Larry Posted December 30, 2019 Share Posted December 30, 2019 1 hour ago, The Evil Genius said: I'm stunned. 🙄 @ Kinda surprised, there. Usually, Republican tax cuts go 97% to the top 1%. These numbers make it look a lot better. Link to comment Share on other sites More sharing options...
LadySkinsFan Posted December 30, 2019 Author Share Posted December 30, 2019 They're just riffing the 80-20 rule. The top is still making out like bandits, which they are. Link to comment Share on other sites More sharing options...
The Evil Genius Posted January 13, 2020 Share Posted January 13, 2020 Ad expected, the hardest hit by the SALT cap will be blue districts. When a tax cut isn't. https://www.taxpolicycenter.org/statistics/congressional-districts-ranked-percentage-returns-state-and-local-tax-deduction-2014-and 1 Link to comment Share on other sites More sharing options...
NoCalMike Posted January 13, 2020 Share Posted January 13, 2020 People just need to accept the fact that a half tank of gas more in their pay check is not worth the trade off for these kinds of tax cuts. I've seen people legitimately trying to argue that anywhere between $17-25 more in their paychecks make it all worth it. 1 Link to comment Share on other sites More sharing options...
Larry Posted January 13, 2020 Share Posted January 13, 2020 27 minutes ago, The Evil Genius said: Ad expected, the hardest hit by the SALT cap will be blue districts. You do know that was one reason why they did it, don't you? 1 1 Link to comment Share on other sites More sharing options...
Cooked Crack Posted January 31, 2020 Share Posted January 31, 2020 1 Link to comment Share on other sites More sharing options...
PleaseBlitz Posted January 31, 2020 Share Posted January 31, 2020 So $110 billion on top of 11 kajillion is...... Link to comment Share on other sites More sharing options...
PleaseBlitz Posted January 31, 2020 Share Posted January 31, 2020 Goddammit Trump ****ed me again. The upper limit for the social security payroll tax went up by $5,000. Link to comment Share on other sites More sharing options...
Larry Posted January 31, 2020 Share Posted January 31, 2020 22 minutes ago, PleaseBlitz said: Goddammit Trump ****ed me again. The upper limit for the social security payroll tax went up by $5,000. Not sure I'd blame Trump for that. Doesn't seem like something the R's would do. I mean, it increases revenue for SS, which I don't think the R's want to do. They want to claim it's bankrupt, so they can demand cuts to it. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted January 31, 2020 Share Posted January 31, 2020 2 minutes ago, Larry said: Not sure I'd blame Trump for that. Doesn't seem like something the R's would do. I mean, it increases revenue for SS, which I don't think the R's want to do. They want to claim it's bankrupt, so they can demand cuts to it. It's pegged to inflation. I'm being somewhat facetious. Link to comment Share on other sites More sharing options...
China Posted May 20, 2020 Share Posted May 20, 2020 Crush your taxes, then a cold one: Natty Light giving away free beer this tax season The coronavirus pandemic has extended tax season by a few weeks. If you're lacking the motivation to get things done, maybe some free beer will do the trick. Natural Light wants to help you get your taxes done. You have until July 15, so don't sweat it just yet. But, when you are ready, if you use TaxAct.com, you can get a free case of Natty Light after you file. The companies are joining forces to give you some "un-beer-lievable" motivation, forming an unexpected dynamic duo. Click on the link for the full article Link to comment Share on other sites More sharing options...
Springfield Posted February 20, 2021 Share Posted February 20, 2021 So I'm doing my taxes right now. First time I'm ever going to owe money to the government in my 20+ years of doing taxes. Exactly nothing has changed at all for me as far as my withholdings go over the last 5 years. I (and we as a household) made less money last year than I did the year before. Looks like I'm going to owe THOUSANDS of dollars to the fed. Thanks a ****ing lot Donald Trump and all you other republican assholes. 4 Link to comment Share on other sites More sharing options...
tshile Posted February 20, 2021 Share Posted February 20, 2021 Did your paychecks increase? Sounds like your withholding needs to be adjusted. There a lot of people that got screwed by that. Their paychecks went up because their old way of withholding was incorrect, and now they owe come tax time. you really have to compare effective tax rates based on filing to know how your situation changed. Simply saying owing more or less at filing time is not a good measurement. That said, I think it was a terrible change. Over the course of the change our effective tax rate has plummeted significantly while our annual household income has increased significantly. The net change is so drastic that our nominal taxes is less now - not just the rate but the dollar amount. That’s dumb. We didn’t need tax relief. And we value what taxes pay for. And we’re watching people who could use relief not really get any. 5 Link to comment Share on other sites More sharing options...
skinfan2k Posted February 20, 2021 Share Posted February 20, 2021 wasn't there a change in payroll taxes therefore you would get more in your paychecks? 1 Link to comment Share on other sites More sharing options...
Fergasun Posted February 20, 2021 Share Posted February 20, 2021 2 minutes ago, skinfan2k said: wasn't there a change in payroll taxes therefore you would get more in your paychecks? This... now you get to pay that back. Link to comment Share on other sites More sharing options...
Springfield Posted February 20, 2021 Share Posted February 20, 2021 5 minutes ago, tshile said: Did your paychecks increase? Sounds like your withholding needs to be adjusted. There a lot of people that got screwed by that. Their paychecks went up because their old way of withholding was incorrect, and now they owe come tax time. you really have to compare effective tax rates based on filing to know how your situation changed. Simply saying owing more or less at filing time is not a good measurement. That said, I think it was a terrible change. Over the course of the change our effective tax rate has plummeted significantly while our annual household income has increased significantly. The net change is so drastic that our nominal taxes is less now - not just the rate but the dollar amount. That’s dumb. We didn’t need tax relief. And we value what taxes pay for. And we’re watching people who could use relief not really get any. I’ll wait until we finalize but at first glance, comparing to taxes before this plan, my taxable income increased by about 20% under Trump’s plan. The only thing that saved us last year was that we could deduct preschool costs. This year, they had preschool for 2 Months before everything shut down. Link to comment Share on other sites More sharing options...
skinfan2k Posted February 20, 2021 Share Posted February 20, 2021 1 minute ago, Fergasun said: This... now you get to pay that back. https://www.kiplinger.com/taxes/601197/what-trumps-payroll-tax-cut-will-mean-for-you If you made less than 4k per pay period gross and your company participated in the payroll tax deferral, you have until april 1 to pay. Thats why you have to pay @Springfield Link to comment Share on other sites More sharing options...
tshile Posted February 20, 2021 Share Posted February 20, 2021 Oh yeah. My employer said they were going to continue withholding it and that if someone really wanted it, they could ask. Employer said it will just hurt people because they have to pay it back and will forget or not realize. 2 Link to comment Share on other sites More sharing options...
HOF44 Posted February 21, 2021 Share Posted February 21, 2021 I don’t even want to talk about what I paid in taxes this year. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted February 21, 2021 Share Posted February 21, 2021 17 minutes ago, HOF44 said: I don’t even want to talk about what I paid in taxes this year. Me either. Link to comment Share on other sites More sharing options...
China Posted February 21, 2021 Share Posted February 21, 2021 Taxes: What you can actually deduct after working from home for most of 2020 The coronavirus pandemic forced millions of American workers to quickly transition to a work-from-home (WFH) setup, but not every worker had a turnkey office in their house or apartment. So, many people bought new chairs, desks, and other office equipment out of pocket to accommodate their WFH arrangement. Now some may wonder: Can I deduct those costs and others on my 2020 federal tax returns? “The answer depends on the status of individuals,” Lewis Taub, a certified public accountant and director of tax services at the New York office of Berkowitz Pollack Brant Advisors, told Yahoo Money. “If they’re employees who work at a company or if they are self-employed.” Regular employees Many companies allowed or even encouraged their employees to work from home during the coronavirus pandemic, but any expenses employees incurred to make the new setup work aren’t deductible on your federal income tax returns. Nor are any expenses related to your home office space, like utilities, insurance, or taxes. That’s because the Tax Cut and Jobs Act, signed into law at the end of 2017 under the Trump administration, got rid of the unreimbursed business expense deduction for employees along with the home office deduction for employees. Click on the link for the full article Link to comment Share on other sites More sharing options...
EmirOfShmo Posted February 21, 2021 Share Posted February 21, 2021 14 hours ago, HOF44 said: I don’t even want to talk about what I paid in taxes this year. 14 hours ago, PleaseBlitz said: Me either. I do. Last year was our first year collecting Social Security. I withheld money monthly & paid my fed & state taxes quarterly. I did my first run on Turbotax on Wednesday and found out that Virginia doesn't tax SS. 1 Link to comment Share on other sites More sharing options...
Skinsfan1311 Posted February 21, 2021 Share Posted February 21, 2021 15 hours ago, HOF44 said: I don’t even want to talk about what I paid in taxes this year. Alcohol, or Income? 😉 2 1 Link to comment Share on other sites More sharing options...
Elessar78 Posted February 21, 2021 Share Posted February 21, 2021 On 1/31/2020 at 11:09 AM, PleaseBlitz said: It's pegged to inflation. I'm being somewhat facetious. Either way, someon's getting pegged. 3 Link to comment Share on other sites More sharing options...
Elessar78 Posted February 21, 2021 Share Posted February 21, 2021 On one hand, SALT is a big money thing for those of you that live in high COLA/Blue areas. On the other, it's also a very regressive tax. 1 Link to comment Share on other sites More sharing options...
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