Know anyone who had this problem that led to leaving work?

[shootingstar]

It feels wierd....I have a problem which does deserve some professional paid advice.

Got a stock that's doing real well but not sure for how long. Doing so well, that now I have to plan properly so won't get a overly shocking large tax hit, in deaccumulation phase. I will get taxed it's just now strategizing to avoid a larger amount.

Now am wondering if I will be working for nothing if govn't takes away what I earn over the next yr. or so.

No, I am not buying acreage and having a new home built.  

 

[Mr. Silly]

2 minutes ago, shootingstar said:

It feels wierd....I have a problem which does deserve some professional paid advice

It is good to see you came to us first.

You should probably gift it to me and avoid the tax hit.

[shootingstar]

13 minutes ago, Mr. Silly said:

It is good to see you came to us first.

You should probably gift it to me and avoid the tax hit.

Sorry to disappoint, I don't deal with foreigners.   Gifting will not solve it...it will be viewed as a disposition unless unless there is a cash in kind transfer. Still you're a foreigner and the tax authority will surely watch this type of transfer.

[Mr. Silly]

1 minute ago, shootingstar said:

 Still you're a foreigner and the tax authority will surely watch this type of transfer.

They will now that you blabbed about it on the internet.

[shootingstar]

1 hour ago, Mr. Silly said:

They will now that you blabbed about it on the internet.

No foreigners close to me that's part of my immediate family.  I'm happy to announce this....as if I haven't told everyone already here, how Canadian my family is. We're so loyal no one in my family and even cousins beyond, don't own any foreign property.  We're such homebodies. No cutlural family memories of this type of vacation property.

The more I think about it...there's no cottage, chalet or cabin in extended family as vacation property anywhere. Therefore boring family line.  We just have mega family reunion at a restaurant for a cheap multi-course meal.  I miss those.

I really do mean cheap....it works about less than $20.00/head.  Enough Toronto restaurants with decent interiors, quality food for that price and huge variety of choice.

[Dirtyhip]

20 minutes ago, shootingstar said:

No, I am not buying acreage and having a new home built.  

What does this have to do with your topic?    

You.are.so.weird.  

[shootingstar]

10 minutes ago, Dirtyhip said:

What does this have to do with your topic?    

You.are.so.weird.  

It's a minor joke...since we know you sold your present home.

Back on topic...got some complicated stuff ahead to think about.

[MoseySusan]

About the original question: real estate is how my mega-wealthy aunt shelters her income from taxes. Acreage might be the solution. No chalet necessary. 

[shootingstar]

14 minutes ago, roadsue said:

About the original question: real estate is how my mega-wealthy aunt shelters her income from taxes. Acreage might be the solution. No chalet necessary. 

Omigod...I really shun the idea of owning acreage..that does nothing/not productive.  We can't live on it. Forget about camping. Those days were 15 yrs. ago.  

Actually owning acreage is such a foreign  idea to me. Land that just sits there.  I also can't swim...so the idea of using waterfront except lounge around doesn't mean much.

Dearie understands acreage...he used to be a part-time weekend farmer before I met him.  He gave up his driver's license last year.

Besides already at home, we do live near nice water bodies. For sure, it's lovely to see water....as long as it doesn't flood.

[Dirtyhip]

5 minutes ago, shootingstar said:

It's a minor joke...since we know you sold your present home.

Back on topic...got some complicated stuff ahead to think about.

You know that?  I think you might be wrong.  Matter of fact, you are completely wrong on that.

In regards to the stock sale, if it is a solid company...why sell it all?  Take bites of it and it may lessen your tax hit for the year.  No idea how your taxes look in your area.   Here, you are taxed on gains, but it depends on your income level, etc. 

[MoseySusan]

5 minutes ago, shootingstar said:

Omigod...I really shun the idea of owning acreage..that does nothing/not productive.  We can't live on it. Forget about camping. Those days were 15 yrs. ago.  

Actually owning acreage is such a foreign  idea to me. Land that just sits there.  I also can't swim...so the idea of using waterfront except lounge around doesn't mean much.

Dearie understands acreage...he used to be a part-time weekend farmer before I met him.  He gave up his driver's license last year.

Besides already at home, we do live near nice water bodies. For sure, it's lovely to see water....as long as it doesn't flood.

She owns mountain property to protect it from development. It’s habitat to wildlife, so she doesn’t see it as land that’s doing nothing. 

[shootingstar]

9 minutes ago, Dirtyhip said:

You know that?  I think you might be wrong.  Matter of fact, you are completely wrong on that.

In regards to the stock sale, if it is a solid company...why sell it all?  Take bites of it and it may lessen your tax hit for the year.  No idea how your taxes look in your area.   Here, you are taxed on gains, but it depends on your income level, etc. 

Well, you are right....I just have to figure out with paid advice to keep stock for awhile  It is a global firm, it's Canadian and dollar wise even higher than Apple/share.

I just had to add in CAnadian, because we're just a modest country ...you know backwater to the rest of the world. It's handy so that some Canadian businesses just charge on ahead globally.  Then one day, rest of the biz world wakes up in shock.

[shootingstar]

11 minutes ago, roadsue said:

She owns mountain property to protect it from development. It’s habitat to wildlife, so she doesn’t see it as land that’s doing nothing. 

She is so lucky to go somewhere to enjoy in a hike, etc. Where I live, alot of locals like the idea of owning areage....in the prairies. That definitely is less exciting but maybe easier to sell in future...ie. high speed rail corridor 50 yrs. later or something.  

[maddmaxx ★]

I bought some acerage yesterday.

[shootingstar]

10 minutes ago, maddmaxx said:

I bought some acerage yesterday.

Hope you have happy visits, max to make it all worthwhile.

Even the thought of renting out a home makes me cringe. After reading stories of sheister renters, who sublet to another party or worse, turn it without knowledge of owners, into an Airbnb.

Landlord responsiblities can be a headache.

[maddmaxx ★]

1 minute ago, shootingstar said:

Hope you have happy visits, max to make it all worthwhile.

Even the thought of renting out a home makes me cringe. After reading stories of sheister renters, who sublet to another party or worse, turn it without knowledge of owners, into an Airbnb.

Landlord responsiblities can be a headache.

Check the spelling.  There is a joke hidden in there.

Acer Computers.

[Ralphie ★]

3 minutes ago, maddmaxx said:

I bought some acerage yesterday.

Jay Lenovo probably owns lots of property too for his garages.

[Longjohn ★]

59 minutes ago, shootingstar said:

Sorry to disappoint, I don't deal with foreigners.   Gifting will not solve it...it will be viewed as a disposition unless unless there is a cash in kind transfer. Still you're a foreigner and the tax authority will surely watch this type of transfer.

Look who is calling who a foreigner. You’re the one who lives in Canucistan. 

[MoseySusan]

29 minutes ago, shootingstar said:

She is so lucky to go somewhere to enjoy in a hike, etc. Where I live, alot of locals like the idea of owning areage....in the prairies. That definitely is less exciting but maybe easier to sell in future...ie. high speed rail corridor 50 yrs. later or something.  

But what’s to stop you from investing your gains in acreage in the other provinces? My aunt lives in southern CA, but her property is in CO, NM, and Mexico.

[maddmaxx ★]

Language barriers.  Americans who don't speak English posting with someone raised Chinese who now lives in Canada and speaks Canadian which is also not English.

It's a wonder we can communicate at all.

[Dirtyhip]

Acreage is great.  Two words:  Elbow room.

• Won't really see the neighbor's homes from our windows. 
• City lots are very close.  I can hear the neighbor's garbage can slam shut.  I can hear their dogs like they are in my bedroom.
• Less congestion.  Area for a large garden with my OWN water.  
• Less light pollution.
• County property offers lower property taxes
• Less crime compared to the city
• Parking is a non-issue

[2Far ★]

1) Have any loser stocks you can sell to offset the gains?

2) Acreage: what about timber? Or naked acres & plant trees?

[MoseySusan]

Wait. So, your spouse is in Vancouver? And you’re in Calgary? Cash that bitch out and go be with your man! 

[donkpow]

As far as I know, people work because they like to. You should donate your income to charity, continue to work, and cash out the equity. Be happy that you will be taxed excessively because of your decision to invest part of your income in successful companies. It's for the greater good.

[shootingstar]

1 hour ago, donkpow said:

As far as I know, people work because they like to. You should donate your income to charity, continue to work, and cash out the equity. Be happy that you will be taxed excessively because of your decision to invest part of your income in successful companies. It's for the greater good.

Sure it's "happy" to earn money....after um 37 years of work. 

My greater "good" is only investing in primarily Canadian firms. 

I really mean that...global Canadian firms with strong global customer market or owning/managing infrastructure in other countries. However covid continues to challenge alot of different biz.

[shootingstar]

3 hours ago, 2Far said:

1) Have any loser stocks you can sell to offset the gains?

2) Acreage: what about timber? Or naked acres & plant trees?

Like all humans, we each possess  a few losers. Yea, you're right, Canada has same type of tax rule for #1.  For #2, I would be afraid of an arson wildfire.  I used to work for the Fire Marshal's Office.

[Kirby]

While accumulating retirement savings can be difficult, knowing how to spend it tax effectively can also be tricky.     As you mentioned, sometimes getting some paid advice for tax planning can be money well spent. 

[shootingstar]

3 hours ago, Dirtyhip said:

Acreage is great.  Two words:  Elbow room.

• Won't really see the neighbor's homes from our windows. 
• City lots are very close.  I can hear the neighbor's garbage can slam shut.  I can hear their dogs like they are in my bedroom.
• Less congestion.  Area for a large garden with my OWN water.  
• Less light pollution.
• County property offers lower property taxes
• Less crime compared to the city
• Parking is a non-issue

Hmm..we have several owners in our building, that each owner/tenant has a dog.  Let's see this year, I heard the neighbour's dog (across our same floor level) little poodle-terrier...twice this year. Bark 1-2 times for a short 3 min.  Pretty tame.

I'm serious.  I have...not...heard dogs in our condo bldgs.

I'm not a gardener and neither is he.

I rent out my parking stall.

We don't drive, DH. No car.  But really, in a big city that's not the end of the world.  Sure, some forumites, will get depressed one day when they relunctantly give up their driver's license.  I'm hoping all of you, plan well by biking, walking more often so will  not miss car much at all in your lifestyle later in life.

Just to give an idea of self-help, I went home to look after dearie after his heart stent. Then I flew back to my job.  Meanwhile he walked for 10 min. to grocery store to buy food during his recovery.  Very simple life.  He takes 40 steps in a different direction from store to see doctor.  Or takes 25 steps from store in another direction to go to medical testing lab.

He will go for cardiac testing at university. So either he'll bike (which he has been 1 wk. after his stent) there which is a 12 km. trip one way or take transit.  It's a beautiful ride..you can see the ocean.  I'm not worried:  all  Vancouver transit buses have bike racks if he doesn't feel like cycling back home  (which he will do it unless it's super windy or rainy too hard).

[shootingstar]

4 hours ago, Philander Seabury said:

Jay Lenovo probably owns lots of property too for his garages.

We just have to worry about multiple bikes.

[shootingstar]

1 hour ago, Kirby said:

While accumulating retirement savings can be difficult, knowing how to spend it tax effectively can also be tricky.     As you mentioned, sometimes getting some paid advice for tax planning can be money well spent. 

This is where being a server at a high end restaurant for many years (with some good tips, maybe a 2nd job on side occasionally), living a frugal life with sharing home costs with trustworthy live-in, saving money is better in Canada:  You won't be taxed overly much in retirement and you won't be charged directly for heart stent/cardio tests, heart pacemaker implant, cataract surgery, etc.

So to win the $25 milion lottery sounds nearly nightmarish.  Well, gifting might be a bit easier in Canada, depending on method.

[Dirtyhip]

50 minutes ago, shootingstar said:

We don't drive, DH. No car. 

I know.  We all know this fact.

My comment was just an explanation of why people might love having multiple acres.

[shootingstar]

5 hours ago, roadsue said:

But what’s to stop you from investing your gains in acreage in the other provinces? My aunt lives in southern CA, but her property is in CO, NM, and Mexico.

Your aunt is a risk-taker. Someone at work, mentioned an aunt of hers and her hubby where they have bought a house, renovated and sold it over $10 million in Metro Vancouver. lst time I met someone who knew someone else well who did that sort of flippin'.

I know someone whose mother (who is probably abit older than i.) owns 6 homes. Probably houses, condos. Her adult daughter helps manage these properties. They have homes to live-in for Metro vancouver and in toronto...in addition to prairie city.  Daughter is on our condo board and for paid job, she also manages a suite of co-ops locally.  She herself runs little side business, contracting out for repairs for seniors.

They are the most ordinary people. You would not guess that they owned multiple properties (and who knows, some mortgages to pay off...).

No doubt, the entreprenurial past property owner, Wilbur could weigh in on all this.

 

[Bikeguy]

10 hours ago, Mr. Silly said:

10 hours ago, shootingstar said:

It feels wierd....I have a problem which does deserve some professional paid advice

It is good to see you came to us first.

 

10 hours ago, shootingstar said:

Sorry to disappoint, I don't deal with foreigners.

Hmmm...   You do realize most of us foreigners need software  (or a professional) to figure out our tax laws.   We don't know our tax laws, but I'm sure we can help.

That said...  

One guy I worked with made a LOT of money in the stock market.  He worked mostly for income to help pay is taxes, and he needed money for food for his family from time to time.   

Before you quit your job you should figure out how you will pay, or even if you have to pay large tax bill.   

I asked that guy to adopt me once...  He didn't.  (I won't ask... you hate foreigners).  

[MickinMD ★]

11 hours ago, shootingstar said:

It feels wierd....I have a problem which does deserve some professional paid advice.

Got a stock that's doing real well but not sure for how long. Doing so well, that now I have to plan properly so won't get a overly shocking large tax hit, in deaccumulation phase. I will get taxed it's just now strategizing to avoid a larger amount.

Now am wondering if I will be working for nothing if govn't takes away what I earn over the next yr. or so.

No, I am not buying acreage and having a new home built.  

 

What are your stock tax laws?  In the USA, you don't pay taxes on stock price gains until you sell the stock, and then the tax rate is only 15% or 20% (long-term capital gains) if you owned the stock at least a year or as regular income otherwise (short-term capital gains).  If the stock pays dividends, those are taxed in the year they are recorded/issued, ordinarily as part of your regular income.

[shootingstar]

3 hours ago, Bikeguy said:

 

Hmmm...   You do realize most of us foreigners need software  (or a professional) to figure out our tax laws.   We don't know our tax laws, but I'm sure we can help.

  Us too, me too, I need software or go to the govn't tax site...which is still too much at times.   

 

2 hours ago, MickinMD said:

What are your stock tax laws?  In the USA, you don't pay taxes on stock price gains until you sell the stock, and then the tax rate is only 15% or 20% (long-term capital gains) if you owned the stock at least a year or as regular income otherwise (short-term capital gains).  If the stock pays dividends, those are taxed in the year they are recorded/issued, ordinarily as part of your regular income.

I can't remember tax rate on capital gains for CAnada.  Yes, dividends are taxed.  Sorry look at tiny red box on left:  For rich people, these companies' clients.

From 1 of the big global accounting firms  (well, I did work for 1 of them awhile back..in the tax library):

[shootingstar]

[Tizeye]

Move to a tax haven where Canadians ex-pats are not taxed on income. If you don't want to liquidate it while there, shelter it  under a foreign trust. I hear the Channel Islands are quite nice. Do you prefer Guernsey or Jersey?

[Razors Edge ★]

On 9/27/2020 at 10:08 AM, shootingstar said:

Know anyone who had this problem that led to leaving work?

It feels wierd....I have a problem which does deserve some professional paid advice.

I pretty much gave up trying to figure out complex tax situations and hand off this stuff to my tax attorney and/or my financial guy.  I'd say things would have to be poorly planned and executed (in the US) to ever think or need to leave work to deal with a financial windfall.

[Tizeye]

Not the same but had something very similar. When passed over for Major (a personnel crunch point as more Captains than the sum total of all other officer ranks. Major guarantees a 20 year retirement even if not further promoted (and you didn't do a career limiting deed.) As an involuntary discharge there was a $33000 severance that had never been adjusted for inflation since created post Vietnam. The problem was two fold as the government gave with one hand and took back with the other. First, you couldn't tax shelter it in an IRA as it was severance pay, not retirement substitute. The other was a large lump sum bumped into a higher tax bracket, increasing the tax payback. The only alternative was to pay the taxes.

[MickinMD ★]

Since you have not sold the stock, you do NOT have any income to report on it, unless it's paying dividends.

"In Canada, 50% of the value of any capital gains are taxable. Should you sell the investments at a higher price than you paid (realized capital gain) — you'll need to add 50% of the capital gain to your income." (https://www.wealthsimple.com/en-ca/learn/capital-gains-tax-canada).

You report income from stock gains AFTER you sell the stock not before.  I bought Abbott Labs in 1993 and have added to it.  It, plus its spin-offs, have multiplied my original investment many times over.  But since I have not sold the stock, I have no income from it except the dividends (that count as regular income even if I reinvest them).  When I sell it, I'll have to declare the capital gains, which will then be taxed at a 15% to 20% rate, which is lower than Canada's 50% rate if that quote I listed is right.

When you sell, the gain may of may not significant affect your income bracket, but you might be able to spread it out - unless you invest only for the short term.

 

[12string]

On 9/27/2020 at 10:44 AM, Dirtyhip said:

In regards to the stock sale, if it is a solid company...why sell it all?  Take bites of it and it may lessen your tax hit for the year.  No idea how your taxes look in your area.   Here, you are taxed on gains, but it depends on your income level, etc. 

Do this.  

And don't worry so much about the taxes.  Sure, you want to file everything right to pay the least taxes, but consider this:

If you put $5K into a stock, and Sell it at $10K,   You'll pay your 25% on that $5K gain - $1250.  You've still got $3750 more than you had before, and you get to now use the other $5K that's just been sitting around.  Really, that's not a bad thing.  If you didn't have gains to pay taxes on, you wouldn't have gains to spend, either.

[Kirby]

12 minutes ago, MickinMD said:

Since you have not sold the stock, you do NOT have any income to report on it, unless it's paying dividends.

"In Canada, 50% of the value of any capital gains are taxable. Should you sell the investments at a higher price than you paid (realized capital gain) — you'll need to add 50% of the capital gain to your income." (https://www.wealthsimple.com/en-ca/learn/capital-gains-tax-canada).

You report income from stock gains AFTER you sell the stock not before.  I bought Abbott Labs in 1993 and have added to it.  It, plus its spin-offs, have multiplied my original investment many times over.  But since I have not sold the stock, I have no income from it except the dividends (that count as regular income even if I reinvest them).  When I sell it, I'll have to declare the capital gains, which will then be taxed at a 15% to 20% rate, which is lower than Canada's 50% rate if that quote I listed is right.

When you sell, the gain may of may not significant affect your income bracket, but you might be able to spread it out - unless you invest only for the short term.

I think the quote says that 50% of the gain is included in income, and then that is taxed at the relevant tax rate for the individual.  So if the highest marginal rate is slightly over 50% (at least in some provinces) so you'd pay 50% on the 50% included in income.  So it could be as high as 25%, but less if someone isn't in the top bracket.  So capital gains still get preferential treatment compared to earned income.

[Razors Edge ★]

4 hours ago, Tizeye said:

Not the same but had something very similar. When passed over for Major (a personnel crunch point as more Captains than the sum total of all other officer ranks. Major guarantees a 20 year retirement even if not further promoted (and you didn't do a career limiting deed.) As an involuntary discharge there was a $33000 severance that had never been adjusted for inflation since created post Vietnam. The problem was two fold as the government gave with one hand and took back with the other. First, you couldn't tax shelter it in an IRA as it was severance pay, not retirement substitute. The other was a large lump sum bumped into a higher tax bracket, increasing the tax payback. The only alternative was to pay the taxes.

Yeah, it's the classic complaint that never really bears out, but does cause consternation due to the higher withholding of taxes for bonuses or severance or the like.  You get MOST back via a refund at tax season, since, while it is taxed at a higher rate (withholding), when it is averaged in to the whole year, you likely don't go up a tax bracket.  So, if you're cruising along earning $100k and taxed at 24%, you pay $24k in taxes.  But, get a big year end bonus, and that December might nail you with a 35% tax rate since it now assumes you make 4x your salary!  Of course, that means a big withholding for Dec (14.5k vs 2k) BUT, come filing season, you end up getting $4.5k BACK and also earned a NET of $102k vs $77k, so still way ahead and not too severely taxed.

[Tizeye]

1 hour ago, Razors Edge said:

Yeah, it's the classic complaint that never really bears out, but does cause consternation due to the higher withholding of taxes for bonuses or severance or the like.  You get MOST back via a refund at tax season, since, while it is taxed at a higher rate (withholding), when it is averaged in to the whole year, you likely don't go up a tax bracket.  So, if you're cruising along earning $100k and taxed at 24%, you pay $24k in taxes.  But, get a big year end bonus, and that December might nail you with a 35% tax rate since it now assumes you make 4x your salary!  Of course, that means a big withholding for Dec (14.5k vs 2k) BUT, come filing season, you end up getting $4.5k BACK and also earned a NET of $102k vs $77k, so still way ahead and not too severely taxed.

It is not quite that easy, particularly when no withholding was offered and you had to be aware of to set some aside. But ignoring that issue. In your example, everything stayed in the 24% bracket. For the example I am going to use single filer, but married jointly would work with less tiers. It is the marginal tax rate that comes into play. Of that 102,000 earnings, $0 to 9875 would be taxed at 10%, the next up to $40125 would be taxes at 12%, the next up to $85525 at 22% with the remaining $16423 taxed at 24%. And yes, the tax would be less than the straight 24% of $24480 noted in the table. Rather, it would be $18546. But here is the rub. The $33000 bonus/severance kicks in and with all the lower margins used, 100% of the $33000 is taxed at 24%, adding another $7920 to the total tax bill. That is a 42% increase in taxes from $18546 to the new total of $26466. This assumes that all the figures are after deductions and represent only the true tax liability.

[Razors Edge ★]

46 minutes ago, Tizeye said:

It is not quite that easy, particularly when no withholding was offered and you had to be aware of to set some aside. But ignoring that issue. In your example, everything stayed in the 24% bracket. For the example I am going to use single filer, but married jointly would work with less tiers. It is the marginal tax rate that comes into play. Of that 102,000 earnings, $0 to 9875 would be taxed at 10%, the next up to $40125 would be taxes at 12%, the next up to $85525 at 22% with the remaining $16423 taxed at 24%. And yes, the tax would be less than the straight 24% of $24480 noted in the table. Rather, it would be $18546. But here is the rub. The $33000 bonus/severance kicks in and with all the lower margins used, 100% of the $33000 is taxed at 24%, adding another $7920 to the total tax bill. That is a 42% increase in taxes from $18546 to the new total of $26466. This assumes that all the figures are after deductions and represent only the true tax liability.

I was going for "simple", but yeah, there is nuance to tax rules and a progressive curve, and many ways to play the "game".

I guess, super simple would be earning $102k equally over 12 months would have the same taxes as earning $68k from Jan-Aug, but retiring with $34k severance in Sept.  Huge Sept tax withholding, but end of year, identical tax burden.  Similarly, imagine getting a pay raise on Jan 1 of $5/hr (~$10k/yr) vs getting a $1/hr raise (~$2k extra) and an $8k bonus in Sept.  Folks - in my circles - always complained about the taxes on the bonus but never on the raise, yet the taxes - for the year - would be the same.

[Dottleshead ★]

On 9/27/2020 at 7:08 AM, shootingstar said:

No, I am not buying acreage and having a new home built.  

 

Think shed.

[Page Turner]

...in the United States, the way people shelter capital gains from stock sales are to either sell them in a year when you also sell some stuff at a loss to offset the gains, or to structure the sale so that the gain falls in a year when you expect your income from other sources to be low....so for most people that's after you retire, not before. There are also some very strange provisions for carrying forward and backward both losses and gains that change often with new tax law packages.  Usually, peons like us can't really benefit from them.

Buying land or real estate with the gains from a stock sale does nothing to shelter that income, AFAIK.

There are some kind of complex rules for reinvesting any gain before you actually get access to it as cash.  You  need to be cautious in these.

 

This is the main reason that index funds are so pleasant as investments.  You can shift money around without actually registering a gain, and you don't need to dick around with individual stocks, keeping track of your cost basis, and crap like that. All of which is a PIA to deal with in the US. So I presume it's also tedious up there.

But I really don't know much about Canadian tax laws. Only that you are socialists who suck the life blood out of the more Conservative Canadians to give it all away to takers. 

 

[Page Turner]

...I would be remiss at this point in not mentioning that my President paid only $750 in taxes for 2016, the year he took office.  Sadly, as a Canadian citizen, you are ineligible to run for that office.

[Razors Edge ★]

5 hours ago, Page Turner said:

...I would be remiss at this point in not mentioning that my President paid only $750 in taxes for 2016, the year he took office.  Sadly, as a Canadian citizen, you are ineligible to run for that office.

To quote @maddmaxx from another thread, "You have to carry the dead beats." 

Ignoring the $72 million refund?  We'd almost be "okay" if we got $750/yr in taxes from deadbeats, but paying out millions to losers is just bad management of US tax dollars.

[shootingstar]

19 minutes ago, Razors Edge said:

To quote @maddmaxx from another thread, "You have to carry the dead beats." 

Ignoring the $72 million refund?  We'd almost be "okay" if we got $750/yr in taxes from deadbeats, but paying out millions to losers is just bad management of US tax dollars.

Am hoping for fence-sitters in the U.S., that this latest tax revelation will make it easier for them to vote more intelligently: now what he has been like for decades.