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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%
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Old 02-26-2019, 07:50 PM   #201
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Lost out? Lmao, oh man- You mean like the 70, 80, 90, 95% on the other side of your same coin that were negatively affected on their 2017 taxes in relation to 2018 with the new tax law?

Not only do you continue to not try to understand or comprehend the changes and look at the big picture, you then try to spin it the other way that a small percent are negatively affected. Someone always gets dumped on, not everyone is gonna win.

In your specific case, writing off a shitload of stuff, you were actually having others be the ones sort of carrying your tax burden based on your job and living situation, but here you are looking for sympathy from those same people. If anyone gets to be angry here, it would be the ones who DON'T get 10k back but have similar salaries and now your loop hole has closed- aka the tax market realigned.
WTF are you even arguing? Spinning? Let's make one fucking thing clear here.
I AM NOT A BURDEN TO ANYONE. I told my story. You choose to not believe me. I have not had any significant financial gains to warrant paying more taxes. I am the epitome of a broke dick middle class schmuck and somehow this new tax law has negatively affected me. Aren't you paying more taxes? And you seem happy and defending this new tax law? Repeat after me "I am getting fucked by the government and I love it!!"
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Old 02-26-2019, 07:56 PM   #202
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I think Gladiator needs a new accountant? How could he possibly pay a higher tax rate? His standard deduction went UP. What part of the tax law increased his tax burden? Anybody have any ideas?
You prolly didn't read the thread so I'm not gonna repeat my situation.

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Did you fucking bitch and moan when the Bush tax cuts expired in 2010? Probably not, because the media led you to believe that "The Bush tax cuts are rich people tax cuts!" when in reality, he cut taxes for everyone.
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Old 02-26-2019, 08:12 PM   #203
 
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WTF are you even arguing? Spinning? Let's make one fucking thing clear here.
I AM NOT A BURDEN TO ANYONE. I told my story. You choose to not believe me. I have not had any significant financial gains to warrant paying more taxes. I am the epitome of a broke dick middle class schmuck and somehow this new tax law has negatively affected me. Aren't you paying more taxes? And you seem happy and defending this new tax law? Repeat after me "I am getting fucked by the government and I love it!!"
Most of the people I know are paying much less in taxes now, it seems to have mostly affected people that use a ton of write offs, its hard to believe people were writing off more than 24k as a normal middle class person

How much federal tax did you end up getting stuck paying?
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Old 02-26-2019, 08:33 PM   #204
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WTF are you even arguing? Spinning? Let's make one fucking thing clear here.
I AM NOT A BURDEN TO ANYONE. I told my story. You choose to not believe me. I have not had any significant financial gains to warrant paying more taxes. I am the epitome of a broke dick middle class schmuck and somehow this new tax law has negatively affected me. Aren't you paying more taxes? And you seem happy and defending this new tax law? Repeat after me "I am getting fucked by the government and I love it!!"
I'm not choosing to "not believe" you on anything here, I 100% believe your situation. I'm saying again that you are so blinded by the situation you refuse to acknowledge the facts of the big picture here.

Your overall tax owed before deductions (the big picture) should be less than 2017 if you made the exact same amount for 2018. It is literally basic multiplication and addition to figure this out. Shocking to find out, but you don't need an accountant to see this for yourself.

Your deductions got cut, which is why you got screwed, end of story. However, some of those deductions and loopholes you were getting over the years weren't exactly fair to the "whole". Don't even get me started on the double dipping thing like @N20GT pointed out. People out here get big mad when corporations get tax cuts etc, people just do it on a micro scale to compare. Again, take advantage when you can, but when they are gone they are gone.

I'm paying more because i sold stock, my wife didn't have state taxes taken out properly, and she works a small part time gig and no federal gets taken out. But hey, I'm not getting a bigger refund so I'm getting screwed right? If this was 2017 taxes I'd be owing another 2-3k overall given the exact same numbers for 2018. THATS why i'm not out here bitching.
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Old 02-26-2019, 08:46 PM   #205
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I paid more in taxes. I knew I would. This is my swan song year in Illinois, so whatever.

The Trunp plan was in part to even the playing field for tax payers. Illinois, New York, and California got special discounts from Federal to State taxes. Other States, not so much.

Discount go bye-bye. I am so good with that. Finally as it should be.
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Old 02-26-2019, 09:13 PM   #206
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Most of the people I know are paying much less in taxes now, it seems to have mostly affected people that use a ton of write offs, its hard to believe people were writing off more than 24k as a normal middle class person



How much federal tax did you end up getting stuck paying?


Most, not all. I am really shocked that very few itemize here. I guess thatís why nobody understands my situation?

I paid whatever was required for my taxable income which is higher. Not because I got a big raise and not because I got a big bonus.
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Old 02-26-2019, 09:15 PM   #207
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I paid more in taxes. I knew I would. This is my swan song year in Illinois, so whatever.

The Trunp plan was in part to even the playing field for tax payers. Illinois, New York, and California got special discounts from Federal to State taxes. Other States, not so much.

Discount go bye-bye. I am so good with that. Finally as it should be.


Another one that is happy they are paying more taxes. Bizarro world. And I am being called a dummy?
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Old 02-26-2019, 09:18 PM   #208
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You don't get out of Illinois much, do you?

The REST of the 50 States don't GET the deduction you should NOT have gotten for the last 20 years.

Deal with it. Crybaby.
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Old 02-26-2019, 09:51 PM   #209
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You don't get out of Illinois much, do you?

The REST of the 50 States don't GET the deduction you should NOT have gotten for the last 20 years.

Deal with it. Crybaby.


Another tax expert taking it in the ass and loving it
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Old 02-26-2019, 10:03 PM   #210
 
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Most, not all. I am really shocked that very few itemize here. I guess thatís why nobody understands my situation?

I paid whatever was required for my taxable income which is higher. Not because I got a big raise and not because I got a big bonus.
I always did it itemized until this year, I never got up to 24k in deductions itemized but I got close, no need for me to itemize anymore now that the standard deduction doubled
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Old 02-27-2019, 06:39 AM   #211
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Another tax expert taking it in the ass and loving it
Hey dipsh!t.

I left.

Loved nothing. Fuck you and everyone still in Illinois to pay for the gap I just added to.

Now YOU can pick up the slack I just added to.
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Old 02-27-2019, 07:03 AM   #212
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good god this fucking thread is still going
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Old 02-27-2019, 07:03 AM   #213
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sup @Turk
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Old 02-27-2019, 07:16 AM   #214
 
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Old 02-27-2019, 07:19 AM   #215
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Hey dipsh!t.



I left.



Loved nothing. Fuck you and everyone still in Illinois to pay for the gap I just added to.



Now YOU can pick up the slack I just added to.


FU2

I would be cool with building a wall between IL & IN with the extra tax I am paying.
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Old 02-27-2019, 07:21 AM   #216
 
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FU2

I would be cool with building a wall between IL & IN with the extra tax I am paying.

Sorry, walls are immoral.
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Old 02-27-2019, 07:23 AM   #217
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Sorry, walls are immoral.
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Old 02-27-2019, 07:23 AM   #218
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FU2

I would be cool with building a wall between IL & IN with the extra tax I am paying.
Not the sharpest knife in the drawer, are you?
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Old 02-27-2019, 07:33 AM   #219
 
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I'm not a tax expert or a financial expert. I'm having a very hard time understanding how I'm getting fucked to the tune of about a $5k-$6k difference. Combined we made roughly $30k more this year, I took home $12 more per week my wife about $5. I itemize and our yearly tax return last 5yrs ranged from $3800-$5200. We owe $1200 and some change this year. Our son is still eligible as a dependent so we didnt lose the child credit.

Called our tax guy we use for the business, he said bring him our paperwork and he would try to work his magic. I have talked to a few people who have a similar issue. One friend filed "Legally separated" and combined they rcvd more than last year. She claimed their kid and he claimed the house and other shit. He said the person who does his taxes told him to go that route. I guess the way it works is you or your spouse supposedly moved out and you havent lived together for at least 6 months. Claims the IRS would have a hard time proving otherwise if they were to get audited. I'm not going to do that as knowing my luck I would get caught.
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Old 02-27-2019, 07:55 AM   #220
 
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All i know is that for an outside sales person not being able to write off miles is a huge fucking deal. Time to start an LLC for this year.
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Old 02-27-2019, 08:16 AM   #221
 
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All i know is that for an outside sales person not being able to write off miles is a huge fucking deal. Time to start an LLC for this year.
That was a HUGE part of my itemizing last few years
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Old 02-27-2019, 08:23 AM   #222
 
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I'm not a tax expert or a financial expert. I'm having a very hard time understanding how I'm getting fucked to the tune of about a $5k-$6k difference. Combined we made roughly $30k more this year, I took home $12 more per week my wife about $5. I itemize and our yearly tax return last 5yrs ranged from $3800-$5200. We owe $1200 and some change this year. Our son is still eligible as a dependent so we didnt lose the child credit.

Called our tax guy we use for the business, he said bring him our paperwork and he would try to work his magic. I have talked to a few people who have a similar issue. One friend filed "Legally separated" and combined they rcvd more than last year. She claimed their kid and he claimed the house and other shit. He said the person who does his taxes told him to go that route. I guess the way it works is you or your spouse supposedly moved out and you havent lived together for at least 6 months. Claims the IRS would have a hard time proving otherwise if they were to get audited. I'm not going to do that as knowing my luck I would get caught.
What bracket is your additional $30k in? $30k more in the $77k-$165k tax bracket would be an additional $6,600 in taxes based on the 22% rate for that bucket. With the old rates that $6,600 would have been $7,500 at 25%.

Also, did you itemize or take the $24k standard deduction.

I wouldn't mess with the legally separated BS (unless true of course). Not like you'd go to jail if caught, but the IRS would fuck your wallet in the ass real bad with fines/interest/back charges if they ever caught on (which they likely wouldn't, but still not worth it). I don't think it would be hard to prove though depending on far the special agents wanted to take their investigations. If your spouse wasn't living with you, where were they living? If they don't see rent or mortgage payments in your banking details, who were they living with? Will that person sign a sworn affidavit that they were living there for free? If they subpoena their phone records would it show their cell phone at that location most nights?

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Old 02-27-2019, 10:30 AM   #223
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All i know is that for an outside sales person not being able to write off miles is a huge fucking deal. Time to start an LLC for this year.


My wife showed me a thread on FB about the same topic. Some people are claiming they are still doing mileage and have gotten their refunds already. They donít specify if they are 1099s but it has gotten me wondering if an accountant wonít do it but if you file yourself you can still do it and roll the dice? Dunno. Need a real CPA in here to answer questions.
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Old 02-27-2019, 10:59 AM   #224
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married, 3 kids, claim 0 throughout the year, non home owner,

getting back more than last year. i is pleased.
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Old 02-27-2019, 11:12 AM   #225
 
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What bracket is your additional $30k in? $30k more in the $77k-$165k tax bracket would be an additional $6,600 in taxes based on the 22% rate for that bucket. With the old rates that $6,600 would have been $7,500 at 25%.

Also, did you itemize or take the $24k standard deduction.

I wouldn't mess with the legally separated BS (unless true of course). Not like you'd go to jail if caught, but the IRS would fuck your wallet in the ass real bad with fines/interest/back charges if they ever caught on (which they likely wouldn't, but still not worth it). I don't think it would be hard to prove though depending on far the special agents wanted to take their investigations. If your spouse wasn't living with you, where were they living? If they don't see rent or mortgage payments in your banking details, who were they living with? Will that person sign a sworn affidavit that they were living there for free? If they subpoena their phone records would it show their cell phone at that location most nights?

Correct we fall in to the tax bracket you mentioned.
I itemized (around $21k) like I do every year but didnt hit the $24k mark, so I would have to take the standard deduction. I'm sure I could come up with another $4k-$5k in itemizing by adding mileage and other shit. But dont want to raise no red flags. Now if my business accountant decides to do that with our personal taxes, I wont argue with him as he knows best.

No thoughts at all about doing what my buddy did. I'd rather pay the $1200 than take that chance.
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