No Profanity *** No Flaming *** No Advertising *** No Anti Trappers ***NO POLITICS
No Non-Target Catches *** No Links to Anti-trapping Sites *** No Avoiding Profanity Filter


Home~Trap Talk~ADC Forum~Trap Shed~Wilderness Trapping~International Trappers~Fur Handling

Auction Forum~Trapper Tips~Links~Gallery~Basic Sets~Convention Calendar~Chat~ Trap Collecting Forum ~ Live Chat

Trapper's Humor~Strictly Trapping~Fur Buyers Directory~Mugshots~Fur Sale Directory~Wildcrafting~The Pen and Quill

Trapper's Tales~Words From The Past~Legends~Archives~Kids Forum~Lure Formulators Forum~ Fermenter's Forum


~~~ Dobbins' Products Catalog ~~~


Minnesota Trapline Products
Please support our sponsor for the Trappers Talk Page - Minnesota Trapline Products


Print Thread
Hop To
New tax law's #8597242
Yesterday at 04:34 AM
Yesterday at 04:34 AM
Joined: Feb 2014
Ky
J
jbyrd63 Offline OP
trapper
jbyrd63  Offline OP
trapper
J

Joined: Feb 2014
Ky
The dreaded tax day is just around the corner. Got mine done on Thursday and was not looking forward to it at all. Last year we had to pay around 4,000 dollars. BUT THANK YOU TRUMP. The changes in the standard deduction and new tax tables lowered that amount to around 1.000 !!
YES the income was within couple thousand. so apples to apples
YES we chose to pay because I want to use MY MONEY during the year and not an interest free account for uncle sam to hold onto. IN fact we put 4,000 in a cd last April at 4.15% in anticipation of paying.

Off to the lake . Everyone have a great day
Haters go ahead and tear this apart I'll check back around 5 pm.

Re: New tax law's [Re: jbyrd63] #8597246
Yesterday at 05:00 AM
Yesterday at 05:00 AM
Joined: Apr 2015
NH
T
trapNH Offline
trapper
trapNH  Offline
trapper
T

Joined: Apr 2015
NH
I came out the same, 6000 last year to 1700 this year. cost me 20 dollars for not pying quartly. Go Trump.

Re: New tax law's [Re: jbyrd63] #8597247
Yesterday at 05:02 AM
Yesterday at 05:02 AM
Joined: Feb 2020
Indiana
P
Providence Farm Offline
trapper
Providence Farm  Offline
trapper
P

Joined: Feb 2020
Indiana
Did mine Thursday. With the standard deduction increase of over 30k increase in child tax credit, 25k in tax credit in overtime, and farm deductions my planing worked out well. Stayed in the tax bracket I was shooting for even with rolling 20k over from IRA to Roth. Could have rolled another 6k and stayed in the bracket but not bad for ball park figuring and not wanting to get to close. Still geting a nice refund. Over all pretty satisfied and also benefiting from the new Tax changes. The roll over will have the biggest effect long term for long term tax planning. Hopefully I can get everything into roth ira and roth 401 before I retire.

Re: New tax law's [Re: jbyrd63] #8597282
Yesterday at 07:45 AM
Yesterday at 07:45 AM
Joined: Feb 2014
East Texas
B
BTLowry Offline
trapper
BTLowry  Offline
trapper
B

Joined: Feb 2014
East Texas
OP the game is to pay enough through the year that you either get very little back or have to pay a small amount.

Don't need the feds making money on interest on my money either wink

Re: New tax law's [Re: jbyrd63] #8597300
Yesterday at 08:41 AM
Yesterday at 08:41 AM
Joined: Dec 2006
East-Central Wisconsin
B
bblwi Offline
trapper
bblwi  Offline
trapper
B

Joined: Dec 2006
East-Central Wisconsin
We file quarterly so we don't pay the penalty and the interest they add on. There are years based on the market returns when we are under a bit and get a fine a late payment fine as well. Yes the 12000 off the top did save us a few thousand this year.

Bryce

Previous Thread
Index
Next Thread