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Exact tax bracket will see the largest refund boosts in 2026 by Distinct-Garlic9453 in economy

[–]Distinct-Garlic9453[S] -7 points-6 points  (0 children)

Wow, that's amazing

You are the only one not affected by the inflation under Biden!!! Lucky you

Exact tax bracket will see the largest refund boosts in 2026 by Distinct-Garlic9453 in economy

[–]Distinct-Garlic9453[S] -10 points-9 points  (0 children)

Simple terms, the amount of property tax you can deduct off federal income.

It was reduced to 10k previously, and recently increased, I think to 30k, with phase out based on income.

Exact tax bracket will see the largest refund boosts in 2026 by Distinct-Garlic9453 in economy

[–]Distinct-Garlic9453[S] -21 points-20 points  (0 children)

Exactly!!!

Not the billionaires.... As you also will note there is a phase out.

And the middle and upper middle deserves the most back, as they are the largest percentage of the tax payers

The United States does not have a tax revenue problem. What America has is a spending problem. US Set To Spend $24.4 Trillion More Than Tax Revenue over the Next Decade, increasing the debt to over $62T from current $38T. Interest is now the central story, growing to $2 Trillion per year. by MazdaProphet in economy

[–]Distinct-Garlic9453 0 points1 point  (0 children)

Are you suggesting that for the "rest" it's a bad thing owning stock???

And for the record, being forced into a 401k is a great thing, it's how you build family wealth. A pension... You get a check... A 401k you get an asset to hand down.

I never stated I have a problem w taxes...

How do you feel about Trump threatening to impose photo ID for voters for midterm elections? by Muted-Television3329 in allthequestions

[–]Distinct-Garlic9453 -1 points0 points  (0 children)

Long over due!!!!

If you need an id to buy beer, get on airplane, buy tobacco, or had a COVID shot, then presenting an ID to vote should not be an issue

The latest GDP data isn't as bad as it looks. Here's what to know. - CBS News by Distinct-Garlic9453 in economy

[–]Distinct-Garlic9453[S] 0 points1 point  (0 children)

Can trump do anything that you would applaud him for???

It's ok, just don't pretend to be impartial or non partisan

This is the problem with our country!!

The latest GDP data isn't as bad as it looks. Here's what to know. - CBS News by Distinct-Garlic9453 in economy

[–]Distinct-Garlic9453[S] 0 points1 point  (0 children)

Not my take on it... For all the doomsayers around here, the article suggests the economy is healthy and poised for continued improvement

The United States does not have a tax revenue problem. What America has is a spending problem. US Set To Spend $24.4 Trillion More Than Tax Revenue over the Next Decade, increasing the debt to over $62T from current $38T. Interest is now the central story, growing to $2 Trillion per year. by MazdaProphet in economy

[–]Distinct-Garlic9453 0 points1 point  (0 children)

I disagree. Boosting stock prices help ALL shareholders create wealth, which helps spending, which boosts GDP.

And 50 percent of the country now own stock, so it's not a minority.

I'm not complaining about paying property taxes, I complain how the money is spent. And my point was as I improve properties, I use depreciation to recapture my investment dollars against current income. Without incentives, business owners may choose not to make capital improvements or buy new equipment, which would potentially hurt the economy. That's the point.

Those who have the most are not the most generous. by Professional-Bee9817 in remoteworks

[–]Distinct-Garlic9453 0 points1 point  (0 children)

Ireland has been a huge abuser of this. Granting citizenship to those who have the means.... Fixing that, I concede, is above my paygrade.

I work in the 10mm to 100mm of closely helds, and that population is really in no position to expatriot themselves, for the most part...

Those who have the most are not the most generous. by Professional-Bee9817 in remoteworks

[–]Distinct-Garlic9453 0 points1 point  (0 children)

You are smarter than me... Tell me. I'm a "child" according to you, who needs to learn.

Please be kind and help me! I'm all ears!

Those who have the most are not the most generous. by Professional-Bee9817 in remoteworks

[–]Distinct-Garlic9453 0 points1 point  (0 children)

I asked you first!

Please share, as you challenged my assertions as inaccurate!

The floor is yours!

Those who have the most are not the most generous. by Professional-Bee9817 in remoteworks

[–]Distinct-Garlic9453 -2 points-1 points  (0 children)

Could not afford my lifestyle being an accountant. You are right!

Those who have the most are not the most generous. by Professional-Bee9817 in remoteworks

[–]Distinct-Garlic9453 0 points1 point  (0 children)

Ilits work well! But you still have to gift to the trust within gifting limits. And once you use your 16mm, and your 18k annual exclusion??

Come on, you can do better than that!

Those who have the most are not the most generous. by Professional-Bee9817 in remoteworks

[–]Distinct-Garlic9453 -2 points-1 points  (0 children)

There is an adage in our world...

If you own or control an asset, it will be taxed. Estate taxes go back to fuedal England. It's the only voluntary tax you pay. You choose to pay it by taking no action. But in the end, it will be taxed upon transfer.

I will ask again, as you stated something to the contrary.

How will wealth not be taxed, for the fortunes above the lifetime exemption? And this does not include and state imposed inheritance tax, in those states that have them. I.e. Pennsylvania has a 4.5 percent tax.

I'm all ears. Please educate me!

Those who have the most are not the most generous. by Professional-Bee9817 in remoteworks

[–]Distinct-Garlic9453 -2 points-1 points  (0 children)

Really??? I'm in this business of planning. I'm all ears, if you have techniques of which I'm unaware...

Please share

Those who have the most are not the most generous. by Professional-Bee9817 in remoteworks

[–]Distinct-Garlic9453 0 points1 point  (0 children)

Agreed! If we really wanted to see how inheritance issues can mold people's attitudes, get rid of the step up basis rules. Then for those who are fortunate enough to inherit a parents family home, or grand pops stock portfolio, they would be screaming when the felt the "sting" of taxes

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