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12-21-2017, 04:49 PM
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#81
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Thinks s/he gets paid by the post
Join Date: Jul 2002
Posts: 1,517
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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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12-21-2017, 06:26 PM
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#82
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 36,251
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 Quote:
Originally Posted by Lsbcal
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.
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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)
__________________
Retired since summer 1999.
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12-21-2017, 07:51 PM
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#83
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Thinks s/he gets paid by the post
Join Date: Nov 2015
Posts: 2,619
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Quote:
Originally Posted by dvalley
So no more property tax or local income tax deductions, that's not good news for tax payers in states like CA.
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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.
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12-21-2017, 08:04 PM
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#84
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Thinks s/he gets paid by the post
Join Date: Oct 2012
Location: Reno
Posts: 1,254
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Well, that certainly clarifies everything. Or maybe nothing. Or. . .
Quote:
Originally Posted by Senator
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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12-21-2017, 09:14 PM
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#85
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 36,251
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Quote:
Originally Posted by pb4uski
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.
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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!
__________________
Retired since summer 1999.
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12-21-2017, 09:15 PM
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#86
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 36,251
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Quote:
Originally Posted by AllDone
Wells Fargo announced the pay increase last September, they just re-announced it today. Currying favor.
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Thanks for pointing that out. It all just sounded a little too convenient.
__________________
Retired since summer 1999.
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12-22-2017, 05:22 AM
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#87
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
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Quote:
Originally Posted by audreyh1
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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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.
Quote:
Originally Posted by audreyh1
Thanks for pointing that out. It all just sounded a little too convenient.
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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.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
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12-22-2017, 07:47 AM
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#88
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2009
Posts: 6,583
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Quote:
Originally Posted by bobandsherry
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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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
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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12-22-2017, 07:53 AM
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#89
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Thinks s/he gets paid by the post
Join Date: Dec 2016
Location: DC area
Posts: 2,330
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Quote:
Originally Posted by scrabbler1
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States don't pay taxes, taxpayers do.
__________________
FI and Semi-ER March 24, 2017
Consulting to stay engaged
"All models are wrong, some are useful." - George Box
“There is always a well-known solution to every human problem: neat, plausible, and wrong.” - H.L. Mencken
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12-22-2017, 07:59 AM
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#90
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 34,803
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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.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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12-22-2017, 08:14 AM
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#91
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,207
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__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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