Standard deduction sucks


J

Joe-46er

I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.

What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
 
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F

Frederick Jorden

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.

What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
You should have sent this to your congress critters. They
get paid to listen to your complaints.
 
W

Wayne Brasch

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.

What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
Point this out to your members of Congress who represent you.

Wayne Brasch, CPA, M. S. Taxation
 
P

Phil Marti

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.

What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
I'm with you. This proposal comes up now and again in
Congress. Let your members know your thoughts (more
temperately worded than your message here).

Phil Marti
Topeka, KS
 
M

MTW

Joe-46er said:
What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.
How, then, do you rationalize the fact that you got a
deduction for $1,500 MORE than you actually spent?

MTW
 
S

Sassy Baskets

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.
So you think everyone should give away money EXCEPT the IRS?

If you disagree with people getting a deduction for nothing,
I certainly hope you've elected to itemize and only deduct
the $8000 you really deserve.
 
B

Brian Collie

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.

What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
Contact your congressman!
 
A

Andy in Fink

Joe-46er said:
out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.
What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.
Andy replies:

Yes. However the philanthropist who working in the charity
each weekend and Wednesday nite, mowed the church lawn,
mended the church roof, and volunteered in the hospital gets
NOTHING at all for his/her trouble. So, there's lots of
people who don't qualify that have made substantial
investment in something that is probably more dear to
themselves than money.....
What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
It would make more sense to dis-allow charitable deductions
at all. After all,one point of view is that in taking "tax
money" away from the government, it only can be "made up"
by higher rates from the taxpayers who didn't want to give
money to charities, or couldn't afford to...

A significant postion of the tax money goes to support
social services and the poor and indigent, and many feel
that since much of this burden has been lifted from churches
and charities, it can be considered "compulsory titheing".

A suggestion would be to "learn the rules" before one plays
the game. If, after learning that the money that is given
away in an act of kindness will not be replaced in one's
pocket by the government, one finds that he is less inclined
to donate, then it is a personal decision, but a better
informed one. .

Andy in Fink, Texas
 
V

Vernon V Chatman III

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.

What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
What is the purpose of your giving?
 
E

Ernie Betts

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.
That could have been figured in about 5-10 minutes, because
you said $6500 of the $8000 was cash donations.
What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.

What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
Agreed, BUT only if amounts over say $250 can be documented
by forms reported to IRS like IRA's, etc so it can be
"proved". There is too much over reporting of cash donations
now. I do taxes and many of those figures come
"right-off-the-ceiling"
 
C

CLJ1219

I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
You donated $6500 to charity but only have $1500 in other
deductions???? You paid no property tax, do not have a
mortgage, no automobile????? Are you *sure* your itemized
deductions were only $8000?

Carol
What can one expect of a day that begins with getting out of bed.
 
A

Andy Green

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.

What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
Stinks don't it?. Those are the rules...
 
A

Andy Green

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.

What sucks is that $6500 of that $8,000 was cash donations
to charities which means the greedy sob who doesn't give one
cent to charity gets the same deduction.

What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
Stinks don't it?. Those are the rules...
 
D

Dick Weaver

Joe-46er said:
I just spent hours filling out Schedule A. After I finished,
TTax said the standard deduction of $9500 was larger than my
itemized $8,000.
[snip] ...
What's wrong with this picture? Seems like cash to charities
should be an immediate unqualified deduction subtracted from
income-wages.
You don't understand the purpose of deductions. Given tax
rates that increase with taxable income and deductions that
come off your top rate, the purpose of deductions is to
transfer tax from the wealthy to those less wealthy. The
best sting is the one where the victim not only doesn't
know, but actually likes it!

Think about it, just do the math - deductions are working
just fine for their intended purpose; the lobbyists who
draft tax rules are not poor. Get the book on the tax
system just published, written by a New York Times reporter,
as I recall. Read that and you can get really angry. And as
angry as you get, you will still know that it will only get
worse.

dick w (who shouldn't post this and get identified as
radical because then people will stop reading my posts but
if I let it sit until tomorrow I'll still send it, so ...
click)
 
D

D. Stussy

Frederick said:
Joe-46er wrote:
You should have sent this to your congress critters. They
get paid to listen to your complaints.
Note that they may ignore this one. Contributions used to
be IN ADDITION to the standard deduction/zero bracket for a
while in the 1980's (e.g. 1040 line 36b on the 1986 year
form); apparently not so in the 1970's or 1980 or 1981.

They had it. They killed it. Things like that don't generally return.
 
F

Frederick Jorden

Note that they may ignore this one. Contributions used to
be IN ADDITION to the standard deduction/zero bracket for a
while in the 1980's (e.g. 1040 line 36b on the 1986 year
form); apparently not so in the 1970's or 1980 or 1981.

They had it. They killed it. Things like that don't generally return.
And when they had it it only was a pittance. We now have an
expanding number of deductions for AGI, e.g. educators,
tuition etc. What he needs is a better lobby.
 
D

Don Priebe

They had it. They killed it. Things like that don't
And when they had it it only was a pittance. We now
have an expanding number of deductions for AGI, e.g.
educators, tuition etc. What he needs is a better lobby.
Case in point! We HAD a deduction for educators. The $250
adjustment was a two year wonder, for tax years 2002 and
2003 only.
 
M

MTW

Dick Weaver said:
dick w (who shouldn't post this and get identified as
radical because then people will stop reading my posts but
if I let it sit until tomorrow I'll still send it, so ...
click)
Actually, you make an extremely valid point. All other
things being equal, DEDUCTIONS generally favor taxpayers
with higher incomes, while CREDITS generally favor lower.
So, it is often the case that we see debate as to whether a
particular item should be structured as a deduction or as a
credit.

MTW
 
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F

Frank S. Duke, Jr.

Sounds like you ought to hire somebody to do this. It does
not take very much effort to look at a bunch of deductions
and see that hey don't add up to the standard deduction.

Everybody is entitled to the same deduction, church going
old ladies, drug dealers, greedy sobs and you. Why do you
give to charity, to get the tax deduction or to do a good
deed? Another way to look at this is that you are a $1500
freeloader.

So write to your Congress person?

All freely provided advice guarantee correct or double your
money back

Frank S. Duke, Jr. CPA
Cincinnati, OH USA
 

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