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Index » Regional/Local » USA/Canada » Taxes, Taxes, Taxes (and Taxes) Page: Previous  1, 2, 3, ... 70, 71, 72  Next
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sunybuny

sunybuny Avatar

Location: The West & Best Coast of FLA
Gender: Female


Posted: Mar 13, 2019 - 11:00am

And, as a total aside - cow-orker.... LOLOL  don't know if that is a new slam or a typo but I love it.
sunybuny

sunybuny Avatar

Location: The West & Best Coast of FLA
Gender: Female


Posted: Mar 13, 2019 - 10:59am



 ScottFromWyoming wrote:


 westslope wrote:


All that aside from the fact, that I have personally benefited from Canada's welfare state and see no reason not to contribute materially to that welfare state as a key part of a larger, collective social insurance policy.

 
Yeah I feel the same way except A) we don't have that and 2) we spend way too much on defense, so I also want to withhold as much as possible.

For the record, a couple of the deductions she was talking about were her commute to work (she gets a mileage reimbursement for work-related travel and I think that those miles can't be deducted again, but in no way can her mileage to/from the workplace be deducted. And he's claiming a home office. She doesn't work from home. She has a desk in a room where she pays household bills etc. but it's not a home office. I can't wait for that audit.
 
Silly, silly rabbit.... she has no idea what she could be in for (and we used a very good, respected CPA - the error was ours in what we reported to her).  That hell on earth lasted waaaaay too long.

ScottFromWyoming

ScottFromWyoming Avatar

Location: Powell
Gender: Male


Posted: Mar 13, 2019 - 10:52am



 westslope wrote:


All that aside from the fact, that I have personally benefited from Canada's welfare state and see no reason not to contribute materially to that welfare state as a key part of a larger, collective social insurance policy.

 
Yeah I feel the same way except A) we don't have that and 2) we spend way too much on defense, so I also want to withhold as much as possible.

For the record, a couple of the deductions she was talking about were her commute to work (she gets a mileage reimbursement for work-related travel and I think that those miles can't be deducted again, but in no way can her mileage to/from the workplace be deducted. And he's claiming a home office. She doesn't work from home. She has a desk in a room where she pays household bills etc. but it's not a home office. I can't wait for that audit.
westslope

westslope Avatar

Location: BC sage brush steppe


Posted: Mar 13, 2019 - 10:28am



 ScottFromWyoming wrote:


 westslope wrote:


 ScottFromWyoming wrote:
Cow-orker's accountant retired so she went to a new guy and is really excited because he told her about all sorts of deductions he'd claim for her. All illegal.
 
Right.  But is the new accountant competent at breaking the law undetected?  

 

We shall see. But I think not, if his clients are blabbing it all over the place. 
 
hehe.  Yeah.  Maybe the expected return is still positive — some clients get caught but most get away with the illegal deductions.    On the other hand, I imagine if US tax authorities catch more than one client, they will start looking at the tax returns of ALL the clients.  

FWIW, we have aggressively deducted items but never made false or illegal deductions.  Life is too short.  

As for US 'authorities', I learned a long time ago to have the utmost respect for US Customs and Border officials.   I always cross the border squeaky clean and 120% well behaved.   Reckon that I would behave the same with US tax authorities.  

All that aside from the fact, that I have personally benefited from Canada's welfare state and see no reason not to contribute materially to that welfare state as a key part of a larger, collective social insurance policy.

ScottFromWyoming

ScottFromWyoming Avatar

Location: Powell
Gender: Male


Posted: Mar 13, 2019 - 12:28am



 westslope wrote:


 ScottFromWyoming wrote:
Cow-orker's accountant retired so she went to a new guy and is really excited because he told her about all sorts of deductions he'd claim for her. All illegal.
 
Right.  But is the new accountant competent at breaking the law undetected?  

 

We shall see. But I think not, if his clients are blabbing it all over the place. 
westslope

westslope Avatar

Location: BC sage brush steppe


Posted: Mar 12, 2019 - 8:48pm



 ScottFromWyoming wrote:
Cow-orker's accountant retired so she went to a new guy and is really excited because he told her about all sorts of deductions he'd claim for her. All illegal.
 
Right.  But is the new accountant competent at breaking the law undetected?  

ScottFromWyoming

ScottFromWyoming Avatar

Location: Powell
Gender: Male


Posted: Mar 12, 2019 - 2:35pm

Cow-orker's accountant retired so she went to a new guy and is really excited because he told her about all sorts of deductions he'd claim for her. All illegal.
R_P

R_P Avatar



Posted: Feb 12, 2019 - 1:50pm

Did billionaires pay off Republicans for passing the Trump tax bill?
islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Dec 13, 2018 - 4:33pm



 Steely_D wrote:


 islander wrote:



So are you actually leaving or just getting a mailbox residence?  I'm okay with the former, but the latter is pretty shitty.  Sure you are paying some load for others, but you are also paying for the infrastructure and services of the place you live. I know several people who got a Montana mailbox for their 'permanent' residence, but spend 'winters' (usually October through May) in Palm Springs. They justify it with a similar line to yours of 'just taking care of ourselves', but  really they are just freeloading for half the year and justifying by complaining about the other people who are freeloading.
 

Reading my post, it says "moving away." I've been visiting Port Townsend and a few other WA places over the past few years. Wife likes Seattle, but I have the SAD so we're still looking. Probably chasing the sun - half the year in a residence and the other half seeing *gesturing* out there...

 After the wife and I spending the past 30 years doing nothing but helping people, including the indigent and homeless, and looking forward to a retirement with a latticework of volunteerism to keep us busy, and raising a boy who - without us knowing - spent his college years in a program where he weekly did routine foot care for the street people in Portland...I'm not leaping to the conclusion "gee - I'm taking more than I'm giving, aren't I?"


You'll get more bang for your "freeloader" buck if you talk about the rich who don't pay taxes, or corporations.


 
Sorry, didn't intend to be so accusatory. 

I know a few people here with palm springs winter homes, and they always complain about the taxes in CA, but then brag about how they are avoiding them.  And then they feign the need to do so while bragging about summer in the broughtons (7K$ in fuel) and winters golfing in the desert. They are also the type to complain loudly about 'those people', and 'takers', so it sort of peeves me. I didn't intend to lump you in with them.

I do understand the need to cut back and limit expenses. But it sounds like you are doing it right and budgeting for the retirement you want.  I hope to be there too someday.  I don't really have SAD so much as I just want a little more warmth and daylight.  Baja and the Caribbean call to me, I'll eventually need to figure out how to spend more than a week or two there.

Steely_D

Steely_D Avatar

Location: Biscayne Bay
Gender: Male


Posted: Dec 13, 2018 - 3:11pm



 islander wrote:



So are you actually leaving or just getting a mailbox residence?  I'm okay with the former, but the latter is pretty shitty.  Sure you are paying some load for others, but you are also paying for the infrastructure and services of the place you live. I know several people who got a Montana mailbox for their 'permanent' residence, but spend 'winters' (usually October through May) in Palm Springs. They justify it with a similar line to yours of 'just taking care of ourselves', but  really they are just freeloading for half the year and justifying by complaining about the other people who are freeloading.
 

Reading my post, it says "moving away." I've been visiting Port Townsend and a few other WA places over the past few years. Wife likes Seattle, but I have the SAD so we're still looking. Probably chasing the sun - half the year in a residence and the other half seeing *gesturing* out there...

haresfur

haresfur Avatar

Location: The Golden Triangle
Gender: Male


Posted: Dec 13, 2018 - 3:05pm

 islander wrote:


 miamizsun wrote:

 
 
 
Only seven states have no personal income tax:
  • Wyoming.
  • Washington.
  • Texas.
  • South Dakota.
  • Nevada.
  • Florida.
  • Alaska.
welcome to sunny florida 
 
{#Sunny}
 

I'm not sure how Florida is on balance, but while Washington doesn't have a state income tax (yet), we are certainly not without taxes. Property, sales, excise, leasehold.... we love our taxes.

 
Well, you can jump across the border to Oregon and avoid sales tax
islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Dec 13, 2018 - 2:59pm



 miamizsun wrote:

 
 
 
Only seven states have no personal income tax:
  • Wyoming.
  • Washington.
  • Texas.
  • South Dakota.
  • Nevada.
  • Florida.
  • Alaska.
welcome to sunny florida 
 
{#Sunny}

 

I'm not sure how Florida is on balance, but while Washington doesn't have a state income tax (yet), we are certainly not without taxes. Property, sales, excise, leasehold.... we love our taxes.
black321

black321 Avatar

Location: A sunset in the desert
Gender: Male


Posted: Dec 13, 2018 - 2:34pm



 miamizsun wrote:

 
 
 
Only seven states have no personal income tax:
  • Wyoming.
  • Washington.
  • Texas.
  • South Dakota.
  • Nevada.
  • Florida.
  • Alaska.
welcome to sunny florida 
 
{#Sunny}

 

Yikes, that's some list.  Maybe paying taxes aint so bad.  
islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Dec 13, 2018 - 2:08pm



 Steely_D wrote:


 black321 wrote:
Really California?   A text tax? Nice place, but wouldnt want to live there.

https://www.cnn.com/2018/12/12...
 
In a few years I'll get a bit of a pension, and I realize that living in CA means that the new people coming here (documented and otherwise) are going to require services. And that means money. And that means taxes on the people that have bothered to save and plan.

So I'm actively looking to move away to a state without a state tax. I really don't like the idea that my future stability will be eroded by that sort of inevitable demand.

Seems selfish, but part of being a grown up is making sure you and yours are OK.

 
So are you actually leaving or just getting a mailbox residence?  I'm okay with the former, but the latter is pretty shitty.  Sure you are paying some load for others, but you are also paying for the infrastructure and services of the place you live. I know several people who got a Montana mailbox for their 'permanent' residence, but spend 'winters' (usually October through May) in Palm Springs. They justify it with a similar line to yours of 'just taking care of ourselves', but  really they are just freeloading for half the year and justifying by complaining about the other people who are freeloading.

Proclivities

Proclivities Avatar

Location: Paris of the Piedmont
Gender: Male


Posted: Dec 13, 2018 - 1:22pm



 Steely_D wrote:


 black321 wrote:
Really California?   A text tax? Nice place, but wouldnt want to live there.

https://www.cnn.com/2018/12/12...
 
In a few years I'll get a bit of a pension, and I realize that living in CA means that the new people coming here (documented and otherwise) are going to require services. And that means money. And that means taxes on the people that have bothered to save and plan.

So I'm actively looking to move away to a state without a state tax. I really don't like the idea that my future stability will be eroded by that sort of inevitable demand.

Seems selfish, but part of being a grown up is making sure you and yours are OK.

 
:-7  
miamizsun

miamizsun Avatar

Location: (3261.3 Miles SE of RP)
Gender: Male


Posted: Dec 13, 2018 - 1:11pm

 Steely_D wrote:


 black321 wrote:
Really California?   A text tax? Nice place, but wouldnt want to live there.

https://www.cnn.com/2018/12/12...
 
In a few years I'll get a bit of a pension, and I realize that living in CA means that the new people coming here (documented and otherwise) are going to require services. And that means money. And that means taxes on the people that have bothered to save and plan.

So I'm actively looking to move away to a state without a state tax. I really don't like the idea that my future stability will be eroded by that sort of inevitable demand.

Seems selfish, but part of being a grown up is making sure you and yours are OK.
 
 
 
 
Only seven states have no personal income tax:
  • Wyoming.
  • Washington.
  • Texas.
  • South Dakota.
  • Nevada.
  • Florida.
  • Alaska.
welcome to sunny florida 
 
{#Sunny}

Steely_D

Steely_D Avatar

Location: Biscayne Bay
Gender: Male


Posted: Dec 13, 2018 - 11:55am



 black321 wrote:
Really California?   A text tax? Nice place, but wouldnt want to live there.

https://www.cnn.com/2018/12/12...
 
In a few years I'll get a bit of a pension, and I realize that living in CA means that the new people coming here (documented and otherwise) are going to require services. And that means money. And that means taxes on the people that have bothered to save and plan.

So I'm actively looking to move away to a state without a state tax. I really don't like the idea that my future stability will be eroded by that sort of inevitable demand.

Seems selfish, but part of being a grown up is making sure you and yours are OK.

pigtail

pigtail Avatar

Location: Southern California
Gender: Female


Posted: Dec 13, 2018 - 11:27am

 black321 wrote:
Really California?   A text tax? Nice place, but wouldnt want to live there.

https://www.cnn.com/2018/12/12...

 
sounds about right.........lol{#Rolleyes}
black321

black321 Avatar

Location: A sunset in the desert
Gender: Male


Posted: Dec 13, 2018 - 7:06am

Really California?   A text tax? Nice place, but wouldnt want to live there.

https://www.cnn.com/2018/12/12...
miamizsun

miamizsun Avatar

Location: (3261.3 Miles SE of RP)
Gender: Male


Posted: Jan 11, 2018 - 1:16pm

 black321 wrote:
So we've already seen the stories that the new tax law may not benefit some middle class people.  But the corp tax changes also may not help many of the cos. that need it the most - less profitable and highly leveraged.  The rate drops to 21%, but there is also a limit on interest deductions to just 30% of earnings before taxes and depreciation, instead of 100% under the old law.  This limit may completely or more than offset the lower tax rate.  So, the law is a big win for the rich/strong, and hurts the weak. 
 
i don't think many folks really know

i'm sure it's a lot of the same old yadda

i did a quick gleaning of this

What the GOP Tax Bill Means for Libertarians

"It's basically reassembling deck chairs on a really messy and horribly complex system": Q&A with Chris Edwards, CATO's Director of Tax Policy





Gillespie: Give us your general score card. Is this good? Is it bad? Is it somewhere in between?

Edwards: The main driver here is the corporate tax reforms. The United States has the highest corporate tax rate in the world. The Republicans would slash the corporate tax rate down pretty dramatically down to 20% at the federal level.

Gillespie: And that's from 35%?

Edwards: From 35 down to 20%. That sounds pretty low, but actually the global average rate is only 24% today. If you think about the United States, we've got our federal rate, but we've got state corporate taxes on top up to about 10% or more. Even with the Republican cuts, we'd only just barely start getting competitive globally. That's the corporate stuff.

Gillespie: Before we get to the individual side, with the corporate stuff, one of the things that opponents of tax reform say is, 'So, corporations make a huge amount of money. They're solelists literally and figuratively.' Why are we cutting taxes on corporations and what is the thinking behind that? Why is that a good thing?

Edwards: You'll hear critics say, 'American corporations are usually profitable today. A lot of them are sitting on a big pile of cash. Why do they need tax cuts?' The reason is because corporations are forward looking. They think about building a new factory here versus in Mexico or China, and they look at that stream of future profits and they look at how much the government tax grab on that will be. They might be sitting on cash now, but the reason they're not investing it is because the U.S. corporate tax rate is so high. You cut the corporate tax rate, corporations at the margin, there would be more factories, more hiring will make more sense in the United States versus our competitors. They will invest more in the long run, and they'll build more factories. You build more factories, you got to hire more workers, the demand for U.S. workers will go up and then wages will rise.

Gillespie: This sounds like Trump's, but this is Trump's nightmare, because then suddenly people from Mexico are going to start coming back to the United States instead of leaving, which is what's happening.

Edwards: You know the demand for labor will go up a lot. The reality, Nick, is that even though the U.S. unemployment rate is pretty low now, our participation rate in the labor force has been falling, especially for middle-aged men for a number of decades now. We want to get a lot of those folks off the sidelines back in the workforce. I think the corporate tax cut really goes to that issue.




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