Hive Love Loaded with Some Tax Law.

in #hive5 years ago

Researching through the latest struggles this platform has undergone has brought back my love for this place once again. Often I find myself wondering why I even waste time on Facebook... so much that I gave up on Facebook for everything pretty much but memes and photos of family. Yet again, through disappointment after disappointment and only having the ability to roll with the punches on their platform I have to admit... why the transfer to this site has been so difficult for me is hard to understand.

I used to be able to blame it on the lack of content or the over powering amount of foreign content that I could not translate. Most articles in English that I came upon were bait clicks that talked mainly about the hopeful future of steemit. Other entries where short and rather chaotic. The amount of variety on this platform was rather lacking.

I have to admit though... this site has came so far. This community of developers on this platform is full of crazy talent. I feel the quicker that a developer creates a one stop sight that can handle all transactions of the platform in one place, the game of how all social media sites will operate will only follow suit to the Hive. Decentralized from every aspect is crazy to think about with how controlled we are when it comes to creativity in a lot of instances. To be against the mainstream ideology in any way leads you to a band status or blacklisted from pretty much any social media institution but this one.

I was reading a blog the other day which I am looking for to credit the author because of how awesome the read was. He proposed a new perspective that I had not heard on the possibilities in which this platform could ignite different trends into common practice.

For instance he talked about decentralized gaming where I understood that the developer(s) would create a game via Platform investors where the game is released for free and crowd funded by the community utilizing the Hive Currency. The game would be accessible only via means of a platform associated to the Hive. I am sure the complexity is insane but a collective of people after a common goal sounds like a revolution to me... and any revolution that could better the future generation... I am always in.

Back in 2018 I found Steemit through a man named Adam Kokesh. It has been a while since I have followed him, but libertarian roots are where I dwell. I'm more of a mutt for where I hang my hat when it comes to politics and libertarian is as close as I can get to hitting most of my thoughts in one word if that is even possible anymore, However, the revolution brewing through this site is quite erotic to me. It gets me going to see that others share my interest and finding a home here should not be hard.

I have several friends I have complained to about our Governor in Michigan and it's scary to hear the way they tend to talk. Often they agree that the government has overreached, yet they quickly rebuttal with not worrying until soldiers are marching into peoples homes. I don't know if any of you feel the way I do, but if that point comes... were already way to late in protecting ourselves and preserving our nation.

I have a weird feeling about this community as if it were in the works of becoming as historical as bitcoin itself. Social media is not going anywhere. The necessity of unfiltered information is in great demand and yet if you try to find an actual bill of any laws passed you will find it is quite a daunting task to dig through 3 million of the same article, written with 3 million different titles, by the same major news networks containing the exact same opinionated vague material. Material in my opinion which is all garbage. I am the kind of person who just wants the facts. then I'll make up my own opinion.

There is a party loyalty that can be seen in all of the network news outlets. I saw it just as bad with fox, during the Iraq war under bush, that I did when I saw MSNBC cover Afghanistan under Obama. Consistency is not a virtue shared by the networks, nor does the character trait of integrity. Its easy enough to see if you spend a weekend going through the list of news trends to see the response in accordance to who the person with the power was affiliated with and what news station made the report. It's so bad particularly on one side, currently, that their claims can be easily found false on the title of some bills. (That is of course an exaggeration, but humor is the only thing that keeps me sane during mass insanity.)

"Often ideas are promoted by one party that the other party had already promoted, yet now disagrees with because its saw as a good idea by the opposing side."--Pheww... This can only be so confusing for so long before it becomes clear to the majority. None of this makes since. I really find it odd to think that everyone is so black and white when it comes to every issue and I dare not assume a persons ideology based on their party affiliation. I still see the individual as just that, an individual with individual thoughts. I wanna know your thoughts... not your t.v. personalities thoughts... but how can I know those thoughts on so many when so many in the real world refuse to educate themselves. Rather they feel they are educating themselves by receiving education through another. It's education of bias. Especially if the bill is available to read for yourself yet you choose the less liable resource to gain your knowledge.

Let me provide an example for equal hate time here. Donald Trump was claimed to have the best tax breaks in history... (God I loath devote trump supporters as much as I do socialist tweenies.)

"A little background about myself... this was extremely fun for me seeing that I am a Licensed Enrolled Agent. I passed My "SEE" back in 2013 and practiced tax law for about 4 years before moving on to better horizons. What most don't know is that what you pay in taxes is not what your neighbor pays. In fact most Americans don't pay income tax once you take into account the Earned Income Credit that gets applied. Plus all the other low income credits and deductions. Until I surpassed maybe 45k a year with my situation, I got a refund every year and that's including being exempt from federal With holding on my W-4's. (That, btw, is a great strategy to open cash flow that we can talk about in a future article if anyone wants. Its not a strategy for all and not recommended for most, but it is possible and it has helped me in the past catching up with debt)

Anyhow back to Donald Trump and this retarded Tax bill. Lets take me and my family. I have a lovely wife Megan and 3 lovely boys. Logan is a Brute at 7. Lucas Wayne, hes the mini me walking around the house with his play tools fixing the everything at eye level. Levi, well that's my future MMA Champ. That 5 year old is build like an OX. Lucas Wayne and Levi are paternal twins. (sorry twin moms and dad's I feel the pain.)

If you don't understand what I'm about to say I don't blame you... it was written confusing on purpose...

your AGI or Adjusted gross income is your actual taxable income before taking into account already paid taxes and other refundable and non refundable credits. Your goal is to get to $0.00 or positive for a refund.

If I made 100k for the year, prior to trump I would take right off the top, and the main deductions that get most people to their create the AGI are two things...

  1. The personal exemptions for you(and spouse) plus all dependents filed on your 1040. I believe under the age of 17 if my memory suits me correctly. In the tax year of 2017 it was 4050 per person on the 1040.

    Personal Exemption Deduction = Me + Megan + Logan + Lucas + Levi = 4050 * 5 = 20250 deduction.

  2. Standard Deduction Vs. Itemized... this deduction has a base amount that is dependent on your life style and or your filing status. If you itemize you have whats called a schedule A form that is attached to your 1040 either electronically of physically depending on your filing methods.

Some people use the standard deduction as a was to say that since trump doubled the standard deduction, that makes up for the personal exemption no longer existing, but a personal exemption was a huge deal for most people in my situation who do not itemize and have a family of 5, which I think is about average. Well lets' do the math to see... First here are the numbers of the standard deduction prior to and after the Trump Tax Bill. If your itemized amounts exceed these standard limits for the standard deduction your deduction would be greater... This is only an example again. The years are listed under the filing status. I did not incorporate any incentives for age, disabilities, or widows.

single or married filing separate

2017 6,350

2018 12,000

Head of House hold

2017 9,350

2018 18,000

Married Filing Joint

2017 12,700

2018 24,000

Now back to where we did so good we made 100k for the year... or so we thought all the way up until February when we got that email from Turbo Tax telling us we can file early.

2017
Total Income = 100,000
My Standard Deduction = -12,700
Personal Exemption = -20,250
current AGI Minus other Deductions = 67,050

2018
Total Income = 100,000
My Standard Deduction = -24,000
Personal Exemption = 0
current AGI Minus other Deductions = 76,000

Every Tax return is unique to the individual filing. Lawyers know this... Your politicians are Lawyers. Trump knows law just as much as any other lawyer in that building and he knows the majority of people are baffled when it comes to tax law.

In my instance had this been my income without figuring any other deductions from here I'm already 9k higher on my AGI before I get to the smaller write offs... cell phones and such... federal per diem for truck drivers is gone and so much more has been renamed or shuffeled that we could go on for days. Your AGI also determines the amount of tax you pay by fitting you into different tax brackets that are dependent upon the number you got for your AGI.

There is no tax code that can be written to help us... the country continues to pile on debt and we will always be the backs that have to carry the weight. A lot of you thought you were making out. Turns out taxes like always just get moved around. Or called by another name like fine or something. And the house always wins.

ANYWAYS...

I was talking about blind aligence and its ability to be found on all sides and it seems to be covered in ignorance mostly.

It has always been disgusting to me to see someone guilted into an ideology based on identity politics of any kind. In fact I remember when I was a kid we had a teacher named Mr. Magee. A very educated black substitute teacher probably in his 40's.

One of the other kids in class had asked him what group was he when he was a kid. in Highschool we had Jocks, band geeks, goths, skaters, you know the 2000 basics i have no idea what it is now. Any how, another student asked him and he said he was a GDI all his life. Every one in the class including me was clueless as could be.

He got loud... "You don't know what a GDI is?"

"A GOD DAMN INDIVIDUAL!"

I never forgot those words. He was so proper, so educated, so soft spoken, but so excited about being his own man. I can see society breeding individuality out of our children. At least this last year before schools closed I could see them doing this to my 1st grader.

You know what I see on this site? Fearless individuals capable of organizing under pressure because the majority have one common goal. The success and continued decentralization of the platform. I am excited and so happy to see how many people have welcomed me into this community and I will continue the hospitality onto the future generations of "Hivinians."

Thanks again everyone for having me. Feel free to share any cool new things going on I'm gonna read up about discord tonight. I see a lot of invitations to that and I am currently unfamiliar.

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