Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[Rain Man]

Originally Posted by Nightfyre

I think you need to sack it up sir. I was out yesterday in 10 below, 25 mph winds, and hauling my fishing gear over a mile each way in a sled.

And you didn't know that the fish had the day off. That's rough.

[lewdog]

Originally Posted by Nightfyre

I think you need to sack it up sir. I was out yesterday in 10 below, 25 mph winds, and hauling my fishing gear over a mile each way in a sled.

Canyon Ferry?

[htismaqe]

Originally Posted by DaFace

The problem is that taxes are stupidly confusing, so most people don't really understand them well enough to pay close attention to what their employers are doing with their withholdings. Most "normal" people did, indeed, pay fewer taxes this past year, but most also didn't withhold enough, so overall people are getting less back in refunds than they're used to. That's causing a lot of angst, as a lot of people use them as a sort of forced savings account that then allows them to catch up on some things once a year.

In other words, yes, people paid fewer taxes this year. But most just absorbed the extra $50 per paycheck without really noticing it but are now short the extra $500 they were typically used to at the end. To 90% of people, that feels like the tax bill screwed them over even when it really didn't.

Here's a good article that talks through some of the numbers:
https://www.cnbc.com/2019/02/15/tax-...ont-panic.html

Do they really use it as a sort of savings account? Most people I see around here are using tax refunds like a 2nd Black Friday. In fact, Walmart will have a massive electronics sale any time now.

[DaFace]

Originally Posted by htismaqe

Do they really use it as a sort of savings account? Most people I see around here are using tax refunds like a 2nd Black Friday. In fact, Walmart will have a massive electronics sale any time now.

Well, what I mean is that they use it as a savings account throughout the year so that they can spend it all on something in the spring (as opposed to reducing withholdings to aim for $0 owed). I'd bet it's a minority that actually puts the refund itself into a savings account.

[htismaqe]

Originally Posted by DaFace

Well, what I mean is that they use it as a savings account throughout the year so that they can spend it all on something in the spring (as opposed to reducing withholdings to aim for $0 owed). I'd bet it's a minority that actually puts the refund itself into a savings account.

Aiming for $0 has always been the goal. Unfortunately, as you said, most people don't understand that.

[DaFace]

Originally Posted by htismaqe

Aiming for $0 has always been the goal. Unfortunately, as you said, most people don't understand that.

I buy that to an extent, but I actually do like getting a little back each year (typically around $1,500). Though I'm fine with my savings as well, I like the little boost. My wife and I usually use it for a little vacation or upgrading something around the house.

Is it technically the best financial decision? No. But the best you're going to do with that $1,500 in a savings account is getting about $30 in interest (which is taxable income, so really more like $20-$25) for it over the course of a year. That's less than I'll pay for a decent dinner, so I'm OK with missing out on that to be able to blow some money that was otherwise not in the budget. It's fun.

[htismaqe]

Originally Posted by DaFace

I buy that to an extent, but I actually do like getting a little back each year (typically around $1,500). Though I'm fine with my savings as well, I like the little boost. My wife and I usually use it for a little vacation or upgrading something around the house.

Is it technically the best financial decision? No. But the best you're going to do with that $1,500 in a savings account is getting about $30 in interest (which is taxable income, so really more like $20-$25) for it over the course of a year. That's less than I'll pay for a decent dinner, so I'm OK with missing out on that for the fun of blowing some money that was otherwise not in the budget. It's fun.

I get that. You're also thinking about it rationally. Many of the people complaining around here are angry because now they can't get a 65" big screen that they couldn't afford in the first place.

[Hog's Gone Fishin]

I've got asshole renters that need that lump sum to catch up their rent.

[htismaqe]

Originally Posted by Hog's Gone Fishin

I've got asshole renters that need that lump sum to catch up their rent.

We're speaking the same language.

[Buehler445]

Originally Posted by displacedinMN

I just hate that I work hard, supposed to get more money, and it goes back into taxes for the city, school (see below) and everyone wants more. Every bill went up Jan 1. DTV, water, paper etc.

The city decided to build a new city hall and pool. I am close to paying as much in taxes as my house payment. Which I get no credit for. F Hennepin County.

We prepaid a lot. We do not have anything taken out for farm cash rent, so we have to prepay it. I get no credit for tuition for kid because I MAKE TOO MUCH MONEY.

Let me tell you what it is like to be a teacher in the district I teach in.

I voted for the referendum. It usually helps with a pay raise. I will pay more in property taxes and income tax so that I can get a pay raise so I pay more taxes. The ultimate vicious circle.

Our school district is still 5 Mill in the hole because the Fed government does not fully fund Special Ed. Meaning I may lose my co-worker who I really like. And may have to train someone new. I hate that.

ok. /rant for now.

Hey man, if you don't like paying tax on the farm rental, let me shoot you my address and SSN and they can send the checks to me. I'll happily pay tax on a new income stream. Particularly if it is passive.

Really though, I feel you on FUUUUUUCK taxes. I don't mind paying taxes for basic shit - infrastructure and security and the like that I can't provide myself, but these taxes are ****ing hogshit.

If you want to get REALLY wound up, 44.4% of Americans will pay $0 of Federal Income Tax That is so mind bogglingly ****ed the **** up, I can't even come up with words.

On the practical end, if your farm rent is sharecrop, the guidance from the IRS indicates that it would be eligible for the QBI deduction, which would help.

Other than that, just know you're not alone in the boat you're in. Property taxes in my county (at least on Ag land) have almost doubled since 2012, I feel your pain. I set up an S-Corp on the farm because the most expensive thing I could do was retain earnings. Couple that with cornholes I know that get EITC, and it is damned maddening.

I got you, man...*bro-fist*

[displacedinMN]

When I tell my democrat teachers that 44% don't pay taxes, they get mad. But it is true.

And paying for decorative water fountains pisses me off.
We will see how this year goes. we put a lot away for taxes.
Farm rent helps pay for college after taxes. 2 years, no loans...good thing.

[Buehler445]

Originally Posted by displacedinMN

When I tell my democrat teachers that 44% don't pay taxes, they get mad. But it is true.

And paying for decorative water fountains pisses me off.
We will see how this year goes. we put a lot away for taxes.
Farm rent helps pay for college after taxes. 2 years, no loans...good thing.

Right on. Paid for land makes good money. Probably better money where you’re at.

There is also an option to withhold extra from your check in lieu of doing it yourself, but if you’re handling it, I wouldn’t worry.

[lewdog]

Originally Posted by ChiliConCarnage

This is a swing or short term trade? Why, Pfizer? Is it a play on PBM regulation?

Swing trade. Dividends pay on the 1st and I need out by then since I’ll miss cutoff to receive any of that. Lots of recent support at $41.70. Futures looked green. Open $42.5 and had limit order set at $42.30. Order placed at $42.23 today shortly after open.

[ChiliConCarnage]

Kraft Heinz getting killed after hours. A stock down over the last 5yrs dropping 20% so far tonight.

Dividend cut, write downs of core Business values, also the SEC subpoenaed their finances due to accounting concerns. So uhh good news all around

[Hammock Parties]

if IQ hits 30 im gonna buy a hooker