Angry ginger Posted April 15, 2019 Share Posted April 15, 2019 Just now, Highmark said: Just because you lose some deductions doesn't mean its best to take the standard. The loss is the difference between state and property tax over the cap. That's it. If he had numerous other deductions totaling greater than $24K he should still itemize. what exactly would those be. SALT capped at 10k so unless he has a big ass mortgage or gave away ten thousand to charity it's not better. Itemizing as a percent of returns files will be small Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 15, 2019 Share Posted April 15, 2019 Just now, Highmark said: He has no dependent children. Child tax credit doubled. Remember its not a deduction but a credit you get full credit for. child tax credti goes away at 17 for some stupid reason not 18 so that hurt me this year. Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 15, 2019 Share Posted April 15, 2019 (edited) 50 minutes ago, Snoslinger said: where did i state i'm mad that other middle classer got more help? link the post or stfu. you always did have a reading comprehension problem. i am not mad that other middle classers got breaks. good for them. i am mad at the new tax policy, yes. i'm middle class and instead of getting a break, or even staying the same, my taxes went up. you should see yourself from my view. any other fucking time you're defending the wealthy because you think they pay more than their share. but here you're thinking i'm one of them, and now saying "tough shit, sounds like an upper class problem"? do you ever put any thoughts into what you're about to post? time for........the self awareness thread again. that fucker is filling up quickly alot of people do that. 1. the child tax credit was there prior. 2. to use your own logic....WHY SHOULD I SUBSIDIZE YOU BECAUSE OF YOUR CHILD!! KILL YOURSELF!!!!!! 3. ill use another example of how this fucking occurs. family A, with two kids, had $24000 in itemized deductions last year from schedule A. on line 42 of last year's form, they could deduct another $16,000 (4 X $4050). that made their deductions a total of $40,000. this year, that $16K is no longer available, so their deductions are now $24K while the tax rate is a little lower, because of the loss of deductions, i am still paying in a higher percentage of taxes this year. can you imagine the shit i'd get if i was a box delivery dude in a union, with a wifey working in the gov, and claimed i made $200K a year? creepr would be going apeshit, along with many other goons. yet, not a peep. creepr and others are scared shitless of snakey dude, that is so wrong. how did you calculate that? 1. I will never defend someone based on their income. PERIOD. 2. The child tax credit was 900, now it's 2k. 3. Doesn't your spouse work in the public sector.... Edited April 15, 2019 by racer254 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 15, 2019 Platinum Contributing Member Share Posted April 15, 2019 (edited) 6 minutes ago, Angry ginger said: highmark just doesn't get anything outside his little word where if it's good for him it must be good for all. typical selfishness that has been and will continue to destroy this country. I thought people paying in more was good. Reality is without kids the major changes are deductability of state and property taxes being capped. Yes that can have an impact if you have high state and property taxes but that generally means your income is very high as well putting more money in the lower brackets to offset the deductions. Basically almost everything above $19050 is at 3% less to start. Iowa is not a low tax state so I've looked into this with great detail. Edited April 15, 2019 by Highmark Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 15, 2019 Platinum Contributing Member Share Posted April 15, 2019 2 minutes ago, Angry ginger said: child tax credti goes away at 17 for some stupid reason not 18 so that hurt me this year. For some reason I was thinking that depended on if they lived at home or not? Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted April 15, 2019 Author Share Posted April 15, 2019 (edited) 13 minutes ago, Highmark said: Well then give EXAMPLES of losses in deductions that would you fucking idiot. OMG, i have given you plenty of examples so you better understand the situation. even if i did provide my real numbers you still wouldn't get a clue. i'll try this one more time for you, slow learner. i'll throw in the personal exemptions this time. i thought biz owners were supposed to be so bright? 2017: state income taxes: 10K state real estate taxes: 10K mortage interest: 15K personal exempltions: 8K total deductions : 43K 2018 state income taxes: 10K state real estate taxes: 10K mortage interest: 15K personal exemptions (no longer available): 0 total deductions (because of 10k cap on real estate and state taxes combined): 25K you see the difference there, ya dipshit? that's $18K difference in deductions from 2017 to 2018. it's pretty clear to me you don't do your own taxes, since you're having so much difficulty here. again, these are made up numbers i provided. i don't know what the end difference is when using them. what i do know though, is that my taxes, using my real numbers, increased several percentage points. Edited April 15, 2019 by Snoslinger Quote Link to comment Share on other sites More sharing options...
Edmo Posted April 15, 2019 Share Posted April 15, 2019 3 minutes ago, Angry ginger said: child tax credti goes away at 17 for some stupid reason not 18 so that hurt me this year. X2. I did ok though. I paid a bit less. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted April 15, 2019 Platinum Contributing Member Share Posted April 15, 2019 6 minutes ago, Angry ginger said: highmark just doesn't get anything outside his little word where if it's good for him it must be good for all. typical selfishness that has been and will continue to destroy this country. Nailed it...He doesn’t get that the world doesn’t revolve around Pig Shit, Iowa. Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted April 15, 2019 Author Share Posted April 15, 2019 8 minutes ago, Angry ginger said: these people forget prior to the new $24k deduction that a family of 4 was getting 16 grand exemption plus itemizing. As i said when i did my taxes i managed to be just a bit better because of the tuition tax break but I live in a no income tax state and have a small mortgage. had i had a normal mortgage for someone in my income bracket/area or had any state taxes paid like many here who work in neighboring states I would have been worse off. exactly! you are likely the only one in here that comprehends these things. i lost $8K because of that change. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 15, 2019 Share Posted April 15, 2019 1 minute ago, Edmo said: X2. I did ok though. I paid a bit less. the 1 kid in college helped me be positive. the 17 year old will also get me that for 19 so i should do better this year. Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 15, 2019 Share Posted April 15, 2019 (edited) 9 minutes ago, Snoslinger said: exactly! you are likely the only one in here that comprehends these things. i lost $8K because of that change. Everyone comprehends it, but you are using the worst (or best) case scenario to make it look like some middle class married couple make 65k is going to lose 16 grand in exemptions because of trump. Edited April 15, 2019 by racer254 Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted April 15, 2019 Author Share Posted April 15, 2019 Just now, racer254 said: Everyone comprehends it, but you are using the worst (or best) case scenario to make it look like some middle class married couple make 65k is going to lose 16 grand in exemptions because of trump. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted April 15, 2019 Platinum Contributing Member Share Posted April 15, 2019 1 minute ago, racer254 said: Everyone comprehends it, but you are using the worst (or best) case scenario to make it look like some middle class married couple make 65k is going to lose 16 grand in exemptions because of trump. Haha...GMAFB...you didn’t comprehend any of it!!!! 😂 Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted April 15, 2019 Author Share Posted April 15, 2019 racer is it time to try another tax riddle? Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted April 15, 2019 Author Share Posted April 15, 2019 Just now, Jimmy Snacks said: Haha...GMAFB...you didn’t comprehend any of it!!!! 😂 he always pulls this shit. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 15, 2019 Platinum Contributing Member Share Posted April 15, 2019 (edited) 14 minutes ago, Snoslinger said: OMG, i have given you plenty of examples so you better understand the situation. even if i did provide my real numbers you still wouldn't get a clue. i'll try this one more time for you, slow learner. i'll throw in the personal exemptions this time. i thought biz owners were supposed to be so bright? 2017: state income taxes: 10K state real estate taxes: 10K mortage interest: 15K personal exempltions: 8K total deductions : 43K 2018 state income taxes: 10K state real estate taxes: 10K mortage interest: 15K personal exemptions (no longer available): 0 total deductions (because of 10k cap on real estate and state taxes): 25K you see the difference there, ya dipshit? that's $18K difference in deductions from 2017 to 2018. it's pretty clear to me you don't do your own taxes, since you're having so much difficulty here. again, these are made up numbers i provided. i don't know what the end difference is when using them. what i do know though, is that my taxes, using my real numbers, increased several percentage points. To pay 10K in NY state income taxes the example income would need to be in the $160K range. $10K/6.3% tax rate. $160k would put the vast majority of the deductible income in the 24% Fed bracket. $18K x 24% = $4320 loss on now non deductible income. $160K would also mean you pay 3% less on $151K or $4530 less. (actually a bit more off because some would be 4% less.) Prove my numbers wrong. Edited April 15, 2019 by Highmark Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 15, 2019 Share Posted April 15, 2019 Just now, Jimmy Snacks said: Haha...GMAFB...you didn’t comprehend any of it!!!! 😂 Do I need to list how much I am over the 10K? or the lines on the forms where you put these values? FFS, all he wanted to do was say BAD TRUMP he hurt my deductions. His sample proved what he was trying to do, and everyone saw through that. Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted April 15, 2019 Author Share Posted April 15, 2019 5 minutes ago, Highmark said: To pay 10K in NY state income taxes the example income would need to be in the $160K range. $10K/6.3% tax rate. $160k would put the vast majority of the deductible income in the 24% Fed bracket. $18K x 24% = $4320 $160K would also mean you pay 3% less on $151K or $4530 less. (actually a bit more off because some would be 4% less.) Prove my numbers wrong. omg. why are you not including deductions in any of that? the main part of my argument? Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted April 15, 2019 Author Share Posted April 15, 2019 4 minutes ago, racer254 said: Do I need to list how much I am over the 10K? or the lines on the forms where you put these values? FFS, all he wanted to do was say BAD TRUMP he hurt my deductions. His sample proved what he was trying to do, and everyone saw through that. its been obvious you couldn't grasp what happened with my deductions from the start. now trying to throw in the particular lines, on forms, to try and prove you did, is comical. keep trying though! Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 15, 2019 Platinum Contributing Member Share Posted April 15, 2019 (edited) 7 minutes ago, Snoslinger said: omg. why are you not including deductions in any of that? the main part of my argument? I'm using the exact difference in deductions you provided. $18K. Did you not state this? You gave some examples without providing a income so I back figured it for a more accurate calculation. If this examples has more than $18K difference fine but that is not what you are stating. "you see the difference there, ya dipshit? that's $18K difference in deductions from 2017 to 2018." Edited April 15, 2019 by Highmark Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 15, 2019 Share Posted April 15, 2019 (edited) 4 minutes ago, Snoslinger said: its been obvious you couldn't grasp what happened with my deductions from the start. now trying to throw in the particular lines, on forms, to try and prove you did, is comical. keep trying though! Poor fella. I am sorry you lost out on some deductions. Everyone else I know made more and paid in less. Do you ever wonder why you are the odd one out? Did you put all the money for charity that you gave? I couldn't take all my deductions for this either, but I made up for it in other spots. Sorry you couldn't. Edited April 15, 2019 by racer254 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Rigid1 Posted April 15, 2019 Platinum Contributing Member Share Posted April 15, 2019 1 hour ago, Snoslinger said: where did i state i'm mad. i am mad at the new tax policy, yes. 1. the child tax credit was there prior. 50 minutes ago, Snoslinger said: ugggh. where did i state i did? ^^^^ Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted April 15, 2019 Author Share Posted April 15, 2019 8 minutes ago, racer254 said: Poor fella. I am sorry you lost out on some deductions. Everyone else I know made more and paid in less. Do you ever wonder why you are the odd one out? Did you put all the money for charity that you gave? I couldn't take all my deductions for this either, but I made up for it in other spots. Sorry you couldn't. i'd be willing to bet you don't have a clue as to what was lost, what was gained, or anything else regarding your taxes. you dropped them off somewhere, likely got a little more $ back than years when you did the same thing. now you're running around thanking trump. even though it's possible you actually made out worse, or not as good as you think, based on %. Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted April 15, 2019 Author Share Posted April 15, 2019 (edited) 6 minutes ago, Rigid1 said: ^^^^ good god dude. ben implied that this year's child tax credit helped with the loss of exemptions, like it was something new this year. my point was that it was there before, when we could use the personal exemptions. Edited April 15, 2019 by Snoslinger Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted April 15, 2019 Share Posted April 15, 2019 Twelve pages of Kneeshot whining about “paying his fair share” Quote Link to comment Share on other sites More sharing options...
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