All we can do is vote.
Vote and eat popcorn.
I agree on those points, and the issue of selecting Senators, House is suppose to be close to the people.
Political Wasteland
- wap
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Good.Big Brain Bradley wrote: ↑Thu Nov 02, 2017 7:57 am https://www.yahoo.com/gma/house-tax-pla ... 07970.html
oh look the estate tax elimination is prob going to fail too, another broken campaign promise. Tax the dead. Stupid.
- goIftdibrad
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yea lets fuck the Millennials a little bit more, they can take it.wap wrote: ↑Thu Nov 02, 2017 1:15 pmGood.Big Brain Bradley wrote: ↑Thu Nov 02, 2017 7:57 am https://www.yahoo.com/gma/house-tax-pla ... 07970.html
oh look the estate tax elimination is prob going to fail too, another broken campaign promise. Tax the dead. Stupid.
also, everyone that not a with a little money is going to LLC themselves up the the 9's and then the gov will get screwed out of 100% of any estate tax, or even sales from assets of the dead (houses and the like).
brain go brrrrrr
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Big Brain Bradley wrote: ↑Thu Nov 02, 2017 1:22 pmyea lets fuck the Millennials a little bit more, they can take it.
also, everyone that not a with a little money is going to LLC themselves up the the 9's and then the gov will get screwed out of 100% of any estate tax, or even sales from assets of the dead (houses and the like).
It only applies to estates over like $10 million or something. Not many are impacted, but the poor Ivanka's of the world will be so bad off.
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well thats not as terrible thenwap wrote: ↑Thu Nov 02, 2017 2:35 pmBig Brain Bradley wrote: ↑Thu Nov 02, 2017 1:22 pm
yea lets fuck the Millennials a little bit more, they can take it.
also, everyone that not a with a little money is going to LLC themselves up the the 9's and then the gov will get screwed out of 100% of any estate tax, or even sales from assets of the dead (houses and the like).
It only applies to estates over like $10 million or something. Not many are impacted, but the poor Ivanka's of the world will be so bad off.
brain go brrrrrr
- troyguitar
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It's $5M, but
- troyguitar
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Also, anyone who has anywhere near $5M can figure out a way to stash it in various buckets such that the tax doesn't apply... It's 100% a non-issue.
Big Brain Bradley wrote: ↑Thu Nov 02, 2017 2:39 pm$5M but still taxed on sale of items.
well thats not as terrible then
- goIftdibrad
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As I said, LLC'ed to the 9'stroyguitar wrote: ↑Thu Nov 02, 2017 2:44 pm Also, anyone who has anywhere near $5M can figure out a way to stash it in various buckets such that the tax doesn't apply... It's 100% a non-issue.
brain go brrrrrr
- wap
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Weren't the property taxes shown on the listing sheet?[user not found] wrote: ↑Sat Dec 02, 2017 3:22 pm So, regretting buying a house in NJ in 5, 4, 3...
Fucking tax bill.
- CorvetteWaxer
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Time to start opening up more talking wallets.
Benny can show you how to turn and burn 'em.
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yea, its a bunch of shell shuffling. Half measures. You wont be affected.
brain go brrrrrr
- CorvetteWaxer
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Fuck them back to the fullest extent of staying on the legal side of the line. I'm talking to some people next week about options.[user not found] wrote: ↑Sun Dec 03, 2017 2:31 pmWhile likely I’m still this won’t fuck us.Big Brain Bradley wrote: ↑Sun Dec 03, 2017 1:33 pm
yea, its a bunch of shell shuffling. Half measures. You wont be affected.
Not sure the raising of the standard deduction and elimination of the state and local tax exemption won’t fuck us because we do itemize heavily due to the wife’s business.
Not much we can really do but get fucked anyway, though.
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I don't know the ins and outs but if you guys are not deducting more than 2x what the standard is now it should still be a net benefit[user not found] wrote: ↑Sun Dec 03, 2017 2:31 pmWhile likely I’m still this won’t fuck us.Big Brain Bradley wrote: ↑Sun Dec 03, 2017 1:33 pm
yea, its a bunch of shell shuffling. Half measures. You wont be affected.
Not sure the raising of the standard deduction and elimination of the state and local tax exemption won’t fuck us because we do itemize heavily due to the wife’s business.
Not much we can really do but get fucked anyway, though.
brain go brrrrrr
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Ah. Fuck that stupid shit.
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Big Brain Bradley wrote: ↑Sun Dec 03, 2017 6:23 pmI don't know the ins and outs but if you guys are not deducting more than 2x what the standard is now it should still be a net benefit[user not found] wrote: ↑Sun Dec 03, 2017 2:31 pm
While likely I’m still this won’t fuck us.
Not sure the raising of the standard deduction and elimination of the state and local tax exemption won’t fuck us because we do itemize heavily due to the wife’s business.
Not much we can really do but get fucked anyway, though.
I usually itemize, but new standard deduction is > my itemizations last year.
As the only published author in a well-known motorcycle publication in the room...
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ok.....so a little more about this now that i have time to kill.4zilch wrote: ↑Mon Dec 04, 2017 6:00 amBig Brain Bradley wrote: ↑Sun Dec 03, 2017 6:23 pm
I don't know the ins and outs but if you guys are not deducting more than 2x what the standard is now it should still be a net benefit
I usually itemize, but new standard deduction is > my itemizations last year.
Fundamentally, I don't like what they are doing because its a bandaid on a broken system.
HOWEVER, IMHO they are setting shit more 'the way it should be' to level the playing field.
Home interest deduction was always a bad idea and should get nixed. Unpopular opinion is unpopular, but hey it true. Now is a good time to do it.
Higher interest 'old' loans have low enough interest payments that they don't get to itemize anymore
Newer low interest loans simply don't pay enough in interest to get the deduction. Side note: curious to see if we get enough interest payment this year to itemize on our 265k 20% down 3.5% rate loan.
As an extension, the property tax deduction was a loophole places like TEXAS used to still get their money but not apply too much pressure to the tax base. Hey n00b, texas has no income tax and high property tax which allows to to deduct LOCAL taxes (currently on federal you can do local sales or state income but not both) and get their revenue via property tax while hiding behind the federal deduction.
Simplifying the bracket structure is good, but Im a flat tax (ie one bracket) guy.
discuss. hate me.
brain go brrrrrr
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yea. pretty much that.[user not found] wrote: ↑Mon Dec 04, 2017 8:04 amI don't disagree with the general plan but this execution sucks. Big time.Big Brain Bradley wrote:
ok.....so a little more about this now that i have time to kill.
Fundamentally, I don't like what they are doing because its a bandaid on a broken system.
HOWEVER, IMHO they are setting shit more 'the way it should be' to level the playing field.
Home interest deduction was always a bad idea and should get nixed. Unpopular opinion is unpopular, but hey it true. Now is a good time to do it.
Higher interest 'old' loans have low enough interest payments that they don't get to itemize anymore
Newer low interest loans simply don't pay enough in interest to get the deduction. Side note: curious to see if we get enough interest payment this year to itemize on our 265k 20% down 3.5% rate loan.
As an extension, the property tax deduction was a loophole places like TEXAS used to still get their money but not apply too much pressure to the tax base. Hey n00b, texas has no income tax and high property tax which allows to to deduct LOCAL taxes (currently on federal you can do local sales or state income but not both) and get their revenue via property tax while hiding behind the federal deduction.
Simplifying the bracket structure is good, but Im a flat tax (ie one bracket) guy.
discuss. hate me.
brain go brrrrrr
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Question about the capital gains exemption does that vary by state? So Jersey doesn't have a cap of 500k per couple or 250k per individual.[user not found] wrote: ↑Mon Dec 04, 2017 4:02 pm FYI: https://www.nar.realtor/sites/default/f ... Jersey.pdf
Timing > me.
Glad I bought the house $5.5k under market I guess?
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So I'm in the market to buy a house.... Hold off until Bernie in 2020? Lmao wtf happened...
Cliff notes on wtf just happened? I don't understand any of this. You won't be able to write off the interest of your house?
Why not go after business? Stop them from bullshit write offs. Flat tax them x%. It would keep them in check. It would make businesses keep other businesses in check.
Cliff notes on wtf just happened? I don't understand any of this. You won't be able to write off the interest of your house?
Why not go after business? Stop them from bullshit write offs. Flat tax them x%. It would keep them in check. It would make businesses keep other businesses in check.
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Nothing's been signed into law yet. The 2 houses are still working on reconciliation. But it won't be good for us working stiffs.NeonJonny wrote: ↑Fri Dec 08, 2017 4:08 pm So I'm in the market to buy a house.... Hold off until Bernie in 2020? Lmao wtf happened...
Cliff notes on wtf just happened? I don't understand any of this. You won't be able to write off the interest of your house?
Why not go after business? Stop them from bullshit write offs. Flat tax them x%. It would keep them in check. It would make businesses keep other businesses in check.
It'll be great for golf course owners, hotel owners, leasers of corporate jets and helicopters, and rich inheriters
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Hanger fees are a bitch. I'll probably let my heli go.
But for reals... Living in California doesn't help. But people that bitch about California don't really look at jobs out of state. Nurses and HVAC guys make similar pay out of state. My exact job would make 12 dollars an hour in Arizona so....I'm staying here. Fuck snow and temps below 50 degrees.
But for reals... Living in California doesn't help. But people that bitch about California don't really look at jobs out of state. Nurses and HVAC guys make similar pay out of state. My exact job would make 12 dollars an hour in Arizona so....I'm staying here. Fuck snow and temps below 50 degrees.
- goIftdibrad
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how much houseNeonJonny wrote: ↑Fri Dec 08, 2017 4:08 pm So I'm in the market to buy a house.... Hold off until Bernie in 2020? Lmao wtf happened...
Cliff notes on wtf just happened? I don't understand any of this. You won't be able to write off the interest of your house?
Why not go after business? Stop them from bullshit write offs. Flat tax them x%. It would keep them in check. It would make businesses keep other businesses in check.
also it really does not chane the math that much
brain go brrrrrr
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The smallest piece of shit with a 3 car garage. 400k? Houses in Corona are 415-450k. Finding something similar in OC is ghetto as fuck and tiny. I work in fountain valley. Debating on another street bike to commute. I don't know what the answer is.