Tax outrage: All about the deductions?

Discussion in 'Politics, Religion, Social Issues' started by Chew Toy McCoy, Apr 23, 2019.

  1. Chew Toy McCoy macrumors regular

    Chew Toy McCoy

    Joined:
    May 13, 2016
    #1
    I’m in a relationship but not married. I rent. I don’t have kids. I don’t own a business. For the most part that means I have very little, if any, tax deductions or write offs available to me and for as long as I can remember when filing taxes I either get a couple hundred back or owe a couple hundred. No big deal.

    So when people are flying off the handle about taxes is it because they have some intricate web of deductions and write offs the government keeps messing with?
     
  2. lostngone, Apr 23, 2019
    Last edited: Apr 23, 2019

    lostngone macrumors 65816

    lostngone

    Joined:
    Aug 11, 2003
    Location:
    Anchorage
    #2
    ??? What are you getting at?

    Have you looked at one of your pay checks? How much is being withheld from each? I assume if you sometimes get money back you mush have a job?

    Some people don't have anything withheld so when tax time comes around they owe a lot.

    Edit: Sorry I just read what I typed I don't mean to come off sounding condescending or rude, I was just trying to find out about your situation. The reason ask is I have a few friends that don't pay any or very little tax because they "officially" don't have a job.
     
  3. Chew Toy McCoy thread starter macrumors regular

    Chew Toy McCoy

    Joined:
    May 13, 2016
    #3
    I do have a job. Frankly, no I don’t look at how much is being withheld and given what I said about very little changing in what I owe or get back for as long as I can remember I haven’t seen anything alarming about taxes supposedly going way up or way down. I’m just looking at the end result in what I owe or get back year after year.
     
  4. vertical smile macrumors 68040

    vertical smile

    Joined:
    Sep 23, 2014
    #4
    I think there may have been a few threads about this already.

    The new tax law was suppose to make filing more simple.

    The way I understand it is that the standard deduction is higher and if one chooses to itemize, many deductions can no longer be used. I would guess that most low to low-middle income people probably choose the standard deduction, so it ended up being good for them. Higher income families, self-employed, and businesses itemize, so the tax changes may have negatively affected them.
     
  5. bradl macrumors 68040

    bradl

    Joined:
    Jun 16, 2008
    #5

    They have. I have a job and own a business. And for the first time in 30 years, I owed taxes. For the 12 years that I've owned a business, I actually got back more by itemizing than taking any standard deductions.

    Yes, what I claim on my W-4 has been adjusted for this new law.
    Yes, I compared between what I would get back via itemizing versus standard deduction.
    Yes, I actually wrote off the expenses I would normally write off or deduct as a cost for operating my business.

    By itemizing, I actually owed less to the government than I would have by taking the standard deduction.

    So for those who were saying that this should be simpler and that everyone got back more of a refund, they're wrong.

    Thanks for allowing ignorance in attempting to simplify our tax system to make it worse.

    BL.
     
  6. ronntaylor macrumors regular

    ronntaylor

    Joined:
    Jan 16, 2004
    Location:
    Flushing, New York
    #6
    I think recent diatribes have to do with the most recent Tax Scam. It was touted as providing big tax breaks. But for the most part, the super wealthy benefited. And many deductions for certain professionals were eliminated (see teachers misc expenses) or created hardships for those that usually itemized. And outrageous deductions that only the super wealthy could take advantage of (see Private Jet Deductions). Recall how Speaker Paul Ryan was mocked for highlighting a school secretary's big tax savings: $1.50 a paycheck!
     
  7. DearthnVader macrumors 6502a

    DearthnVader

    Joined:
    Dec 17, 2015
    Location:
    Red Springs, NC
    #7
    Don't you people know who runs stuff?

    Silly rabbit, tax breaks are for $$$$$$$$$$$$$$$$$$$$$$$$
     
  8. bradl macrumors 68040

    bradl

    Joined:
    Jun 16, 2008
    #8
    Yet you elected the people who gave the tax breaks to the $$$$$$$$$$$$$$$$$$$$$$$$.

    Thank you so very much for making all of us lay in the bed of broken glass shards and nails that you thought were roses.

    BL.
     
  9. DearthnVader macrumors 6502a

    DearthnVader

    Joined:
    Dec 17, 2015
    Location:
    Red Springs, NC
    #9
    My taxes didn't go up, your's did, find yourself a better lobby, or a better accountant.:p
     
  10. bradl macrumors 68040

    bradl

    Joined:
    Jun 16, 2008
    #10
    If you’re employed, people’s taxes went up to be offset by the standard deduction. Or are you happier staying where you are financially and letting the 1% get what you will never have?

    I don’t prefer to live in mediocrity, regardless of what you naively think may or may not have happened to your taxes.

    BL.
     
  11. DearthnVader macrumors 6502a

    DearthnVader

    Joined:
    Dec 17, 2015
    Location:
    Red Springs, NC
    #11
    My per diem rate didn't change.

    Like I said, you need a better lobby, someone better than (D) to look out for you. It's fine to have (D) look out for you, if you want, but a little extra help never hurts.
     

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10 April 23, 2019