Thoughts, as you prepare your 2018 Tax Returns.

unbeknownst to me
Topic Author
Cans+String

2 months 4 weeks ago - 2 months 2 weeks ago #33780 by unbeknownst to me

Thoughts, as you prepare your 2018 Tax Returns. was created by unbeknownst to me

The concept of "withholding taxes” makes us grateful for any refund.

But in the scheme of things "withholding taxes” tend to keep us complacent.

“Withholding taxes” are a relatively new concept for our Republic and should give the thoughtful tax payer pause for thought.

Here's an excellent article , well worth any tax payers time to read..

fee.org/articles/wartime-origins-of-modern-income-tax-withholding/

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unbeknownst to me
Topic Author
Cans+String

2 months 2 weeks ago - 2 months 2 weeks ago #34113 by unbeknownst to me

Replied by unbeknownst to me on topic Thoughts, as you prepare your 2018 Tax Returns.

I just did the 2018 income taxes for a friend of mine who doesn't itemize.

To my surprise, the standard deduction is now $12,000
Last year the standard deduction was $6,350

This change in the tax code will allow him to realize over $600 in tax savings. He is quite pleased, since he is currently struggling financially.

The following user(s) said Thank You: Chelle, joseph, st3fx

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joseph
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2 months 2 weeks ago #34114 by joseph

Replied by joseph on topic Thoughts, as you prepare your 2018 Tax Returns.

The new Trump tax code has indeed been beneficial for the majority of Americans, including those with financial difficulties as you mentioned regarding your friend.

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Chelle
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2 months 2 weeks ago #34118 by Chelle

Replied by Chelle on topic Thoughts, as you prepare your 2018 Tax Returns.

My taxes look like a phone book, by the time they're done-- and my CPA charges me over a thousand bucks to do them.

I sure would love a simplified tax code that enabled even small business owners to do their own taxes.

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PEW
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2 months 2 weeks ago #34120 by PEW

Replied by PEW on topic Thoughts, as you prepare your 2018 Tax Returns.

Would you release (post) your tax return?

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Chelle
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2 months 2 weeks ago #34123 by Chelle

Replied by Chelle on topic Thoughts, as you prepare your 2018 Tax Returns.

PEW wrote: Would you release (post) your tax return?

As soon as I declare my candidacy for president.

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Chosen
Cans+String

2 months 2 weeks ago #34124 by Chosen

Replied by Chosen on topic Thoughts, as you prepare your 2018 Tax Returns.

Chelle wrote:
PEW wrote: Would you release (post) your tax return?

As soon as I declare my candidacy for president.

Chelle for PRESIDENT!!!
You got our votes Chelle.

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joseph
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2 months 2 weeks ago #34151 by joseph

Replied by joseph on topic Thoughts, as you prepare your 2018 Tax Returns.

Chelle wrote: My taxes look like a phone book, by the time they're done-- and my CPA charges me over a thousand bucks to do them.

I sure would love a simplified tax code that enabled even small business owners to do their own taxes.

What kind of business do you run?

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lexusl21
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2 months 2 weeks ago #34155 by lexusl21

Replied by lexusl21 on topic Thoughts, as you prepare your 2018 Tax Returns.

My vote costs 10 cellnuvo gold

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Chelle
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2 months 2 weeks ago #34163 by Chelle

Replied by Chelle on topic Thoughts, as you prepare your 2018 Tax Returns.

joseph wrote:
Chelle wrote: My taxes look like a phone book, by the time they're done-- and my CPA charges me over a thousand bucks to do them.

I sure would love a simplified tax code that enabled even small business owners to do their own taxes.

What kind of business do you run?

We own a retail store.

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