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Loopholes are good, they mean less tax, and corporations should not be paying any tax whatsoever. They should keep ALL THEIR EARNINGS and use them for reinvestment, research & development, paying dividends, and keeping prices attractive.
But instead they used the money on stock buybacks....wake up and quit worshipping corporations.
Here's another thought... Instead of giving the Fed Gov an interest free loan just so you'll get a bigger tax refund (one of the dumbest ideas I've ever heard ), take that same amount of prepaid federal tax overpayment and use it to pay down your highest rate debt. That could be revolving credit card debt, student loan debt, mortgage, car loan, etc. The net return on any of those would be equal to the interest rate you're paying on them.
I made more money, paid more in taxes and am getting back 1/3 the amount I got last year!
SOOOOOO HAAAPPPPY your rich 1% buddies got a tax break, they REEEAAAALLY need it.
Congrats however, now I know I'm voting for ANYONE but Trump.
So your personal income tax return is Trumps fault. Never heard personal income tax filings blamed on a president before. Could it perhaps be your withholding, deductions etc. I made the same money as last year (congrats on the increase in your income-GO TRUMP-) paid in less taxes by about 1,200 and got an additional 800 back on my return.
But instead they used the money on stock buybacks....wake up and quit worshipping corporations.
Eliminating outstanding shares strengthens their financial position which benefits ALL of the following: employees, clients/customers, shareholders, and corporate debt holders. Also, remember that 100+ million US retirees/workers have $28 trillion worth of investments in their pensions/retirement accounts. Those 100+ million people benefit when the corporations in which they're invested (as shareholders, corporate debt holders, etc.) strengthen their financial standing.
Nah, this was more of a 'big education' rah-rah rally. And interestingly, none of the examples 0bummer used involved someone starting a business and making it profitable. It was mostly about being in government or being a writer, or some other non-producing area. And that is because these people despise business.
Did the OP ever get around to describing how much their taxes went up relative to income?
Is this another case of someone too dumb to realize they got most of their return back due to withholding over the course of the year and now are sad because their return is smaller and they don't know what happened?
Or are they just suddenly caught off guard by the deduction cap that was widely known for over a year?
These anecdotal cases without providing key info and conflating the size of the return with taxes paid just makes me shake my head over the lack of financial literacy in this country.
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), take that same amount of prepaid federal tax overpayment and use it to pay down your highest rate debt. That could be revolving credit card debt, student loan debt, mortgage, car loan, etc. The net return on any of those would be equal to the interest rate you're paying on them.
