How much are you saving/losing with the new tax cuts for the wealthy?

Discussion in 'The Mainboard' started by lechnerd, Dec 30, 2017.

  1. lechnerd

    lechnerd low energy lech
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    #1 lechnerd, Dec 30, 2017
    Last edited: Dec 31, 2017
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  2. Boo MFer!

    Boo MFer! Creator of the 'Official Dads of TMB' thread.
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    We get it; you’re a rich doctor.
     
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  3. dump

    dump Night King Poster
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    no one cares troll
     
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  4. 40wwttamgib

    40wwttamgib Fah Q

    Does the world really need five of your offspring running around?
     
  5. Boo MFer!

    Boo MFer! Creator of the 'Official Dads of TMB' thread.
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    Seriously though, wife and I have to file married filing single, so we can’t itemize shit.
     
  6. Jim Brockmire

    Jim Brockmire I think you're wildly underestimating heroin.
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    Spoke with my CPA today.

    Tax cuts will benefit me.

    #MAGA
     
  7. * J Y *

    * J Y * TEXAS
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    This tax bill is killing scores of people

    /tmb
     
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  8. wes tegg

    wes tegg I'm a Guy's guy, guys.
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    Assuming I quit donating, I’d pay considerably less. Since I give a lot away and itemize, I’ll pay more to the government than I used to.
     
  9. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    oh i see what we're doing tonight
     
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  10. IHHH

    IHHH Well-Known Member
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    I hope Texas a&m can get some type of deal on their taxes, after that dumbass contract they just gave out they will need all the breaks in the book
     
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  11. lechnerd

    lechnerd low energy lech
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    Are you going to stop donating because of the new tax bill?
     
  12. PCH

    PCH 2017 & 2019 National Champions - Clemson Tigers
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    Why??
     
  13. wes tegg

    wes tegg I'm a Guy's guy, guys.
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    No, but I won’t get the deductions and/or credits I used to get. I’m a relatively high earner who donates disproportionately and files individually, so I’m a distinct minority.
     
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  14. The Banks

    The Banks TMB's Alaskan
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    Don’t they have to pay like 33% more with the new tax bill?
     
  15. swiggs

    swiggs white skill player
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    11k in taxes isn't that much is it?
     
  16. NCHusker88

    NCHusker88 We named our yam Pam. It rhymed.
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    I'm a billion dollar corporation so I'm saving a ton
     
  17. Boo MFer!

    Boo MFer! Creator of the 'Official Dads of TMB' thread.
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    She participates in the Income Based Reduction act. Filing jointly means they take our combined income into account when determining her monthly loan payment. We run the scenario every year and filing jointly never makes up for the difference in payment.
     
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  18. lechnerd

    lechnerd low energy lech
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    Well if it’s not a lot why don’t you pay my taxes?
     
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  19. swiggs

    swiggs white skill player
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    Legitimately wondering because last year was my first year paying taxes so I have no idea
     
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  20. lechnerd

    lechnerd low energy lech
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    I dunno I think $11k is a lot of money, then again I blew $19k on ORIG so maybe I’m not the best person to ask.
     
  21. infected donkey

    infected donkey Arkansas Razorbacks
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    I’m fucked. Going to take a loan out just to pay taxes. Luckily this is a year I’ll make up the difference + a fuck ton so it’s a wash. If we didn’t have the tax code change I’d be about even.
     
  22. dukebuckeye

    dukebuckeye P.G.I.T
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    I paid ~$32k in federal taxes alone last year, so yeah, $11k is very little for a billionaire doctor.
     
  23. TrustyPatches

    TrustyPatches Pupils wider than backhoe tires
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    I bet lechnerd isnt actually a billionaire
     
  24. Boo MFer!

    Boo MFer! Creator of the 'Official Dads of TMB' thread.
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    Zillionaire, IMO IYAM.
     
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  25. Arkadin

    Arkadin inefficiently efficent and unclearly clear
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    I thought he was talking about what he owed at tax time, not his gross taxes paid.
     
  26. dukebuckeye

    dukebuckeye P.G.I.T
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    That would make A LOT more sense. I've been drinking, so I could've read that wrong.
     
  27. DistantFactor

    DistantFactor Sesquipedalian
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    I paid about $40k in fed taxes last year, and will pay about $3k more when I normalized my 2016 return for the new tax changes.
     
  28. DistantFactor

    DistantFactor Sesquipedalian
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    Someone needs to fix their W4 to not owe so much and pay a penalty then.
     
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  29. Arkadin

    Arkadin inefficiently efficent and unclearly clear
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    lechnerd 's tax guy is lechnerd so the work isn't always the best
     
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  30. C A N E

    C A N E Well-Known Member
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    That's just income tax...
     
  31. GoodForAnother

    GoodForAnother I got a little problem with you not fuckin me
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    Not enough to sleep at night while kids lose Medicaid coverage
     
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  32. lechnerd

    lechnerd low energy lech
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    I paid $70k total in taxes last year when it was all said and done. Only $59k was deducted from my paychecks, hence the $11k I owed come tax time.
     
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  33. dukebuckeye

    dukebuckeye P.G.I.T
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    That would make more sense. Like I said, I read that initial post wrong.
     
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  34. lechnerd

    lechnerd low energy lech
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    I think my underpayment penalty was $100 bucks last year.

    Well worth it to wait unti April to pay the full amount due.
     
  35. TrustyPatches

    TrustyPatches Pupils wider than backhoe tires
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    Let ya boy hold about a hundy for New Years. I'll Snapchat you every shenanigan you pay for
     
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  36. lechnerd

    lechnerd low energy lech
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    Hit me up next year.

    The tax cuts won’t have me realizing any gains until early 2019.
     
  37. TrustyPatches

    TrustyPatches Pupils wider than backhoe tires
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    Sweet. I'll probably have Snapchat downloaded by then
     
  38. Doc Louis

    Doc Louis Well-Known Member
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    Some doctor you are, not even hitting the 30% bracket. Get some nurse practitioner oversight contracts mixed in there next time.
     
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  39. Shakedown

    Shakedown Well-Known Member
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    .
     
    #39 Shakedown, Dec 31, 2017
    Last edited: Dec 31, 2017
  40. Shakedown

    Shakedown Well-Known Member
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    High W-2 earners aren't going to get much out of this tax bill. It won't really be a negative but it's not going to save us much money either. And depending on the state you live in I suppose it could be a net negative. Or if one has a massive mortgage they probably have no business having.

    But this tax bill wasn't really targeted at high W-2 earners. No one cares about us - we make plenty of money and we don't create any jobs.
     
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  41. DistantFactor

    DistantFactor Sesquipedalian
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    He’s talking about the new phase our levels, and you can still deduct interest in the massive mortgage since they are grandfathered in. Just can’t refinance now.
     
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  42. lechnerd

    lechnerd low energy lech
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    The 5th one is not set in stone.

    What I can tell you definitively is he/she was not created last night.
     
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  43. leroi

    leroi Rival Shark Boat Captain
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    does the tax bill impact medicaid? or were you just referring to the gop in general being a bunch of shitbags
     
  44. cutig

    cutig My name is Rod, and I like to party
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    That’s what they are going to target to cut spending. Paul Ryan said as much.
     
  45. xec

    xec Well-Known Member
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    We are moving from the 28% bracket to the 32% bracket. Fuck Trump.
     
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  46. Houndster

    Houndster Ball don't lie
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    I’ll save about $3k if I made the same this year and don’t cash out any investments.
     
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  47. leroi

    leroi Rival Shark Boat Captain
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  48. Randy Bobandi

    Randy Bobandi Well-Known Member
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    Save a little more than 3K this year.
     
  49. GoodForAnother

    GoodForAnother I got a little problem with you not fuckin me
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  50. leroi

    leroi Rival Shark Boat Captain
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    if u say so