jmohme Posted February 4, 2020 Share Posted February 4, 2020 My liberal uncle has to, for the first time in his life, pay $1200 to the IRS this year and he blames Trump. I told him it was about time he paid his share. That should keep the annoying liberal from talking to me for a while. ? 2 1 4 Link to comment Share on other sites More sharing options...
SC Tiger Posted February 4, 2020 Share Posted February 4, 2020 It's kinda funny - the Trump Tax Plan has actually highlighted some of the insane state taxes such as New York. It didn't really raise taxes for NYers as much as it eliminated the fact that they could deduct the insanely high NY state taxes from their Federal taxes. The amount they could deduct was capped at $10K. https://www.ft.com/content/72255e50-5c7c-11e9-9dde-7aedca0a081a 1 1 1 Link to comment Share on other sites More sharing options...
Historian Posted February 4, 2020 Share Posted February 4, 2020 (edited) I wish i had to pay only $1,200. As it is: From my perspective what the IRS is asking for would make Caligula blush. Edited February 4, 2020 by Historian 3 1 Link to comment Share on other sites More sharing options...
railfancwb Posted February 4, 2020 Share Posted February 4, 2020 “I had to pay $x,xxx to the IRS!” or ”I got a refund of $yy from the IRS!” Most of the time those statements refer only to the bottom line of Form 1040 - where the incremental results show up. The actual amount of tax is several lines up. The entire system has been Structured and presented to cause people to focus only on that bottom line and overlook the actual tax burden. 4 1 Link to comment Share on other sites More sharing options...
jmohme Posted February 4, 2020 Author Share Posted February 4, 2020 26 minutes ago, railfancwb said: “I had to pay $x,xxx to the IRS!” or ”I got a refund of $yy from the IRS!” Most of the time those statements refer only to the bottom line of Form 1040 - where the incremental results show up. The actual amount of tax is several lines up. The entire system has been Structured and presented to cause people to focus only on that bottom line and overlook the actual tax burden. Exactly! People like my uncle are stupid and actually think they are getting free money from the IRS every year whereas they are actually getting a partial payback on an interest free loan they stupidly gave to the government every paycheck. 4 1 Link to comment Share on other sites More sharing options...
Historian Posted February 4, 2020 Share Posted February 4, 2020 The ideal is to owe nothing and get nothing as a return. They don't owe you anything and you don't owe them anything. Rarely happens. This is very clear if you have ever worked as an contractor. They want that 15 percent. Depending on your state the may want a cut. Depending on your city they may ask for some (NY/NYC). Anyway the entire thing is a scam. I will never get back from social security what i paid into the system let alone a proper return on the investment. What i do is pay my taxes so the government can "help" everyone else. Sometimes it's a road, sometimes something really cool like an F-22, sometimes it's Nancy Palosi's paycheck. ? 5 1 2 Link to comment Share on other sites More sharing options...
janice6 Posted February 4, 2020 Share Posted February 4, 2020 5 hours ago, SC Tiger said: It's kinda funny - the Trump Tax Plan has actually highlighted some of the insane state taxes such as New York. It didn't really raise taxes for NYers as much as it eliminated the fact that they could deduct the insanely high NY state taxes from their Federal taxes. The amount they could deduct was capped at $10K. https://www.ft.com/content/72255e50-5c7c-11e9-9dde-7aedca0a081a Dems believe in their heart, that the money belongs to them and you're just borrowing it from them. By the way you must pay interest on their money. 5 Link to comment Share on other sites More sharing options...
holyjohnson Posted February 4, 2020 Share Posted February 4, 2020 (edited) so he is blaming President Trump because he made more and paid less and got caught? yeah, i`d say less of him is a win for you.. Edited February 4, 2020 by holyjohnson 3 1 Link to comment Share on other sites More sharing options...
Historian Posted February 5, 2020 Share Posted February 5, 2020 (edited) 33 minutes ago, holyjohnson said: so he is blaming President Trump because he made more and paid less and got caught? yeah, i`d say less of him is a win for you.. Ayep. He was trained to think that way. Edited February 5, 2020 by Historian 4 1 Link to comment Share on other sites More sharing options...
railfancwb Posted February 5, 2020 Share Posted February 5, 2020 8 hours ago, Historian said: The ideal is to owe nothing and get nothing as a return. They don't owe you anything and you don't owe them anything. Rarely happens. This is very clear if you have ever worked as an contractor. They want that 15 percent. Depending on your state the may want a cut. Depending on your city they may ask for some (NY/NYC). Anyway the entire thing is a scam. I will never get back from social security what i paid into the system let alone a proper return on the investment. What i do is pay my taxes so the government can "help" everyone else. Sometimes it's a road, sometimes something really cool like an F-22, sometimes it's Nancy Palosi's paycheck. ? Absolutely one should slightly under pay throughout the year, planning to send a small payment with the return. Why? If a person is delinquent on child support or college loan repayment or did not satisfy the ObamaCare mandate (or their spouse in a joint return has such issues) the anticipated refund will be diverted to pay on those. 2 1 Link to comment Share on other sites More sharing options...
ASH Posted February 5, 2020 Share Posted February 5, 2020 my taxes have went down , im under 10 grand owed now . 4 Link to comment Share on other sites More sharing options...
Historian Posted February 5, 2020 Share Posted February 5, 2020 2 hours ago, railfancwb said: Absolutely one should slightly under pay throughout the year, planning to send a small payment with the return. Why? If a person is delinquent on child support or college loan repayment or did not satisfy the ObamaCare mandate (or their spouse in a joint return has such issues) the anticipated refund will be diverted to pay on those. There's reason in this. If this is your situatuon this advice is spot on. 2 Link to comment Share on other sites More sharing options...
Silentpoet Posted February 5, 2020 Share Posted February 5, 2020 I have my taxes close enough that I don't care to cut it much tighter. I am at about 20 dollars per pay period worth of refund. actually 22 dollars and some odd cents this year. Not worth screwing with to get it to zero when it is that low. At least at this point in my life. 3 Link to comment Share on other sites More sharing options...
Mrs.Cicero Posted February 5, 2020 Share Posted February 5, 2020 (edited) Every year my husband's employers screw up the taxes, not paying on stipends, mistaking royalties for non-employee compensation, etc., etc. and every year I have to mess around fixing their mistakes and with farm and self-employment BS. The whole disaster inevitably costs me several DAYS of work... Days I could be spending doing something productive, earning some money, increasing the GDP, whatever. The system is rigged and retarded and I hate it. Edited February 5, 2020 by Mrs.Cicero typo 3 Link to comment Share on other sites More sharing options...
Walt Longmire Posted February 6, 2020 Share Posted February 6, 2020 I really dislike sitting in my office getting my tax stuff ready. I'd rather be greasing the Kenworth, and that ain't no picnic. 1 Link to comment Share on other sites More sharing options...
ASH Posted February 7, 2020 Share Posted February 7, 2020 farming taxes is a big pain in the ass. 1 Link to comment Share on other sites More sharing options...
Historian Posted February 8, 2020 Share Posted February 8, 2020 (edited) 50 minutes ago, ASH said: farming taxes is a big pain in the ass. I guess i have a soft spot in my heart for you farmers. Thank God for them. I ate dinner because of them. But what a hard way to make a living. I admire their hard work tremendously. Edited February 8, 2020 by Historian 2 Link to comment Share on other sites More sharing options...
railfancwb Posted February 8, 2020 Share Posted February 8, 2020 37 minutes ago, Historian said: I guess i have a soft spot in my heart for you farmers. Thank God for them. I ate dinner because of them. But what a hard way to make a living. I admire their hard work tremendously. And it is a dangerous way to make a living as well. Working alone. Often with old patched up equipment. Sun to sun or even longer. Tired often makes careless. Link to comment Share on other sites More sharing options...
Historian Posted February 8, 2020 Share Posted February 8, 2020 I had a rather terse cousin who used to describe my side of the family as a bunch of failed farmers. To be fair. She was really my dad's cousin and she passed away about two years ago. None-the-less: I never thought that was an insult. Just the result of the fickle nature of making your living growing food. Guess she was never hungry and never questioned where her food came from. 1 Link to comment Share on other sites More sharing options...
Historian Posted February 8, 2020 Share Posted February 8, 2020 1 minute ago, railfancwb said: And it is a dangerous way to make a living as well. Working alone. Often with old patched up equipment. Sun to sun or even longer. Tired often makes careless. No doubt. But i admire a person who's willing to take those risks. Perhaps i've taken a romantic view of it. A farmer once told me that. But she had lovely dirty calloused hands of someone who seriously worked for everything she had. 'Whether tis nobler in the mind to suffer the slings and arrows of outrageous fortune. Or to take arms against a sea of troubles, And by opposing end them." Every seed is a risk. 2 Link to comment Share on other sites More sharing options...
railfancwb Posted February 8, 2020 Share Posted February 8, 2020 There are bunches of farms with chicken barns in this area. Many of the barns Are no longer in use. The others are producing for Tyson’s. Link to comment Share on other sites More sharing options...
Historian Posted February 8, 2020 Share Posted February 8, 2020 Just now, railfancwb said: There are bunches of farms with chicken barns in this area. Many of the barns Are no longer in use. The others are producing for Tyson’s. We have taken this thread off topic. But chicken production really is a big ticket item. And companies like Tyson's are begging for more producers....but it is a bit ugly the way it's done. 1 Link to comment Share on other sites More sharing options...
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