Georgia mom praised for having 5-year-old daughter 'pay rent'

[highland145]

Too bad for you I haven't paid state income tax in 3 years something about an exemption for small businesses in ohio. Not that it was ever that much anyway.

I'm not really offended by my state tax. Stuff has to be paid for. If I were in NY or Cali....lol, they are getting raped.

Are you a s-corp? I'm going to be loving that 20% off the top for pass through income. I could/should have about a $4K savings on the fed. woot.

 

[skull]

I was just messing with ya, I think even when I was paying state taxes, the city income tax was worse. They like to take 2% right off taxable income. The worst part is working in a bunch of different cities and random townships that all want their share.

No sole proprietor, with my somewhat low income I'll probably lose my mortgage interest deduction but not sure if it'll be a net less. Makes the mortgage slightly less desirable.

 

[highland145]

I was just messing with ya, I think even when I was paying state taxes, the city income tax was worse. They like to take 2% right off taxable income. The worst part is working in a bunch of different cities and random townships that all want their share.

No sole proprietor, with my somewhat low income I'll probably lose my mortgage interest deduction but not sure if it'll be a net less. Makes the mortgage slightly less desirable.

Ours is business licenses for each and every city that you work in and it's based on your gross income, not what you make in that particular city.

The new standard deduction is pretty nice. $24K for married, $12K single. I doubt the average Joe will hit the $24K mark.

 

[skull]

Ours is business licenses for each and every city that you work in and it's based on your gross income, not what you make in that particular city.

The new standard deduction is pretty nice. $24K for married, $12K single. I doubt the average Joe will hit the $24K mark.

I have to have the different registrations too. Do they take it off gross because your an s-corp?

I'm not even sure how I can itemize now. I'm assuming its something to do with the business because I don't have any personal deductions except for the mortgage and the interest amounts to like $1000/year. I should do my taxes on paper this year just for the learning experience. I've been using turbo tax since I got off 1040 EZ. Already done with federal for 2017 except for exchanging some of the income with whatever 1099s I get this year.

 

[Chaotic42]

HAHAHAHAHHAHAHAH *breathes* HAHAHAHHAHAHA

For real. My rent is less than 12% of my income.

 

[highland145]

I have to have the different registrations too. Do they take it off gross because your an s-corp?

Nope. They do the same for sole proprietors.