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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
What did you spend your refund money on?
Posted by:
Thanks Trump!!
()
Date: March 01, 2019 08:52PM
I got myself a pair of Bose bluetooth ear buds, a Green Egg grill and put the rest towards stocks on my E-Trade account.
Re: What did you spend your refund money on?
Posted by:
Solid supporter
()
Date: March 01, 2019 08:59PM
Gonna donate it to the Trump defense fund.
Re: What did you spend your refund money on?
Posted by:
meade skelton CDs, most in IRA
()
Date: March 01, 2019 09:18PM
Gonna spend a few hundred taking hammie out for a date.
Re: What did you spend your refund money on?
Posted by:
BEH
()
Date: March 02, 2019 06:47AM
The girls at Pine Tree Spa got most of mine.
Re: What did you spend your refund money on?
Posted by:
Thanks for Nothing
()
Date: March 02, 2019 07:48AM
What refund? My Fed taxes went up. My state taxes went up.
Re: What did you spend your refund money on?
Posted by:
give thanks
()
Date: March 02, 2019 07:59AM
Thanks for Nothing Wrote:
-------------------------------------------------------
> What refund? My Fed taxes went up. My state
> taxes went up.
81% of filers had their federal taxes go down. You are in the 19% that didn't. Almost all of those are in the top 3%. You should be thankful that you're doing so well.
-------------------------------------------------------
> What refund? My Fed taxes went up. My state
> taxes went up.
81% of filers had their federal taxes go down. You are in the 19% that didn't. Almost all of those are in the top 3%. You should be thankful that you're doing so well.
Re: What did you spend your refund money on?
Posted by:
Fair share
()
Date: March 02, 2019 09:36AM
Thanks for Nothing Wrote:
-------------------------------------------------------
> What refund? My Fed taxes went up. My state
> taxes went up.
What does it feel like to be so stupid?
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> What refund? My Fed taxes went up. My state
> taxes went up.
What does it feel like to be so stupid?
Re: What did you spend your refund money on?
Posted by:
The Numbers Game
()
Date: March 02, 2019 10:51AM
give thanks Wrote:
-------------------------------------------------------
>
> 81% of filers had their federal taxes go down.
> You are in the 19% that didn't. Almost all of
> those are in the top 3%. You should be thankful
> that you're doing so well.
The top 3% wouldn't get a benefit from personal exemptions because they were phased out. The top 3% didn't get to deduct miscellaneous itemized deductions because they didn't top 2% of their AGI. The top 3% didn't worry about state and local taxes because of AMT. The top 3% were better able to shift income to take advantage of 199A. The top 3% don't usually rely on home equity loans. The top 3% made out well because the savings from the tax cuts more than offset any additional tax generated by lost deductions. It was those slightly lower who got hit the hardest because they relied more heavily on these lost deductions.
-------------------------------------------------------
>
> 81% of filers had their federal taxes go down.
> You are in the 19% that didn't. Almost all of
> those are in the top 3%. You should be thankful
> that you're doing so well.
The top 3% wouldn't get a benefit from personal exemptions because they were phased out. The top 3% didn't get to deduct miscellaneous itemized deductions because they didn't top 2% of their AGI. The top 3% didn't worry about state and local taxes because of AMT. The top 3% were better able to shift income to take advantage of 199A. The top 3% don't usually rely on home equity loans. The top 3% made out well because the savings from the tax cuts more than offset any additional tax generated by lost deductions. It was those slightly lower who got hit the hardest because they relied more heavily on these lost deductions.
Re: What did you spend your refund money on?
Posted by:
Sgt. Friday
()
Date: March 02, 2019 10:59AM
Half of those who have jobs pay ZERO federal income tax (the lower half).
Historically, less than 30% of tax filers itemize. So the increased standard deduction helped almost everyone who doesn't itemize.
Of those how pay federal income tax, 80% owed less taxes due to the new tax law.
If you live in a high tax state and have a big mortgage, you probably owed more. If you owed AMT and didn't make over $750K (like 99% of AMT payers did in 2017), you owed less taxes.
The problem with the tax bill wasn't that it's for the rich or it's screwing the middle class. The problem is that the IRS published new withholding tables for 2018 that decreased everyone's withholdings for federal taxes and, unless you adjusted them back up to where they were before, your refund was less than what you'd been getting before.
The fact is that 80% of federal tax payers saw a reduction in what they owed for 2018.
Historically, less than 30% of tax filers itemize. So the increased standard deduction helped almost everyone who doesn't itemize.
Of those how pay federal income tax, 80% owed less taxes due to the new tax law.
If you live in a high tax state and have a big mortgage, you probably owed more. If you owed AMT and didn't make over $750K (like 99% of AMT payers did in 2017), you owed less taxes.
The problem with the tax bill wasn't that it's for the rich or it's screwing the middle class. The problem is that the IRS published new withholding tables for 2018 that decreased everyone's withholdings for federal taxes and, unless you adjusted them back up to where they were before, your refund was less than what you'd been getting before.
The fact is that 80% of federal tax payers saw a reduction in what they owed for 2018.
Re: What did you spend your refund money on?
Posted by:
plelt
()
Date: March 02, 2019 11:04AM
Thanks for Nothing Wrote:
-------------------------------------------------------
> What refund? My Fed taxes went up. My state
> taxes went up.
That's why you need to vote GOP in state elections. The dems are about to go full communist and that shit is super expensive!
-------------------------------------------------------
> What refund? My Fed taxes went up. My state
> taxes went up.
That's why you need to vote GOP in state elections. The dems are about to go full communist and that shit is super expensive!
Re: What did you spend your refund money on?
Posted by:
legit
()
Date: March 02, 2019 11:38AM
Invested all $5k into next year’s IRA.
Re: What did you spend your refund money on?
Posted by:
Raj gf
()
Date: March 02, 2019 02:19PM
plelt Wrote:
-------------------------------------------------------
>
> That's why you need to vote GOP in state
> elections. The dems are about to go full
> communist and that shit is super expensive!
The GOP were the ones in 2017 who chose to sell out the middle class in order to make the numbers work for a tax cut on the wealthy. I appreciate the benefits the GOP gave me under Bush's tax cuts. I do not kid myself though. Those rules were also written to benefit the rich. I was just an incidental beneficiary.
-------------------------------------------------------
>
> That's why you need to vote GOP in state
> elections. The dems are about to go full
> communist and that shit is super expensive!
The GOP were the ones in 2017 who chose to sell out the middle class in order to make the numbers work for a tax cut on the wealthy. I appreciate the benefits the GOP gave me under Bush's tax cuts. I do not kid myself though. Those rules were also written to benefit the rich. I was just an incidental beneficiary.
Re: What did you spend your refund money on?
Posted by:
Sheeple Alert
()
Date: March 02, 2019 02:30PM
Raj gf Wrote:
-------------------------------------------------------
> plelt Wrote:
> --------------------------------------------------
> -----
> >
> > That's why you need to vote GOP in state
> > elections. The dems are about to go full
> > communist and that shit is super expensive!
>
> The GOP were the ones in 2017 who chose to sell
> out the middle class in order to make the numbers
> work for a tax cut on the wealthy. I appreciate
> the benefits the GOP gave me under Bush's tax
> cuts. I do not kid myself though. Those rules
> were also written to benefit the rich. I was just
> an incidental beneficiary.
Wow, you're really dense, aren't you?
-------------------------------------------------------
> plelt Wrote:
> --------------------------------------------------
> -----
> >
> > That's why you need to vote GOP in state
> > elections. The dems are about to go full
> > communist and that shit is super expensive!
>
> The GOP were the ones in 2017 who chose to sell
> out the middle class in order to make the numbers
> work for a tax cut on the wealthy. I appreciate
> the benefits the GOP gave me under Bush's tax
> cuts. I do not kid myself though. Those rules
> were also written to benefit the rich. I was just
> an incidental beneficiary.
Wow, you're really dense, aren't you?
Re: What did you spend your refund money on?
Posted by:
Libs hate humanity
()
Date: March 02, 2019 02:42PM
Only fuckwads pay taxes.