Politics

PittGradPSUMad
Posts: 432
Joined: Fri Aug 11, 2017 8:47 pm

Re: Politics

Postby PittGradPSUMad » Tue Jan 09, 2018 1:07 pm

Sorry for your luck. I'd love to discuss it further, but I don't have the time.....too busy counting the bounty of my middle class miracle.
Yeah, well, that's like your opinion, man.

sameoldlama
Posts: 668
Joined: Wed Aug 16, 2017 7:43 am

Re: Politics

Postby sameoldlama » Tue Jan 09, 2018 1:18 pm

I don't think the tax cuts will show up in checks until Feb. My initial checks of year are lower due to NJ SUI contributions (which max out after a few months) and late in the year the SSDI maxs out.

I'd say wait a few paychecks and check your FIT hit.
Wendall : That's very linear Sheriff
Ed Tom : Age will flatten a man Wendall

Blue&White
Posts: 2625
Joined: Sat Aug 12, 2017 10:01 am

Re: Politics

Postby Blue&White » Tue Jan 09, 2018 1:51 pm

I thought it was showing up in January. And, I know the first few checks of the year are always lower for all that other stuff, but I assumed it would be better than last year.

I'll keep an eye out but, so far, not impressed.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

Carl Spackler
Posts: 420
Joined: Mon Oct 02, 2017 3:22 pm

Re: Politics

Postby Carl Spackler » Tue Jan 09, 2018 3:43 pm

Possibly you need to adjust your W-4?
So I got that going for me...which is nice. It's a cross between Kentucky Bluegrass, Featherbed Bent and Northern California Sensimilla so you can play 36 holes on it,take it home at night and get stoned to the begesses belt

Shane
Posts: 140
Joined: Sun Aug 13, 2017 7:07 pm
Location: Curwensville, Pa

Re: Politics

Postby Shane » Tue Jan 09, 2018 3:52 pm

I also heard that we won't see any difference in our paychecks until February.

Blue&White
Posts: 2625
Joined: Sat Aug 12, 2017 10:01 am

Re: Politics

Postby Blue&White » Tue Jan 09, 2018 4:43 pm

And I thought the only good thing about February was the start of spring training.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

psu_dad
Posts: 1732
Joined: Sun Aug 13, 2017 6:59 pm

Re: Politics

Postby psu_dad » Wed Jan 10, 2018 8:20 am

"No one ever died from paying too much taxes" -- Anonymous
Fire Alex Cora. (On hold pending further review)

sameoldlama
Posts: 668
Joined: Wed Aug 16, 2017 7:43 am

Re: Politics

Postby sameoldlama » Wed Jan 10, 2018 8:55 am

I work in R&D - translation - with a bunch of OCD, anal analyticals and several of them have evaluated the changes and impact and all of them have said they expected to benefit from changes (they were all PA guys - not Tax Jersey so the onerous property / income tax potential deduction loss did not impact them). I would say their tax situations probably mirror B&W's more than lama's (kids, mortgage).

I would say cautious optimism is the word here.

And yeah nobody died from paying too much in taxes but they did work longer and some of them died their instead of the golf course (or in dad's case at dance class).
Wendall : That's very linear Sheriff
Ed Tom : Age will flatten a man Wendall

Blue&White
Posts: 2625
Joined: Sat Aug 12, 2017 10:01 am

Re: Politics

Postby Blue&White » Wed Jan 10, 2018 9:19 am

From what I can tell, if I refinance my house to get rid of the home equity loan I should be ok. It won't be any kind of windfall but the reduced rates should offset the loss of some of the SALT deductions. I'm kicking that process off this week. I'm sort of annoyed about it, too. I refinanced my house with a 20 year mortgage at 3.5% back in mid 2012. I am now under 15 years (but over 14) and I'm going to re-start the freaking clock on 15 years because of this bill.

But, in fairness, the cost of interest on the home equity loan keeps going up and up now and, from a cashflow perspective, I'm better off. I could probably continue to pay what I'm paying now in interest and the principle I pay off each money and it wouldn't take long to take the few months off the mortgage that I'm losing.

It's hard to say for certain until I get through a year and do taxes. My wife is self employed and I think she may have lost a few more deductions. I was reading through some of the details and there are a bunch things that went in and came out in terms of deductions. Ask me again in March of 2019 when I finish my 2018 taxes and I'll know better.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

Blue&White
Posts: 2625
Joined: Sat Aug 12, 2017 10:01 am

Re: Politics

Postby Blue&White » Wed Jan 10, 2018 9:27 am

Btw, on an unrelated side note:

Last night I told my wife that if the 2020 election is Trump vs. Oprah, we're moving to another country. There is no way I'm staying for that.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?