Tracking toy tariffs

It's also really hard to find enough deductions that amount to something greater than the standard deduction for most people. I still go through and list out every deduction I can get, but it never breaks the standard deduction threshold. I would assume the tip thing probably changes that for servers.

In general, our tax system in the US is complicated by design so that people can make money off of it. The government could easily send you a bill/refund without the need for filing taxes if it wanted to, but they'd rather not. Direct File is getting killed because of donations by companies like Intuit to politicians. It's ridiculous.
 
Reno said:
I had to pay in $3k this year. That's the first time that I've ever owed that much. I usually get a few hundred dollars back, but this was also my first year without a dependent (unexpectedly) since 1999. My 22 year old son that lives with me worked just for couple of months to end the year and evidently made just enough (like $6500) to not count as a dependent anymore despite me fully supporting him. No dependent, no head of household - just a single filer for the first time in over 2 decades... and ouch. Had to change my withholding and increase my 401(k) contributions for this year as soon as I filed. Gross.
Click to expand...
I feel your pain. I have a 20 year old in college, a 17 year old and a 12 year old. I pay for all 3 but only get the full child tax credit for 1. Apparently it goes away when they turn 17. I foolishly thought it lasted through 18. Thankfully I had held out extra taxes this year since I had sold stuff on eBay and didn’t realize the $600 thing went away so my tax bill wasn’t as large as it could have been. First time I have ever owed money to the IRS as far as I can remember.
 
I think the tax code is crazily complex because it's been the only tool Congress has to barter with in negotiations amongst themselves for hundreds of years. Sure, corruption and greed played a bigger and bigger part as time went on, but it really is one of the few things they control.
 
  • Like
Reactions: Alt
Misfit said:
It's also really hard to find enough deductions that amount to something greater than the standard deduction for most people. I still go through and list out every deduction I can get, but it never breaks the standard deduction threshold. I would assume the tip thing probably changes that for servers.

In general, our tax system in the US is complicated by design so that people can make money off of it. The government could easily send you a bill/refund without the need for filing taxes if it wanted to, but they'd rather not. Direct File is getting killed because of donations by companies like Intuit to politicians. It's ridiculous.
Click to expand...
In '16 & '17 I did tax prep for one of the national companies. They were giving me the easier returns. I was staying away from the more complex self employed and people with rental incomes. A lot of people don't get how the standard deduction works. Nine times out of 10 it's obvious their list of items won't exceed the standard deduction. I would go through the process if they didn't seem to be buying my explanation. Even I used to keep all my medical, dental, and 8 foot long CVS prescription receipts throughout the year in a manila envelope. I haven't been bothering to do that lately.
 
I really wish we’d go to a flat percentage tax. 5%, 10%, 20% whatever that number may be. No loop holes, no tax day. Just take that right percentage out from the beginning and be done with it. No more guessing, no more getting out of paying something for the rich or corporations. The more you make, the more you are paying but everyone pays the same percentage of their income.
 
  • Like
Reactions: Alt
Buttmunch said:
I really wish we’d go to a flat percentage tax. 5%, 10%, 20% whatever that number may be. No loop holes, no tax day. Just take that right percentage out from the beginning and be done with it. No more guessing, no more getting out of paying something for the rich or corporations. The more you make, the more you are paying but everyone pays the same percentage of their income.
Click to expand...

But the poor rich people
 
Buttmunch said:
I really wish we’d go to a flat percentage tax. 5%, 10%, 20% whatever that number may be. No loop holes, no tax day. Just take that right percentage out from the beginning and be done with it. No more guessing, no more getting out of paying something for the rich or corporations. The more you make, the more you are paying but everyone pays the same percentage of their income.
Click to expand...
Flat taxes are extremely regressive.
If you make $20K and pay 10%, that $2K materially affects your quality of life.
If you make $200K and pay 10%, that $20K affects your quality of life in a much less noticeable way.
If you make $2 million and pay 10%, that $200K does not affect your quality of life in any way.
 
Misfit said:
In general, our tax system in the US is complicated by design so that people can make money off of it. The government could easily send you a bill/refund without the need for filing taxes if it wanted to, but they'd rather not. Direct File is getting killed because of donations by companies like Intuit to politicians. It's ridiculous.
Click to expand...
Yep. Almost every problem in this country can be traced back to someone making money on the problem who doesn't want the well to dry up. Capitalism has us held hostage at gunpoint. There's no finer example than health care.

My tax return was 1/4 of what it was last year. Fuck Donald Trump.
 
Last edited:
You must log in or register to reply here.
Back
Top