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You have to laugh so you donít cry. Are people really that stupid???

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You have to laugh so you donít cry. Are people really that stupid???

Old 02-12-2019, 09:30 AM
  #101  
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Originally Posted by olyveoil View Post
So. As a taxpayer, do you think taxpayers should subsidize McMansions / jumbo mortgages? Your state and local income taxes...assume they are not SC? Nevertheless, why should all taxpayers subsidize out of control state and local income and/or out of control property taxes?
Losing $20k in in deductions does not equate to $22k in federal income taxes - does it?
Im not sure that jumbo mortgages and mcmansions are synonymous. Taking a jumbo mortgage is actually one of the few ways to reduce your tax burden if you are a relatively well paid employee. I guess I could get a boat with a head/kitchen and write that interest of. Are you against taxpayers subsidizing that as well?
you could argue that any legitimate deduction is asking taxpayers to subsidize that element. Are you anti all deductions?
taking advantage of all available and legal deductions is not a bad thing.
Also your assumption is incorrect, are S&l taxes are SC that is where we live.
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Old 02-12-2019, 09:36 AM
  #102  
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Originally Posted by mikefloyd View Post
Or we could get rid of the 22M illegal immigrants and save $116B per year. You could build a really nice wall for that.
How are you figuring the math on that?
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Old 02-12-2019, 09:44 AM
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Originally Posted by MattGoose View Post
How are you figuring the math on that?
Just picked a C&P https://www.irli.org/single-post/201...iAAEgJJ2vD_BwE
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Old 02-12-2019, 02:38 PM
  #104  
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Originally Posted by anonymous_coward View Post
It is happening.

PAGE 1 OF 1120S SHOWING BUSINESS OWNERS W2 INCOME AND K1 INCOME
Attachment 1095527

PAGE 2 OF 1040 SHOWING BUSINESS OWNERS FEDERAL TAX PAYMENT OF $3,868
Attachment 1095528

The borrower was loaded and had to be pulling in $250k to $300k yet got away with a $3,868 federal tax payment.
You don't really know that without examining his expenses. Just because a business grosses $800k doesn't mean it is profitable.
Sears grossed $16.7 Billion and lost $384 million last year.
Of course Eddie wasn't taking back pop bottles to buy fuel for his jet.
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Old 02-12-2019, 02:46 PM
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The only real way to look at this tax "change" is to take your 2018 numbers and run them on the 2017 formula. I saved about $800 but since other things changed and I did not fool with my withholding I am getting 5 grand back.
The choice is simply whether you want to loan the money to Sammy at 0 % interest and lessen the chance of paying a penalty or let the bank give you .25% in your checking account.
It is worth five bucks to me to not have to worry about giving Sammy more money. One of my biggest withholdings is really on my RMA and he only keeps that a couple months.
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Old 02-12-2019, 04:31 PM
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2/3rds of American are paying less taxes in 2018. However, the fake news media has been all over the lower "returns" this year. Unbelievable stupidity.
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Old 02-12-2019, 04:41 PM
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Originally Posted by John_Madison CT View Post
2/3rds of American are paying less taxes in 2018. However, the fake news media has been all over the lower "returns" this year. Unbelievable stupidity.
It's amazes me they are running that nonsense, I've even seen a few politicians Tweet about it. They must know/think their base is dumb
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Old 02-12-2019, 06:08 PM
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Originally Posted by RyanL11 View Post
It's amazes me they are running that nonsense, I've even seen a few politicians Tweet about it. They must know/think their base is dumb

At risk of getting booted, I can't say what I feel. But I think we know why they spew these lies.
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Old 02-12-2019, 07:25 PM
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Default Lol !!! Yes AOC. Is upset . She is Another congressional idiot

Originally Posted by oldpete View Post
i find it comical that i can be bashed for pointing out how stupid it is to be upset that your taxes went down.

Tht never ceases to amaze me.

I almost wonder how many stupids could not do the basic math to figure out the issue.

Whatís next?? Someone upset that gas isnít $20 gal.?


aoc
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Old 02-12-2019, 07:31 PM
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The people who are getting hosed live in states that went for Hillary (High SALT). Elections have consequences.
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Old 02-12-2019, 08:13 PM
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Default Lucky me.

In nj we have the new governor Stupid.

Sanctuary state, free every thing for illegal aliens

New rain tax . Hahahahah can we walk our dogs on his lawn.

New millionaire tax. Hahahahah they are leaving

Uncontroled Anti gun legislation, his first days in office
made 100k citizens instant state criminals.

cant we have a tax on stupid politicians and their ridiculous laws.

wait for 1968 to happen all over again, this time it will
be the citizenry, fore the people , by the people
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Old 02-13-2019, 04:14 AM
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My record is $23. Highest I ever got back was $600
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Old 02-13-2019, 07:21 AM
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Originally Posted by John_Madison CT View Post
2/3rds of American are paying less taxes in 2018. However, the fake news media has been all over the lower "returns" this year. Unbelievable stupidity.
What's your source on that?
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Old 02-13-2019, 07:35 AM
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Originally Posted by gfretwell View Post
The only real way to look at this tax "change" is to take your 2018 numbers and run them on the 2017 formula. I saved about $800 but since other things changed and I did not fool with my withholding I am getting 5 grand back.
The choice is simply whether you want to loan the money to Sammy at 0 % interest and lessen the chance of paying a penalty or let the bank give you .25% in your checking account.
It is worth five bucks to me to not have to worry about giving Sammy more money. One of my biggest withholdings is really on my RMA and he only keeps that a couple months.
This is my logic as well.
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Old 02-13-2019, 07:43 AM
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Back in late 2001 when the government was sending out those $300-600+ stimulus checks Jesse Jackson was quoted as saying these income tax rebate checks are unfair to those who don’t pay taxes.

That pretty much sums up everything.
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Old 02-13-2019, 07:47 AM
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Originally Posted by mikefloyd View Post
Might be worth taking a more critical look at your study. Here's a decent summary of the issues with that study: https://www.azcentral.com/story/news...omy/691997002/

Three most prominent issues:
1. Overstates the number of illegal aliens in the country by 1-2 million, compared to other estimates (including the CBO).
2. Includes the cost of 4.2 million US citizens in calculating the cost. They are children of illegal aliens, but under the laws of the US they are citizens. Don't like it, change the law.
3. It does not include any of the GDP contributions, or take into account what would happen if 10 - 12 million people were deported.

Jesus. The more I read of this, the more crappy it clearly is.
1. Includes $3.4B on the assumption that illegal aliens are improperly using Medicaid services. But it makes no argument that they actually are. None whatsoever. Literally, it just says they assume. (page 12)
2. It includes $4.2B for Medicaid payments for US citizens. (page 12)
3. It includes the entire $6B for customs and operating budget. That cost exists irrelevant of whether or not there are illegal aliens in this country. Hell, if they did a better job, we might have fewer illegal aliens.
4. $1.7B for Temporary Assitance for Needy Families. Which is only available to US citizens.
5. $1.9B for SNAP. Ditto to the above.

It's wroth skimming through the thing: https://fairus.org/sites/default/fil...ation-2017.pdf

It is not, in any way shape or form an honest attempt to accurately capture and portray the costs of illegal immigration.
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Old 02-13-2019, 09:27 AM
  #117  
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Originally Posted by anonymous_coward View Post
It is happening.

PAGE 1 OF 1120S SHOWING BUSINESS OWNERS W2 INCOME AND K1 INCOME
Attachment 1095527

PAGE 2 OF 1040 SHOWING BUSINESS OWNERS FEDERAL TAX PAYMENT OF $3,868
Attachment 1095528

The borrower was loaded and had to be pulling in $250k to $300k yet got away with a $3,868 federal tax payment.
I can't believe you are still positing client tax returns. Would you do business with me if I did that?

Why is there (almost) no withholding on the W-2 income (officer salaries) or is the taxpayer in question not an officer? It's an 1120-s so the owner(s) should be getting a W2. How much were the draws? You should have a balance sheet. Can you read it? The SE tax must be for another activity.

Where the COGS legit? They are over 600K. If his income is so low, why would you lend to them?

Again you post confidential information (I assume you company DOES provide a disclosure of protection of client data as required by law) and make analysis that doesn't show knowledge of how a business operates.
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Old 02-13-2019, 10:36 AM
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Originally Posted by RyanL11 View Post
It's amazes me they are running that nonsense, I've even seen a few politicians Tweet about it. They must know/think their base is dumb
I would not argue with your conclusion.
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Old 02-13-2019, 11:16 AM
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Originally Posted by WeeKilt View Post
So letís assume just for the sake of discussion that these ďidiotsĒ (Iím one that got a decent refund and was happy about it) had this extra money, just what would you propose I shouldíve done with it in 2018? The IRS didnít publish any hard guidelines on withholding, so it was up to me to decide what level of withholding was best for my situation. Just curious as to what those of you ďTHT Brain Trust WizardsĒ wouldíve recommended, since a search of THT didnít exactly show the light in the aftermath of the tax changes last year?

Iím all for being educated by yíallís immense wisdom... rather than being condescending, offer up a solid plan for 2019, please.
Talk to an accountant.

That should be your plan.
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Old 02-13-2019, 11:24 AM
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The Washington Post:

"The Facts

In 2018, most U.S. taxpayers can expect some kind of tax cut, according to just about every analysis. The nonpartisan Tax Policy Center found that initially more than 80 percent of taxpayers would get a tax cut, with less than 5 percent getting a tax increase."



https://www.washingtonpost.com/polit...=.47536ee9b42f




Originally Posted by MattGoose View Post
What's your source on that?

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