Barms

Yes and yes to the above. I just wanted to keep it simple so people stayed interested. If people truly understand my part it will really get them aware. I feel it’s important to really know. It all adds up to THIUSANDS of dollars a year. “I give $500 to goodwill and $500 to Red Cross but I get like 30% back in tax deduction”. Oh no you won’t if you standard deduction. “I moved to a new house. My taxes are like $4k higher, but it’s not really $4k more because of the deduction”. Probably not true anymore!

You have “earned income”. Most people get a paycheck. We call those people “W2 earners”. You get a gross wages number at end of the year. That gross wage starts being applied to a thing called marginal tax brackets. You owe zero taxes on the first part of gross wages call it 0 to 19k. Then from like 20k to 40k it’s like 10%. Then from 40 to 60k it’s like 22% and 5 more buckets all the way up to 39%. You add up all those increments and that is how much officially the Fed wants from your gross wages. That all in combo is your effective tax bracket. Just for this primer lets say you have 100k in gross wages and your effective bracket worked out to 29%. You earned 100 but only kept $71. $29 goes to Uncle Sam but wait, there are things you pay for in life that that you can apply to REDUCE your gross wages. Call that “adjusting” your gross wages. Have kids? Reduce a couple of grand, have a mortgage? Reduce your gross wages by the amount of mortgage interest you pay. Pay property taxes? Reduce by that. Pay state INCOME taxes? Get more reduction for that from the Fed the line is called “taxes paid to other jurisdictions”. Give to charity? Reduce by that too. So a lot of money laid out can “adjust” your income. Let’s say the sum of the kids, mortgage; prop taxes, state taxes and charity is. $11k. So your wages are not $100k they are $89k. Let’s assume same brackets as above 29% effective. You owe $11k x 29% LESS in taxes owed becsuse of deductions. $3 grand! next, you look at that $11k adjustment and you say man life is good with these deductions, but actually the Fed gives you an automatic minimum deduction if you choose. It’s currently $12k. So all those items you worked so hard tallying up to get to $11k is still not as beneficial as taking the STANDARD $12k now, if the sum of your kids mortgage property local income and charity is say $25k then you pass on the standard and you submit an ITEMIZED deduction list that brings your $100k down to $75k. Now let’s say that new smaller amount makes your effective bracket be 25%. You earned $100k and keep $75k of it. What if you had 7 kids and your property taxes were $20k and your mortgage interest was $20k and you made $10k in charity payments. Your adjusted wages is now $50k. $50k in wages is only like the 22% effective rate. So your gross wages is $100k your adjusted is 50k you only owe 22% on $50. You earned $100 you keep Ike $88 of it. So massive property taxes and state income taxes and 7 kids is great right? Pay less taxes! Not so fast. The Fed does not let someone have massive deductions relative to their gross wages. They ballpark by putting in a floor effective rate. It’s about 26% effective rate. So you THOUGHT you were gonna ow just 22% on 50k but the floor was 26% on the $100k. They are making you calculate your taxes owed an ALTERNATIVE way. You now owe $26k in taxes on your $100 not $12. anytime that alternative is triggered it doesn’t matter a single solitary cent how many kids you have, what your property taxes are etc. it doesn’t change your 26% floor whatsoever. If you were AMT only two things adjusted your wages your mortgage interest and your charity. Every other thing you listed is wasted ink. I will repeat that: you were not getting credit for your property taxes whether they were $5k or $50k a year. What will change in 2018? The standard deduction will rise to $24k from $12k. If you choose to take standard deduction your credit for kids, mortgage, property and charity go invisible. You don’t deduct anything bexise you are CHOOSING to take the $24k. Let thst sink in. Everything you thought “well at least i get a deduction” you will not. Including charity. THERE ARE NO DEDUCTIONS IF YOU CHOOSE STANDARD DEDUCTION. It is estimated that if the 30% of filers who choose to itemize in 2017; 2/3 of them will now choose the $24k standard. This is ground swelling change in taxes and entirely different outlook on tax deductions. If yiu still want to itemize in 2018 the bad news is they are capping the sum of property taxes and state taxes at $10k. This has high tax states up in arms. But remember if you were AMT you weren’t getting deduction for it anyway. 2018 they are abolishing the AMT (theoretically). So although my propety and income taxes is capped I’m doing better by the removal of that “implied” 26% amt bracket. The new brackets for 2018 are wider and the nominal rates are lower. Most come out ahead

mama fucking mia. People are dangerous. The above bold face quote is from Business Insider and if the next two paragraphs are read below in that article you it clear they are referring to state INCOME taxes not property taxes. Yes state income taxes are not allowed to be prepaid. Everything else in this thread is knowledge ignore the bold above. Holy fucking shit my head is gonna explode. Part of me is happy this will wake people up about their own taxes but it not gonna matter it all changes next year. read my lips you are allowed to prepay your property taxes unless your local town clerk is an asshole.

This is really good advice. In a nutshell you are trying to get more refund back of your 2017 by prepaying 2018 taxes. Those who pay more than $10k in property taxes and income taxes in 2018 will get “less” deduction in taxes (but still probably do better in 2018 anyway) this stratgy only works for 2017 if you choose to submit itemized deductions in 2017 versus standard deduction. AND you are not subject to AMT. I’ve said this before you really should examine your filing to see if you are AMT. I wish I knew what line number it is. But nevertheless you need like several thousand laying around to prepay these taxes to get that “savings”. But Howard is exactly right. Yiu are “earning”. 29% on that money you prepay Other great advice. Own ETFs instead of mutual funds (better cap gains taxes) and done own bonds in a taxable account. Only tax deferred accounts. (Bond inxome is taxes at your highest marginal bracket is robbery)

Okay so somehow in the setup you linked your mobile phone to it? Then the echo just acts like a tether to your phone?

Okay tell me more about connecting a phone to it? My landline or just mobile? how does the shopping list get stored? What app does it go to?

I’m trying really hard to want to get an Echo but when I ask people tell me what you use it for I don’t really get excited. In order of most popular responses: ”i play music on it”. Well I have speakers in my ceiling so I wouldn’t really care about that. ”It makes shopping lists”. Will it only make Amazon shopping lists or can I make a Costco or Home Depot list on it? “I don’t know” ”I control my lights with it”. “I ask it the weather. I ask it traffic”. Is it better than google maps? “I don’t know” ”my kids ask it questions for fun” i don’t think this motivates me enough to get one. Please change my mind.

Well I don’t “enjoy” giving the bad news. I just get very riled up very easy if I’m trying to wake someone up. And with finance stuff people take it very personally defensive. When you tell someone they’ve been misunderstanding their own taxes for over a decade they get very defensive. And I can understand that. It’s real simple to get enlightened about your own taxes. If you use Turbo tax or use an accountant. After you load up everything just do some toggling and see how your ending liability changes. DOUBLE mortgage interest, what did that do? Double your property taxes. Did that change your bottom line? Put in 6 kids what did that do? You wake up after doing that. Don’t toggle your income. Keep that the same. Just toggle everything your were told was supposed to be a tax deduction.

And speaking of charity. As about 20% more of the population will be choosing standard deduction it means they don’t get charity deductions. You take the standard dont brother getting receipts for goodwill or Salvation Army. Because you can’t deduct anymore (yes I am obsessed with this stuff)

Yes indeed misinformation. I have awakened like a dozen people in my office how AMT works. “Ya know yiou get ZERO credit for property taxes”. “No, that can’t be it’s just changing my bracket right?” “No, it’s zero. Doesn’t matter if your taxes were $7k or $70k it doesn’t change how much you owe”. “But I enter it on the tax firm right there”. “It gets ignored. You are getting credit for mortgage interest but not for property taxes” ”and you weeenr getting a child tax credit either”. “I wasn’t!?!?” “No. The only thing that lowered your AGI was your mortgage interest and your charity”

To anybody who is skeptical of the calculator above and they are pulling out their 2016 return to challenge the calculation please respond if your are paying AMT on your 2016 return. If yiu don’t know how AMT really works you really should not waste time opinig on taxes at all because you have been living in the MATRIX. Everrythig you think you were getting deductions for in the past you never were in reality. There is so much misinformation about this bill I’m pulling my hair out. The tax calculator linked above is very accurate. The reason why iit won’t exactly tie out to your prior year lability is probably because it’s not doing AMT. there was a NYTimes article this week with interviews of people who live in Livingston NJ those interviewed said they think they might pay $10k more in taxes. On the calculator you could NOT under any combination of incomes and mortgage interest get it to say you owe $10k. Impossible. The new brackets have wider attachment points and lower overall rates and the AMT is gone. You simply do not not say “my deductions before for SALT was 24k and now it will be only $10k therefore I will pay more. That is incorrect FULL STOP. i am AMT and I will win big under new plan.

Cavachon. King Charles and Bichon mix. Awesome. Awesome. 25 pounds max. No shedding.

Let me rephrase it’s wring if me to say any HvAC company that offers service contracts is bad. I’m just saying in this situation this guy would have been better off just finding a local guy. But it’s like he felt obligated to take whatever number the guy said to fix it because he’s already contracted with him.

Everyone with a furnace should have spare ignitor. A spare flame sensor. And know how to blw into the pressure switch. Yes NJ is fuxkdd up my exhaust fan rattled and I called TWO places and they told me “I’m not allowed to sell that to you “. Wtf!!! Regarding service contracts. At one point I resented not having one. But after hearing friend get his face ripped off two times by the company I just think service contract means “I have money you can rip me off.” He was told $1400 to replace a control board!!!” now, I just moved into a house that has a modern instant on gas blower thing on the wall and I feel very vulnerable i don’t know shit about how to trouble shoot these things. I would love to buy dinner/lunch for anybody who want to give me a primer on what to look out for on these high tech wall mounted furnaces.

I will leave the above post but after that I won’t reply anymore about this stuff. either you are on board with the next thing bigger than the internet or not. Me personally I am positioning myself for when ten years from now this is all normal that I’ve made a boat load of money from it. I didn’t have the foresight to see it in 2000. I’m not missing this one.

JohnRyan. By you making this statement: “Long(er)-term, governments and banks regulate the market and provide their own proprietary form of blockchain technology. Bitcoin and other de-centralized crytpo currencies will have laws that make their use either extremely inconvenient or outright illegal. “ Yo do not “get it”. The entire bitcoin experience is NO regulation. Everybody is so caught up in the idea that it’s fast and anonymous. That is not why it is taking over. It’s taking over because people don’t want a REGULATOR. The regulator in Venezuela sunk the currency 30%. The regulator in Zimbabwe said “no yiu cannot remove your money from your account.” Bitcoin is not exploding because of just Blockchain. It’s exploding because it is freedom Jack: I still disagree with you about the mining. They are not “looking” for bitcoin. They are adding on the additional hashes from all the tractions. They are using all that computing Jack. I still disagree with your statement “they are mining for bitcoin”. Do you know what a nonce is?

Anybody who says “i don’t see the need” has never lived in a country where the banking system has been shut down. Has never had to flee a country with only the shirt on their back. (This does not mean drug dealers it can be any refugee situation) They probably don’t travel much outside the US. Bitcoin was not created for anybody reading this forum. It was for the entire rest of the world that is seeking a decentralized currency system. It’s not about anonymity or speed and ease of moving money. It’s about not needing permission to do anything you want with your money. It will not replace FIAT. It will be in addition to. The people of the world want it. And it’s coming. Be in denial or not. It’s about choice. “But what if it goes down 50%?” There are huge populous that are okay with the CHANCE of 50% down to guard against “no, you cannot have your money now”. Miners are not mining for bitcoin. They are maintaining the Blockchain. Making the Blockchain is not hard. It’s easy. But it needs multiple “nodes” to agree on the output for a decentralized system to work. To just keep one super computer from doing all the work an extremely complex algorithmic Riddle is disbursed. Whoever solves the riddle first is compensated with bitcoin. Think of it as “my job is to maintain the Blockchain. And I get paid for it” this is my attempt to tell you guys why this thing is the monster that is destiny. (I’m not saying it won’t go down 75% on a glitch. I’m just telling you it’s bigger than you think). Is this thing called bitcoin the winner? I dunno but a decentralized transactional currency system is here to stay. And bitcoin is first out the gate. I’ll go back to bad videos now. Thank you for reading.

If I could only pay for Yeager training with bitcoin. I’d win both ways.

So his 25 yard head shot idea is not good? :-)

100 thousand new account openings every single day at Coinbase. And that’s just US customers. The mania is just beginning. The trend is up not down. 3x up. 4x up. 5x up pick a number. Way up before back down. Probably goes to zero someday. How about I say 100% chance it goes to zero some day. But for now the hype is on. The table is hot, do you increase the stack or go take a piss? I’m okay with taking a shot at up 5x or zero. I think that’s better odds than Atlantic City

Like 2 years ago my favorite videos were a guy from TN who did gun reviews from his backyard compound. And could hit an 80 yard gong with a hand gun. The other guy was a cranky fat guy from Philly who seemed very blue collar relatable and did gun and gear reviews from his basement. Again, seemed very knowledgeable. Back then i thought Yeager was a kooky radical. Then I discovered this Bloovman guy and he was really good discussing training with Sentinel Concepts guy. But in prolly the last 6 months maybe it’s YouTube sensorship but all three of those channels have gone to shit and I found myself watching Yeager out of desperation. And you know what? I like it. It’s changing my mindset ”you competition guys practice for speed, my students shoot for stress”. “You guys can target practice all you want to hit little red dot, but I want my guys to hit a head shot from 25 yards. Yes a head shot. These fucking psycho killers will be more and more wearing armor you gotta learn to take head shots” i guess two years ago I would have laughed at that but now I feel like I’m done thinking holster draw and 3 on the plate at 15 yards or whatever with shot timer. My next goal is a medium pace head shot at 25. Boy I hope my glasses are up to date.

My guess is it sees $50k before back to $2k CME futures trade in two weeks in it. Wouldn’t be there if it was the playground of drug dealers. Head of Blockchain.com said a Sovereign recognized digital currency will be in place within 2 years somewhere out of europe. The BOE already is asking them to keep on top of it.

Cmon, no new rich guys here ?

so my update on using the HDMI booster to send HDMI over Ethernet.. I bought the JTEC in the link for $50. it didn't work upon my first hookup. I then spent the next 60 minutes troubleshooting why "signal not found" was on my TV. I looked online. tried various configuarations of powering on/off and resetting the transmitters. No dice. I then resorted to pulling the TV off the wall and carrying it all the way over to the cable box in other room to see if I had a bad wire behind the wall causing the problems.. I was able to get it to work. So now the elimination was bad wires behind wall or bad cat5 or HDMI wires connecting the transmitters?.. again.. many minutes invested I figured it out that one of the Cat5e wires I was using was just not up to muster. I ordered at Cat6 similar to the other Cat6 that I was using in the chain that made the short signal work directly next to the box... it came yesterday and now the hookup works flawless as I wanted behind the walls. Who knew that there are differences in the quality of Cat5e or Cat6 lines. I've never heard of differnces in quality of coaxial cables.

Kwadz. If you decide to do this. I will send you the $22. I’m serious. Well worth it to see how the fight goes.