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Trump's Full Court Press on Tax Reform

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El Guapo
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Re: Trump's Full Court Press on Tax Reform

Post by El Guapo » Wed Jan 31, 2018 1:02 pm

hepcat wrote:
Wed Jan 31, 2018 12:59 pm
May be a false alarm. Looks like the "catch up" mechanic for my 401k is adding an additional 6000 a year to my deductions. I had to pour over my check line by line to find out what was happening. I was just looking at the direct deposit number and was annoyed to see a drop. When I referred to the tax brackets, I realized I was right on the cusp of a change and immediately assumed that was it.
Just to be clear, going into a new bracket only impacts the marginal taxes on new dollars over the threshold, and does not impact the taxation of the money earned up to that threshold.

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Re: Trump's Full Court Press on Tax Reform

Post by hepcat » Wed Jan 31, 2018 1:05 pm

I should have stayed at a Holiday Inn Express last night. Maybe then I'd have known that. :(
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Re: Trump's Full Court Press on Tax Reform

Post by noxiousdog » Wed Jan 31, 2018 1:35 pm

hepcat wrote:
Wed Jan 31, 2018 12:59 pm
May be a false alarm. Looks like the "catch up" mechanic for my 401k is adding an additional 6000 a year to my deductions. I had to pour over my check line by line to find out what was happening. I was just looking at the direct deposit number and was annoyed to see a drop. When I referred to the tax brackets, I realized I was right on the cusp of a change and immediately assumed that was it.
Tax brackets are marginal. You can go up a bracket, but it's only on the dollars inside that bracket.
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Re: Trump's Full Court Press on Tax Reform

Post by hepcat » Wed Jan 31, 2018 1:47 pm

You mean what El Guapo wrote? :P :wink:
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Re: Trump's Full Court Press on Tax Reform

Post by Remus West » Wed Jan 31, 2018 2:13 pm

hepcat wrote:
Wed Jan 31, 2018 1:47 pm
You mean what El Guapo wrote? :P :wink:
Given the situation should you really be poking fun of other people's reading right now? :P
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Re: Trump's Full Court Press on Tax Reform

Post by hepcat » Wed Jan 31, 2018 2:20 pm

It's the internet, man. I should be critiquing you for a missing comma, someone else for hating Quark's character on Deep Space Nine, railing about the inclusion of a female lead in the new Star Wars trilogy AND bitching about my hot pocket's lack of more meat.
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Re: Trump's Full Court Press on Tax Reform

Post by LordMortis » Wed Jan 31, 2018 2:31 pm

I guess I wasn't alone in not wanting to be subjected to TV last night.

http://tvbythenumbers.zap2it.com/daily- ... n-30-2018/
Coverage on the Big 4 networks (including post-speech analysis) drew 19.8 million viewers, pending updates, vs. 23 million for the address last year (which was technically not a State of the Union, as incoming presidents get a year before their first formal SOTU). In metered-market households, the four-network average was a 14.8 rating, compared to 16.0 last year.

Trump’s 2017 address drew a combined audience of 47.74 million on cable and broadcast last year; final numbers for the State of the Union will be out later in the day.
That's not too much more than 5% of the populace is it?

Compared to Obama's record low

https://www.politico.com/blogs/on-media ... 016-217718
Obama's final State of the Union address draws record-low TV audience

By ALEX WEPRIN

01/13/2016 01:50 PM EST

President Barack Obama's final State of the Union address drew 31.3 million viewers across 12 networks, marking a new record low in viewership, according to Nielsen.

More than 21 million people watched on the "big four" broadcast networks. CBS led the broadcasters with 6.89 million viewers, followed by NBC with 6.62 million viewers, ABC with 5.02 million viewers, and Fox with 2.37 million.
Obama's worst is bigger than Trump's first.

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Re: Trump's Full Court Press on Tax Reform

Post by LordMortis » Wed Jan 31, 2018 2:34 pm

hepcat wrote:
Wed Jan 31, 2018 2:20 pm
It's the internet, man. I should be critiquing you for a missing comma, someone else for hating Quark's character on Deep Space Nine, railing about the inclusion of a female lead in the new Star Wars trilogy AND bitching about my hot pocket's lack of more meat.
why is it hot pockets go from molting lava to cold in the space of a few minutes and those few minutes cannot be predicted by any means known to man?

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Re: Trump's Full Court Press on Tax Reform

Post by Jeff V » Wed Jan 31, 2018 2:38 pm

LordMortis wrote:
Wed Jan 31, 2018 2:34 pm
hepcat wrote:
Wed Jan 31, 2018 2:20 pm
It's the internet, man. I should be critiquing you for a missing comma, someone else for hating Quark's character on Deep Space Nine, railing about the inclusion of a female lead in the new Star Wars trilogy AND bitching about my hot pocket's lack of more meat.
why is it hot pockets go from molting lava to cold in the space of a few minutes and those few minutes cannot be predicted by any means known to man?
The chemical reactions among the rare earth elements contained within require a PhD to fully comprehend.

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Re: Trump's Full Court Press on Tax Reform

Post by hepcat » Wed Jan 31, 2018 2:38 pm

And why call them hot pockets? If you're going to go with the clothing motif, wouldn't hot sleeves be more apt?
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Re: Trump's Full Court Press on Tax Reform

Post by LordMortis » Wed Jan 31, 2018 2:40 pm

I think they started with Hot Cod Piece but didn't want to be associated with fish. Hot Jockstraps was too vulgar and pockets sounded close enough.

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Re: Trump's Full Court Press on Tax Reform

Post by hepcat » Wed Jan 31, 2018 2:41 pm

Thankfully I wasn't holding a hot pocket when I looked at my pay stub earlier...
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Re: Trump's Full Court Press on Tax Reform

Post by El Guapo » Wed Jan 31, 2018 2:43 pm

hepcat wrote:
Wed Jan 31, 2018 2:41 pm
Thankfully I wasn't holding a hot pocket when I looked at my pay stub earlier...
Did your monocle pop out in shock?

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Re: Trump's Full Court Press on Tax Reform

Post by hepcat » Wed Jan 31, 2018 2:43 pm

Damn it, now I want a monocle.

p.s. now this...THIS...is how the internet works.
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Re: Trump's Full Court Press on Tax Reform

Post by El Guapo » Wed Jan 31, 2018 2:50 pm

hepcat wrote:
Wed Jan 31, 2018 2:43 pm
Damn it, now I want a monocle.

p.s. now this...THIS...is how the internet works.
Tell your boss that you need the rest of the day off to go by a monocle, then come back, put the monocle in, look at your paystub, and have the monocle pop out in shock.

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Re: Trump's Full Court Press on Tax Reform

Post by LordMortis » Wed Jan 31, 2018 3:06 pm

He Peanut? heplanterscat? Herr Peanut? HerpC?

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Re: Trump's Full Court Press on Tax Reform

Post by hepcat » Wed Jan 31, 2018 3:17 pm

This is why I always laugh when someone mentions monocles.
El Guapo wrote:
Wed Jan 31, 2018 2:50 pm
Tell your boss that you need the rest of the day off to go by a monocle,
Just to be clear, I can drive or walk by it, but I can't purchase it?

That seems rather mean. :cry:
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Re: Trump's Full Court Press on Tax Reform

Post by El Guapo » Wed Jan 31, 2018 4:24 pm

hepcat wrote:
Wed Jan 31, 2018 3:17 pm
This is why I always laugh when someone mentions monocles.
El Guapo wrote:
Wed Jan 31, 2018 2:50 pm
Tell your boss that you need the rest of the day off to go by a monocle,
Just to be clear, I can drive or walk by it, but I can't purchase it?

That seems rather mean. :cry:
Well, the procedure is that you walk by the monocle place, and if the monocle place identifies you as sufficiently high-class to own a monocle, they will usher you inside.

But you would know that if you were high class, I suppose. :snooty:

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Re: Trump's Full Court Press on Tax Reform

Post by LordMortis » Wed Jan 31, 2018 4:32 pm

El Guapo wrote:
Wed Jan 31, 2018 4:24 pm
But you would know that if you were high class, I suppose. :snooty:
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Re: Trump's Full Court Press on Tax Reform

Post by Max Peck » Wed Jan 31, 2018 4:37 pm

hepcat wrote:
Wed Jan 31, 2018 2:43 pm
Damn it, now I want a monocle.

p.s. now this...THIS...is how the internet works.
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Re: Trump's Full Court Press on Tax Reform

Post by malchior » Wed Jan 31, 2018 4:57 pm

Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.

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Re: Trump's Full Court Press on Tax Reform

Post by LordMortis » Wed Jan 31, 2018 5:00 pm

malchior wrote:
Wed Jan 31, 2018 4:57 pm
Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.
Wait if this is retro pay then I only get a 2% bump!

Thanx Obama!

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Re: Trump's Full Court Press on Tax Reform

Post by stessier » Wed Jan 31, 2018 5:03 pm

malchior wrote:
Wed Jan 31, 2018 4:57 pm
Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.
I'm sure you know, but be sure to adjust when the IRS puts out the new forms in the next few weeks. I'm confident you will indeed get a penalty if you underpay by enough.
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Re: Trump's Full Court Press on Tax Reform

Post by Alefroth » Wed Jan 31, 2018 5:05 pm

We're just going to let him get away with molting lava?

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Re: Trump's Full Court Press on Tax Reform

Post by LordMortis » Wed Jan 31, 2018 5:07 pm

stessier wrote:
Wed Jan 31, 2018 5:03 pm
malchior wrote:
Wed Jan 31, 2018 4:57 pm
Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.
I'm sure you know, but be sure to adjust when the IRS puts out the new forms in the next few weeks. I'm confident you will indeed get a penalty if you underpay by enough.
I once owed $2,000 and there was a form that my tax software spit out at me that said if i was going to continue doing that I would need to start filling out quarterly estimates and pay them. I ignored it, figuring it's not my fault they weren't taking enough money. I did change my withholding though and dropped it from 1 to 0 because $2,000 took me by :shock:

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Re: Trump's Full Court Press on Tax Reform

Post by GreenGoo » Wed Jan 31, 2018 5:14 pm

Alefroth wrote:
Wed Jan 31, 2018 5:05 pm
We're just going to let him get away with molting lava?
Forget it Alef, it's Mortistown.

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Re: Trump's Full Court Press on Tax Reform

Post by El Guapo » Wed Jan 31, 2018 5:15 pm

malchior wrote:
Wed Jan 31, 2018 4:57 pm
Got my first paycheck in the new regime and it is bonkers off. I got a nice raise that retro'ed to the beginning of the year but I estimate it is still off by hundreds of dollars. Tax season is going to be a blast for people like me getting banged by the SALT deduction with NY/NJ level state taxes next year. I honestly don't even know what to do. I better not get a penalty for this shit.
People have been hitting the Trump administration for rushing this stuff. It's not crazy conspiracy land to note that they care a lot more about you having a higher paycheck in 2018 than they do about you getting angry about a large tax bill in 2019.

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Re: Trump's Full Court Press on Tax Reform

Post by Zarathud » Wed Jan 31, 2018 5:39 pm

There are real questions about the ability of the IRS to put together the forms for the 2017 Tax Act by 12/31. It's going to be a madhouse.
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Re: Trump's Full Court Press on Tax Reform

Post by Octavious » Wed Jan 31, 2018 5:40 pm

I'm actually going to intentionally withhold more as I just don't trust that this isn't a total cluster f.
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Re: Trump's Full Court Press on Tax Reform

Post by Jeff V » Wed Jan 31, 2018 8:44 pm

Zarathud wrote:
Wed Jan 31, 2018 5:39 pm
There are real questions about the ability of the IRS to put together the forms for the 2017 Tax Act by 12/31. It's going to be a madhouse.
How hard can it be to design a post card? :P

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Re: Trump's Full Court Press on Tax Reform

Post by malchior » Wed Jan 31, 2018 9:10 pm

Well I talked to ADP -- to clarify someone from payroll and ADP since the payroll person also thought it was wrong -- and if I read between the lines right - they simply guessed on the withholding. Sounds like they had no guidance from the IRS.

Also this just in:


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Re: Trump's Full Court Press on Tax Reform

Post by hepcat » Wed Jan 31, 2018 9:54 pm

Alefroth wrote:
Wed Jan 31, 2018 5:05 pm
We're just going to let him get away with molting lava?
It’s Mortis. We’re just lucky he used vowels.
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Re: Trump's Full Court Press on Tax Reform

Post by Zarathud » Wed Jan 31, 2018 10:57 pm

Jeff V wrote:
Zarathud wrote:
Wed Jan 31, 2018 5:39 pm
There are real questions about the ability of the IRS to put together the forms for the 2017 Tax Act by 12/31. It's going to be a madhouse.
How hard can it be to design a post card? :P
If you could pay your taxes by a post card, the IRS already over-collected the tax you owed from wage income.

And this tax bill fucked up the entire system of withholding rules without notifying the IRS -- because they were making it up on their own at the last minute. But only for 7 years when any postcard disappears.
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Re: Trump's Full Court Press on Tax Reform

Post by Kraken » Wed Jan 31, 2018 11:14 pm

Whatever "raise" we get from underwithholding is going right into the savings account so that I can pay it back next April. Being in a blue state, I'm assuming my tax cut is just an illusion meant to buy my vote in November. Worst (best) case, I'll have set aside a chunk of money that I won't need.

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Re: Trump's Full Court Press on Tax Reform

Post by pr0ner » Wed Jan 31, 2018 11:35 pm

I plan on using my tax cut to increase my contributions to my TSP.
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Re: Trump's Full Court Press on Tax Reform

Post by Kraken » Thu Feb 01, 2018 3:16 am

pr0ner wrote:
Wed Jan 31, 2018 11:35 pm
I plan on using my tax cut to increase my contributions to my TSP.
Your teaspoon?

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Re: Trump's Full Court Press on Tax Reform

Post by pr0ner » Thu Feb 01, 2018 8:29 am

Kraken wrote:
Thu Feb 01, 2018 3:16 am
pr0ner wrote:
Wed Jan 31, 2018 11:35 pm
I plan on using my tax cut to increase my contributions to my TSP.
Your teaspoon?
My Thrift Savings Plan. The government version of a 401(k).
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Re: Trump's Full Court Press on Tax Reform

Post by $iljanus » Thu Feb 01, 2018 9:54 am

hepcat wrote:And why call them hot pockets? If you're going to go with the clothing motif, wouldn't hot sleeves be more apt?
I prefer hot pouch. Yeah, that's all I have for this thread.
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Re: Trump's Full Court Press on Tax Reform

Post by El Guapo » Thu Feb 01, 2018 9:59 am

$iljanus wrote:
Thu Feb 01, 2018 9:54 am
hepcat wrote:And why call them hot pockets? If you're going to go with the clothing motif, wouldn't hot sleeves be more apt?
I prefer hot pouch. Yeah, that's all I have for this thread.
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Re: Trump's Full Court Press on Tax Reform

Post by Daehawk » Thu Feb 01, 2018 10:39 am

Be thankful. They're long and cylindrical and full of filling so it could be worse.
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