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gkekoa

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Just a point for clarity's sake. Fox news is part of the MSN. In fact, most of the MSM is owned and controlled by people who call themselves conservative or Republican. (Rightfully so because of the finances involved) So anytime that someone wants to point at the MSM as too liberal, just smile and know that they know nothing about the MSM and/or its leanings.

Follow the money. They may call themselves whatever, but where does the money flow? To the dems.
 

Stymietee

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Follow the money. They may call themselves whatever, but where does the money flow? To the dems.

Well let's see, almost all are conservative and/or Republican and the money flows to them therefore...
 

Stymietee

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Well, since the politics thread is back and this is the season where we all or almost all of us begin or begin thinking about taxes, here are some things that you can no longer deduct from your taxes. (just a few tips for those who aren't aware, I hope that they are helpful)

1. Personal exemptions of $4,050 (2017 value) for you, a spouse and or children. There's a standard deduction that no one alive and able to file will ever get the benefit of because the single standard deduction is reduced by the number of folks that you were previously able to claim and deduct that $4,050 (again 2017 amount)

2. Job related moving expenses (if you are the employee) unless you are making this move as an active member of the military by order. You have to seek reimbursement from your employer and these expenses will be added to your taxable wages, tips and other compensation on your W-2.

3. Theft Losses, nothing related to someone stealing your car, breaking into your home, or any other expense relating to theft is allowed.

4. Employee business expenses, that's right, business meals, travel and entertainment, using your car for business, job-related education, job-seeking costs, a qualified home office, union and/or professional dues and assessments, work clothes and work supplies, all fit under one category...Nondeductible!

5. Tax preparation fees, imagine that!! BTW: that includes any Federal, state, county, city, municipality, town or local tax prep fees that require you to file.

6. Legal fees paid on awards, judgements, or settlements. In plain terms, if you win a case and your lawyer gets his/her third, you still have to pay taxes on the entire amount. Let's say that you get 1 million and from that your lawyer gets $300,000, you still have to pay taxes on that 1 million. Nice huh?

7. Alimony paid, that's right gents and lady, but this only applies to those after December 31st 2018 however, alimony received will no longer be included in taxable income either. This ONLY applies to those cases AFTER the Dec. 2018 date. Tax returns prior to that you're ok, and you'll be able to continue as you have at previous tax seasons. An important note, this change begins next tax year (2019 returns) just be aware of this if there's a divorce, separation, palimony, or common law settlement in your future.

8. This is one of the big ones...Home equity loan interest, this one is a bit too complicated to go into every possible scenario, but I suggest that you consult a legal tax advisor on this or if you're a do-it-yourselfer, bone up on the new changes. Good-luck!

9. Casualty losses from a disaster. The one exemption is the disaster has to be declared by the president. Fire, water, wind or other natural occurrences associated weather events or shifting earth are no longer deductible unless the president declares that event a disaster. BTW: even this a presidential declared disaster is limited to
$100-per-casualty and 10%-of-AGI limitations.

10. Investment expenses. Nope, no longer as an investment expense, miscellaneously. These include, retirement accounts, fees for collecting dividends and interest, fees paid to investment advisers, the cost of investment media and services, and safe deposit box rental fees. The only good news resulting from this is the remaining deduction on investment interest.

A lot of changes in the tax codes beginning this tax season, there will be forms that replace schedules, especially schedule 'A" (itemized deduction) take care to make yourself aware of this or you've consulted with a tax advisor who is. Again good-luck to all.
 

j_y19

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Well, since the politics thread is back and this is the season where we all or almost all of us begin or begin thinking about taxes, here are some things that you can no longer deduct from your taxes. (just a few tips for those who aren't aware, I hope that they are helpful)

1. Personal exemptions of $4,050 (2017 value) for you, a spouse and or children. There's a standard deduction that no one alive and able to file will ever get the benefit of because the single standard deduction is reduced by the number of folks that you were previously able to claim and deduct that $4,050 (again 2017 amount)

2. Job related moving expenses (if you are the employee) unless you are making this move as an active member of the military by order. You have to seek reimbursement from your employer and these expenses will be added to your taxable wages, tips and other compensation on your W-2.

3. Theft Losses, nothing related to someone stealing your car, breaking into your home, or any other expense relating to theft is allowed.

4. Employee business expenses, that's right, business meals, travel and entertainment, using your car for business, job-related education, job-seeking costs, a qualified home office, union and/or professional dues and assessments, work clothes and work supplies, all fit under one category...Nondeductible!

5. Tax preparation fees, imagine that!! BTW: that includes any Federal, state, county, city, municipality, town or local tax prep fees that require you to file.

6. Legal fees paid on awards, judgements, or settlements. In plain terms, if you win a case and your lawyer gets his/her third, you still have to pay taxes on the entire amount. Let's say that you get 1 million and from that your lawyer gets $300,000, you still have to pay taxes on that 1 million. Nice huh?

7. Alimony paid, that's right gents and lady, but this only applies to those after December 31st 2018 however, alimony received will no longer be included in taxable income either. This ONLY applies to those cases AFTER the Dec. 2018 date. Tax returns prior to that you're ok, and you'll be able to continue as you have at previous tax seasons. An important note, this change begins next tax year (2019 returns) just be aware of this if there's a divorce, separation, palimony, or common law settlement in your future.

8. This is one of the big ones...Home equity loan interest, this one is a bit too complicated to go into every possible scenario, but I suggest that you consult a legal tax advisor on this or if you're a do-it-yourselfer, bone up on the new changes. Good-luck!

9. Casualty losses from a disaster. The one exemption is the disaster has to be declared by the president. Fire, water, wind or other natural occurrences associated weather events or shifting earth are no longer deductible unless the president declares that event a disaster. BTW: even this a presidential declared disaster is limited to
$100-per-casualty and 10%-of-AGI limitations.

10. Investment expenses. Nope, no longer as an investment expense, miscellaneously. These include, retirement accounts, fees for collecting dividends and interest, fees paid to investment advisers, the cost of investment media and services, and safe deposit box rental fees. The only good news resulting from this is the remaining deduction on investment interest.

A lot of changes in the tax codes beginning this tax season, there will be forms that replace schedules, especially schedule 'A" (itemized deduction) take care to make yourself aware of this or you've consulted with a tax advisor who is. Again good-luck to all.
Damn, Sty. Good recap. This is all above my ability to comprehend. Will you do my taxes for me?
 

ehb5

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Well, since the politics thread is back and this is the season where we all or almost all of us begin or begin thinking about taxes, here are some things that you can no longer deduct from your taxes. (just a few tips for those who aren't aware, I hope that they are helpful)

1. Personal exemptions of $4,050 (2017 value) for you, a spouse and or children. There's a standard deduction that no one alive and able to file will ever get the benefit of because the single standard deduction is reduced by the number of folks that you were previously able to claim and deduct that $4,050 (again 2017 amount)

2. Job related moving expenses (if you are the employee) unless you are making this move as an active member of the military by order. You have to seek reimbursement from your employer and these expenses will be added to your taxable wages, tips and other compensation on your W-2.

3. Theft Losses, nothing related to someone stealing your car, breaking into your home, or any other expense relating to theft is allowed.

4. Employee business expenses, that's right, business meals, travel and entertainment, using your car for business, job-related education, job-seeking costs, a qualified home office, union and/or professional dues and assessments, work clothes and work supplies, all fit under one category...Nondeductible!

5. Tax preparation fees, imagine that!! BTW: that includes any Federal, state, county, city, municipality, town or local tax prep fees that require you to file.

6. Legal fees paid on awards, judgements, or settlements. In plain terms, if you win a case and your lawyer gets his/her third, you still have to pay taxes on the entire amount. Let's say that you get 1 million and from that your lawyer gets $300,000, you still have to pay taxes on that 1 million. Nice huh?

7. Alimony paid, that's right gents and lady, but this only applies to those after December 31st 2018 however, alimony received will no longer be included in taxable income either. This ONLY applies to those cases AFTER the Dec. 2018 date. Tax returns prior to that you're ok, and you'll be able to continue as you have at previous tax seasons. An important note, this change begins next tax year (2019 returns) just be aware of this if there's a divorce, separation, palimony, or common law settlement in your future.

8. This is one of the big ones...Home equity loan interest, this one is a bit too complicated to go into every possible scenario, but I suggest that you consult a legal tax advisor on this or if you're a do-it-yourselfer, bone up on the new changes. Good-luck!

9. Casualty losses from a disaster. The one exemption is the disaster has to be declared by the president. Fire, water, wind or other natural occurrences associated weather events or shifting earth are no longer deductible unless the president declares that event a disaster. BTW: even this a presidential declared disaster is limited to
$100-per-casualty and 10%-of-AGI limitations.

10. Investment expenses. Nope, no longer as an investment expense, miscellaneously. These include, retirement accounts, fees for collecting dividends and interest, fees paid to investment advisers, the cost of investment media and services, and safe deposit box rental fees. The only good news resulting from this is the remaining deduction on investment interest.

A lot of changes in the tax codes beginning this tax season, there will be forms that replace schedules, especially schedule 'A" (itemized deduction) take care to make yourself aware of this or you've consulted with a tax advisor who is. Again good-luck to all.

Plot twist: the politics thread becomes an uplifting series of extremely helpful posts.
 

dcrising

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Well, since the politics thread is back and this is the season where we all or almost all of us begin or begin thinking about taxes, here are some things that you can no longer deduct from your taxes. (just a few tips for those who aren't aware, I hope that they are helpful)

1. Personal exemptions of $4,050 (2017 value) for you, a spouse and or children. There's a standard deduction that no one alive and able to file will ever get the benefit of because the single standard deduction is reduced by the number of folks that you were previously able to claim and deduct that $4,050 (again 2017 amount)

2. Job related moving expenses (if you are the employee) unless you are making this move as an active member of the military by order. You have to seek reimbursement from your employer and these expenses will be added to your taxable wages, tips and other compensation on your W-2.

3. Theft Losses, nothing related to someone stealing your car, breaking into your home, or any other expense relating to theft is allowed.

4. Employee business expenses, that's right, business meals, travel and entertainment, using your car for business, job-related education, job-seeking costs, a qualified home office, union and/or professional dues and assessments, work clothes and work supplies, all fit under one category...Nondeductible!

5. Tax preparation fees, imagine that!! BTW: that includes any Federal, state, county, city, municipality, town or local tax prep fees that require you to file.

6. Legal fees paid on awards, judgements, or settlements. In plain terms, if you win a case and your lawyer gets his/her third, you still have to pay taxes on the entire amount. Let's say that you get 1 million and from that your lawyer gets $300,000, you still have to pay taxes on that 1 million. Nice huh?

7. Alimony paid, that's right gents and lady, but this only applies to those after December 31st 2018 however, alimony received will no longer be included in taxable income either. This ONLY applies to those cases AFTER the Dec. 2018 date. Tax returns prior to that you're ok, and you'll be able to continue as you have at previous tax seasons. An important note, this change begins next tax year (2019 returns) just be aware of this if there's a divorce, separation, palimony, or common law settlement in your future.

8. This is one of the big ones...Home equity loan interest, this one is a bit too complicated to go into every possible scenario, but I suggest that you consult a legal tax advisor on this or if you're a do-it-yourselfer, bone up on the new changes. Good-luck!

9. Casualty losses from a disaster. The one exemption is the disaster has to be declared by the president. Fire, water, wind or other natural occurrences associated weather events or shifting earth are no longer deductible unless the president declares that event a disaster. BTW: even this a presidential declared disaster is limited to
$100-per-casualty and 10%-of-AGI limitations.

10. Investment expenses. Nope, no longer as an investment expense, miscellaneously. These include, retirement accounts, fees for collecting dividends and interest, fees paid to investment advisers, the cost of investment media and services, and safe deposit box rental fees. The only good news resulting from this is the remaining deduction on investment interest.

A lot of changes in the tax codes beginning this tax season, there will be forms that replace schedules, especially schedule 'A" (itemized deduction) take care to make yourself aware of this or you've consulted with a tax advisor who is. Again good-luck to all.
Thanks Republicans!

continuing to fuck most of us while serving the few.
 

j_y19

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Thanks Republicans!

continuing to fuck most of us while serving the few.
You’re welcome! If you think Republicans alone fucked you, you are a bit naive. The government has been fucking up for a long time. Neither party can claim exclusive rights to that.
 

dcrising

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You’re welcome! If you think Republicans alone fucked you, you are a bit naive. The government has been fucking up for a long time. Neither party can claim exclusive rights to that.
In this tax case absolutely!
 

Sharkinva

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What tax case?


The most recent tax "Cuts". As bad as some people think the ACA was going to screw the lower 98%

The Trump tax plan looks to be a long game screwing in which Trump has been rumored to say he doesnt care because he will be out of office by the time the cleanup is needed.
 

Stymietee

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It will be interesting if you guys and lady reported on your returns. Nothing specific, just an honest, well shit I owe, a my tax return is less than in previous years, I broke even, my return increased or remained the same would suffice. Thank you!
 

Stymietee

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Damn, Sty. Good recap. This is all above my ability to comprehend. Will you do my taxes for me?

Actually, I used to do taxes as favors for co-workers, it started out with a couple here and there and as the word spread, the number of requests increased. Soon it became too much for me to handle and I quit taking new requests, cut back on the number that I would do and eventually relegate my service to family. That's where I am now.
 

gkekoa

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It will be interesting if you guys and lady reported on your returns. Nothing specific, just an honest, well shit I owe, a my tax return is less than in previous years, I broke even, my return increased or remained the same would suffice. Thank you!

Yeah...I am very interested. Remember people also have to figure in if they received more per paycheck.
 

Stymietee

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Ok, it seems as if this thread needs a jump start so, quick poll, who's responsible for the current government shutdown? What's the solution?
 

j_y19

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Actually, I used to do taxes as favors for co-workers, it started out with a couple here and there and as the word spread, the number of requests increased. Soon it became too much for me to handle and I quit taking new requests, cut back on the number that I would do and eventually relegate my service to family. That's where I am now.

Ain't I family??
 

gkekoa

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Ok, it seems as if this thread needs a jump start so, quick poll, who's responsible for the current government shutdown? What's the solution?

Does it matter? One thing this shut down has shown us is the federal government is bloated because it really hasn’t affected non-government workers, which tells me there are too many government workers.

From there, economically, I read the shutdown has already cost the economy more than the 5 billion Trump asked for. So why not fund the wall?

I always hear how little certain government programs cost the US taxpayer and how it is such a small percentage of the budget. Well, what is the difference with the wall? One big difference is the wall in tangible and will make a difference. It won’t stop illegal immigration, but it will slow it down and reduce it. You can’t really argue against this.

The solution is to fund the wall and reduce the federal workforce.
 

j_y19

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Does it matter? One thing this shut down has shown us is the federal government is bloated because it really hasn’t affected non-government workers, which tells me there are too many government workers.

From there, economically, I read the shutdown has already cost the economy more than the 5 billion Trump asked for. So why not fund the wall?

I always hear how little certain government programs cost the US taxpayer and how it is such a small percentage of the budget. Well, what is the difference with the wall? One big difference is the wall in tangible and will make a difference. It won’t stop illegal immigration, but it will slow it down and reduce it. You can’t really argue against this.

The solution is to fund the wall and reduce the federal workforce.
So I seriously would like an answer to this question from you, and not the answer of the day from the white house.....What happened to Trump's vow/promise/pledge that Mexico would pay for the wall? How do you personally reconcile the President's ever shifting position on this funding?
 

gkekoa

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So I seriously would like an answer to this question from you, and not the answer of the day from the white house.....What happened to Trump's vow/promise/pledge that Mexico would pay for the wall? How do you personally reconcile the President's ever shifting position on this funding?

How much money was made from redoing NAFTA? Would that not be Mexico paying for the wall?

Did you actually expect Mexico to cut us a literal check?

Without backing from Congress, it would be impossible to force Mexico to pay for the wall by shifting funding or taking funds away from Mexico.
 

j_y19

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How much money was made from redoing NAFTA? Would that not be Mexico paying for the wall?

Did you actually expect Mexico to cut us a literal check?

Without backing from Congress, it would be impossible to force Mexico to pay for the wall by shifting funding or taking funds away from Mexico.
Does NAFTA produce enough funds? Probably, But that’s not what he said he was going to do. And the funds realized through NAFTA don’t directly flow into the Federal coffers. They help to offset the trade balance with companies doing business in Mexico.

It just upsets me that the guy promised that Mexico would pay for it knowing there is no way they would. So now you and I have to pay for it. What else has he misled us on?

Also, what guarantees does he offer that this solves the problem forever? If I have to pay for it, I want to know what I’m getting.

BTW, I agree the Federal workforce needs to be reduced. And serious spending cuts need to be implemented, and should have been with the change in the tax laws.
 
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