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Old 12-21-2017, 05:49 PM   #81
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Well, finally sat down to estimate my generic 2018 tax return with and without the new tax law. For my family situation, get about a $1500 federal tax savings. ($1K due to having two college kids).
For 2017, established a DAF so I'll itemize for the first time in 20 years, and probably the last time ever.
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Old 12-21-2017, 07:26 PM   #82
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Originally Posted by Lsbcal View Post
My crystal ball says to bank some of those stock market profits now. Greed is overcoming fear. Maybe a 1962 type decline? Just theorizing here.
That’s was a dramatic sell off that even had a flash crash, and disenchanted retail investors for years to come!

(I had to go read about it)
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Old 12-21-2017, 08:51 PM   #83
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So no more property tax or local income tax deductions, that's not good news for tax payers in states like CA.
Honestly, property/income taxes have never been good news for CA, and some other states with high local taxes. It's good news for the other states which will no longer have to endure subsidizing the spending in those states.
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Old 12-21-2017, 09:04 PM   #84
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Well, that certainly clarifies everything. Or maybe nothing. Or. . .

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I am not sure about any favors, but here is an article that says the wage increases were a direct result of the tax cuts.
Asked directly to confirm that the pay raises were not a result of the tax bill, Gilchrist said, “That is correct.”

On Thursday, Gilchrist backtracked.

“We believe tax reform is good for our U.S. economy and are pleased to raise our minimum hourly pay to $15 as a result,” he said after The Times article appeared online.

Wells Fargo says raises were not linked to tax bill passage — then backtracks - LA Times
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Old 12-21-2017, 10:14 PM   #85
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M&A is horribly inefficient for that purpose.... very few deals are beneficial in retrospect and many are downright disasterous.... having worked in M&A for the last 10 years of my career I saw many instances where buyers made very poor purchase decisions because the CEO or another high level decisionmaker was in love with the deal... resulting in high goodwill which eventually became impaired and was written off.
Many M&A transactions seem to make more real money go poof faster than those horrible share buy backs at peak company share prices!
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Old 12-21-2017, 10:15 PM   #86
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Wells Fargo announced the pay increase last September, they just re-announced it today. Currying favor.
Thanks for pointing that out. It all just sounded a little too convenient.
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Old 12-22-2017, 06:22 AM   #87
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Many M&A transactions seem to make more real money go poof faster than those horrible share buy backs at peak company share prices!
How do you know when the peak prices occur?

Actually, buying stocks at new highs is a good thing. If a stock is going to continue to raise, you will likely always be buying at what is then a peak.

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Thanks for pointing that out. It all just sounded a little too convenient.
Wells Fargo was just one of many (Fifth Third, Boeing, ATT, Comcast, etc.) that announced wages being increased and more investment. It makes sense. Paying wages is an above the line expense and means less tax. Dividends are below the line. Tax savings means more profits.

I know tax savings for me means I can spend more. It is not any different for a company, they are just exponentially larger. I am going to save ~$3K+ a year due to these tax cuts.

Who knows why the real reasons for any extra spending is, but it should be good for the economy, the stock market and creating additional jobs.
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Old 12-22-2017, 08:47 AM   #88
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Honestly, property/income taxes have never been good news for CA, and some other states with high local taxes. It's good news for the other states which will no longer have to endure subsidizing the spending in those states.
It's the other way around. High-tax, "Blue" states such as CA, NY, and NJ subsidize the low-tax "Red" states.

AP FACT CHECK: Blue high-tax states fund red low-tax states - ABC News
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Old 12-22-2017, 08:53 AM   #89
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It's the other way around. High-tax, "Blue" states such as CA, NY, and NJ subsidize the low-tax "Red" states.

AP FACT CHECK: Blue high-tax states fund red low-tax states - ABC News
States don't pay taxes, taxpayers do.
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Old 12-22-2017, 08:59 AM   #90
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What scrabbler1 is referring to is ratio of federal income taxes paid out to federal spending in that state.... most high-tax state taxpayers pay out more than they receive and most low-tax state taxpayers receive more than they pay out.... so in effect taxpayers in high-tax states subsidize taxpayers in low-tax states.
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Old 12-22-2017, 09:14 AM   #91
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