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Stadium Default - Tax Bill
Comments
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Nobody cares about the hypothetical family you’re choosing to be today.2001400ex said:
My taxable income will be $8k higher but taxed at a lower rate so I will save some money on the final package, mostly the child tax credit increase.CirrhosisDawg said:
True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.RaceBannon said:@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
It could have been a lot worse given what was proposed... -
Sounds like you care.doogie said:
Nobody cares about the hypothetical family you’re choosing to be today.2001400ex said:
My taxable income will be $8k higher but taxed at a lower rate so I will save some money on the final package, mostly the child tax credit increase.CirrhosisDawg said:
True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.RaceBannon said:@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
It could have been a lot worse given what was proposed... -
It's still cheaper to watch the games at home
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greenblood said:
I'm not an accountant, but if the business buys the tickets with the purpose of taking clients to games, I don't see why businesses can't deduct the proportion used for clients. I could be wrong...2001400ex said:Question is, can you still deduct it on your business? Does this only end for your personal return? Most people I know run husky tickets through their business. Same with Seahawks and Mariners.
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You seem to need some help. A deduction from your taxes simply makes that money non-taxable. So a $750 donation, where $600 was previously non-taxable, does not cost you $600; it costs you the taxes you would owe on the $600. Unless your are FS, you are not paying 100% of your income to the federal government, so, at most, you are probably losing $200 at a 33.33% tax rate ... suggesting your make approx half a million per year.UWhuskytskeet said:
Not even saying I disagree with it, just wondering how much this is going to fuck up season tickets next year. Tickets that cost $500 plus a mandatory $750 donation are now $600 more expensive since the $750 is no longer deductible.RaceBannon said:When I donated and when I stopped donating had nothing to do with deductions.
The rich need to pay their share is what I'm hearing
That being said I don't think that is your tax bracket. HTH.
All that being said ... everyone who thinks they are saving money with this tax bill is going to be surprised in a couple of years when the rates revert and they have lost a good portion of their deductions. -
You sound poor.CirrhosisDawg said:
True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.RaceBannon said:@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
It could have been a lot worse given what was proposed...
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Say it isn't so.2001400ex said:
My taxable income will be $8k higher but taxed at a lower rate so I will save some money on the final package, mostly the child tax credit increase.CirrhosisDawg said:
True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.RaceBannon said:@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
It could have been a lot worse given what was proposed...
Poor kid never had a chance -
I'm hearing big deals get done at UW vs Cal.
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So by a couple years you mean like 8?CSEDawg said:
You seem to need some help. A deduction from your taxes simply makes that money non-taxable. So a $750 donation, where $600 was previously non-taxable, does not cost you $600; it costs you the taxes you would owe on the $600. Unless your are FS, you are not paying 100% of your income to the federal government, so, at most, you are probably losing $200 at a 33.33% tax rate ... suggesting your make approx half a million per year.UWhuskytskeet said:
Not even saying I disagree with it, just wondering how much this is going to fuck up season tickets next year. Tickets that cost $500 plus a mandatory $750 donation are now $600 more expensive since the $750 is no longer deductible.RaceBannon said:When I donated and when I stopped donating had nothing to do with deductions.
The rich need to pay their share is what I'm hearing
That being said I don't think that is your tax bracket. HTH.
All that being said ... everyone who thinks they are saving money with this tax bill is going to be surprised in a couple of years when the rates revert and they have lost a good portion of their deductions.
https://www.youtube.com/watch?v=XEL65gywwHQ
