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Huge portion of people have no idea how tax write-offs work
02-16-2026, 02:21 PM
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#1
02-16-2026, 02:32 PM
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#2
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Very few people understand how taxes work. I am over halfway through a masters degree in financial planning and have taken multiple tax classes and there is still a huge amount I don't know.
I suspect there is nobody on the planet who fully understands US tax system, especially if you include all the court rulings and administrative guidance.
I suspect there is nobody on the planet who fully understands US tax system, especially if you include all the court rulings and administrative guidance.
02-16-2026, 02:34 PM
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#3
02-16-2026, 02:47 PM
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#4
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Originally Posted By GooBaaa⏩
"Girl Math"
Yah people think you can just buy a truck and it’s free lol
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02-16-2026, 03:06 PM
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Originally Posted By MiscDetective⏩
They keep it overly complicated to make sure there are endless loopholes for the elites who can pay tax laywers to figure it all out
Very few people understand how taxes work. I am over halfway through a masters degree in financial planning and have taken multiple tax classes and there is still a huge amount I don't know.
I suspect there is nobody on the planet who fully understands US tax system, especially if you include all the court rulings and administrative guidance.
I suspect there is nobody on the planet who fully understands US tax system, especially if you include all the court rulings and administrative guidance.
Its in sane that in 2026 they still require basic wage slave W2 workers to file taxes when the government already knows exactly what they owe, pretty sure its a lobbyist industry from HR Block and Quicken keeping the shit more complicated for everyone
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02-16-2026, 03:08 PM
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Originally Posted By Zere0wn⏩
this why i lol at people that say donate to charity for a tax write of. or i could just keep 100% of that money in the first place.gay rep trade crew:
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02-16-2026, 03:22 PM
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#7
Originally Posted By MiscDetective⏩
but almost none of it applies to the vast majority of people
Very few people understand how taxes work. I am over halfway through a masters degree in financial planning and have taken multiple tax classes and there is still a huge amount I don't know.
I suspect there is nobody on the planet who fully understands US tax system, especially if you include all the court rulings and administrative guidance.
I suspect there is nobody on the planet who fully understands US tax system, especially if you include all the court rulings and administrative guidance.
tax write-offs is in theory very basic
My ALT is elevated. 75.
02-16-2026, 03:24 PM
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Gee wiz why do so many small businesses fail?
I have a friend who has a degree in accounting, has been in taxes for a long time, is 2/3 test in to get her CPA, she will tell you she still doesn't understand taxes sometimes but she just knows how to find out but she says most people are dead wrong about taxes because it's misleading and what might be legit in one kind of business, might not be in another kind of business. However, when people make stupid financial decisions and say "it doesn't matter because it's a write off" they are lying to compensate or they are eventually going to be one of those guys where "I lost my business because the evil IRS came and chained my doors".
I have a friend who has a degree in accounting, has been in taxes for a long time, is 2/3 test in to get her CPA, she will tell you she still doesn't understand taxes sometimes but she just knows how to find out but she says most people are dead wrong about taxes because it's misleading and what might be legit in one kind of business, might not be in another kind of business. However, when people make stupid financial decisions and say "it doesn't matter because it's a write off" they are lying to compensate or they are eventually going to be one of those guys where "I lost my business because the evil IRS came and chained my doors".
02-16-2026, 03:30 PM
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#9
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always annoys me when people think corporations pay very little in taxes. its usually because they invested their earnings into infrastructure and buildings which allows them to write it off and deduct what theyd otherwise owe, and it was set up that way so that these companies are incentivized to reinvest in the community (buildings = good for local economy) type idea.
right?
right?
Dodge SRT Fan
02-16-2026, 03:36 PM
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#10
Originally Posted By Jaydubs⏩
I don't think they are even lying. they are just doing it and not looking at the numbers. they just heard you're supposed to buy stuff for the write off so they just do it.
Gee wiz why do so many small businesses fail?
I have a friend who has a degree in accounting, has been in taxes for a long time, is 2/3 test in to get her CPA, she will tell you she still doesn't understand taxes sometimes but she just knows how to find out but she says most people are dead wrong about taxes because it's misleading and what might be legit in one kind of business, might not be in another kind of business. However, when people make stupid financial decisions and say "it doesn't matter because it's a write off" they are lying to compensate or they are eventually going to be one of those guys where "I lost my business because the evil IRS came and chained my doors".
I have a friend who has a degree in accounting, has been in taxes for a long time, is 2/3 test in to get her CPA, she will tell you she still doesn't understand taxes sometimes but she just knows how to find out but she says most people are dead wrong about taxes because it's misleading and what might be legit in one kind of business, might not be in another kind of business. However, when people make stupid financial decisions and say "it doesn't matter because it's a write off" they are lying to compensate or they are eventually going to be one of those guys where "I lost my business because the evil IRS came and chained my doors".
My ALT is elevated. 75.
02-16-2026, 03:36 PM
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#11
Originally Posted By ChadLifter⏩
that's whats funny, every tax law I've come across had seemingly good intentioned logic.
always annoys me when people think corporations pay very little in taxes. its usually because they invested their earnings into infrastructure and buildings which allows them to write it off and deduct what theyd otherwise owe, and it was set up that way so that these companies are incentivized to reinvest in the community (buildings = good for local economy) type idea.
right?
right?
but the end result of all it together is an insane mess
My ALT is elevated. 75.
02-16-2026, 03:45 PM
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#12
02-16-2026, 03:58 PM
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#13
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Originally Posted By MiscDetective⏩
This statement is true, however most people aren’t calculating transfer pricing on intellectual property being leased from an offshore entity.
Very few people understand how taxes work. I am over halfway through a masters degree in financial planning and have taken multiple tax classes and there is still a huge amount I don't know.
I suspect there is nobody on the planet who fully understands US tax system, especially if you include all the court rulings and administrative guidance.
I suspect there is nobody on the planet who fully understands US tax system, especially if you include all the court rulings and administrative guidance.
Borrowing money to fund a tax-effective investment can be advantageous but this woman clearly didn’t understand the basic concept behind a tax deduction, which everybody should understand.
Also a “write off” is not the same as a general deduction.
02-16-2026, 04:20 PM
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#14
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Just LOL if you're not writing off charitable donations to your tax haven offshore shell philantrophy with you as a the sole beneficiary of said philantropy.
The beatings will continue until morale improves.
02-16-2026, 07:02 PM
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Originally Posted By Zere0wn⏩
right so if a company owed very little money in a year, it means they reinvested in the community in other ways improving the local economy. so people shouldnt be mad and attack that the way they do.
that's whats funny, every tax law I've come across had seemingly good intentioned logic.
but the end result of all it together is an insane mess
but the end result of all it together is an insane mess
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02-16-2026, 07:09 PM
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02-16-2026, 07:20 PM
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I think I do but it could 100% be one of those things where I extrapolated the information and am wrong but close enough that I’ll never know the difference
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02-16-2026, 08:09 PM
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#18
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Is there any tax benefits for wagecucks like me or is ot just for people who are self employed or already wealthy?
02-16-2026, 09:37 PM
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Originally Posted By Zere0wn⏩
Not really. There are like 3 different systems just for depreciation and they just changed them a bunch with the new OBBBA. Not to mention the exceptions, depreciation recapture (and the tax weirdness thereon, etc)
but almost none of it applies to the vast majority of people
tax write-offs is in theory very basic
tax write-offs is in theory very basic
Originally Posted By Zere0wn⏩
Also this
that's whats funny, every tax law I've come across had seemingly good intentioned logic.
but the end result of all it together is an insane mess
but the end result of all it together is an insane mess
Originally Posted By ChadLifter⏩
Or they offshored all their IP to Ireland and then the Irish company "sells" them the rights to use their own IP and they pay basically nothing in taxes despite hundreds of billions in revenue. lol
right so if a company owed very little money in a year, it means they
reinvested in the community in other ways improving the local economy.
so people shouldnt be mad and attack that the way they do.
reinvested in the community in other ways improving the local economy.
so people shouldnt be mad and attack that the way they do.
Originally Posted By Basedbabyy⏩
Yes, if you make under 39,500 per year before tips and overtime (but more than $2,000), you should be saving $2,000
Is there any tax benefits for wagecucks like me or is ot just for people
who are self employed or already wealthy?
who are self employed or already wealthy?
per year in a Roth IRA and you'll get $1,000 from the government. (Saver's Credit)
Make up to 25,000 in tips and your tip income will be excluded (i.e. a massive tax break on all your tip income) (No tax on tips)
Work a bunch of overtime and up to $12,500 per year of that will not have taxes (No tax on overtime)
Pop out a couple kids and you'll get paid $2,200 per kid until the kids are 16 (Child Tax credit)
The first $2,000 you spend toward a 4-year degree each year gets paid back by the government (American Opportunity Tax Credit)
If you earn under $70,000 a year you are probably already not paying much in taxes (except FICA, which is more like an investment than than a tax for low income folks since they are net beneficiaries of these systems)
02-16-2026, 10:03 PM
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#20
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Originally Posted By MiscDetective⏩
Looking at my last pay stub from last year It says I made $37500 from regular pay, and $31500 from overtime and about $7k for my holiday, pto, and sick. Do I still qualify for the savers credit with the pto and sick pay? And if so do I need to apply for it or something?
Not really. There are like 3 different systems just for depreciation and they just changed them a bunch with the new OBBBA. Not to mention the exceptions, depreciation recapture (and the tax weirdness thereon, etc)
Also this
Or they offshored all their IP to Ireland and then the Irish company "sells" them the rights to use their own IP and they pay basically nothing in taxes despite hundreds of billions in revenue. lol
Yes, if you make under 39,500 per year before tips and overtime (but more than $2,000), you should be saving $2,000
per year in a Roth IRA and you'll get $1,000 from the government. (Saver's Credit)
Make up to 25,000 in tips and your tip income will be excluded (i.e. a massive tax break on all your tip income) (No tax on tips)
Work a bunch of overtime and up to $12,500 per year of that will not have taxes (No tax on overtime)
Pop out a couple kids and you'll get paid $2,200 per kid until the kids are 16 (Child Tax credit)
If you earn under $70,000 a year you are probably already not paying much in taxes (except FICA, which is more like an investment than than a tax for low income folks since they are net beneficiaries of these systems)
Also this
Or they offshored all their IP to Ireland and then the Irish company "sells" them the rights to use their own IP and they pay basically nothing in taxes despite hundreds of billions in revenue. lol
Yes, if you make under 39,500 per year before tips and overtime (but more than $2,000), you should be saving $2,000
per year in a Roth IRA and you'll get $1,000 from the government. (Saver's Credit)
Make up to 25,000 in tips and your tip income will be excluded (i.e. a massive tax break on all your tip income) (No tax on tips)
Work a bunch of overtime and up to $12,500 per year of that will not have taxes (No tax on overtime)
Pop out a couple kids and you'll get paid $2,200 per kid until the kids are 16 (Child Tax credit)
If you earn under $70,000 a year you are probably already not paying much in taxes (except FICA, which is more like an investment than than a tax for low income folks since they are net beneficiaries of these systems)
02-16-2026, 10:11 PM
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#21
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Originally Posted By Basedbabyy⏩
For the pay stub info that's a complex question, you're better off showing your W2 to whoever does your taxes and asking them. There will be a tab on your form 1040 (main tax form), line 11a called "adjusted gross income", that's what you need to be below $39,500). From what you said you should be at least partially eligible for the credit but maybe you won't get the full amount.
Looking at my last pay stub from last year It says I made $37500 from regular pay, and $31500 from overtime and about $6k for my holiday, pto, and sick. Do I still qualify for the savers credit with the pto and sick pay? And if so do I need to apply for it or something?
You need to put $2,000 in your Roth IRA and tell the person doing your taxes that you did that. It will go on your tax forms and you'll get the credit.
The deadline to contribute to a Roth IRA for 2025 is April 15, 2026. So you can still do the contribution if you haven't already.
02-16-2026, 10:13 PM
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#22
Originally Posted By MiscDetective⏩
the concept of a write off is very simple, not really debatable
Not really. There are like 3 different systems just for depreciation and they just changed them a bunch with the new OBBBA. Not to mention the exceptions, depreciation recapture (and the tax weirdness thereon, etc)
My ALT is elevated. 75.
02-16-2026, 10:14 PM
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#23
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Originally Posted By MiscDetective⏩
I already put some money into a Roth IRA last year does overtime contribute to agi because my overtime pay contributes to almost half of my salary.
For the pay stub info that's a complex question, you're better off showing your W2 to whoever does your taxes and asking them. There will be a tab on your form 1040 (main tax form), line 11a called "adjusted gross income", that's what you need to be below $39,500). From what you said you should be at least partially eligible for the credit but maybe you won't get the full amount.
You need to put $2,000 in your Roth IRA and tell the person doing your taxes that you did that. It will go on your tax forms and you'll get the credit.
The deadline to contribute to a Roth IRA for 2025 is April 15, 2026. So you can still do the contribution if you haven't already.
You need to put $2,000 in your Roth IRA and tell the person doing your taxes that you did that. It will go on your tax forms and you'll get the credit.
The deadline to contribute to a Roth IRA for 2025 is April 15, 2026. So you can still do the contribution if you haven't already.
02-16-2026, 10:15 PM
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#24
Originally Posted By ChadLifter⏩
well they don't understand it,
right so if a company owed very little money in a year, it means they reinvested in the community in other ways improving the local economy. so people shouldnt be mad and attack that the way they do.
partly because its such a mess
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02-16-2026, 10:19 PM
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#25
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Originally Posted By Basedbabyy⏩
Yes, I think overtime does contribute to AGI. For sure the part that isn't the "and a half" of "time-and-a-half" does contribute to AGI.
I already put some money into a Roth IRA last year does overtime contribute to agi because my overtime pay contributes to almost half of my salary.
02-16-2026, 10:22 PM
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#26
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Originally Posted By MiscDetective⏩
Shame that would def put me over the limit I’m sick of this circus I had to pay over 18k in taxes last year.
Yes, I think overtime does contribute to AGI. For sure the part that isn't the "and a half" of "time-and-a-half" does contribute to AGI.
02-17-2026, 12:42 AM
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#27
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Originally Posted By Basedbabyy⏩
Are you doing it all by hand?
Looking at my last pay stub from last year It says I made $37500 from regular pay, and $31500 from overtime and about $7k for my holiday, pto, and sick. Do I still qualify for the savers credit with the pto and sick pay? And if so do I need to apply for it or something?
Turbotax will tell you if you qualify for all that shit
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02-17-2026, 01:53 AM
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#28
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Originally Posted By Papi_Chulo⏩
Nah I have a tax guy
Are you doing it all by hand?
Turbotax will tell you if you qualify for all that shit
Turbotax will tell you if you qualify for all that shit
02-17-2026, 08:29 AM
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#29
Originally Posted By Papi_Chulo⏩
80%+ of people should be using turbotax, especially now that the standard deduction doubled 5 years ago. but everyone thinks they got a guy
Are you doing it all by hand?
Turbotax will tell you if you qualify for all that shit
Turbotax will tell you if you qualify for all that shit
I have two friends who don't use it (that I know of). one of them wasn't taking a massive tax benefit because the accountant sucked, one of them was taking an illegal deduction (or lying to my friend to make them think they were).
most accountants are bad, TurboTax is cheap and will do a better job for a given individual. if you're a business owner you may need more guidance
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02-17-2026, 10:15 AM
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#30
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Originally Posted By Zere0wn⏩
Yeah I had coworkers kept talking about how much their mortgage was saving them in taxes from deducting the interest but I ran the numbers vs standard deduction and it didn't add up unless you just bought a very expensive house and paying nearly pure interest
80%+ of people should be using turbotax, especially now that the standard deduction doubled 5 years ago. but everyone thinks they got a guy
I have two friends who don't use it (that I know of). one of them wasn't taking a massive tax benefit because the accountant sucked, one of them was taking an illegal deduction (or lying to my friend to make them think they were).
most accountants are bad, TurboTax is cheap and will do a better job for a given individual. if you're a business owner you may need more guidance
I have two friends who don't use it (that I know of). one of them wasn't taking a massive tax benefit because the accountant sucked, one of them was taking an illegal deduction (or lying to my friend to make them think they were).
most accountants are bad, TurboTax is cheap and will do a better job for a given individual. if you're a business owner you may need more guidance
I also interviewed to work at a retail h and r block like 20 years ago and they take any random retard who just plugs all your numbers into their own software so you might as well just use TurboTax.
I remember going to the library and getting the paper 1040ez forms and doing it all on paper for my first retail jobs. I like using TurboTax now since it keeps updated with all the law changes every year. This year has the reduced taxes on over time. Most people probably don't realize it's only the half portion that's not taxed not the time and a half. The Jews always get you
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