Do you pay Taxes?

[Jimdamick]

I sure as shit do, and for the 1st time in my history I had to pay Federal taxes this year.

You see Trump's Tax Reform fucked me personally by eliminating my wife's $300 deduction she received as a teacher to compensate her for out of pocket expenses such as pencils, paper, books, crayons, etc. which in the inner-city school she teaches are sometimes in short supply (like a lot), and she would use personal funds for her students needs. (not anymore, I can tell you that much)

Then to top it off my ability to deduct my states and towns income tax from my federal tax return has been eliminated, which if you live in a box in fucking Kentucky you don't care, but I live in Fairfield county in CT, one of the most heavily taxed areas in the Nation, and I fucking care because I just got fucked.

But there is a bright side to Trump's Tax Reform, and that is if your a multi-billion $ corporation based in the US, you probably payed not a nickel.

According to analysis from the Institute on Taxation and Economic Policy (ITEP), 60 Fortune 500 companies avoided paying all federal income tax in 2018 (with their total average effective tax rate being roughly -5%).

That’s more than three times the number of companies that avoided paying corporate taxes on average from 2008 to 2015. During that period, 18 companies managed to pay 0% or less (with their total average effective tax rate over 8 years being roughly -4%).

“There are a lot of breaks and loopholes that allow a company not to pay,” Steve Wamhoff, ITEP’s Director of Federal Tax Policy, told Yahoo Finance. “People, when they think of tax reform, think the government is going to fix the tax code and get rid of breaks and loopholes and get rid tax dodging. What we got at the end of 2017 was not that. It was the opposite of that. The Tax Cuts and jobs act left a lot of special breaks and loopholes in place and created some new ones.”

So this is Trump's tax reform, where my family of 3 with a taxable gross income of $68,000 has to pay over $400 more in Federal taxes, whereas I used to get $400 back

I payed more than fucking Amazon did this year, and that's just fucking wrong.

Thanks Trump, you scum sucking weasel, you just fucked the majority of Americans, again

Oh, and did I mention the deficit that is ballooning as a result these shit tax cuts?

Maybe later

• 
  

 

[f series]

I didn't even pay 10% in fed taxes.i got 160 ish back.

Get tax advantages

 

[Jimdamick]

I didn't even pay 10% in fed taxes.i got 160 ish back.

Get tax advantages

Good for you, at least someone is making out.

 

[Moldy]

It was a punishment tax on blue states (with high state taxes). It's fucked a lot of red state little guys too but they don't care cause they got "libirty" from socialism.

 

[Moses Mobetta]

Usually, at the beginning of the year, people get a tax refund. A lot of people have plans to fix up their homes with this money which creates a lot of jobs in the remodeling industry. Then the weather gets nicer and people are spending more time and money fixing up their homes. Instead this year a lot of people owe money. So they started out in debt. Now they have another bill to pay and are behind financially so a bunch of billionaires can have some more zeros on their bank account while the average person goes without.

 

[Dr.Amber Trichome]

I was pleasantly surprised to get back over 5 grand . I always put 1 for deductions. I lived in 3 states for the year. Lived in California for 6 months they gave me the most of all the states and got 1200 bucks back. Oregon I lived for 4 months gave me $250 and NEw Mexico gave me like $200. New Mexico has kick backs on healthcare that you pay for which was nice. So I was happy with the money back but they Steal so from my paycheck off the top it painful. I look forward to seeing the turbo tax slot machine calculation numbers go up and I always try to save money for an IRA deposit which lowers my taxable income as well.

 

[Herb & Suds]

I'm on a fixed income and my taxes went up

 

[Bugeye]

For me, getting a refund is usually a sign of mismanaged tax planning. I always aim to have a small tax liability due vs. getting a refund. Screw giving the gov an interest free loan.

 

[Jimdamick]

Usually, at the beginning of the year, people get a tax refund. A lot of people have plans to fix up their homes with this money which creates a lot of jobs in the remodeling industry. Then the weather gets nicer and people are spending more time and money fixing up their homes. Instead this year a lot of people owe money. So they started out in debt. Now they have another bill to pay and are behind financially so a bunch of billionaires can have some more zeros on their bank account while the average person goes without.

Yup, this tax "break" is going to do wonders for our economy and society, all you have to be is a billionaire, and then you can throw money out the widow of your limousine and help the poor
.
I mean that's what their gonna do with all this new found wealth, just pass it on to their employees and to charity, right?

I also mean that was the point after all, that all this influx of wealth to the upper class will find it's way down to the downtrodden, right?

Suck my dick

Marx had it fucking right

 

[UncleBuck]

For me, getting a refund is usually a sign of mismanaged tax planning. I always aim to have a small tax liability due vs. getting a refund. Screw giving the gov an interest free loan.

Only 17% of Americans are saying trump lowered their taxes

You guys gonna run on this? It’s the only legislation you retards have managed to pass

 

[too larry]

My tax bill is less than half of what it was. 6.5k now, was 15k. Nothing to do with 45, but my wife retired. She still makes almost twice as much in retirement as I do working. When she was working, it was over three times as much.

We got our taxes done early this year. Got them in the mail day before yesterday. Most years we wait until the 14th.

 

[blu3bird]

I received $1200 back. $1000 from federal and $200 from state. I did pay a $350 fine because my health insurance didn't kick in until June last year, not a big deal to me though.

I'm buying new Goodyear tires for my pickup truck with my tax return

 

[blu3bird]

For me, getting a refund is usually a sign of mismanaged tax planning.

For me, having to see you post so much is a sign of mismanaged moderation

 

[Lucky Luke]

As a non American I always found it strange that you pay income tax on state and then Federal.

We just pay income tax federally. (makes income tax time so much easier). And to answer the Q I haven't payed income tax in a number of years. I am lazy, self employed (not a good combo...), like cash and take advantage of the tax free threshold.

 

[blu3bird]

As a non American I always found it strange that you pay income tax on state and then Federal

To make things more complicated, some places here in America, you'll also pay a city income tax on top of state and federal

 

[TacoMac]

It’s the only legislation you retards have managed to pass

Other than more executive orders than any three presidents in history combined have issued. (95% of which have been shot down in federal court, but hey, who's keeping score?)

 

[Lucky Luke]

Other than more executive orders than any three presidents in history combined have issued. (95% of which have been shot down in federal court, but hey, who's keeping score?)

Gee, I wonder why they didn't pass....

 

[Dr.Amber Trichome]

To make things more complicated, some places here in America, you'll also pay a city income tax on top of state and federal

On my city Utilities bill I get charged a $5 Ambulance fee. When I asked to sign the waiver form because I don’t want the charge ( because I have health insurance) I was told the ambulance charge isn’t covered by health insurances and if ...by chance I need a ride , the ambulance fee is $20,000 so you better just pay the $5 on your monthly bill.

 

[Jimdamick]

On my city Utilities bill I get charged a $5 Ambulance fee. When I asked to sign the waiver form because I don’t want the charge ( because I have health insurance) I was told the ambulance charge isn’t covered by health insurances and if ...by chance I need a ride , the ambulance fee is $20,000 so you better just pay the $5 on your monthly bill.

Check with your insurance policy, mine covers ambulances (found out the hard way when my truck ran over my foot because I didn't use the parking brake )

 

[Roger A. Shrubber]

i usually do...not paying this year because i didn't do any work on the clock for the entire year, everything was cash in hand...which is actually not a good idea, kind of fucks me with social security, if you don't put it in, you can't get it back later (...if there is a later, for me or social security, either one...) so this year i plan to punch in for some of the shit i do, even a little is better than nothing....and i don't want any smart irs guys wondering how i managed to live like i do with no income....