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      03-20-2019, 07:36 PM   #67
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Originally Posted by jmg View Post
We're either paying for the illegals or the wall. Either way, we're paying.
Wall is cheaper
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      03-20-2019, 07:39 PM   #68
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Originally Posted by Jockey View Post
Because all the Democrats want to do is raise taxes to pay for illegals. According to you.

Have you ever thought of being a Breitbart contributor?
Well that what the majority are pushing from the local, state and federal platform. It so blatant that they declare themselves sanctuary cities which is code name for I'm going to ignore the federal law
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      03-20-2019, 07:43 PM   #69
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Quote:
Originally Posted by ynguldyn View Post
This reply is just basic fiscal and political incompetence.

First, the taxation. Even if somehow TCJA is repealed, most people will either benefit or won't see any major difference. The big winners of TCJA are the top 1-2 percent. I'm guessing people like jmg and myself are seeing the crumbles of that juicy pie. Personally, I have no doubt those people will survive.

But let's be real: the chances of that happening are zero. The near-term demographic situation in the country guarantees that the Senate will be under Republican control for at least the next decade. Only a major party realignment or the mass migration of Democratic voters (read: non-whites) to rural states will change that. This is not going to happen any time soon. So TCJA is safe until it expires. The real fight will be in 2025 when lots of income tax changes revert to pre-TCJA by default. There will be a lot of political energy to do something about taxes at that time, and the only way for the 2020 election to have an effect on that fight is for the clown to fulfill the dreams of his Reddit sycophants and become an actual God Emperor.

Now, looking at the spending side. It's much easier to explain.

Things that matter:
- Military
- Social Security
- Medicare
- Interest on federal debt

Things that don't matter:
- Everything else, including DHS.
I don't believe in scared cows everything in that list should be drastically cut and the government should be promoting policy that reduce the burden on the tax payer such as dealing with illegals that burden our system.
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      03-20-2019, 07:46 PM   #70
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Originally Posted by .2pdk View Post
OMG, some folks are unhappy and some folks are happy.

Trump is toast.
I know!! Once word gets out that some blue staters actually benefitted from his policies, he’s d-u-n ... dun... again, you just can’t make this stuff up.
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      03-20-2019, 07:48 PM   #71
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Originally Posted by NormanConquest View Post
I don't believe in scared cows everything in that list should be drastically cut and the government should be promoting policy that reduce the burden on the tax payer such as dealing with illegals that burden our system.
This is just a sequence of words that have zero meaning when put together.

I loved the "scared cows" part though.
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      03-20-2019, 08:05 PM   #72
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I am self employed and loving 199A as well as living in a state with no state income taxes. I also don’t have a lot of mortgage interest and have been in our house for 17 years so property taxes are modest compared to many. The higher standard deduction + lower rates offset any loss of itemized deduction and personal exemptions. Tax reform working well for us - well enough that is actually makes sense for my wife to return to work, which she did.

If you are self employed and not seeing a significant benefit from 199A, there are three reasons I can think of: (a) high enough income that the benefit was phased out, (b) your CPA previously putting you in a structure to minimize (underpay) self employment taxes, a loophole that I understand has now been closed so the increase in self employment tax this year is partially offsetting the 199A benefit, or (c) massive loss of SALT deductions in a high tax state due to cap and personal exemptions (or some combination of those 3).
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      03-20-2019, 08:29 PM   #73
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Quote:
Originally Posted by jmg View Post
Trump is in real trouble, because a lot of red states thought he was in their corner. They didn't see what a lot of us did: he wasn't in the red state's corner as much as he was in the upper class and corporate corner. How do you think a liberal-ish upper-middle class democrat-leaning Californian like me can pay SIGNIFICANTLY less taxes for '18? The Red states have been duped.
I have to agree.
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      03-20-2019, 08:31 PM   #74
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Originally Posted by NormanConquest View Post
Wall is cheaper
But is it effective?
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      03-20-2019, 08:33 PM   #75
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Originally Posted by Run Silent View Post
I live in a red state and I paid substantially less in taxes this year. I don't feel duped.

Correction, lower and middle class have been duped.
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      03-20-2019, 08:41 PM   #76
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Originally Posted by jmg View Post
But is it effective?
Absolutely! Want proof? Are the walls that surround you inside your house effective?
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      03-20-2019, 08:42 PM   #77
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Quote:
Originally Posted by ynguldyn View Post
This is just a sequence of words that have zero meaning when put together.

I loved the "scared cows" part though.
They are fearing AOC telling them not to fart : )
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      03-20-2019, 08:56 PM   #78
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Quote:
Originally Posted by NormanConquest View Post
Quote:
Originally Posted by Jockey View Post
Because all the Democrats want to do is raise taxes to pay for illegals. According to you.

Have you ever thought of being a Breitbart contributor?
Well that what the majority are pushing from the local, state and federal platform. It so blatant that they declare themselves sanctuary cities which is code name for I'm going to ignore the federal law
Got any proof or again just going by Breitbart headlines?
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      03-20-2019, 09:04 PM   #79
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Originally Posted by NormanConquest View Post
Absolutely! Want proof? Are the walls that surround you inside your house effective?
Maybe if the US had a roof that would be a slightly less comical analogy.
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      03-20-2019, 09:10 PM   #80
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Originally Posted by NormanConquest View Post
Well that what the majority are pushing from the local, state and federal platform. It so blatant that they declare themselves sanctuary cities which is code name for I'm going to ignore the federal law
You better kiss the feet of "sanctuary cities" that they carry a burden that could have easily fallen on the shoulders of those with the luxury of geography neither earned by merit, nor hard work. It's easy to criticize from a bubble.
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      03-20-2019, 09:17 PM   #81
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Quote:
Originally Posted by jmg View Post
Quote:
Originally Posted by NormanConquest View Post
Absolutely! Want proof? Are the walls that surround you inside your house effective?
Maybe if the US had a roof that would be a slightly less comical analogy.
Simpsons did it
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      03-20-2019, 09:18 PM   #82
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Quote:
Originally Posted by Jockey View Post
Quote:
Originally Posted by jmg View Post
Quote:
Originally Posted by NormanConquest View Post
Absolutely! Want proof? Are the walls that surround you inside your house effective?
Maybe if the US had a roof that would be a slightly less comical analogy.
Simpsons did it
That ended well too!
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      03-20-2019, 09:38 PM   #83
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This is too funny... our lefties aren’t going to vote for Trump... Egads, the horrors. They’re sure this will be devastating to him, lol... He’s going down! And they know this as sure as they knew he didn’t stand a chance the last time. Bwahaha
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      03-20-2019, 09:45 PM   #84
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Originally Posted by ****** View Post
This is too funny... our lefties arenít going to vote for Trump... Egads, the horrors. Theyíre sure this will be devastating to him, lol... Heís going down! And they know this as sure as they knew he didnít stand a chance the last time. Bwahaha
Your MAGA hat is looking a little dirty.
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      03-21-2019, 05:21 AM   #85
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Quote:
Originally Posted by jmg View Post
Your MAGA hat is looking a little dirty.
This one looks clean as a whistle...


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      03-21-2019, 06:40 AM   #86
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I live in NYC. While I have appreciated more in my paycheck, I'm going to take a hit with the property and city tax change. I am also a business owner so I am curious to see how I fare out. As long as the businesses make, I owe (S Corps). So it's a matter of owing less. Stay tuned.
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      03-21-2019, 08:17 AM   #87
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Quote:
Originally Posted by Run Silent View Post
You need a better accountant. My company (C-Corp) earned a bottom line net income every quarter and we received a tax benefit (negative tax - owed less than zero) every quarter.

I cannot reveal Q4 numbers yet, but here are the Q1-Q3 numbers (in 000's):

Q1:
Revenue: 482,332
Net Income: 56,941
Tax (expense)/Benefit: 16,995

Q2:
Revenue: 528,918
Net Income: 74,642
Tax (expense)/Benefit: 10,765

Q1:
Revenue: 447,871
Net Income: 11,894
Tax (expense)/Benefit: 19,544
Does company have net loss carryforwards, FTCs or some other special tax credit?
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      03-21-2019, 08:21 AM   #88
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Quote:
Originally Posted by Run Silent View Post
You need a better accountant. My company (C-Corp) earned a bottom line net income every quarter and we received a tax benefit (negative tax - owed less than zero) every quarter.

I cannot reveal Q4 numbers yet, but here are the Q1-Q3 numbers (in 000's):

Q1:
Revenue: 482,332
Net Income: 56,941
Tax (expense)/Benefit: 16,995

Q2:
Revenue: 528,918
Net Income: 74,642
Tax (expense)/Benefit: 10,765

Q1:
Revenue: 447,871
Net Income: 11,894
Tax (expense)/Benefit: 19,544
Quote:
Originally Posted by RickFLM4 View Post
Does company have net loss carryforwards, FTCs or some other special tax credit?
Yes, I'm lost too. So you didn't pay any tax installments, but you are getting a refund? SR&ED? Utilizing losses from acquired companies?
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