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Perfectlap · 04-13-2019, 05:17 PM

My accountant just finished my taxes. First time in 27 years I got a $0.00 tax return. In their infinite wisdom the GOP decided to cap SALT deductions on the very middle class workers already carrying a disproportionate share of the federal tax burden in high revenue generating states. Given that the only time the tax code is overhauled is when one party controls both Congress and the White House, exceedingly rare now, this absurdity of a tax code will likely stick for at least another seven years.

....So my extinct tax return... multiplied by 8 years, plus the lost returns on that money for the next 20 to 30 years and it's basically like I worked the entire 2018 year and had my entire income erased. Awesome. So much winning.

My tax return this year was meant to cover extra at-home care for my terminally ill father that his insurance will not pay for. But it's not all bad news the wealthiest at my place of work had the top income tax bracket reduced by 2% and get tax cuts for buying private jets. The carried interest loophole still nicely untouched so that applicable millionaires can pay lower effective tax rates than I do. And shockingly... despite my company netting a 20% cut in the corporate tax rate I saw no increase in my compensation above the rate of inflation. Did I mention that my family expenses (aka mom and dad) doubled running as high as $20k in a single two month period? (Cancer is not cheap it turns out) I missed several months of work to take care of my very ill parents out of state so my income also took a hit. double whammy. And no not a dime of these family expenses were deductible. You'd better make do as much as you can with that new standard deduction that comes at the cost of miscellaneous deductions getting torched.
I really should have purchased a private jet to fly my sick parents around! Kill two birds with one stone. What was I thinking. Did I need this tax return more this year than any previous year? No says the Greatest President in history according to the GOP.

Thanks Trump! This is exactly what I call tax reform for the working class.

Happy tax day America!! Monday April 15th!!

04-13-2019, 05:17 PM	#1
Perfectlap Registered User Join Date: Nov 2004 Location: New Jersey Posts: 8,709	Thanks Trump My accountant just finished my taxes. First time in 27 years I got a $0.00 tax return. In their infinite wisdom the GOP decided to cap SALT deductions on the very middle class workers already carrying a disproportionate share of the federal tax burden in high revenue generating states. Given that the only time the tax code is overhauled is when one party controls both Congress and the White House, exceedingly rare now, this absurdity of a tax code will likely stick for at least another seven years. ....So my extinct tax return... multiplied by 8 years, plus the lost returns on that money for the next 20 to 30 years and it's basically like I worked the entire 2018 year and had my entire income erased. Awesome. So much winning. My tax return this year was meant to cover extra at-home care for my terminally ill father that his insurance will not pay for. But it's not all bad news the wealthiest at my place of work had the top income tax bracket reduced by 2% and get tax cuts for buying private jets. The carried interest loophole still nicely untouched so that applicable millionaires can pay lower effective tax rates than I do. And shockingly... despite my company netting a 20% cut in the corporate tax rate I saw no increase in my compensation above the rate of inflation. Did I mention that my family expenses (aka mom and dad) doubled running as high as $20k in a single two month period? (Cancer is not cheap it turns out) I missed several months of work to take care of my very ill parents out of state so my income also took a hit. double whammy. And no not a dime of these family expenses were deductible. You'd better make do as much as you can with that new standard deduction that comes at the cost of miscellaneous deductions getting torched. I really should have purchased a private jet to fly my sick parents around! Kill two birds with one stone. What was I thinking. Did I need this tax return more this year than any previous year? No says the Greatest President in history according to the GOP. Thanks Trump! This is exactly what I call tax reform for the working class. Happy tax day America!! Monday April 15th!! Last edited by Perfectlap; 04-13-2019 at 06:04 PM.