General Discussion

oldsoftie

(13,538 posts)

138. There you have it! Multiply your experience by MILLIONS of other people.

Mon Apr 8, 2024, 06:42 AM

Apr 2024

That adds up to REAL money! And thats why we need a sales tax/VAT along with a totally new & simplified tax code. Thousands of pages are simply ridiculous. But the people who write the laws also write the deductions for what they have. Unless we want the govt to give all of us a total financial colonoscopy, a sales/VAT tx is the ONLY way to get those high income "small business" people to actually PAY on that income. Because I know several of them and they're out spending that money.

And just for the hell of it, if you pay the MAGA guy over 600 in a yr I'd give him a 1099 just to stick In his craw

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I'm a CPA. I have been doing taxes since I graduated in 1984. [View all] ALBliberal Apr 2024 OP

This message was self-deleted by its author Wonder Why Apr 2024 #1

Ok ALBliberal Apr 2024 #4

The suppression of wages for a generation ThoughtCriminal Apr 2024 #2

Completely agree. ALBliberal Apr 2024 #5

raising the min wage to an actual living wage wd prolly fix the program. mopinko Apr 2024 #19

Living wage jobs lend to a civil society. The Wizard Apr 2024 #113

livable wage socialism RANDYWILDMAN Apr 2024 #128

The last living wage job I had was 50 years ago. The Wizard Apr 2024 #130

Longer than a generation kwijybo Apr 2024 #24

They think if they just didn't have ta pay no taxes, they'd have it made. Okay. No military? They don't realize no brewens Apr 2024 #35

In Estonia, the goverment calculates what you owe Wicked Blue Apr 2024 #3

I don't think that was the point. FoxNewsSucks Apr 2024 #6

Ya. My post was about the unfairness of the tax system. ALBliberal Apr 2024 #10

K gains OrangeJoe Apr 2024 #97

Capital gains and salary/earnings are both taxed in the US. brooklynite Apr 2024 #98

not at the same rate. but, I'm sure you know that FoxNewsSucks Apr 2024 #103

Perhaps the time to rant about this is when Democrats control the White House and Congress... brooklynite Apr 2024 #111

LOL dpibel Apr 2024 #127

Capital gains are taxed at lower rates than salary/wages. ALBliberal Apr 2024 #104

Page 37 Instructions for 1040 OrangeJoe Apr 2024 #118

I was about to do my taxes, I use TurboTax Nictuku Apr 2024 #7

Well I guess I put myself out there as a cpa ALBliberal Apr 2024 #8

I'm sure I'll figure it out Nictuku Apr 2024 #14

Sometimes a computer tech shop can recover files on a corrupted drive... you may want to check that as well... good luck bsiebs Apr 2024 #9

By the time I went and did that (I live rural), I could probably re-input all the relavent info. Nictuku Apr 2024 #15

True... I'm in Los Angeles... ignore my advice :) bsiebs Apr 2024 #33

Can't you get a copy of previous years return from TurboTax? Dan Apr 2024 #34

Only the online website version has a copy of it. Nictuku Apr 2024 #92

What I do with files. usonian Apr 2024 #43

Turbo tax is one of the companies Old Crank Apr 2024 #61

The files will have an extention IbogaProject Apr 2024 #74

The same thing happened to me year before last CountAllVotes Apr 2024 #80

Check your files on the computer you used karynnj Apr 2024 #85

Until we keep taxes on labor.... mjvpi Apr 2024 #11

Agree. But the exclusion of qualifying dividends (basically domestic dividends) ALBliberal Apr 2024 #12

Yes, that's the point I was hoping to make. mjvpi Apr 2024 #44

I'm sort of thinking that our wampum is only fiat currency anyway courtesy of the Backseat Driver Apr 2024 #93

I guess I was sort of thinking that our wampum is fiat currency anyway, courtesy of the Backseat Driver Apr 2024 #95

I've never understood why CDs and savings accounts TheFarseer Apr 2024 #129

Also CPA since 1980. I don't miss the 60-70 hour work week. Most of chicoescuela Apr 2024 #13

Yes. Maybe 7 years of 70 hour weeks during tax season. ALBliberal Apr 2024 #16

Thank you. My kids enjoy my casino career stories as they can be interesting. chicoescuela Apr 2024 #32

I think his point was,, surfered Apr 2024 #17

The United States is one of the few countries gab13by13 Apr 2024 #18

Geez. ShazzieB Apr 2024 #37

I will only say in doing your own taxes or being closely involved ALBliberal Apr 2024 #45

Returns are not "non-complicated" if your earnings are complicated brooklynite Apr 2024 #99

Thank you for posting this. love_katz Apr 2024 #20

Can't rescue your data (sometimes, disk rescue programs can) but a suggestion ... usonian Apr 2024 #21

This year with that $14000 standard deduction killed me. Retired n living on SS and a small pension. Hikerchick57 Apr 2024 #22

Also retired with SS and small pension soldierant Apr 2024 #56

We Pay Taxes On It ProfessorGAC Apr 2024 #70

Agreed Hikerchick57 Apr 2024 #96

That is soldierant Apr 2024 #119

Why does the standard deduction kill you? oldsoftie Apr 2024 #100

I used to be able to deduct a few things, Hikerchick57 Apr 2024 #108

But if the standard is higher than your previous deductions, oldsoftie Apr 2024 #114

Yep. You got it. That's how it works. n/t LuckyCharms Apr 2024 #115

Thanks, Hikerchick57 Apr 2024 #125

I'm not sure I understand either...lol Hikerchick57 Apr 2024 #124

Looking at it from a high level, it goes like this: LuckyCharms Apr 2024 #133

Thanks so much for that! I think I get it now, I was confused as you could tell. Hikerchick57 Apr 2024 #134

And inflation, especially on medical expenses, is killing me. snot Apr 2024 #109

The gap phase is terrible, my meds are out of hand. If my research is correct Hikerchick57 Apr 2024 #110

If we can win a blowout in Nov I hope this is high on our partys to do list in the first 2 years Cheezoholic Apr 2024 #23

Why should income from tips be tax free? MichMan Apr 2024 #40

Only to say it's another way to tax working income (why not demand qualifying dividends be taxed) ALBliberal Apr 2024 #46

Should all other income from work also be untaxed? MichMan Apr 2024 #51

All income should be taxed ALBliberal Apr 2024 #52

This message was self-deleted by its author MichMan Apr 2024 #66

We had all 3 branches '21-'23. Where were the big proposals? oldsoftie Apr 2024 #101

And the tax credits that should be indexed, aren't. nilram Apr 2024 #25

1972 and I am working a data entry job. We MOMFUDSKI Apr 2024 #26

Income from labor should be taxed the least. CrispyQ Apr 2024 #27

Obscene is the word for it, all right! ShazzieB Apr 2024 #39

Yep ALBliberal Apr 2024 #47

Bernie, AOC, Katie Porter, Elizabeth Warren and others have been right all along. PatrickforB Apr 2024 #28

Righteous rant. yardwork Apr 2024 #30

Preach!!! ShazzieB Apr 2024 #41

You made me post this. usonian Apr 2024 #42

And, the sooner we realize that this is not just a meme OldBaldy1701E Apr 2024 #67

Going philosophical ... Oops usonian Apr 2024 #78

I love it all. OldBaldy1701E Apr 2024 #87

"I'll be happy WHEN .... " usonian Apr 2024 #88

Very true. (n/t) OldBaldy1701E Apr 2024 #89

We need to march on Washington multigraincracker Apr 2024 #29

Marching is like prayer is like masturbation NanaCat Apr 2024 #63

Yep. Nothing will stop the rich multigraincracker Apr 2024 #65

I don't mind paying my share of tax but the tax on "my money" SS doc03 Apr 2024 #31

In NM we have stopped taxing social security ALBliberal Apr 2024 #49

We also have free public college Desert grandma Apr 2024 #57

At least the Germans and the USA have agreed that Social Security is subject to residence-based taxation DFW Apr 2024 #139

This I suppose will ruffle some feathers but why should my SS be taxed when I worked doc03 Apr 2024 #140

I know I should have looked into this earlier, but...... DFW Apr 2024 #141

SS was taken out of my pay every two weeks doc03 Apr 2024 #142

It still gets taken out of my pay as well. DFW Apr 2024 #143

Why I love Biden. He doesn't increase taxes on the middle class. applegrove Apr 2024 #36

i WAS a CPA moonbeam23 Apr 2024 #38

It's tough. I hang in there for my long time clients ALBliberal Apr 2024 #50

Well I guess if you are uberwealthy, you can buy a bunch of lobby type people who can whisper in the ears of the mitch96 Apr 2024 #48

They bank on us not being educated about taxes ALBliberal Apr 2024 #54

If you look at the changes in the tax code moonbeam23 Apr 2024 #60

It's hard work moondust Apr 2024 #53

Thanks for this post, ALBliberal Hekate Apr 2024 #55

THANK YOU Skittles Apr 2024 #58

Yes you do get f%%%ed ALBliberal Apr 2024 #59

I worked for IRS 10 yrs and prepared tax returns in CPA firms RipVanWinkle Apr 2024 #62

i worked for KMPG, we probably overlapped. small world. the days of "billable hours" ugh BlueWaveNeverEnd Apr 2024 #64

I too am a retired CPA. The tax system doesn't need fixed it needs replaced. All you stated is true. twodogsbarking Apr 2024 #68

We brought this on ourselves maxrandb Apr 2024 #69

What you've touched on Mr.Bee Apr 2024 #71

Wayne E. Brown founded Big Bear in 1933 maxrandb Apr 2024 #75

Here's one problem TheFarseer Apr 2024 #131

Convert $12.60 from 1980 dollars to 2024 dollars Mr.Bee Apr 2024 #81

By design a feature of the 2017 tax bill IbogaProject Apr 2024 #72

They lowered taxes on the rich Mr.Bee Apr 2024 #73

The 2017 tax bill also increased the standard deduction quite a bit MichMan Apr 2024 #136

The standard deduction increase is 'temporary' and slated to revert later IbogaProject Apr 2024 #144

Needs to be extended then MichMan Apr 2024 #145

Then we will have "increased the deficit" IbogaProject Apr 2024 #146

Accounting degree - not a CPA. Small business people pay ridiculous sums underpants Apr 2024 #76

Yeah, I know someone that is middle class and completely stopped paying their taxes. Jacson6 Apr 2024 #77

I think some GOPers ran on the flat tax idea. Remember, 9....9....9? Silent Type Apr 2024 #91

People getting paid in cash still wouldnt be paying anything MichMan Apr 2024 #126

Usually the company or person paying cash will be paying taxes on their income. Jacson6 Apr 2024 #135

Whenever a filthy-rich person gets a deduction Farmer-Rick Apr 2024 #79

That's because Mr.Bee Apr 2024 #83

Exactly Farmer-Rick Apr 2024 #86

I've gotten a taste of "wealth privilege" Happy Hoosier Apr 2024 #82

LIke Maurice Minnifield said in Northern Exposure.. mdmc Apr 2024 #117

Tax burden in this country has always been on backs of middle class and poor while the wealthy and corporations iluvtennis Apr 2024 #84

Nobody has mentioned how Trump's billionaire tax cut slowly increased the middle class tax burden world wide wally Apr 2024 #90

Fresh evidence: Republicans' tax breaks didn't pay for themselves LetMyPeopleVote Apr 2024 #94

Scrap the entire tax code. VAT tax, 3 tired flat income tax, treat ALL income equally, oldsoftie Apr 2024 #102

Does your "12% corp flat rate (which is HIGHER than what the avg corp is actually paying now) with NO deductions." kelly1mm Apr 2024 #120

Profit. Not revenue. oldsoftie Apr 2024 #122

Thanks for the clarification! nt kelly1mm Apr 2024 #123

Does your '12% corp flat rate (which is HIGHER than what the avg corp is actually paying now) with NO deductions.' kelly1mm Apr 2024 #121

Long-term capital gains tax rates are exploited by the middle class as well Shermann Apr 2024 #105

Nothing wrong with taking advantage ALBliberal Apr 2024 #106

How much of federal income taxes do the top 10% of earners pay? Silent Type Apr 2024 #107

Thats why so many proposals we see mentioned are unrealistic. oldsoftie Apr 2024 #132

This! I've never found good numbers for the 'untaxed income' Abolishinist Apr 2024 #137

There you have it! Multiply your experience by MILLIONS of other people. oldsoftie Apr 2024 #138

Wealthy people did not get wealthy Progressive dog Apr 2024 #112

I agree with you and see only one solution for myself mdmc Apr 2024 #116