Politics

psu_dad
Posts: 1804
Joined: Sun Aug 13, 2017 6:59 pm

Re: Politics

Postby psu_dad » Wed Feb 06, 2019 6:40 pm

From what I understand, if you didn't change your withholdings at the start of the year you could have a problem now.

If by "problem" you mean having to write a large check, that's the situation I'm in. But I don't consider it a problem. I prefer that to providing Uncle Sam an interest-free loan by over-withholding over the course of the year. He's certainly not going to give me an interest-free loan if I pay my taxes late. My point was that most people should see their total tax obligation for the year go down. Whether they had too little or too much withheld is a separate matter.

I was surprised/confused regarding Mad's comment about paying way more taxes this year on about the same income.
Klaatu barada nikto

PittGradPSUMad
Posts: 495
Joined: Fri Aug 11, 2017 8:47 pm

Re: Politics

Postby PittGradPSUMad » Wed Feb 06, 2019 9:24 pm

Just to be clear, we paid less federal income tax in 2018 but had fewer semolians withheld because of some circumstances related to Mrs. Mad's retirement which I was not aware of until the W2s showed up. Point being, I owe the IRS $$, and they're not getting it until April 15 at the stroke of midnight.
Yeah, well, that's like your opinion, man.

Blue&White
Posts: 3018
Joined: Sat Aug 12, 2017 10:01 am

Re: Politics

Postby Blue&White » Wed Feb 06, 2019 10:52 pm

My point was that most people should see their total tax obligation for the year go down

I think that's correct. Probably ~85% of the country (I'm guessing at the exact percentage) should see their total tax liability come down. People in states with high state and local taxes may be worse off (so people in parts of NJ, NY, CT, and even SEPA) but most people should be better off in terms of total tax liability.
Is it baseball season yet?

PSUgrower
Posts: 823
Joined: Thu Aug 17, 2017 10:52 am

Re: Politics

Postby PSUgrower » Thu Feb 07, 2019 10:56 am

Btw, I cannot believe that New Jersey voted on a 12% tax on vacation rentals. That is a bunch of crap and is not the capitalist way. We might have to pay an extra $300 (we are currently trying to find a loophole :D ) for our vacation rental just because some people are smart and use AirBnB! Apparently Jersey wants to level the playing field when it comes to renting beach houses. We spend A LOT of money when we go down there so whatever. There are 3 families that head down together and we are currently looking a bit further south to rent a beach house.

Blue&White
Posts: 3018
Joined: Sat Aug 12, 2017 10:01 am

Re: Politics

Postby Blue&White » Thu Feb 07, 2019 12:16 pm

They already had that on vacation rentals. What was happening was things like Air BNB were skirting it. So, the realtors who deal with rentals were pushing the legislator to even the playing field. And, they did. But, the sales and occupancy tax has existed on beach rentals for decades before this. All they did was expand it. My understanding was that it was not supposed to apply to private listings, but it may not have been finally drafted that way. Not sure. But, the intent was to stop certain players in the market from having an unfair advantage. I suppose the other option was they could have tried to outlaw things like AirBNB but that is going to be really tough to enforce and very unpopular.
Is it baseball season yet?

sameoldlama
Posts: 734
Joined: Wed Aug 16, 2017 7:43 am

Re: Politics

Postby sameoldlama » Thu Feb 07, 2019 12:50 pm

Take a look at any hotel bill or car rental bill you get (especially if you pick up car at airport) - if there is one thing politicians love it's taxing people who likely don't live in the state and can't vote against them for obscene taxes / surcharges etc.. (take a hard look at your phone / cable / utilities bills - a favorite hiding place for taxes and fees).

When I travel to TN the taxes on hotels is around 18%. On car rentals I've seen taxes and fees hit anywhere from 25-40%. Even though I live in a Podunk little town I've kicked in for a lot of pro stadiums in major cities.

Just wait until we have to start paying for all that free stuff.
Wendall : That's very linear Sheriff
Ed Tom : Age will flatten a man Wendall

PSUgrower
Posts: 823
Joined: Thu Aug 17, 2017 10:52 am

Re: Politics

Postby PSUgrower » Thu Feb 07, 2019 1:05 pm

Blue&White wrote:They already had that on vacation rentals. What was happening was things like Air BNB were skirting it. So, the realtors who deal with rentals were pushing the legislator to even the playing field. And, they did. But, the sales and occupancy tax has existed on beach rentals for decades before this. All they did was expand it. My understanding was that it was not supposed to apply to private listings, but it may not have been finally drafted that way. Not sure. But, the intent was to stop certain players in the market from having an unfair advantage. I suppose the other option was they could have tried to outlaw things like AirBNB but that is going to be really tough to enforce and very unpopular.

And that is fine, I will take my $3,000 that I spend for just my family and go to another state. It would be interesting to see if some of these States are pricing themselves out of tourists. We head to Wildwood every year and there are not a lot of people there for the most part. We head to Wildwood the 3rd week in June when it is still a little slow but things are dead for the most part during that time.

sameoldlama
Posts: 734
Joined: Wed Aug 16, 2017 7:43 am

Re: Politics

Postby sameoldlama » Thu Feb 07, 2019 1:34 pm

IMO the Jersey Shore priced themselves out about 15 years ago - I did group rentals for years - when those broke up the prices for weekly were obscene - and it's not like the restaurants / bars are cheap.

OCMD was much more affordable, travelling West to a National Park was much more affordable - for the price you can find cheaper options in Caribbean. I know a lot of people do the Carolinas and they say that is a much better value.
Wendall : That's very linear Sheriff
Ed Tom : Age will flatten a man Wendall

PSUgrower
Posts: 823
Joined: Thu Aug 17, 2017 10:52 am

Re: Politics

Postby PSUgrower » Thu Feb 07, 2019 1:59 pm

We were paying about $2400 per week which is not that bad at all for everything we get. I think the price was going to go up this year because it hasn't increased in about 4 years. It might increase this year to over $3000. I was looking online and there are some ridiculous cabins in PA where spending $2400 per week gets you an amazing house with a pool and everything else you could imagine.

Blue&White
Posts: 3018
Joined: Sat Aug 12, 2017 10:01 am

Re: Politics

Postby Blue&White » Thu Feb 07, 2019 2:08 pm

NJ hasn't priced or taxed itself out of the market yet. The beaches are still full and finding rentals is still pricey. That may change, but it hasn't happened yet

Lama - some of those "fees" you mentioned are pure bullshit. They are not all required by the state and local governments. They are scams t OP charge customers more without having to disclose the true price of something. There have been over the years several grassroots attempts to pass legislation at state and federal levels to make the practice illegal but it must always gets shot down. Seems protecting consumers from fraudulent billing is the kind if needless regulation that harms business.
Is it baseball season yet?