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So, was your tax liability higher or lower this year?

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So, was your tax liability higher or lower this year?

 
Old 02-10-2019, 03:04 PM
  #21  
PeterK
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Originally Posted by 69L46 View Post



So will you.
I was screwed anyway because of the unexpected sale of the company precipitated by the divorce of one of the partners whose wife demanded cash here and now. You don't do such a thing on a whim
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Old 02-10-2019, 03:05 PM
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Originally Posted by Dr Bee View Post
Or..... a president that tells the truth. "Many of you will get tax cuts and some, including middle class workers, will owe more in taxes next year".
There is a reason why he changed residency status to FL. He saved bigly vs. NY.

Last edited by PeterK; 02-10-2019 at 03:07 PM.
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Old 02-10-2019, 03:06 PM
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Originally Posted by PeterK View Post
There is a reason why he change residents status to FL. He saved bigly vs. NY.
Maybe he does understand..... which means he lied (shocker!).
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Old 02-10-2019, 03:07 PM
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Originally Posted by Dr Bee View Post
Or..... a president that tells the truth. "Many of you will get tax cuts and some, including middle class workers, will owe more in taxes next year". <--- not that difficult to tell the truth (although to be fair I have no confidence in Trumps understanding of the new tax code).
Please. You don't pay attention to him anyway... shave your head and go to sleep.
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Old 02-10-2019, 03:09 PM
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I've done a draft, which will only be a couple bucks +/- off the real deal. My tax liability went up by $3394, that increase would have been $5065 using the 2017 tax law. So while my tax payment went up, I still saved $2371 under the new tax law. Thumbs up from this retired, middle class nobody.
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Old 02-10-2019, 03:10 PM
  #26  
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Originally Posted by Over9K View Post
Please. You don't pay attention to him anyway... shave your head and go to sleep.
Predictable. When you can't respond to the content.....
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Old 02-10-2019, 03:13 PM
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Originally Posted by PeterK View Post
Inquiring mind wants to know. My taxes were completely screwed up by an unexpected sale of a company which required many hours of tax attorneys to resolve, so there is no way I can compare my taxes this year vs. other years. However, the hearsay around me is that people are about $2-10K in the hole because of the loss of deductions on taxes/mortgage/etc, I mean, my state tax is higher than the entire SALT deduction.
5-figure refund

Previous years broke even
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Old 02-10-2019, 03:15 PM
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Originally Posted by ifitgoesfast View Post
5-figure refund

Previous years broke even
and your state?
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Old 02-10-2019, 03:18 PM
  #29  
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Originally Posted by Dr Bee View Post
Predictable. When you can't respond to the content.....

So you didn't get a tax cut. Call your ******' Congressman and bitch about it, little girl. After all, they're the ones actually responsible... you know, the legislators, that forced a compromise on the tax reform? Or did you actually think Trump just ******' magic'd legislation into existence?
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Old 02-10-2019, 03:23 PM
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My income stayed the same. I got $1231.00 more than last year in a refund. I have no complaints. My son who still lives in California, had to pay an additional $400 or so. On the other hand he was taking home over $50.00 more every 2 weeks. Not hard to do that math. He was really upset about it last night when we talked. The problem is people grow to expect the big refunds each year for extra money. Not a smart way to save.

Last edited by Paul Van Nest; 02-10-2019 at 03:23 PM.
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Old 02-10-2019, 03:23 PM
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Originally Posted by Red99SS View Post
6 percent state income tax bracket for sure this year.
What is this state income tax you speak of?
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Old 02-10-2019, 03:25 PM
  #32  
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Originally Posted by Over9K View Post
So you didn't get a tax cut. Call your ******' Congressman and bitch about it, little girl. After all, they're the ones actually responsible... you know, the legislators, that forced a compromise on the tax reform? Or did you actually think Trump just ******' magic'd legislation into existence?
Yawn.

Just more Trump being Trump. He doesn't seem to understand how legislation works: https://www.businessinsider.com/trum...romise-2018-10

You angry bro?
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Old 02-10-2019, 03:30 PM
  #33  
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made over 225,000 and had 2800 back last year (2017) but had to pay $2800 to the fed this year. Not happy. Live in Illinois which didn't help though getting back $900 from the state. It all came down to cut in deductions
heard from payroll quite a few folks have already adjusted for 2019. I don't think this helps Trump.

Last edited by Ted P; 02-10-2019 at 03:31 PM.
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Old 02-10-2019, 03:33 PM
  #34  
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Originally Posted by Dr Bee View Post
Or..... a president that tells the truth. "Many of you will get tax cuts and some, including middle class workers, will owe more in taxes next year". <--- not that difficult to tell the truth (although to be fair I have no confidence in Trumps understanding of the new tax code).
Name ANY President who told the truth to the American people?
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Old 02-10-2019, 03:35 PM
  #35  
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Originally Posted by Tennis & Golf Nut View Post
Name ANY President who told the truth to the American people?
Can't, they ALL lie. Not because it's difficult to tell the truth but because they want to lie. Trump is no different than any other president.
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Old 02-10-2019, 03:36 PM
  #36  
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Originally Posted by PeterK View Post
I was screwed anyway because of the unexpected sale of the company precipitated by the divorce of one of the partners whose wife demanded cash here and now. You don't do such a thing on a whim
Like most businesses, poor planning.

Should have had an Iron-Clad Buy-Sell agreement in place.

99% don't.
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Old 02-10-2019, 03:37 PM
  #37  
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Originally Posted by Dr Bee View Post
Yawn.

Just more Trump being Trump. He doesn't seem to understand how legislation works: https://www.businessinsider.com/trum...romise-2018-10

You angry bro?
Not in the least. Like I posted earlier, my 2018 income was 50% higher than 2017. I wasn't actually completely sure just how good 2018 had been until my acct showed me, as I'd just been keeping my head down and workin'. He managed to prepare me as well as could be managed, given the nature of how I earn, and the end result was not bad at all. Buying another car in the next little bit. I'm extremely pleased at the moment. I'm walkin' on sunshine, Sunshine.
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Old 02-10-2019, 03:38 PM
  #38  
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Originally Posted by PeterK View Post
Your NJ RE tax is going to put some hurting as well.
Around $6,000. Got re assessed... again... and they left us alone this time. My late 1930s dump obviously wasn't worth 600k when there's 4,000 sqft monsters going up knocking on the door of seven figures and a comparable place to mine a block over just went for $280.

A family friend from a massively rich family inherited a beach house. She wasn't especially wealthy and she had to take out a loan... to pay the TAXES while the house was selling. She not surprisingly didn't have $75,000 liquid ready to go. She immediately retired to Florida though after the sale, place went for a couple of million.
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Old 02-10-2019, 03:38 PM
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Originally Posted by Dr Bee View Post
Can't, they ALL lie. Not because it's difficult to tell the truth but because they want to lie. Trump is no different than any other president.
Of course, Trump lies, no different than every POTUS who proceeded him.

However, I think he's more honest and upfront with his beliefs.
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Old 02-10-2019, 03:40 PM
  #40  
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Originally Posted by Over9K View Post
Not in the least. Like I posted earlier, my 2018 income was 50% higher than 2017. I wasn't actually completely sure just how good 2018 had been until my acct showed me, as I'd just been keeping my head down and workin'. He managed to prepare me as well as could be managed, given the nature of how I earn, and the end result was not bad at all. Buying another car in the next little bit. I'm extremely pleased at the moment. I'm walkin' on sunshine, Sunshine.
Good. When you get all pissy and cussy I feel bad for you. I like sunshine 9k better than %#@%!&[email protected]%#$# 9k. Regarding your new car in the next little bit ...... pics or it didn't happen
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