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opelmanta1900
Herf-A-Holic Topic Starter

7 years ago

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?

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dstieger
Herf-A-Holic

7 years ago

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
Herf-A-Holic

7 years ago

I am just waiting for the rest of our W-2s and 1099s to take to the accountant.

delta1
Herf-A-Holic

7 years ago

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)

Edited by user 7 years ago | Reason: Not specified

dstieger
Herf-A-Holic

7 years ago

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
Herf-A-Holic

7 years ago

I just give it to a guy and give him money.
I also don't bother doing it till September.....

opelmanta1900
Herf-A-Holic Topic Starter

7 years ago

dstieger wrote:

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
Herf-A-Holic Topic Starter

7 years ago

I just give it to a guy and give him money.
I also don't bother doing it till September.....

victor809 wrote:

You'll be paying that guy double next year... CA return and an MO one...

victor809
Herf-A-Holic

7 years ago

Yeah... Have to add more on.
I'll stop for 2019 tho. My income will shift to w2 and those are super easy.

opelmanta1900
Herf-A-Holic Topic Starter

7 years ago

#10

enjoy it for another few years...it's going away for us little guys..

delta1 wrote:

Cuz the dems are taking back power?

deadeyedick
Herf-A-Holic

7 years ago

#11

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
Herf-A-Holic

7 years ago

#12

Cuz the dems are taking back power?

opelmanta1900 wrote:

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...

Edited by user 7 years ago | Reason: Not specified

victor809
Herf-A-Holic

7 years ago

#13

.... Huh.... What happens in 2025 I wonder.

rfenst
Herf-A-Holic

7 years ago

#14

.... Huh.... What happens in 2025 I wonder.

victor809 wrote:

If you find out beforehand, let me know!

victor809
Herf-A-Holic

7 years ago

#15

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
Herf-A-Holic Topic Starter

7 years ago

#16

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...