ST Alpha - "Like I needed another reason to hate the Orange Sh!tgibbon..." (Reading a Post)

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Like I needed another reason to hate the Orange Sh!tgibbon...

Posted by Mr. Havens (aka EdwardHavens) Feb 7 '19, 11:12

Thanks to his Tax "Cuts" and Jobs "Act," we will not be getting a refund in the $4-7k range. Nope. This year, the wife and I owe are on the hook for another $25k.

Thank you, President Chump. Hail to the Thief!

Responses:

What is your relative tax liability. The difference in refund payment could just be what you withheld. - pmb Feb 7, 11:17 2
- 2018 was the first full year my wife was a lawyer, so our combined income jumped like 400%. - Mr. Havens Feb 7, 11:23 1
  - see my post below. marriage tax. you were paid more all year; now you have to pay it back. -- nm - amanda Feb 7, 11:24
I would talk to *several* accountants. -- nm - David Feb 7, 11:16 5
- That's why he's here. ST is lousy with them. :P -- nm - Baroon 5 Feb 7, 11:28 4
  - No. I just need a place to vent a bit, now that I don't have Facebook, Twitter or any meaningful social media. -- nm - Mr. Havens Feb 7, 11:31 3
    - nice to know we're not meaningful.... -- nm - amanda Feb 7, 11:39 2
      - We already knew thaaat. -- nm - Qale Feb 7, 12:30
      - Oh, stop it. -- nm - Mr. Havens Feb 7, 11:43
As an accountant, something doesn't add up in that. Are you sure your predictions/estimates were okay? That range is too large. -- nm* - MDH Feb 7, 11:15 18
- And also, sorry. We're expecting a lot of people to be underpaid this year. But that seems very high. -- nm - MDH Feb 7, 11:16 17
  - ugh, don't want to do my taxes now -- nm - ty97 Feb 7, 11:16 16
    - [deleted] 10
      - Word. -- nm - pmb Feb 7, 11:38
      - I factored that into a dry run last year and it seemed like I might balance out (less SALT but lower marginal rate). - ty97 Feb 7, 11:30 2
        
        [deleted] 1
        
        We jumped brackets. In 2017, our bracket was 15%. In 2018, our bracket was 24% - Mr. Havens Feb 7, 11:41
      - what do we think is going to happen post trump? will it all go back to what it was? -- nm - amanda Feb 7, 11:29 5
        
        [deleted]
        
        [deleted] 3
        
        I'd say greater than 0% because the states that got hit most by limiting the SALT deductions are primarily blue states. -- nm - pmb Feb 7, 11:40 2
        
        [deleted] 1
        
        But it's not easy to campaign on "we'll take away these tax cuts", and very easy to campaign on "we'll bring back these tax deductions" -- nm - Roger More Feb 7, 11:46
    - Yeah, there's going to be a big awakening in a few weeks when a large % of the "middle class" gets much smaller refunds or owes -- nm - MDH Feb 7, 11:20 4
      - There are already collections of tweets about it -- nm - Roger More Feb 7, 11:27
      - [deleted]
      - I claim single zero to avoid surprises. I know I'm loaning money to the government by doing so, but - amanda Feb 7, 11:23 1
        
        I do single with one exemption. I end up getting a lot back usually but it's less hassle. -- nm - MDH Feb 7, 11:39
Holy shit. -- nm - Mop Feb 7, 11:13
wait? WHAT?! that is a huge range -- nm - Epiphany Feb 7, 11:13 4
- Granted, we entered a much higher tax bracket this year... - Mr. Havens Feb 7, 11:18 2
  - every time something materially changes in my money life, I do dummy taxes to make sure I'm on track. I highly recommend this. this said, it sounds to - amanda Feb 7, 11:22 1
    - Thank you. We're already looking at the adjustments we need to make for 2019. Thankfully, it won't be too hard a hardship... - Mr. Havens Feb 7, 11:26
- also it sucks! -- nm - Epiphany Feb 7, 11:13

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Like I needed another reason to hate the Orange Sh!tgibbon...

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