.

    Fuck off Trump, you fucking cunt.
    Fuck. Sorry bud. 
    I'll ride the wave where it takes me......
  • F Me In The Brain
    F Me In The Brain this knows everybody from other commets Posts: 31,822
    mcgruff10 said:
    F Me In The Brain said:
    Net $15,000 loss for this family.

    Fuck off Trump, you fucking cunt.
    Fuck. Sorry bud. 
    Need to go through the work of starting a business and find 10-15k to run through it to get back the write offs. 

    I have it much better than many and paying a lot means you do OK for yourself, overall, so there is that to be thankful for.
    A bit of a kick in the balls, nonetheless.


    The love he receives is the love that is saved
  • CM189191
    CM189191 Posts: 6,927
    tbergs said:
    CM189191 said:
    bootlegger10 said:

    But all their employees paid taxes.

    Did they?  All of them?

    And so what if they did? Are you suggesting there should be no corporate taxes for employers at all?
    I think he may have actually been pointing out the irony of the fact that the multi-billion dollar companies paid zero, but their employees paid. I could be wrong...
    I get where he was going, but....

    More than 44% of Americans pay no federal income tax

    https://www.marketwatch.com/amp/story/guid/8420B192-419B-11E8-BC0F-78BBBBAE6CDC
  • F Me In The Brain
    F Me In The Brain this knows everybody from other commets Posts: 31,822
    CM189191 said:
    tbergs said:
    CM189191 said:
    bootlegger10 said:

    But all their employees paid taxes.

    Did they?  All of them?

    And so what if they did? Are you suggesting there should be no corporate taxes for employers at all?
    I think he may have actually been pointing out the irony of the fact that the multi-billion dollar companies paid zero, but their employees paid. I could be wrong...
    I get where he was going, but....

    More than 44% of Americans pay no federal income tax

    https://www.marketwatch.com/amp/story/guid/8420B192-419B-11E8-BC0F-78BBBBAE6CDC
    Misleading, I believe.  The quote there is about people not having to pony up more at the end of the year.  Unless I misread....

    “The large percentage of people who don’t owe federal income tax is a feature, not a bug, of the revenue code,” according to the Tax Policy Center. “By design, the federal income tax always has excluded a significant fraction of households through a combination of personal exemptions, the standard deduction, zero bracket amounts, and more recently, tax credits.”

    I don't owe, I get a check back.  And, fucking A right I should -- but it is far less than I received back in the past.  Anyone who tells me I don't pay any federal income tax is nuts.  I pay a shit-ton -- I just don't owe more at the balance of the year because more than enough was taken out from my paychecks.  Being in Sales and getting periodic large commission checks totally fucks me.  Used to make up for it at the end of the year but now it seems that DJ-Talky-Talk and his new plan are happy keeping the extra to spend on $1,000 fucking toilet seats.



    The love he receives is the love that is saved
  • Gern Blansten
    Gern Blansten Mar-A-Lago Posts: 22,250
    It was all smoke and mirrors.  The GOP wanted to get your net pay up before the election so that you would think they cut your taxes.  Turns out it was a money grab for the rich and very little for anyone else.

    Refunds dropped because withholdings dropped. In my opinion that isn't necessarily a bad thing but when the GOP sold it like they did it fucking sucks.
    Remember the Thomas Nine !! (10/02/2018)
    The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)

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  • curmudgeoness
    curmudgeoness Brigadoon, foodie capital Posts: 4,130
    I'm still waiting to hear who the "rich" were who got a break. We're solidly in the 1% and speaking as the person who does our taxes, our tax burden went up last year. I imagine it would have been a different story had we lived in Texas instead of California, but, still.
    All those who seek to destroy the liberties of a democratic nation ought to know that war is the surest and shortest means to accomplish it.
  • Gern Blansten
    Gern Blansten Mar-A-Lago Posts: 22,250
    Did your income go up?   Hard to say why your taxes would have gone up unless you were one of the unlucky ones whose itemized deductions were negatively affected due to the $10K limit on state tax deductions.
    Remember the Thomas Nine !! (10/02/2018)
    The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)

    1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
    2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
    2020: Oakland, Oakland:  2021: EV Ohana, Ohana, Ohana, Ohana
    2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
    2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt2
  • curmudgeoness
    curmudgeoness Brigadoon, foodie capital Posts: 4,130
    Gern Blansten said:
    Did your income go up?   Hard to say why your taxes would have gone up unless you were one of the unlucky ones whose itemized deductions were negatively affected due to the $10K limit on state tax deductions.

    Nope, it was down 40% from 2017.
    All those who seek to destroy the liberties of a democratic nation ought to know that war is the surest and shortest means to accomplish it.

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