Taxes under Trump

[Rico]

Are you paying more or less this year? About the same?

[Blarg]

Don't know, I'm in the first year of incorporation. Have to have a sit down with my accountant.

[Adam]

About $2000 less in total taxes. $13K more income than 2017

[arch stanton]

Most of my earnings aren't taxed anyway. Form 2555 is a literary masterpiece

[mtangelsfan]

Don't know yet

[Adam]

30 minutes ago, arch stanton said:

Most of my earnings aren't taxed anyway. Form 2555 is a literary masterpiece

Jerk

[Taylor]

Don't know yet. The standard deduction doubled, right? I think that should help us out, since I have quite a bit of freelance income.

[Adam]

“Freelance”

[Lou]

48 minutes ago, Adam said:

“Freelance”

I just figured out who Taylor is . . . 

Mr Whitefolks!

"“She can be broke for reckless eyeballing"

 

[LAAMike]

This is part of the confusion about the Trump tax cuts - unless you made a change in your withholdings you have not seen the effect of the tax cuts.  You need to ask this question in April or October (for those of us that file an extension).  Since many on this board are located in California, the restrictions on the deductibility of SALT will certainly be an adverse effect on many.   

[RallyMo]

10 hours ago, Blarg said:

Don't know, I'm in the first year of incorporation. Have to have a sit down with my accountant.

 

[yk9001]

1 hour ago, RallyMo said:

 

omg

[Lou]

did yk just omg?

that makes me sad 

[Crampknees]

Trumps taxes remained the same at $0 but his foreign debt decreased and income skyrocketed.  

I'm paying about $4500 more. 

[Tank]

4 hours ago, Lou said:

did yk just omg?

that makes me sad 

next up on his agenda: using dude in a cool way.

[Thomas]

On 2/7/2019 at 2:04 PM, Tank said:

next up on his agenda: using dude in a cool way.

[yk9001]

27 minutes ago, Thomas said:

I love that scene

[yk9001]

MUSIC BAND

[mtangelsfan]

Pretty much payed $1000 less this year.

Not a big deal.  My argument was always that the majority of the break should have gone to the middle class.  They are the ones who drive the economy

[yk9001]

1 minute ago, mtangelsfan said:

My argument was always that the majority of the break should have gone to the middle class.

Do you think the majority of the break went to the middle class?

[Spirit]

I'm paying less.  I like that.

 

 

[Adam]

In my case it wasn't apples to apples. Because our take home income was higher we gave more, which obviously helped when we filed. 

[mtangelsfan]

1 hour ago, yk9001 said:

Do you think the majority of the break went to the middle class?

No, it went to the wealthy and it shouldn't have.

[nate]

$40k more in income this year and I owed 7k more.

Just wrote my yearly check to the IRS for $5k.  Was hoping for less this year but nope...

My wife and I are on pace to make 75k more this year, maybe that puts us into the right bracket to get all the savings passed in the bill.

[Spirit]

4 minutes ago, nate said:

$40k more in income this year and I owed 7k more.

Just wrote my yearly check to the IRS for $5k.  Was hoping for less this year but nope...

My wife and I are on pace to make 75k more this year, maybe that puts us into the right bracket to get all the savings passed in the bill.

 

Good for you two!  Man ... you guys are killin' it under the Trump economy!