Well thank God I bought my new nuke tax-free in Delaware, then.
They have an outlet store for everything in Delaware btw.
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Well thank God I bought my new nuke tax-free in Delaware, then.
They have an outlet store for everything in Delaware btw.
I buy mine right from the Iranians, but if that source dries up, Delaware it is. Good to know.
Nukes-R-Us is right next to the Coach outlet so you can pick up some decent leather goods on the same trip.
Maybe deep six my desire for a Sch. C and form a LLC? Looking to legally cheat.Quote:
Originally Posted by TahoeJ
Yahoo had a piece claiming the average joe six pack would pay about $1300 more?
Had about forgot about SALT for those of you in them thar areas.
Think only going back 2 years on a loss, instead of 5, is going to affect me this year?
Hell, the SALT thing may be getting me? Don't have zillion dollar nuke in a nice neighborhood, but do have lots of crappy stuff.
If we're loaning Trump free money I'd be worried about getting any refund, given his record on paying back loans.
Problem is, most people will pay a lot more, and not even know it.
Crazy, they tell you taxes are getting cut, but they actually go up, and the deficit goes up at the same time. Repubs don't care, they'll be out of office and working in the private sector reaping their rewards from the CEO's and companies they benefitted before the dumbass public figures it out anyway
So I ended up making 5 trips to the local goodwill store and have 5 signed but blank receipts. Initially I just put a few hundred bucks for each one, but what’s the downside of upping it to a few grand per receipt? How does anyone know what I actually gave?
They call those deductions 'safe harbors' or something, it's not a red flag to get an audit. Or so I was told by my accountant.Quote:
Originally Posted by alias_rice
Bulls make money, bears make money, pigs get slaughtered"
Yeah and being in Utah where a big chunk of people send 10% to god, it’d probably never be noticed. But in the unlikely chance I was audited, what would I need to provide?Quote:
Originally Posted by muted
I dunno. Wear magic undies and a BYU shirt to the audit?Quote:
Originally Posted by alias_rice
I’d rather pay the penalty
Our Controller worked for the IRS for years. Every thing I've brought up to him in the past and also hearing his stories, it's just not worth fucking with the IRS...ever.Quote:
Originally Posted by alias_rice
Quote:
Originally Posted by iceman
I usually buy mine from the Libyans in the VW bus in the parking lot of the Twin Pines Mall.Quote:
Originally Posted by muted
C'mon man, if you're not cheating you're not trying. :fmicon:Quote:
Originally Posted by jackstraw
IRS is the only entity that can take your house quicker than the bank can..
Absolutely under the current tax code. Actually, an LLC is fine under the Dems version as well, but of course so much depends on the nature of the business and income.Quote:
Originally Posted by wooley12
Heh. I fudged on my taxes a few times and got busted every time. Usually takes them two or three years, but that chicken always comes home to roost. Better to hire somebody to do your taxes and that saves you money. As my grandpa said, I want to pay all the taxes I owe, and not one dime more.Quote:
Originally Posted by liv2ski
For donations to charity, I use the ItsDeductable part of TurboTax (in the donations section). It doesn't cost extra, and it values everything for you. Itemize everything and match it to your GoodWill receipts. I usually donate 5-7k...Quote:
Originally Posted by alias_rice
Ha, last year my parents thought it was my 40th birthday, and told all the relatives that. Something seemed off but with everyone saying happy 40th I didn't question it much. But it definitely bummed me out, what happened to 39? Finally did some thorough finger counting and was relieved to confirm they were all wrong. Couldn't put it off this year though....Quote:
Originally Posted by St. Jerry
https://www.youtube.com/watch?v=q6hzqQHJChMQuote:
Originally Posted by iceman
I don't know shit especially moneyQuote:
Originally Posted by TahoeJ
but my money guy was telling me I only made this much money last year, I was like no I made more than that for sure, then he says look at your w2
then says something about pass through income and taxes
shit doesn't make sense, I don't think I've filed taxes in twenty years, I don't know what one of those forms look like, its always best to pay someone to take care of that crap
That’d be Lone Pine Mall, you pine killer!Quote:
Originally Posted by El Chupacabra
This makes no sense.Quote:
Originally Posted by Marshall Tucker
Sent from my moto x4 using Tapatalk
Great Scott!Quote:
Originally Posted by BCMtnHound
Did mine today. $2100 fed refunded. $500 state refunded. About $500 more than usual. New tax deduction works for me!
Sent from my iPhone using TGR Forums
Why are you letting them keep 2k of your money until now? Change that up man.Quote:
Originally Posted by Elkhound Odin
Now that my 1099s are in, I'm looking at my taxes and I paid $1700 last year...no penalty...so that >1k penalty must have stipulations.
Got my taxes back from my accountant today. My effective tax rate went down 3.5%. Due to a great year, our wages had increased 20%. There was absolutely no reason for my tax rate to decrease. It should have increased or stayed the same.
Yup, the dentists kids can still make bank. I think it's like $8,500 under the new code. MODELS!!!Quote:
Originally Posted by wooley12
Sent from my SM-N950U using Tapatalk
What’s your guys number?Quote:
Originally Posted by jackstraw
My effective went up 1%. Earnings went up 3%. I like your numbers better.
Our fed taxes went down since we are a pass thru
Getting killed this year cuz they disco'd our breeder deductions. Hurts my heart as our effective rate used to be in the high single digits. But, really, watcha gonna do? They're gonna get you coming or they're gonna get you going but they're gonna get you either way...
"We don't pay taxes; only the little people pay taxes"
leona helmsley
can't wait for someone to try to do my taxes so I can go buy a new bike april 16th, money bags won't let me buy anything until then
I got audited once, probably get it again in the next year or two, it's like sticking crayons up your nose, thankfully I'm an idiot so all of that works to your advantage while getting audited
took like a year and they kept wanting it to go faster, kept demanding I speed shit up, I was like bro, help me out
my favortie line was always, "huh, really? that's weird"
they put me in this hot room down in denver with three guys and kept fucking with me
less than 1% of the population gets audited, and 5% of the population ends up in bed and the chick has a stick, I'm a pretty unlucky guy
More than Amazon, Netflix, GM, and most likely Trump and less than Patagonia.Quote:
Originally Posted by Ottime
My effective tax rate went down by about 10% compared to last year. All of the people on my team, who make less and are not partners (i.e. not benefiting from LLC pass thru income), will have a higher tax rate. So messed up. FWIW, our founder gave them extra bonuses to make up the difference, but I suspect most are not so fortunate.
+1 on that.Quote:
Originally Posted by jackstraw
My wife and I owe $6200. Fucking hell. We got married and both got significant raises in 2018 but I didn't see that coming, I usually get a few hundred back and she's owed up to $1k in the past. We're both claiming no exemptions already, guess we're changing that to withdraw as if single. She makes too much for her student loans interests to be deductible. We have two mortgages. HSA and 401k contributions maxed on her end. I don't have a retirement plan at work and overcontributed to my Roth, in the process of re-classifying most of the contributions as traditional.
Not psyched about taxes this year...
I used to do mine with pencil and paper, figured if I can do calculus I could do taxes. But switched to turbo tax when things got more complicated...rental income, long and short capital gains, couple different 1099's, business deductions. I still get cranky with the software, but overall ok. Use the its deductible webpage like someone mentioned for donations, that is nice, but clunky.
I typically get a big refund because my company taxes my end of year bonus as if it was a normal paycheck and its amount is 1/26 of my salary, so 37% Fed + 10% State. I tried to explain to the accounting person they can do it like normal, but I don't think their software allows or there is a lack of understanding. Didn't want to make to big a fuss, because they could just not give me a bonus :-).
Effective tax rate is the number people should look at, not refund or owe amount. Our rate went down this year, but wife did not work for 4 months and I did not work for 3 months due to new baby. So we didn't get hit with AMT & got less limited deductions for kids.
FWIW for procrastinators, for active junky has 10% cash back on TurboTax and other tax software.
https://www.activejunky.com/retailer/turbotax
I don't really know how I did tax wise compared to last year since we made less this year than last, but our CPA charged us a couple hundred less, so thank the tax cut bill for that. No itemized deductions, no AMT calculation.
Saving a few hundred per year is great, but my descendants will be paying for the bill unto the 10th generation (assuming there is a 10th generation; I'm not optimistic.)
Need a little help understanding something. We have been owing a lot the last couple years. Wife’s HR talked her into filling out the new and improved W4 last winter and she did it correctly, not faulting her one bit, so we really, really owe. We are a 4 person house that basically claimed 3 on our combined W4’s a so yeah we owe thousands more.
Ok here’s what I am here to ask about. Last year I grabbed a small side gig. Knowing we have been owing a lot of taxes, I filled out the W4 for this to basically take all of it for taxes. Here’s the numbers:
Gross $2,833.80 (soc and med wages had same gross)
Fed Tax Withheld: $2,099.07
Soc Sec 175.70
Medi $41.09
State $300
State transit tax $2.82
Net Take Home $215.12
Why did this job only lower my tax obligation by $1600sh (I wish I would have written the number down) and not closer to $2000 when only $215.12 should be taxable income?
We are in the 22% bracket (with or without this side income) so I would think that what we owe to the Feds should have been $2,051 less. What am I not understanding?