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View Poll Results: How did the 2018 Federal Tax Law affect you
No change 12 21.43%
I got it in the a$$ 20 35.71%
I actually received more of a refund 17 30.36%
I am a TCG 1%er and just joined Mar-A-Lago 7 12.50%
Voters: 56. You may not vote on this poll

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Old 02-13-2019, 08:22 PM   #126
 
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Why do you think itís not possible? I use a professional accountant every year.
I guess I need more info to see the big picture, I made decent money and to owe 6k i would have to have only paid 1k to federal so either you make alot or you have your deductions messed up
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Old 02-13-2019, 08:24 PM   #127
 
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also unless you own a buisness or have a shit ton of writeoffs theres no reason to use an accountant anymore
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Old 02-13-2019, 08:25 PM   #128
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Lol Juan, you cant even calculate your effective tax rate yet trump is the one lacking mental capacity.

The tax law doesn’t benefit high tax (almost always democratic) areas. This is an IL forum. So of course most people were not positively impacted

As I’ve said, I agree with this provision of the new tax law. Why should people in lower cost of living areas pay a higher ETR just because people in high tax areas like IL get all the write offs.
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Old 02-13-2019, 08:38 PM   #129
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Lol Juan, you cant even calculate your effective tax rate yet trump is the one lacking mental capacity.

The tax law doesnít benefit high tax (almost always democratic) areas. This is an IL forum. So of course most people were not positively impacted

As Iíve said, I agree with this provision of the new tax law. Why should people in lower cost of living areas pay a higher ETR just because people in high tax areas like IL get all the write offs.


What? So only people in IL have written off their miles in the past? Thatís where you are wrong. Nothing to do with a democratic state. My tax rate might have gone down but my taxable income increased by tens of thousands of dollars. Itís pretty sad you think itís OK for broke dicks like me to be taxed even more...because Iím from IL? Wow.
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Old 02-14-2019, 10:32 AM   #130
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What? So only people in IL have written off their miles in the past? Thatís where you are wrong. Nothing to do with a democratic state. My tax rate might have gone down but my taxable income increased by tens of thousands of dollars. Itís pretty sad you think itís OK for broke dicks like me to be taxed even more...because Iím from IL? Wow.
I'm guessing you took the standard deduction of 24k? Or were you still able to itemize more than that, but were just capped or not able to do it all in other areas, like your miles?

Everyone's situation is different, but looking at strictly numbers, you should have owed less tax vs last year on a basic gross income to tax owed scale.

Where people are getting screwed is on the loss of many deductions and itemization caps, which like has been mentioned, especially hurts people in high tax states. Your situation is pretty unique, i'd venture to guess the amount of people claiming miles, let alone that many is few and far between in the grand scheme of things.

The last point is sadly true that we are/were using the rest of the country to offset some of our tax liability just because we pay more property tax for example. Should be blaming our state for the screwed up amount of taxes we pay and the people in other states should be like wtf. This change/cap has shown how the system was "broken", but people like yourself are getting angry at the wrong person/party.
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Old 02-14-2019, 10:53 AM   #131
 
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I have been waiting a while to get on my soap box because I really wanted to see how others fared with the new tax law. I didn't want this to become a bitch session about my situation and just be called a Trump hater...."Ewwww...Go away, nobody likes you." To be honest, I don't even blame Trump. I don't think he has the mental capacity to grasp middle class life. I do blame the republicans for passing this bullshit and our government in general.

Statistics don't lie. That's why I created the poll. As of today 37% were negatively affected by the new tax law. Combined with the "no change " group and you have 59% of the participants in this official (LOL) TCG poll that were not helped by the new republican tax law. These are your fellow TCG folk, not some fake news shit poll I found on a Liberal Trump hate website.

You can throw tax rates at me, give me some pocket lint in my weekly paycheck, but i will have to pay $6K more in taxes. And I am a broke dick middle class guy that got fucked by corporate, lost my job, and have been fighting ever since tooth and nail to pay my bills. Im the one that gets fucked?

Statistics don't in fact lie. They are pointing that somewhere between 60 and 80% of Americans paid less taxes in 2018 due to this new law while somewhere between 5-10% did see a tax increase. The rest unchanged. Your poll is flawed right off the bat as it is based on refund, so the stats based on it mean absolutely nothing.

You gotta get it through your head man. Your refund amount means NOTHING. What you paid this year vs. last year means NOTHING. You need to calculate your 2018 taxes under the current method, and under the prior method, and that is how you determine if you got screwed or not. I'm not claiming you're not in that 5-10% that saw a tax increase. But you need to actually back up your argument with facts. Not "i got a shit refund this year" or "i paid more taxes this year."

My example for my family. I had a smaller refund this year than last year. I paid more in taxes this year than last year. I paid a higher effective tax rate this year than last year. I saved ~$500 in my taxes thanks to this new law though.

https://www.chicagotribune.com/g00/b...212-story.html

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According to the Tax Policy Center, 80 percent of filers received a tax cut and about 5 percent wound up paying more in federal income taxes. The tax cuts showed up in fatter weekly or biweekly paychecks for most Americans, but few people noticed, according to polling.

"There's a difference between taxes and your refund," said Joseph Rosenberg, a senior research associate at the Urban-Brookings Tax Policy Center at the Urban Institute. "People generally got a piece of their tax cut last year gradually in the form of lower withholding on their paychecks."

What happened to many families is they received a tax cut, but their refund is smaller this year because the IRS made major changes to the "withholding tables" - the amount the federal government recommends taking out of your paycheck for federal income taxes - because of the new tax law.

The IRS was trying to set withholding levels so that more people would pay the correct amount of taxes, meaning they neither owe anything to the IRS at the end of the year nor receive a refund.
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Old 02-14-2019, 10:56 AM   #132
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Thats the thing...the standard deduction for married couples is now $24k. You can still itemize up to $10k on state and local taxes...so in order to really be losing out on this deal you'd have to have either extreme high property taxes, or an extreme high income driving a huge state income tax.

I can see single homeowners in IL getting hurt by this, but can't be too many middle class married folks getting hit by this.

In the end...we should be fighting why our state and local taxes are so high, rather than fighting on why we can't deduct them.
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I have been waiting a while to get on my soap box because I really wanted to see how others fared with the new tax law. I didn't want this to become a bitch session about my situation and just be called a Trump hater...."Ewwww...Go away, nobody likes you." To be honest, I don't even blame Trump. I don't think he has the mental capacity to grasp middle class life. I do blame the republicans for passing this bullshit and our government in general.

Statistics don't lie. That's why I created the poll. As of today 37% were negatively affected by the new tax law. Combined with the "no change " group and you have 59% of the participants in this official (LOL) TCG poll that were not helped by the new republican tax law. These are your fellow TCG folk, not some fake news shit poll I found on a Liberal Trump hate website.

You can throw tax rates at me, give me some pocket lint in my weekly paycheck, but i will have to pay $6K more in taxes. And I am a broke dick middle class guy that got fucked by corporate, lost my job, and have been fighting ever since tooth and nail to pay my bills. Im the one that gets fucked?

I'm confused, are you still getting a refund, just 6k less than 2017?

I don't think you are looking at the bigger picture if you are saying you have to pay $6k more in taxes. You always were supposed to pay that, heck probably less with the tax bracket change but then slightly offset by your increased income this year. You were just able to deduct x amount to offset.

I'm all for people playing the tax game best they can and getting every dollar back based on the current playing field rules, you do you. What I'm not fond of is hearing how people who are in the same "middle class" with me, make roughly the same (just an example, but still holds true over a wider range in this tax bracket) and end up paying like half what I do in taxes (due to all the deductions credits etc) and act like they are the ones getting screwed at the end of the day.

I'm just completely blown away that a professional accountant hasn't been able to explain this entire thing. Not only that, they should have been able to see this coming a mile away and told you to change your withholding.

Sorry for your current situation with your job, and I'm sure this tax thing is just a nice kick in the gut to boot.
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Old 02-14-2019, 11:43 AM   #133
 
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If you have kids also that helped out some since the tax credit doubled for dependents
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Old 02-14-2019, 11:50 AM   #134
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About the same as last year. I'm not sure how some people are getting 10K+ back.
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Old 02-14-2019, 11:56 AM   #135
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Guys, you donít have to teach me about taxes. I have used professional accountants my whole life. Good ones. I just find it funny that some of you wonít believe me. Thatís why I even created the poll. I am not the only one. I am sure some smarter person will eventually do an analysis after tax season is over. Until then...my poll will have to do

Salespeople that use their own vehicles, all got fucked. Thatís my scenario. I am currently now reevaluating my career. Maybe I can find a company that supplies a vehicle for work.
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Old 02-14-2019, 12:16 PM   #136
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as others have pointed out, this thread was flawed severely from the get go, just like the "what do you pay for insurance" or "how much are your property tax" threads.

so relative it's not even close to making a worthy comparison.

we'd be better off describing what color blue the sky is from where we are at any point in time.
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Old 02-14-2019, 12:19 PM   #137
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What? So only people in IL have written off their miles in the past? That’s where you are wrong. Nothing to do with a democratic state. My tax rate might have gone down but my taxable income increased by tens of thousands of dollars. It’s pretty sad you think it’s OK for broke dicks like me to be taxed even more...because I’m from IL? Wow.
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Guys, you don’t have to teach me about taxes. I have used professional accountants my whole life. Good ones. I just find it funny that some of you won’t believe me. That’s why I even created the poll. I am not the only one. I am sure some smarter person will eventually do an analysis after tax season is over. Until then...my poll will have to do

Salespeople that use their own vehicles, all got fucked. That’s my scenario. I am currently now reevaluating my career. Maybe I can find a company that supplies a vehicle for work.
Most salespeople that use their own vehicles are given an allowance by the company. And to get an allowance, and also claim $.54/mile to the IRS, is double dipping and frankly you shouldn't get that tax credit. That's why it's gone now. If you're w2'd (not 1099'd) through your company and you do not get an allowance, and are required to use your own car, you are getting fucked. Not by the IRS, but by your company. With a 1099 you could write off miles.

Let's loosely base a scenario off of your example, using some made up numbers. Call it an $80k w2'd household. 2 kids, husband, wife in IL. As far as writeoffs go figure $10k in property taxes, another $10k in mileage, plus random odds and ends, call it $30k total in itemizations (based on the old tax law obviously).

$80k is about $53k take home. How on earth could anyone reasonably believe that a house of 4 that pockets $53k cash throughout the year would have $30k in itemizable expenses that they shouldn't need to pay taxes on? Are we really expected to believe that the $23k balance is all that was needed to make car payments, buy groceries, pay utilities, pay for gas, pay down mortgage principal, go out to eat, etc? Not a chance
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Old 02-14-2019, 12:37 PM   #138
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The man just makes sense
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Old 02-14-2019, 12:58 PM   #139
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Guys, you donít have to teach me about taxes. I have used professional accountants my whole life. Good ones. I just find it funny that some of you wonít believe me. Thatís why I even created the poll. I am not the only one. I am sure some smarter person will eventually do an analysis after tax season is over. Until then...my poll will have to do

Salespeople that use their own vehicles, all got fucked. Thatís my scenario. I am currently now reevaluating my career. Maybe I can find a company that supplies a vehicle for work.
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Most salespeople that use their own vehicles are given an allowance by the company. And to get an allowance, and also claim $.54/mile to the IRS, is double dipping and frankly you shouldn't get that tax credit. That's why it's gone now. If you're w2'd (not 1099'd) through your company and you do not get an allowance, and are required to use your own car, you are getting fucked. Not by the IRS, but by your company. With a 1099 you could write off miles.

Let's loosely base a scenario off of your example, using some made up numbers. Call it an $80k w2'd household. 2 kids, husband, wife in IL. As far as writeoffs go figure $10k in property taxes, another $10k in mileage, plus random odds and ends, call it $30k total in itemizations (based on the old tax law obviously).

$80k is about $53k take home. How on earth could anyone reasonably believe that a house of 4 that pockets $53k cash throughout the year would have $30k in itemizable expenses that they shouldn't need to pay taxes on? Are we really expected to believe that the $23k balance is all that was needed to make car payments, buy groceries, pay utilities, pay for gas, pay down mortgage principal, go out to eat, etc? Not a chance
I don't think anyone here doesn't believe you that you owe more taxes. What most people here seem to believe is that you don't understand taxes and are up on your soap box (now off?) with a very misinformed/skewed view.

Thats an awful lot of professional accountants you have used over the years and some random dudes on a car forum seem to be explaining the situation more clear than they have or are.

Also- using your poll on tcg as the baseline is just as offbase as using a politically biased one considering this forum is made up of a large majority of the exact people and situations who likely got screwed this year on taxes lol
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Old 02-14-2019, 01:06 PM   #140
 
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I officially did mine just now, not going off the estimate from throwing some numbers in quick like I was before, getting 4500 from federal which is about 1500 more than normal, but I made almost 20k more than in past years so that makes sense, the child credit really helped me out without that I would have got 500 back

After it’s all said and done I only paid 5900 to federal taking my refund from what I actually paid
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Old 02-14-2019, 01:06 PM   #141
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You’re missing the point.

Orange man bad, am I right guys?
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Old 02-14-2019, 01:06 PM   #142
 
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Most salespeople that use their own vehicles are given an allowance by the company. And to get an allowance, and also claim $.54/mile to the IRS, is double dipping and frankly you shouldn't get that tax credit. That's why it's gone now. If you're w2'd (not 1099'd) through your company and you do not get an allowance, and are required to use your own car, you are getting fucked. Not by the IRS, but by your company. With a 1099 you could write off miles.

I just texted my buddy whos a salesman and he said exactly this same thing.


I don't know much about sales, but it only makes sense to work somewhere that gives you an allowance. If you do have an allowance and were writing it off previously then that's on you for double dipping and now "losing 6k" in my opinion.


Maybe I'll actually get off my ass and do mine this weekend. I'm never in a big hurry.
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Old 02-14-2019, 01:09 PM   #143
 
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If you can double dip more power to ya people should use every loophole possible to get back as much as possible, after all it is your money that you made get back as much of it as you can
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Old 02-14-2019, 01:12 PM   #144
 
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I guess Im in the minority on here honestly. I try to write off taxes and shit like that but I always end up just going with the standard deduction.


I just toss some numbers into H&R Block online, get my little refund, and call it a day.


I'm single, and my property taxes arent stupid and I don't make a ton so standard deduction was always easiest. Guessing itll be more of the same when I do this years as well.


Like it's been mentioned, I guess if you can write it off, good for you, but that's just not something that worked for me.
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Old 02-14-2019, 02:40 PM   #145
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What's really crazy is the amount of people similar to juan (the OP), posting all over social media about how trump sucks because their refund is less.

It's terrifying to me that so many people don't understand how taxes work. I'm of the opinion that anyone that only has w2'd income for the household should learn to file their own taxes. It's incredibly easy to learn
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Old 02-14-2019, 03:05 PM   #146
 
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What's really crazy is the amount of people similar to juan (the OP), posting all over social media about how trump sucks because their refund is less.

I saw someone on FB complaining that they were getting like $300 less back on their refund than they normally did, but when you added up how much more they got per week, that was like $480....


It's like "hey dummy, technically you're getting $180 more than you were.
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Old 02-14-2019, 03:13 PM   #147
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Most salespeople that use their own vehicles are given an allowance by the company. And to get an allowance, and also claim $.54/mile to the IRS, is double dipping and frankly you shouldn't get that tax credit. That's why it's gone now. If you're w2'd (not 1099'd) through your company and you do not get an allowance, and are required to use your own car, you are getting fucked. Not by the IRS, but by your company. With a 1099 you could write off miles.

Let's loosely base a scenario off of your example, using some made up numbers. Call it an $80k w2'd household. 2 kids, husband, wife in IL. As far as writeoffs go figure $10k in property taxes, another $10k in mileage, plus random odds and ends, call it $30k total in itemizations (based on the old tax law obviously).

$80k is about $53k take home. How on earth could anyone reasonably believe that a house of 4 that pockets $53k cash throughout the year would have $30k in itemizable expenses that they shouldn't need to pay taxes on? Are we really expected to believe that the $23k balance is all that was needed to make car payments, buy groceries, pay utilities, pay for gas, pay down mortgage principal, go out to eat, etc? Not a chance


I forgot you are a 1% er...

So are you mad that a dummy like me is smart enough to pay a ďfactory freakĒ professional accountant that found a legal loophole or that I actually am right about this bogus tax plan?
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Old 02-14-2019, 03:31 PM   #148
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I forgot you are a 1% er...

So are you mad that a dummy like me is smart enough to pay a “factory freak” professional accountant that found a legal loophole or that I actually am right about this bogus tax plan?
I'd also be glad to have a car allowance and a tax loophole to take advantage of, but I wouldn't be surprised when the loophole was closed. You can't honestly think that it's fair to get a car allowance, PLUS fuel reimbursement from a company, PLUS a credit of $.54/mile on your taxes from the IRS. That's a MAJOR loophole. At that point you're basically profiting off of a personal vehicle...NFW the gvt was going to let that stay forever.

Especially because people that use their vehicle for work and aren't paid for it are normally 1099'd, and they still get to write off mileage.

The new laws aren't unfair, they're logical. Sorry your loophole was closed...pay up sucka
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Old 02-14-2019, 03:48 PM   #149
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Again, fuck the little guy....cause itís fair. When you buying your G8?

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Old 02-14-2019, 04:37 PM   #150
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I'd also be glad to have a car allowance and a tax loophole to take advantage of, but I wouldn't be surprised when the loophole was closed. You can't honestly think that it's fair to get a car allowance, PLUS fuel reimbursement from a company, PLUS a credit of $.54/mile on your taxes from the IRS. That's a MAJOR loophole. At that point you're basically profiting off of a personal vehicle...NFW the gvt was going to let that stay forever.

Especially because people that use their vehicle for work and aren't paid for it are normally 1099'd, and they still get to write off mileage.

The new laws aren't unfair, they're logical. Sorry your loophole was closed...pay up sucka
I guess you are the only one in here able to communicate with the OP as he only responds and tries to troll you while avoiding taking the blame for not understanding taxes.

In that case, please let him know that he can go kick rocks and throw as big as a tantrum that he so pleases now that hes not able to "beat the system" anymore. Bonus- hes also acting like the poster child for tax season TDS as has been mentioned on here for social media examples.

But hey, fuck those guys who bought private jets though, amirite?
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