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Tax cuts and jobs act

2001400ex
2001400ex Member Posts: 29,457
in Tug Tavern
Just going over a tax return for a buddy. He had a couple rentals as his only income. Well.... Thanks to Republicans, if you get more than $3,500 in investment income, then you don't qualify for the earned income credit. So he's out $3,416. Nice work!!! Bezos enjoyed his multi million dollar tax cut tho. I'm sure he'll put that back in the economy.
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  • pawz
    pawz Member, Moderator, Swaye's Wigwam Posts: 22,475 Founders Club
    No One Believes that anyone would let a burger flipper do their taxes for them.
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  • 2001400ex
    2001400ex Member Posts: 29,457
    pawz said:

    No One Believes that anyone would let a burger flipper do their taxes for them.

    Sic burn bro.
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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,117 Standard Supporter
    2001400ex said:

    Just going over a tax return for a buddy. He had a couple rentals as his only income. Well.... Thanks to Republicans, if you get more than $3,500 in investment income, then you don't qualify for the earned income credit. So he's out $3,416. Nice work!!! Bezos enjoyed his multi million dollar tax cut tho. I'm sure he'll put that back in the economy.

    Da fuq would anyone let an audit guy do taxes?!?!

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  • greenblood
    greenblood Member Posts: 14,560
    Renting out two rooms as an Air B&B isn’t the same as having two rentals. HTH
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  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 114,099 Founders Club
    Hondo and his stupid friends are back

    Did he complain about his refund?

    If he owns 2 houses why should the government give him money?
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  • 2001400ex
    2001400ex Member Posts: 29,457
    PurpleThrobber said:

    2001400ex said:

    Just going over a tax return for a buddy. He had a couple rentals as his only income. Well.... Thanks to Republicans, if you get more than $3,500 in investment income, then you don't qualify for the earned income credit. So he's out $3,416. Nice work!!! Bezos enjoyed his multi million dollar tax cut tho. I'm sure he'll put that back in the economy.

    Da fuq would anyone let an audit guy do taxes?!?!

    Exactly. I don't even do my own tax return. Good thing for turbo tax and the freedom file edition.
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  • 2001400ex
    2001400ex Member Posts: 29,457
    greenblood said:

    Renting out two rooms as an Air B&B isn’t the same as having two rentals. HTH


    He actually owns two trailers. But I would think the air B&B situation would apply too. I'm sure they do a 1099.
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  • 2001400ex
    2001400ex Member Posts: 29,457
    RaceBannon said:

    Hondo and his stupid friends are back

    Did he complain about his refund?

    If he owns 2 houses why should the government give him money?


    Because he makes shit for money. Everyone else who makes under $25k a year with kids gets an earned income credit. Why should a property owner not?

    Republicans for the win!!!

    Best thing is. He's a hard core Trump supporter. I've argued politics with him starting around the Iraq war. Fuck he loved that war. He was excited to watch Bush kick ass on Fox news.
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  • SFGbob
    SFGbob Member Posts: 33,183
    RaceBannon said:

    Hondo and his stupid friends are back

    Did he complain about his refund?

    If he owns 2 houses why should the government give him money?

    Hondo is complaining because his "friend" no longer is able to suck off the public teat by getting an EITC but when other people get to keep more of the money they have earned according to Hondo they are being "subsidized."
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  • USMChawk
    USMChawk Member Posts: 1,800
    Sounds like he paid $0.00 for taxes for 2018. So you’re upset that he didn’t get a $3461.00 credit of money he didn’t pay? Here’s what we know about your friend; he’s filing as a single person, with one kid, and make less than $25k (all of that from rental properties). Sounds like your friend needs to get a job and quit relying on the government for handouts.
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