REMINDER: Siteowner has no obligation to monitor the Forums. However, Siteowner reserves the right to review the Materials submitted to or posted on the Forums, and remove, delete, redact or otherwise modify such Materials, in its sole discretion and for any reason whatsoever, at any time and from time to time, without notice or further obligation to you. Siteowner has no obligation to display or post any Materials provided by you. Siteowner reserves the right to disclose, at any time and from time to time, any information or Materials that Siteowner deems necessary or appropriate to satisfy any applicable law, regulation, contract obligation, legal or dispute process or government request. To further read the rules and terms of agreement of this Forum, click here.

Previous Thread
Next Thread
Print Thread
Page 1 of 19 1 2 3 18 19
2018 Tax Returns.....whos getting screwed? #2908655
02/04/19 11:58 PM
02/04/19 11:58 PM
Joined: Jan 2016
Posts: 14,207
Urbana, Illinois
H
hal9000 Offline OP
Tom Curren status
hal9000  Offline OP
Tom Curren status
**
H

Joined: Jan 2016
Posts: 14,207
Urbana, Illinois
I think lots of people are in for a shocker.


"I'm sorry, Dave. I'm afraid I can't do that."
Re: 2018 Tax Returns.....whos getting screwed? [Re: hal9000] #2908660
02/05/19 12:02 AM
02/05/19 12:02 AM
Joined: Jan 2014
Posts: 19,362
West of the Atlantic. East of...
G
GromsDad Offline
Duke status
GromsDad  Offline
Duke status
**
G

Joined: Jan 2014
Posts: 19,362
West of the Atlantic. East of...
If you did it right you don't get a return or owe anything at the end of the year. Always laugh at people who get all excited at getting a tax return. People too dumb to realize that they gave the government an interest free loan.


“I always thank God I didn't go to film school because I would have learned that I couldn't be doing what I've been doing already.” - Bruce Brown,
Re: 2018 Tax Returns.....whos getting screwed? [Re: hal9000] #2908662
02/05/19 12:03 AM
02/05/19 12:03 AM
Joined: Nov 2014
Posts: 323
U
Uberkuque Offline
Legend (inyourownmind)
Uberkuque  Offline
Legend (inyourownmind)
**
U

Joined: Nov 2014
Posts: 323
Yes this is keeping me up nights. I think my wife and I are in the bracket (and location) that will be hit among the hardest by this.

So that millionaires and billionaires can get a tax cut. Un-fvcking-real.

If there was ever a reason and time to refuse to pay taxes based on a moral objection, this would be it.

Re: 2018 Tax Returns.....whos getting screwed? [Re: hal9000] #2908663
02/05/19 12:05 AM
02/05/19 12:05 AM
Joined: Jan 2016
Posts: 14,207
Urbana, Illinois
H
hal9000 Offline OP
Tom Curren status
hal9000  Offline OP
Tom Curren status
**
H

Joined: Jan 2016
Posts: 14,207
Urbana, Illinois
I have a feeling that people with investment properties are gonna get shafted.


"I'm sorry, Dave. I'm afraid I can't do that."
Re: 2018 Tax Returns.....whos getting screwed? [Re: GromsDad] #2908664
02/05/19 12:06 AM
02/05/19 12:06 AM
Joined: Nov 2014
Posts: 323
U
Uberkuque Offline
Legend (inyourownmind)
Uberkuque  Offline
Legend (inyourownmind)
**
U

Joined: Nov 2014
Posts: 323
Originally Posted By: GromsDad
If you did it right you don't get a return or owe anything at the end of the year. Always laugh at people who get all excited at getting a tax return. People too dumb to realize that they gave the government an interest free loan.


Bigger than timing issues is the total amount paid in taxes. That's where many of us will lose, so that the ultra rich pay less.

Re: 2018 Tax Returns.....whos getting screwed? [Re: hal9000] #2908666
02/05/19 12:09 AM
02/05/19 12:09 AM
Joined: Jan 2003
Posts: 34,083
CA
S
stu dog Offline
Duke status
stu dog  Offline
Duke status
**
S

Joined: Jan 2003
Posts: 34,083
CA
made a mistake entering my mortgage on Turbo Tax and holy fook was pissed it kicked me into a standard deduction. Fixed it now, just cause of not selecting one button. End of it my taxes went up .06% compared to last year on about the same AGI. Only thing the new tax law did was I got my refund basically over the whole year in my bi-weekly pay check compared to getting a good size refund on my 1040

Last edited by stu dog; 02/05/19 12:30 AM.
Re: 2018 Tax Returns.....whos getting screwed? [Re: hal9000] #2908677
02/05/19 12:24 AM
02/05/19 12:24 AM
Joined: Jun 2008
Posts: 23,880
A
afoaf Offline
Duke status
afoaf  Offline
Duke status
**
A

Joined: Jun 2008
Posts: 23,880
got hammered last year. still shell-shocked.


if you haven't smoked DMT you have no credibility on any subject in surfing or outside of surfing...
Re: 2018 Tax Returns.....whos getting screwed? [Re: hal9000] #2908683
02/05/19 12:41 AM
02/05/19 12:41 AM
Joined: May 2011
Posts: 7,079
A Beach
G
grapedrink Offline
Phil Edwards status
grapedrink  Offline
Phil Edwards status
**
G

Joined: May 2011
Posts: 7,079
A Beach
Losing the home office deduction will cost me about $600. Not sure if the new brackets will be favorable for me, but I doubt it will change much.
The new standard deduction basically make owning a home a non-incentive. Which isn't really a bad thing in principal. Interesting to see if this affects real estate pricing and buying habits in California shrug


You forgot it was STOLEN?!
Re: 2018 Tax Returns.....whos getting screwed? [Re: hal9000] #2908684
02/05/19 12:42 AM
02/05/19 12:42 AM
Joined: Feb 2002
Posts: 6,773
san diego, CA
O
obslop Offline
Phil Edwards status
obslop  Offline
Phil Edwards status
***
O

Joined: Feb 2002
Posts: 6,773
san diego, CA
not me. let some clients go and cut back on work load.

Re: 2018 Tax Returns.....whos getting screwed? [Re: grapedrink] #2908686
02/05/19 12:46 AM
02/05/19 12:46 AM
Joined: Jan 2003
Posts: 34,083
CA
S
stu dog Offline
Duke status
stu dog  Offline
Duke status
**
S

Joined: Jan 2003
Posts: 34,083
CA
Originally Posted By: grapedrink
Losing the home office deduction will cost me about $600. Not sure if the new brackets will be favorable for me, but I doubt it will change much.
The new standard deduction basically make owning a home a non-incentive. Which isn't really a bad thing in principal. Interesting to see if this affects real estate pricing and buying habits in California shrug


it makes owning a home in a higher tax state and/or county less appealing possibly for a first time home buyer being capped at $10K. but the tax rates did decrease. Net net, I'm nearly exactly where I was last year in total tax owed. But if LA keeps adding on measures to my property tax, that will start to hurt.

Last edited by stu dog; 02/05/19 12:47 AM.
Re: 2018 Tax Returns.....whos getting screwed? [Re: hal9000] #2908698
02/05/19 01:10 AM
02/05/19 01:10 AM
Joined: Jan 2014
Posts: 19,362
West of the Atlantic. East of...
G
GromsDad Offline
Duke status
GromsDad  Offline
Duke status
**
G

Joined: Jan 2014
Posts: 19,362
West of the Atlantic. East of...
Our household income went up considerably this past year and also lose one dependent and have another as a college student. Not sure how things will shake out this year honestly.


“I always thank God I didn't go to film school because I would have learned that I couldn't be doing what I've been doing already.” - Bruce Brown,
Re: 2018 Tax Returns.....whos getting screwed? [Re: stu dog] #2908700
02/05/19 01:14 AM
02/05/19 01:14 AM
Joined: May 2011
Posts: 7,079
A Beach
G
grapedrink Offline
Phil Edwards status
grapedrink  Offline
Phil Edwards status
**
G

Joined: May 2011
Posts: 7,079
A Beach
Originally Posted By: stu dog
Originally Posted By: grapedrink
Losing the home office deduction will cost me about $600. Not sure if the new brackets will be favorable for me, but I doubt it will change much.
The new standard deduction basically make owning a home a non-incentive. Which isn't really a bad thing in principal. Interesting to see if this affects real estate pricing and buying habits in California shrug


it makes owning a home in a higher tax state and/or county less appealing possibly for a first time home buyer being capped at $10K. but the tax rates did decrease. Net net, I'm nearly exactly where I was last year in total tax owed. But if LA keeps adding on measures to my property tax, that will start to hurt.

Yes, that's what I was getting at. Only being able to deduct $500K in interest limits the upper reaches of what one can benefit from in California. Plus if you are able to afford a home in that price range in California, then your property taxes and state income taxes probably add up to $10K or more.

With the loss of the home office deduction, if I itemize I am almost dead even with the new standard deduction filing (as married, not if single).


You forgot it was STOLEN?!
Re: 2018 Tax Returns.....whos getting screwed? [Re: Uberkuque] #2908703
02/05/19 01:17 AM
02/05/19 01:17 AM
Joined: Apr 2013
Posts: 10,168
THE TERRORIST OF TERRAMAR
C
Coat Hanger Offline
Tom Curren status
Coat Hanger  Offline
Tom Curren status
**
C

Joined: Apr 2013
Posts: 10,168
THE TERRORIST OF TERRAMAR
Originally Posted By: Uberkuque
Yes this is keeping me up nights. I think my wife and I are in the bracket (and location) that will be hit among the hardest by this.

So that millionaires and billionaires can get a tax cut. Un-fvcking-real.

If there was ever a reason and time to refuse to pay taxes based on a moral objection, this would be it.


Wealthy peoples taxes have nothing to do with yours.

You need to pay your fair share.


Originally Posted By: StuAzole
The deference given to veterans is insane. They signed up, did their job and got paid for it. Fine.
Re: 2018 Tax Returns.....whos getting screwed? [Re: hal9000] #2908706
02/05/19 01:19 AM
02/05/19 01:19 AM
Joined: Jan 2017
Posts: 14,364
B
BillyOcean Offline
Tom Curren status
BillyOcean  Offline
Tom Curren status
**
B

Joined: Jan 2017
Posts: 14,364
#learntocode

Re: 2018 Tax Returns.....whos getting screwed? [Re: Coat Hanger] #2908755
02/05/19 03:23 AM
02/05/19 03:23 AM
Joined: Nov 2014
Posts: 323
U
Uberkuque Offline
Legend (inyourownmind)
Uberkuque  Offline
Legend (inyourownmind)
**
U

Joined: Nov 2014
Posts: 323
Originally Posted By: Coat Hanger
Originally Posted By: Uberkuque
Yes this is keeping me up nights. I think my wife and I are in the bracket (and location) that will be hit among the hardest by this.

So that millionaires and billionaires can get a tax cut. Un-fvcking-real.

If there was ever a reason and time to refuse to pay taxes based on a moral objection, this would be it.


Wealthy peoples taxes have nothing to do with yours.

You need to pay your fair share.


I pay my fair share. The wealthy dont pay theirs.

For example Trump paid zero taxes, thanks to RE loopholes.

Why are capital gains taxes so much lower than income taxes? Passive income doesnt deserve to be taxed at a lower rate than regular income.

Page 1 of 19 1 2 3 18 19

Moderated by  Groundswell, Nameless60, r32