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opelmanta1900 Offline
#1 Posted: Mon, Jan 28 2019, 11:40 AM EST
Joined: 01-10-2012
Posts: 13,954
Income was roughly the same as last year... We were taxed at a 3% lower rate... Saw a 20% increase in our return... Who do I send the thank you card to, trump or bama?
dstieger Offline
#2 Posted: Mon, Jan 28 2019, 11:54 AM EST
Joined: 06-22-2007
Posts: 10,889
Only a politician....can make you fork over a quarter of your income....and have you thanking them.....John Gotti woulda been so proud
rfenst Offline
#3 Posted: Mon, Jan 28 2019, 12:01 PM EST
Joined: 06-23-2007
Posts: 39,291
I am just waiting for the rest of our W-2s and 1099s to take to the accountant.
delta1 Offline
#4 Posted: Mon, Jan 28 2019, 1:56 PM EST
Joined: 11-23-2011
Posts: 28,782
enjoy it for another few years...it's going away for us little guys, but the rich fat cats and big business get to keep their huge cuts forever... (insert jealous emoticon)
dstieger Offline
#5 Posted: Mon, Jan 28 2019, 2:36 PM EST
Joined: 06-22-2007
Posts: 10,889
I'm far from finished, but I've gotten most of the larger numbers loaded.....'WASTED' a lot of time only to learn that for first time in decades, we won't be itemizing. What happened to doing this chit on a postcard????
victor809 Offline
#6 Posted: Mon, Jan 28 2019, 2:47 PM EST
Joined: 10-14-2011
Posts: 23,866
I just give it to a guy and give him money.
I also don't bother doing it till September.....
opelmanta1900 Offline
#7 Posted: Mon, Jan 28 2019, 2:50 PM EST
Joined: 01-10-2012
Posts: 13,954
dstieger wrote:
I'm far from finished, but I've gotten most of the larger numbers loaded.....'WASTED' a lot of time only to learn that for first time in decades, we won't be itemizing. What happened to doing this chit on a postcard????

I got that heads up from my pops that many people who were used to itemizing wouldn't be this year... But they doubled the child credit thingy from 1k to 2k....
opelmanta1900 Offline
#8 Posted: Mon, Jan 28 2019, 2:51 PM EST
Joined: 01-10-2012
Posts: 13,954
victor809 wrote:
I just give it to a guy and give him money.
I also don't bother doing it till September.....

You'll be paying that guy double next year... CA return and an MO one...
victor809 Offline
#9 Posted: Mon, Jan 28 2019, 2:52 PM EST
Joined: 10-14-2011
Posts: 23,866
Yeah... Have to add more on.
I'll stop for 2019 tho. My income will shift to w2 and those are super easy.
opelmanta1900 Offline
#10 Posted: Mon, Jan 28 2019, 2:52 PM EST
Joined: 01-10-2012
Posts: 13,954
delta1 wrote:
enjoy it for another few years...it's going away for us little guys..

Cuz the dems are taking back power?
deadeyedick Offline
#11 Posted: Mon, Jan 28 2019, 7:10 PM EST
Joined: 03-13-2003
Posts: 17,087
If you are in one of the many states who have not changed their rules yet to conform with the Fed tax changes implemented for 2018, you best wait awhile to send in that return. If you send it now, you will most likely need to file an amended return after the changes are made.

delta1 Offline
#12 Posted: Mon, Jan 28 2019, 10:44 PM EST
Joined: 11-23-2011
Posts: 28,782
opelmanta1900 wrote:
Cuz the dems are taking back power?


No....the Trump tax cuts for individuals will expire in 2025, with the tax rates going back up to what they were before the cut - about 3%...the cons did a good job of obscuring that part of Trump's tax cut...

the corporate tax cuts are permanent...

depending on how big the national debt will be then, the administration in power at the time might make a political calculation to extend the individual cuts...
victor809 Offline
#13 Posted: Tue, Jan 29 2019, 12:31 AM EST
Joined: 10-14-2011
Posts: 23,866
.... Huh.... What happens in 2025 I wonder.
rfenst Offline
#14 Posted: Tue, Jan 29 2019, 6:57 AM EST
Joined: 06-23-2007
Posts: 39,291
victor809 wrote:
.... Huh.... What happens in 2025 I wonder.

If you find out beforehand, let me know!
victor809 Offline
#15 Posted: Tue, Jan 29 2019, 10:48 AM EST
Joined: 10-14-2011
Posts: 23,866
That was a joke...
I'm sure it's just a coincidence that it's the first year after a 2 term ends.
No reason anyone would make tax cuts end immediately after they leave office and someone else takes over.
opelmanta1900 Offline
#16 Posted: Tue, Jan 29 2019, 10:57 AM EST
Joined: 01-10-2012
Posts: 13,954
Seems polite of him not to impose his will over the next president... Let the new guy or gal determine their own tax program... Not sure why that would be a problem...
frankj1 Offline
#17 Posted: Tue, Jan 29 2019, 1:46 PM EST
Joined: 02-08-2007
Posts: 44,221
Corporations need to put food on their families...

W
frankj1 Offline
#18 Posted: Tue, Jan 29 2019, 1:47 PM EST
Joined: 02-08-2007
Posts: 44,221
or was it make love to their patients?
opelmanta1900 Offline
#19 Posted: Tue, Jan 29 2019, 2:04 PM EST
Joined: 01-10-2012
Posts: 13,954
It's both...
frankj1 Offline
#20 Posted: Tue, Jan 29 2019, 4:35 PM EST
Joined: 02-08-2007
Posts: 44,221
opelmanta1900 wrote:
It's both...

makes 'em more human.
deadeyedick Offline
#21 Posted: Tue, Jan 29 2019, 7:30 PM EST
Joined: 03-13-2003
Posts: 17,087
Someone is still chafing over Citizens United I see.
frankj1 Offline
#22 Posted: Tue, Jan 29 2019, 7:54 PM EST
Joined: 02-08-2007
Posts: 44,221
well...
danmdevries Offline
#23 Posted: Tue, Jan 29 2019, 8:44 PM EST
Joined: 02-11-2014
Posts: 17,359
Most of my stuff is filled out, just waiting on a few forms from stock trading and stuff that usually come mid February. Usually have to write a check for state and get a return for about the same amount from federal. Turbotax is showing a federal return of 200 something and owe state 80ish right now.

Overall income for this year was the lowest in 5 years. Just can't bring myself to do the overtime like I used to but I really need to...
deadeyedick Offline
#24 Posted: Wed, Jan 30 2019, 9:16 AM EST
Joined: 03-13-2003
Posts: 17,087
frankj1 wrote:
well...


Ha! You are not alone.
frankj1 Offline
#25 Posted: Wed, Jan 30 2019, 2:25 PM EST
Joined: 02-08-2007
Posts: 44,221
deadeyedick wrote:
Ha! You are not alone.

but I been outed!
deadeyedick Offline
#26 Posted: Wed, Jan 30 2019, 5:14 PM EST
Joined: 03-13-2003
Posts: 17,087
Date decided: January 21, 2010 Thanks Obama!
frankj1 Offline
#27 Posted: Wed, Jan 30 2019, 7:17 PM EST
Joined: 02-08-2007
Posts: 44,221
deadeyedick wrote:
Date decided: January 21, 2010 Thanks Obama!

well, in all fairness, at that time he wasn't on the Supreme Court... yet
deadeyedick Offline
#28 Posted: Wed, Jan 30 2019, 8:05 PM EST
Joined: 03-13-2003
Posts: 17,087
What does fairness have to do with it any more?

The fairness doctrine of the United States Federal Communications Commission (FCC), introduced in 1949, was a policy that required the holders of broadcast licenses both to present controversial issues of public importance and to do so in a manner that was—in the FCC's view—honest, equitable, and balanced.
delta1 Offline
#29 Posted: Fri, Feb 1 2019, 5:28 PM EST
Joined: 11-23-2011
Posts: 28,782
speaking of broadcast, there was a controversy in the mid-80's about lack of conservative radio shows... talk shows being broadcast then were predominantly liberal...cycle has switched all the way across the spectrum, with conservative hosts dominating the radio waves...libs aren't even putting up a fight...

this flip is due to de-regulated ownership guidelines, the relaxation of the fairness doctrine, dropping of local requirements in ownership and broadcast standards...only a few, six, conservative broadcast companies dominate the airwaves...
rfenst Offline
#30 Posted: Sat, Feb 2 2019, 2:59 PM EST
Joined: 06-23-2007
Posts: 39,291
deadeyedick wrote:
What does fairness have to do with it any more?



I only cry out for fairness when I am losing...
cacman Offline
#31 Posted: Sat, Feb 2 2019, 4:23 PM EST
Joined: 07-03-2010
Posts: 12,216
Guess there something about giving the guberment a 20% increase in the interest-free loan you provide. Hooray! A shame most interest-bearing accounts, stocks, bonds, etc didn't receive a 20% increase in their return.
opelmanta1900 Offline
#32 Posted: Sat, Feb 2 2019, 4:32 PM EST
Joined: 01-10-2012
Posts: 13,954
I like our government... More than any others... If they need a little loan every now and then I'm not too tight to provide it...
cacman Offline
#33 Posted: Sat, Feb 2 2019, 4:33 PM EST
Joined: 07-03-2010
Posts: 12,216
Yep.And Hillary was broke when they left the WH.
opelmanta1900 Offline
#34 Posted: Sat, Feb 2 2019, 4:34 PM EST
Joined: 01-10-2012
Posts: 13,954
The president isn't the government...
delta1 Offline
#35 Posted: Mon, Feb 4 2019, 7:41 PM EST
Joined: 11-23-2011
Posts: 28,782
somebody should tell Trump...
frankj1 Offline
#36 Posted: Mon, Feb 4 2019, 9:17 PM EST
Joined: 02-08-2007
Posts: 44,221
opelmanta1900 wrote:
The president isn't the government...

and Hillary isn't/wasn't the President
opelmanta1900 Offline
#37 Posted: Mon, Feb 4 2019, 9:31 PM EST
Joined: 01-10-2012
Posts: 13,954
Oh did she lose? I didn't follow the election that closely...
frankj1 Offline
#38 Posted: Mon, Feb 4 2019, 9:37 PM EST
Joined: 02-08-2007
Posts: 44,221
opelmanta1900 wrote:
Oh did she lose? I didn't follow the election that closely...

I was adding to your statement, not chastising you.
opelmanta1900 Offline
#39 Posted: Tue, Feb 5 2019, 1:17 AM EST
Joined: 01-10-2012
Posts: 13,954
frankj1 wrote:
I was adding to your statement, not chastising you.

I know that... Herfing

Can you imagine a US citizen not knowing trump was president? I wanna be that guy...
deadeyedick Offline
#40 Posted: Tue, Feb 5 2019, 8:28 AM EST
Joined: 03-13-2003
Posts: 17,087
Damn! Sale of a non-primary residence sure complicates tax season. Bunch of old records to find and audit. I'm assuming long-term capitol gains going to hit the bottom line hard.

Better than a loss though.Think
Gene363 Offline
#41 Posted: Tue, Feb 5 2019, 9:02 AM EST
Joined: 01-24-2003
Posts: 30,810
deadeyedick wrote:
Damn! Sale of a non-primary residence sure complicates tax season. Bunch of old records to find and audit. I'm assuming long-term capitol gains going to hit the bottom line hard.

Better than a loss though.Think


Oh, I have felt your pain selling off our rentals and handing over a huge check for taxes on the gain and depreciation recovery. d'oh!
frankj1 Offline
#42 Posted: Tue, Feb 5 2019, 1:59 PM EST
Joined: 02-08-2007
Posts: 44,221
opelmanta1900 wrote:
I know that... Herfing

Can you imagine a US citizen not knowing trump was president? I wanna be that guy...

well, rest assured that guy voted for Trump.
delta1 Offline
#43 Posted: Tue, Feb 5 2019, 2:28 PM EST
Joined: 11-23-2011
Posts: 28,782
hmmmm...opel and I have another thing in common....
JadeRose Offline
#44 Posted: Tue, Feb 5 2019, 5:35 PM EST
Joined: 05-15-2008
Posts: 19,525
opelmanta1900 wrote:
You'll be paying that guy double next year... CA return and an MO one...




Whoa, Whoa, Whoa. What do you mean Victor is going to have a MO tax return. You're not allowed here, Vic.
JadeRose Offline
#45 Posted: Tue, Feb 5 2019, 5:37 PM EST
Joined: 05-15-2008
Posts: 19,525
frankj1 wrote:
Corporations need to put food on their families...

W






Dammit Frank! This one caught me by surprise and I woke up the napping wife by LOL'ing.
frankj1 Offline
#46 Posted: Tue, Feb 5 2019, 7:04 PM EST
Joined: 02-08-2007
Posts: 44,221
you're welcome.
opelmanta1900 Offline
#47 Posted: Wed, Feb 6 2019, 1:33 PM EST
Joined: 01-10-2012
Posts: 13,954
Fed return was just deposited.... Fastest we've ever seen it... I could get used to this kind of efficiency...
Gene363 Offline
#48 Posted: Thu, Feb 14 2019, 1:56 PM EST
Joined: 01-24-2003
Posts: 30,810
Woohoo! First year I do not have to write a check for additional Federal taxes! Even with mortgage interest I was better off taking the standard deduction instead of itemizing, we are getting a little bit of money back.
tamapatom Offline
#49 Posted: Thu, Feb 14 2019, 2:20 PM EST
Joined: 03-19-2015
Posts: 7,381
My accountant just died. I am sure the IRS will be sympathetic.
danmdevries Offline
#50 Posted: Thu, Feb 14 2019, 2:42 PM EST
Joined: 02-11-2014
Posts: 17,359
opelmanta1900 wrote:
Fed return was just deposited.... Fastest we've ever seen it... I could get used to this kind of efficiency...


Got my $200 deposited today.

Turned around and spent it ordering new brakes for the truck.
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