Jedd Fisch and new state income tax

After he deducts 37% federal taxes, Social Security and Medicare, property taxes, mortgage interest, and miscellaneous other deductions, he's not going to pay anywhere near $650k.

Have any of you bozos ever filed your own taxes? WTF.
 
flatus said:
After he deducts 37% federal taxes, Social Security and Medicare, property taxes, mortgage interest, and miscellaneous other deductions, he's not going to pay anywhere near $650k.

Have any of you bozos ever filed your own taxes? WTF.
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Lying Bob's state income tax is based on AGI less the $1 Million 'standard deduction'. Property taxes, mortgage interest and other deductions are itemized Post AGI on a federal return.

It's not like other standard state income tax forms/filings which generally follow the federal allowable itemized deductions. There is a deduction for charitable contributions limited to $100K.

They went in without lube. It will be a hefty tax on Jedd. Looks like it's going to be about $640K on Jedd if he maxes out the charitable deduction.

You want to amend your last sentence?
 
PurpleThrobber said:
Lying Bob's state income tax is based on AGI less the $1 Million 'standard deduction'. Property taxes, mortgage interest and other deductions are itemized Post AGI on a federal return.

It's not like other standard state income tax forms/filings which generally follow the federal allowable itemized deductions. There is a deduction for charitable contributions limited to $100K.

They went in without lube. It will be a hefty tax on Jedd. Looks like it's going to be about $640K on Jedd if he maxes out the charitable deduction.

You want to amend your last sentence?
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There's no way this tax comes out ahead of federal taxes. He'd be paying taxes on taxes. Show me.
 
flatus said:
There's no way this tax comes out ahead of federal taxes. He'd be paying taxes on taxes. Show me.
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You should download the law and read it. Section 308 through 311 show deductions and exemptions. The definition of AGI is also clear.

And pass the CPA test.

Then get back to me.
 
PurpleThrobber said:
You should download the law and read it. Section 308 through 311 show deductions and exemptions. The definition of AGI is also clear.

And pass the CPA test.

Then get back to me.
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Alright. I was out over my skis on this one apparently. This is remarkably brazen tax law, that's for sure, if it plays out like you're saying it will.
 
flatus said:
After he deducts 37% federal taxes, Social Security and Medicare, property taxes, mortgage interest, and miscellaneous other deductions, he's not going to pay anywhere near $650k.

Have any of you bozos ever filed your own taxes? WTF.
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Many moons ago I was a staff accountant. Generally speaking I know what I am talking about.
 
EsophagealFeces said:
I have gun rights, low crime, no homeless people, and schools where my kids aren’t encouraged to change genders. Sales tax is 4% lower here, gas is cheaper, nicotine is cheaper, booze is cheaper, cities are clean, I don’t see people on drugs everywhere I go, I could go on.
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I'd move to Ketchum in a hear beat buddy. But I'm too pour and too much isolation for Mrs Snow (a Boise native BTW).
 
digits said:
Imagine calling Washington, "Washington State." You sound like a Cuog or dumb fuck from out of state. HTH.
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Spent the first 19 years of my life in WA state. When it was still amazing. If you went anywhere, the rest of people in the US assume DC when you say WA. You sound poor, I guess that’s a positive since you won’t be effected by the new people with money tax.
 
There are sure a lot of people who call themselves accountants in here.

Poll idea: What is your profession/job/thing that you’re supposed to be doing when you’re not fucking around in here.
 
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