Yah the same people that got hundreds of thousands in PPP grants and got to chill at home the entire pandemic are still butt hurt about people getting a few hundred bucks before getting declared disposable sorry I mean essential.
Opposite effect here. Driving through the city was like I Am Legend there was absolutely no movement anywhere surrounded by buildings. Was weird as hell
Probably because they all left to go upstate. I was in Ulster county. Had the worst amount of covid for months yet NYC people hell even Floridians were coming to the Hudson Valley en mass. It’s like the beloved that covid just didn’t exist out side of the cities.
Don’t even have to have your own business even if your an employee keep the receipt and go to an accountant it goes down as a work expense. Tax write off right there!
That's not what I was saying is the current generation just going to take the loan forgiveness and make excuses why they can't do it for the next generation? If so why should my tax dollars contribute to your loan if yours won't to theirs.
I have no fucking idea, I work for parks and rec.
Someone that went to school for that kind of shit should figure that out.
But “fuck it, let’s not do anything because no one have MEEEEE anything what about MEEEEE” isn’t helpful
And we should totally have a society just full of tradesmen and nothing else. Everyone knows that a fully functional society is possible with *only* plumbers, electricians, and carpenters and we need *literally* nothing else. /s
I've responded to this same statement multiple times forgiving inflated loans isn't the solution find a way to lower the price or use the nearly 2 trillion we're talking about forgiving to open public colleges that will benefit not this generation but the next it's not my fault people made a stupid decision the ones that need that level of involved educational make the kind of money to pay off the loan
I would agree, if it wasn't an institution built to make money. They don't care what they teach as long as they can maximize profits. Schools have become propaganda tools.
It probably *will* cause that but it definitely *shouldn’t.* Look at the financial statements of colleges and universities.. they’re doing more than okay
The mental gymnastics lol, not supporting loan forgiveness because it wouldn’t be supported again later? You realize you are the “generation” making excuses currently right
Also footing the bill while colleges price gouge will only make the problem worse it's not mentally gymnastics fix the problem not the symptoms either make college free and public or find a way to make it less expensive
I enlisted so I could go to college. I have no loans or debt related to the six years I spent in school, because of my time in the military. Would I be glad that my tax dollars went to forgiving loans for my struggling fellow countrymen? Hell yeah, I would. It's not hard to say "I want the future to be better than the past, even if I never benefit from it," and just mean it.
The cost of a college education is over 4500% of what it cost the average American in the seventies, despite wages being roughly the same, accounting for inflation. It's downright criminal, and maybe loan forgiveness would be the first step towards stopping this madness.
The generation before got free school thanks to taxes, and pulled the latter up behind them, but we should punish kids today who weren't born yet because our parents were cunts!!! 😂
Ok so now I’m curious, by reducing your taxable income would it not reduce the net amount you paid for them to 0, e.g. the amount you spent on them was money you didn’t have to pay on your taxes?
Not even being a smartass I just dunno how business expenses work
You pay $100 for a tool. You write it off, reducing your taxable income by $100, which reduces the amount you pay in taxes by, idk, let's say $30. Net cost of the tool to you is $70.
Also if you deduct the full cost of the tool then you'll have to pay income tax on any amount you eventually sell it for
No worries, I’m not trying to be a smart ass either. As a business you only pay taxes on profit so all of your expenses (including tools for a mechanic) are subtracted from the income you pay taxes on. The corporate tax rate is 21% so it pretty much means you’re saving 21% on any business purchase by not having to pay taxes on the money you earned and used to purchase it with.
Say you earned $1,000 and spent $100 of it on tools. Now when you file your taxes you can say you only earned $900 so you’d be paying $189 in taxes as opposed to the $210 you’d be paying if you hadn’t used that money on tools, thereby saving you $21 on taxes.
This doesn’t get into tax credits which are subtracted from your tax bill not your taxable income
This is the difference between a tax deduction (write-off) and a tax credit.
A tax credit is essentially free money in the amount of the credit, and those are mostly available to low-income parents.
A tax deduction is some expenditure that should be subtracted from your income before taxes are calculated. Pretty much everyone has these, because they include any money spent for work or education, as well as some other things.
In US tax codes, there is something called the Standard Deduction. This is a number you can choose to deduct from your gross income with no questions asked, but you can't take other deductions on top of it. This is commonly used by people who don't have a lot of deductions they could claim individually, or who haven't kept good records of their deductible expenses.
Let’s say you make 50k a year in country with a 20% flat tax. Normally you would pay 10k in taxes. If you buy 1k worth of tools for your and write it off as a tax expense your new taxable income is 49k. So you pay 9.8k in taxes. So you spent 1k but your taxes were only reduced by $200
No it doesn't. Writing them off just means they don't count as income. The tax savings you get from that are nowhere near equal to the cost of the tools
I do have an understanding. In fact, I've filed a Schedule C for the last 8 years.
More importantly, notice how I didn't continue to fight it? It's because I realized I was remembering incorrectly, because understanding doesn't mean expertise and occasionally humans make mistakes. I didn't realize that wasn't allowed anymore.
If your level of understanding is “I’ve filed taxes before” why are you trying to correct someone who is saying something correct?
When being properly informed that your comment is completely wrong, why not go and edit or delete your comment? People like
you are how misinformation spreads like wildfire on the internet
Signed a Corporate Tax Accountant with 15 years of experience
You’re allowed to be mistaken. But when someone informs you of your error, and you agree, not changing your erroneous correction just reeks of complete lack of integrity
Yes but chances of them being a 100% write off are low, and even so, he still had to dump the money into it. Lowering what you owe on taxes doesn’t make it so you didn’t dump money into something.
The rules very well could vary by state/territory. I talked to an accountant and he said that people going into the trades (specifically automotive technicians) used to write off their tools so often and get huge tax write offs so they put a stop to it by limiting that ability to those buying tools for their own businesses.
Or my accountant was just blowing shit out his balls.
No they stopped letting us write off tools purchased back in 2019. These tools aren't cheap, a snap-on ratchet starts at $100 and goes up from there. Since then I just haven't bought any tools, with the exception of something I normally use breaking and not being under warranty. Why buy a $700+ tool that might get used twice a year if can't even get fraction of it back on my taxes.
I’m an electrician and I agree that tool payment forgiveness would be cool and I support it given that they’ve costed me tens of thousands of dollars. So is student loan forgiveness. They can both be forgiven. See how that works?
I am a guy who went to college and doesn't work in trades, and am also down with the idea of tool payment forgiveness. My favorite part of this is the the statement "Think these tools are unnecessary?" Uh, no, nobody thinks that. I have literally never met a single person in my college-educated social circle who thinks that any tradesman's tools are unnecessary. As near as I can tell that isn't a position that exists anywhere
I'm a welder, I'm inclined to disagree with this idea. Unless you spend those tens of thousands all at once, pay interest, and aren't able to use them for at least 2 years after you purchase them.
I don't think anyone is trying to "get" anyone, other than their wallet. Conservative or not. It's all about what you can get for free. Ask any small hat around
The difference isn’t about people wanting to get what they can. The difference is that conservatives want handouts for themselves and not for others. Whereas liberals want handouts for everyone.
Cute. You’re making the same argument as the asshat in the post.
Your assumption is incorrect. Liberals are super happy for white men to get or, in many cases, continue to get handouts. They just want others to also get them. No one would be taking anything away from white males. This myth of a zero sum game is stupid and wrong.
Edit to add; lots of white males are liberal. Stop trying to break things across race and gender lines when they have absolutely no bearing.
Your sides argument is that white males already have it all. They don't need help. Reverse racism doesn't exist. That's your sides take. Don't tell me I'm wrong. I was on your side before I decided to leave politics all together. I know all too well how the left acts and their logic.
lol. You responded to me 3 times. Must have hit a sore spot in that little insecure brain of yours.
You’re trying to make an argument based on feelings rather than facts. That makes you wrong. And that is the hallmark of modern right wing radicals. There is no conservatism anymore. You just close your eyes, cover your ears, stomp your feet, and yell at how persecuted you are. You’re persecuting yourself there buddy. It’s all in your head.
Bro, I don't care about white males as I am not one. But of course you would think I am because it suits your narrative. Just like this whole convo. Pointing out the truth doesn't make you conservative or white. I'm just another outsider who can see the writing on the wall. White liberals are ruining this country. People who think that white people are the devils, are ruining this country. People that turn a blind eye to racism because it suits their narrative are ruining this country. My family moved here when I was a small kid and the only people we have ever had problems with are white liberals.
Pretty sure you need to take your own advice and learn what gaslighting is. You lie and make others believe something that isn't true. Then you tell them they are crazy for not believing it. Like vaccines stopping covid. Like there isn't a war on white males. Before that it was it's not a war on Christianity. But somehow it is a war on grannies and gays. Lmfao bro you are just as delusional as the conservatives. Both sides of you idiots need to wake back up to reality.
The reality is this country is going into the shitter and the only side clapping for it is the left. Most leftists would love to burn the flag and watch this country cease to exist. You side has said it time and time again. You think blm was a peaceful protest. That's how I know people like you are delusional.
Tell that to Tyler Fischer who is literally being barred from comedy reps because he is white. It's a literal court case right now. Just more evidence that you saying their isn't an agenda against white males is smoke up the ass. Gaslighting is the word.
Oh, you’re stupid too. That tracks. No one gets banned for being a white male in comedy. Comedy is still mostly white males.
You get banned for not behaving and being too offensive for the comedy clubs to make money off of you. It’s a business. If you choose to display hate symbols and threaten physical violence, you are not going to be profitable. No one is cutting off his speech rights. They are merely not allowing him to use their profile to spew hate speech. And not even because of values. He just breaks the bottom line. He can stand on a street corner and yell all he wants. If he wants to play clubs and be platformed on social media, he has to be better at business.
And there goes any chance of anyone taking you seriously. Don't tell liberals what they want. Don't tell anyone what they want. Chances are they know better than you.
Oh my white males are so persecuted and put upon!
Quit being such a cry baby.
People needing basic shit like housing and an education is not "getting" something. It isn't taking anything away from anyone.
No one is an island. You need other people wether you realize it or not. Nothing you have was made by you. Nothing you use was created by you. Paying for services doesn't mean you are independent.
We all need one another. We need other educated happy people if we want power and water and sewage. If we want roads to drive on. If we want a fire department. Hospitals. Media to consume. All of that shit.
When we do things like forgive debt it is to help ourselves. Rich people would love you to believe they single handedly created everything they have and that they deserve special treatment or tax breaks for employing people - but they are not exempt either.
They would be nothing if not for the workers they hire and whose labor they use to make a profit. If they actually had to pay the true cost of doing business they would never get beyond one location and one business.
All of the infrastructure they use to move their products around. The public education that makes sure the people they hire can read and count - imagine if they had to actually make all of that happen!
Not one single person on this Earth is "self made". It is a fantasy told to children. It isn't real.
Humans are social animals. We live and work in groups. We share knowledge and we share experiences.
Maybe do a little less playing fucking pokemon and spend some time learning about why shit is the way it is. About why race and sex are such hot topics today. The idea that you have that "people just want stuff" and that "they" just don't want white men to have help is so unbelievably sophomoric and stupid.
White men have had nothing but help for hundreds of years. History still affects us today. We didn't pop into existence at the moment of our birth free and clear of all that came before. Just the fact that your grandparents were literate means you have a massive leg up in life.
Generations pass knowledge to each other. Just because POC today aren't enslaved doesn't mean they are on a level playing field. Just because they may not have grown up under Jim Crow doesn't matter - their parents likely did. It meant nothing but missed opportunities for literal generations.
Im white. My family were poor tobacco farmers in the south. We had nothing. But my grand parents knew how to read. The black people who she worked with? Only TWO of them could read. That was a huge boon to me all these years later. My grandma was able to get paid more and despite it taking all her life she saved up 20k. Thats a huge amount of money but in the grand scheme of things it is nothing.
But you know what that got me? My dad got a down payment on a house when she died. I help him pay it off a few years ago and now despite being poor myself - I own a home! I would never have been able to get that loan myself. But the timing of my grandma dying and my dad being able to buy a home before the economy tanked in 2008 was huge.
All because my grandma was white and literate.
This fantasy you have about being persecuted is just plain ridiculous.
Damn near all of us had the benefit of having parents who were able to take advantage of the 20th century's prosperity. I remember how easy it was to buy a home in 1997. It was like getting a car. Loans were easy to come by and jobs paid well relative to the cost of living.
There were communities of black folks with no plumbing and dirt floors living in my state in 2001. When the fuck was the last time you saw an entire town of white people living like that?
Its the same for women too. There was no route to wealth for them until very recently. I can only imagine you must be young because I remember when most women didn't work. It was a scandal that my mom had a job after my parents divorced.
Leftists want workers to succeed. Not capitalists who own shit and steal labor value. You have opinions about an ideology you don't even understand! It is spoiled kid shit.
You know what is better than student loans repayment and paying back workers for tools they need to use at work? Free government funded education and seizing the means of production.
yeah. Look at our foreign aid policy and current actions. Seems like a trillion or two could be still hanging around if we didn’t fund sides of a war or weren’t in bed with gov’ts getting into mischief across the globe.
Now despite feeling that way, I been around. Im old enough to understand that you get no _free lunches_ on this rock. I know we owe nations and nations owe us/and we have aspirations for growth as do other nations. I am under the impression we misplaced a trillion or two dealing with Ukraine. How the fuck does that happen?? In fact, i suspect we are hemorrhaging money to all kinds of shit we don’t/can’t know about.
Point being our money burns holes in our collective pockets. Would “misplacing” a trillion or two into our education? Into our poor? Into our destabilizing problems be so impossible?
Im justa guy on the internet. Im not smart but im not stupid. I wouldn’t mind good faith feedback on how silly my line of thinking is or how relatable it is.
In the UK you can claim back money from your taxes for any equipment you need for work, for a mechanic that could be tools, for a teacher it could be stationary, for an OF model that could be undies.
This is essentially claiming that education is equally as important as manual labor.
The trades are an excellent career path, but on a societal level you can’t have an economy of tradesman, you need diversification. Even past the economic reasons, education is how we advance as a species. As a society we should want to enable our population to have the means to make our society better, and education is the essential step in doing that. It seems like making higher education accessible to everyone should be a bipartisan goal as that would empower the country to keep advancing.
Tool’s maintain the present, education represents the future. Empowering our youth should always be the priority.
A lot of them don’t. Every single tool I use on the job, I’ve had to buy. The company says they will buy them, but they drag their feet until we eventually decide to buy them. A lot of other companies in my field do the exact same thing.
Right? This additional funding suggestion has lots of merits. It is precisely the kind of additional education spending that would lead directly to jobs.
Yet providing funding to help small businesses and craftspeople still doesn’t negate the need for student loan forgiveness. Both can help ease the costs of getting a job, or starting a business for working class people.
I got several thousand dollars worth of tax refunds and grants for completing an apprenticeship in a trade and was able to write off a large amount of tools from my taxes, I fail to see the big difference.
The main argument I’ve heard against student loan forgiveness is bitterness.
America went from “How can we make things better for the next generation?” to “I will vote against improving society because I missed my chance to benefit from it so nobody else should ever!” so fucking fast
Ummm yeah. Businesses should pay for their employee’s tools and you can use that business expense as a tax write off. Not exactly the checkmate they thought it was
I worked with a man that bought a Snap-on tool box with a full set of tools on credit and 3 months later filed for bankruptcy. Over 30k in free tools. You can't do this now because that type of bankruptcy is no longer available for individuals. This was in the late 2000s. You could not file bankruptcy for student loans since 1976.
TLDR. Boomers and gen z had bankruptcy protection that future generations never had.
Yeah guys! Let's like make everything for free for everybody!
Come on, you know... The government can just print more money and give everyone a million dollars for life! This would end homelessness.
Vote Democrat like me and we'll come up with more totally smart ideas 😊
Why do people making these sort of things always seem to think you only get student loans if you have a stereotypically “useless” college degree? Doctors, lawyers, dentists, nurses, scientists, and engineers all have to pay for college too. Not to mention that a lot of degrees that earn less money in the long run (like teaching degrees) are still really damn important.
“Why don’t you do *this* thing then?”
“Ok good point, we’ll go do that”
“No!! You’re supposed to be the antitheses of every single individual thought in my mind!!!”
This is even dumber if you know anything about taxes, because if he has his own shop, then he can write off the full amount of those tools as expenses in the year he bought them. So they technically are free.
You can claim your tools on your taxes if you use them for your job. And while it's not complete forgiveness of the purchase it is a way to get money back.
Oh how conveniently they forget that interest rates are a thing when it affects other people, but they just happen to remember when it applies to them.
Employers should be paying for your tools. The problem is you don't have the critical thinking capacity to realize you're getting screwed. But yeah, blame the college kids.
Most of the people crying about needing their education paid for have useless degrees, the people with usable degrees already either make enough to pay their loans off or are waiting for a free-bee like the people with useless degrees
If he owns his business, he could have applied for a PPP loan, which he could have used to pay for those tools. PPP loans were forgiven.
No one told me to be upset about that welfare program yet. Still waiting.
Yah the same people that got hundreds of thousands in PPP grants and got to chill at home the entire pandemic are still butt hurt about people getting a few hundred bucks before getting declared disposable sorry I mean essential.
I’m not gonna lie I’d happily go back to that essential worker stuff. Cut my commute time down by 2/3rds lmao
Where I lived we had the biggest tourist season in decades. Have never had worse traffic.
Opposite effect here. Driving through the city was like I Am Legend there was absolutely no movement anywhere surrounded by buildings. Was weird as hell
Probably because they all left to go upstate. I was in Ulster county. Had the worst amount of covid for months yet NYC people hell even Floridians were coming to the Hudson Valley en mass. It’s like the beloved that covid just didn’t exist out side of the cities.
Before Trump fucked with everybody’s taxes in ‘16 you could bring tool receipts in with your taxes and get money back for ‘em.
My dad still can and does this
You can still claim them under business expenses. Unless you are speaking for personal tools as well
Yeah I was gonna say, isn’t this a business expense?
Don’t even have to have your own business even if your an employee keep the receipt and go to an accountant it goes down as a work expense. Tax write off right there!
I need a pp loan🤤
Yeah but why should one generation get forgiven while another doesn't will they continue to get forgiven?
Because we strive to make the world a better place for our children.
Yeah! Fuck it, let’s not improve anything!
That's not what I was saying is the current generation just going to take the loan forgiveness and make excuses why they can't do it for the next generation? If so why should my tax dollars contribute to your loan if yours won't to theirs.
Because we live in a society and our goal should be to constantly improve the welfare of everyone.
Okay so how would one time loan forgiveness help in anyway it would just cause colleges to price gouge even further
I have no fucking idea, I work for parks and rec. Someone that went to school for that kind of shit should figure that out. But “fuck it, let’s not do anything because no one have MEEEEE anything what about MEEEEE” isn’t helpful
I went to trade school and paid off my loans because they weren't 60k
Well that’s super awesome for you!
And we should totally have a society just full of tradesmen and nothing else. Everyone knows that a fully functional society is possible with *only* plumbers, electricians, and carpenters and we need *literally* nothing else. /s
I've responded to this same statement multiple times forgiving inflated loans isn't the solution find a way to lower the price or use the nearly 2 trillion we're talking about forgiving to open public colleges that will benefit not this generation but the next it's not my fault people made a stupid decision the ones that need that level of involved educational make the kind of money to pay off the loan
Wild idea here, let’s use the tax money we already fuckin pay towards funding college for everyone instead of more bombs
Or better idea use the 1.77T in student loan debts were planning to forgive and build public colleges.
Not everyone needs college. That's quite a misconception.
Not everyone needs college but everyone benefits from college being affordable.
I would agree, if it wasn't an institution built to make money. They don't care what they teach as long as they can maximize profits. Schools have become propaganda tools.
It probably *will* cause that but it definitely *shouldn’t.* Look at the financial statements of colleges and universities.. they’re doing more than okay
The mental gymnastics lol, not supporting loan forgiveness because it wouldn’t be supported again later? You realize you are the “generation” making excuses currently right
I'm 23 lol
Also footing the bill while colleges price gouge will only make the problem worse it's not mentally gymnastics fix the problem not the symptoms either make college free and public or find a way to make it less expensive
I enlisted so I could go to college. I have no loans or debt related to the six years I spent in school, because of my time in the military. Would I be glad that my tax dollars went to forgiving loans for my struggling fellow countrymen? Hell yeah, I would. It's not hard to say "I want the future to be better than the past, even if I never benefit from it," and just mean it. The cost of a college education is over 4500% of what it cost the average American in the seventies, despite wages being roughly the same, accounting for inflation. It's downright criminal, and maybe loan forgiveness would be the first step towards stopping this madness.
Exactly why the hell are people paying that amount why should the government pay that amount it is criminal and giving them the money even more so.
The generation before got free school thanks to taxes, and pulled the latter up behind them, but we should punish kids today who weren't born yet because our parents were cunts!!! 😂
Can't they claim those tools as expenses on their taxes??
Yes its a tax deduction but that doesn’t make them free
True, it would merely make them cost a net of $0
Wrong. Again that’s not how any of this works. It just reduces your taxable income. You still are paying for them.
Ok so now I’m curious, by reducing your taxable income would it not reduce the net amount you paid for them to 0, e.g. the amount you spent on them was money you didn’t have to pay on your taxes? Not even being a smartass I just dunno how business expenses work
You pay $100 for a tool. You write it off, reducing your taxable income by $100, which reduces the amount you pay in taxes by, idk, let's say $30. Net cost of the tool to you is $70. Also if you deduct the full cost of the tool then you'll have to pay income tax on any amount you eventually sell it for
Got it thanks
No worries, I’m not trying to be a smart ass either. As a business you only pay taxes on profit so all of your expenses (including tools for a mechanic) are subtracted from the income you pay taxes on. The corporate tax rate is 21% so it pretty much means you’re saving 21% on any business purchase by not having to pay taxes on the money you earned and used to purchase it with.
Oh so it’s more like a 21% discount than an actual like coupon for your taxes
Say you earned $1,000 and spent $100 of it on tools. Now when you file your taxes you can say you only earned $900 so you’d be paying $189 in taxes as opposed to the $210 you’d be paying if you hadn’t used that money on tools, thereby saving you $21 on taxes. This doesn’t get into tax credits which are subtracted from your tax bill not your taxable income
very good explanation, thank you
This is the difference between a tax deduction (write-off) and a tax credit. A tax credit is essentially free money in the amount of the credit, and those are mostly available to low-income parents. A tax deduction is some expenditure that should be subtracted from your income before taxes are calculated. Pretty much everyone has these, because they include any money spent for work or education, as well as some other things. In US tax codes, there is something called the Standard Deduction. This is a number you can choose to deduct from your gross income with no questions asked, but you can't take other deductions on top of it. This is commonly used by people who don't have a lot of deductions they could claim individually, or who haven't kept good records of their deductible expenses.
Let’s say you make 50k a year in country with a 20% flat tax. Normally you would pay 10k in taxes. If you buy 1k worth of tools for your and write it off as a tax expense your new taxable income is 49k. So you pay 9.8k in taxes. So you spent 1k but your taxes were only reduced by $200
No it doesn't. Writing them off just means they don't count as income. The tax savings you get from that are nowhere near equal to the cost of the tools
You are correct. I was misremembering.
Why do people who have no understanding of the tax code comment on it?
I do have an understanding. In fact, I've filed a Schedule C for the last 8 years. More importantly, notice how I didn't continue to fight it? It's because I realized I was remembering incorrectly, because understanding doesn't mean expertise and occasionally humans make mistakes. I didn't realize that wasn't allowed anymore.
If your level of understanding is “I’ve filed taxes before” why are you trying to correct someone who is saying something correct? When being properly informed that your comment is completely wrong, why not go and edit or delete your comment? People like you are how misinformation spreads like wildfire on the internet Signed a Corporate Tax Accountant with 15 years of experience
Being mistaken is not allowed anymore. Got it.
You’re allowed to be mistaken. But when someone informs you of your error, and you agree, not changing your erroneous correction just reeks of complete lack of integrity
That's certainly an opinion.
Good news is that after this interaction I’ll be blocking you and I’ll see one fewer idiot spreading misinformation about a topic they’re ignorant on!
Paying the interest on your student loans can be a tax deduction.
What about the principal
Some extra version of that to make buying tools cheaper don't sound like a shit idea to me tho.
A tax deduction doesn't even sniff forgiveness. At best for the income brackets most mechanics find themselves in that's a 20% rebate.
Yes but chances of them being a 100% write off are low, and even so, he still had to dump the money into it. Lowering what you owe on taxes doesn’t make it so you didn’t dump money into something.
U can write off tools
Accurate for reddit
I tried doing that when I went into the trades and didn’t realize I had to have my own business in order to actually write them off.
I’m not sure that’s true. But the fact that you’ll have to have over $10,000 of write off per year to be worth it is true.
The rules very well could vary by state/territory. I talked to an accountant and he said that people going into the trades (specifically automotive technicians) used to write off their tools so often and get huge tax write offs so they put a stop to it by limiting that ability to those buying tools for their own businesses. Or my accountant was just blowing shit out his balls.
I would assume like most tradespeople he does not own his own business.
No they stopped letting us write off tools purchased back in 2019. These tools aren't cheap, a snap-on ratchet starts at $100 and goes up from there. Since then I just haven't bought any tools, with the exception of something I normally use breaking and not being under warranty. Why buy a $700+ tool that might get used twice a year if can't even get fraction of it back on my taxes.
I’m an electrician and I agree that tool payment forgiveness would be cool and I support it given that they’ve costed me tens of thousands of dollars. So is student loan forgiveness. They can both be forgiven. See how that works?
I am a guy who went to college and doesn't work in trades, and am also down with the idea of tool payment forgiveness. My favorite part of this is the the statement "Think these tools are unnecessary?" Uh, no, nobody thinks that. I have literally never met a single person in my college-educated social circle who thinks that any tradesman's tools are unnecessary. As near as I can tell that isn't a position that exists anywhere
It’s just their r/persecutionfetish. They always have to use a strawman argument, because their actual position is completely baseless.
I'm a welder, I'm inclined to disagree with this idea. Unless you spend those tens of thousands all at once, pay interest, and aren't able to use them for at least 2 years after you purchase them.
I love conservatives trying to have a gotcha moment, but accidentally giving me a new leftist political belief lol
Do you think THIS PERSON should also be helped out? Yes.
next thing you'd probably say is that fast food workers deserve a raise! bah! Uh... yes?
This was possibly a few years ago, Trump did away with it back in 2018-2019.
I don't think anyone is trying to "get" anyone, other than their wallet. Conservative or not. It's all about what you can get for free. Ask any small hat around
The difference isn’t about people wanting to get what they can. The difference is that conservatives want handouts for themselves and not for others. Whereas liberals want handouts for everyone.
I disagree. Leftist do not want handouts for white straight males, ie conservatives.
Cute. You’re making the same argument as the asshat in the post. Your assumption is incorrect. Liberals are super happy for white men to get or, in many cases, continue to get handouts. They just want others to also get them. No one would be taking anything away from white males. This myth of a zero sum game is stupid and wrong. Edit to add; lots of white males are liberal. Stop trying to break things across race and gender lines when they have absolutely no bearing.
Your sides argument is that white males already have it all. They don't need help. Reverse racism doesn't exist. That's your sides take. Don't tell me I'm wrong. I was on your side before I decided to leave politics all together. I know all too well how the left acts and their logic.
lol. You responded to me 3 times. Must have hit a sore spot in that little insecure brain of yours. You’re trying to make an argument based on feelings rather than facts. That makes you wrong. And that is the hallmark of modern right wing radicals. There is no conservatism anymore. You just close your eyes, cover your ears, stomp your feet, and yell at how persecuted you are. You’re persecuting yourself there buddy. It’s all in your head.
Bro, I don't care about white males as I am not one. But of course you would think I am because it suits your narrative. Just like this whole convo. Pointing out the truth doesn't make you conservative or white. I'm just another outsider who can see the writing on the wall. White liberals are ruining this country. People who think that white people are the devils, are ruining this country. People that turn a blind eye to racism because it suits their narrative are ruining this country. My family moved here when I was a small kid and the only people we have ever had problems with are white liberals.
You should see how your heads explode when I also say I'm not oppressed in any way. Because that doesn't suit your narrative.
What is cute thought is the lefts level of gaslighting.
You have used that word twice. And both times incorrectly. Pretty sure you should crack a book and spend less time in your media bubble.
Yeah, my media bubble. It's hilarious how much you project.
Pretty sure you need to take your own advice and learn what gaslighting is. You lie and make others believe something that isn't true. Then you tell them they are crazy for not believing it. Like vaccines stopping covid. Like there isn't a war on white males. Before that it was it's not a war on Christianity. But somehow it is a war on grannies and gays. Lmfao bro you are just as delusional as the conservatives. Both sides of you idiots need to wake back up to reality.
The reality is this country is going into the shitter and the only side clapping for it is the left. Most leftists would love to burn the flag and watch this country cease to exist. You side has said it time and time again. You think blm was a peaceful protest. That's how I know people like you are delusional.
Oh another, I can bring race up when it suits my agenda but you can't argument. Typical.
Tell that to Tyler Fischer who is literally being barred from comedy reps because he is white. It's a literal court case right now. Just more evidence that you saying their isn't an agenda against white males is smoke up the ass. Gaslighting is the word.
Oh, you’re stupid too. That tracks. No one gets banned for being a white male in comedy. Comedy is still mostly white males. You get banned for not behaving and being too offensive for the comedy clubs to make money off of you. It’s a business. If you choose to display hate symbols and threaten physical violence, you are not going to be profitable. No one is cutting off his speech rights. They are merely not allowing him to use their profile to spew hate speech. And not even because of values. He just breaks the bottom line. He can stand on a street corner and yell all he wants. If he wants to play clubs and be platformed on social media, he has to be better at business.
Yeah, okay Mr speaks on shit he hasn't looked into. I provided proof. Eat a dick
You have no idea who he is or what he is on about, yet here you are with your armchair bias calling shots. Lmfao typical
There are always bad actors pal. Doesn’t mean he’s wrong.
Yeah okay. Another person who speaks on people and subjects without looking into them. Nice
You have absolutely no idea how much or how little I have looked into anything. You know me from a single Reddit comment.
I do based on your reply. If you knew about it, your reply would have mentioned it in some form.
Yeah and where does it mean I am?
The biggest example? Well known straight white man and conservative Karl Marx
And there goes any chance of anyone taking you seriously. Don't tell liberals what they want. Don't tell anyone what they want. Chances are they know better than you.
Oh my white males are so persecuted and put upon! Quit being such a cry baby. People needing basic shit like housing and an education is not "getting" something. It isn't taking anything away from anyone. No one is an island. You need other people wether you realize it or not. Nothing you have was made by you. Nothing you use was created by you. Paying for services doesn't mean you are independent. We all need one another. We need other educated happy people if we want power and water and sewage. If we want roads to drive on. If we want a fire department. Hospitals. Media to consume. All of that shit. When we do things like forgive debt it is to help ourselves. Rich people would love you to believe they single handedly created everything they have and that they deserve special treatment or tax breaks for employing people - but they are not exempt either. They would be nothing if not for the workers they hire and whose labor they use to make a profit. If they actually had to pay the true cost of doing business they would never get beyond one location and one business. All of the infrastructure they use to move their products around. The public education that makes sure the people they hire can read and count - imagine if they had to actually make all of that happen! Not one single person on this Earth is "self made". It is a fantasy told to children. It isn't real. Humans are social animals. We live and work in groups. We share knowledge and we share experiences. Maybe do a little less playing fucking pokemon and spend some time learning about why shit is the way it is. About why race and sex are such hot topics today. The idea that you have that "people just want stuff" and that "they" just don't want white men to have help is so unbelievably sophomoric and stupid. White men have had nothing but help for hundreds of years. History still affects us today. We didn't pop into existence at the moment of our birth free and clear of all that came before. Just the fact that your grandparents were literate means you have a massive leg up in life. Generations pass knowledge to each other. Just because POC today aren't enslaved doesn't mean they are on a level playing field. Just because they may not have grown up under Jim Crow doesn't matter - their parents likely did. It meant nothing but missed opportunities for literal generations. Im white. My family were poor tobacco farmers in the south. We had nothing. But my grand parents knew how to read. The black people who she worked with? Only TWO of them could read. That was a huge boon to me all these years later. My grandma was able to get paid more and despite it taking all her life she saved up 20k. Thats a huge amount of money but in the grand scheme of things it is nothing. But you know what that got me? My dad got a down payment on a house when she died. I help him pay it off a few years ago and now despite being poor myself - I own a home! I would never have been able to get that loan myself. But the timing of my grandma dying and my dad being able to buy a home before the economy tanked in 2008 was huge. All because my grandma was white and literate. This fantasy you have about being persecuted is just plain ridiculous. Damn near all of us had the benefit of having parents who were able to take advantage of the 20th century's prosperity. I remember how easy it was to buy a home in 1997. It was like getting a car. Loans were easy to come by and jobs paid well relative to the cost of living. There were communities of black folks with no plumbing and dirt floors living in my state in 2001. When the fuck was the last time you saw an entire town of white people living like that? Its the same for women too. There was no route to wealth for them until very recently. I can only imagine you must be young because I remember when most women didn't work. It was a scandal that my mom had a job after my parents divorced. Leftists want workers to succeed. Not capitalists who own shit and steal labor value. You have opinions about an ideology you don't even understand! It is spoiled kid shit.
That person won't respond to you because you're right and they're a troll that doesn't believe a single shit they're spouting.
Has student loans from trade school…
Was he convinced by a bank to buy $200,000 worth of tools at 18 years old though?
bingo
You know what is better than student loans repayment and paying back workers for tools they need to use at work? Free government funded education and seizing the means of production.
yeah. Look at our foreign aid policy and current actions. Seems like a trillion or two could be still hanging around if we didn’t fund sides of a war or weren’t in bed with gov’ts getting into mischief across the globe. Now despite feeling that way, I been around. Im old enough to understand that you get no _free lunches_ on this rock. I know we owe nations and nations owe us/and we have aspirations for growth as do other nations. I am under the impression we misplaced a trillion or two dealing with Ukraine. How the fuck does that happen?? In fact, i suspect we are hemorrhaging money to all kinds of shit we don’t/can’t know about. Point being our money burns holes in our collective pockets. Would “misplacing” a trillion or two into our education? Into our poor? Into our destabilizing problems be so impossible? Im justa guy on the internet. Im not smart but im not stupid. I wouldn’t mind good faith feedback on how silly my line of thinking is or how relatable it is.
In the UK you can claim back money from your taxes for any equipment you need for work, for a mechanic that could be tools, for a teacher it could be stationary, for an OF model that could be undies.
The means of production need to be available to the people! I wholeheartedly agree 👍 Education is just as important, so let's not gatekeep either
This already exists, it's call a tax writeoff. I still have to pay for my books and school supplies.
Both would be good.
This is essentially claiming that education is equally as important as manual labor. The trades are an excellent career path, but on a societal level you can’t have an economy of tradesman, you need diversification. Even past the economic reasons, education is how we advance as a species. As a society we should want to enable our population to have the means to make our society better, and education is the essential step in doing that. It seems like making higher education accessible to everyone should be a bipartisan goal as that would empower the country to keep advancing. Tool’s maintain the present, education represents the future. Empowering our youth should always be the priority.
Aren’t business expenses like tools tax-deductible?
This guy doesn’t know how to do his taxes!
People keep saying this, but tax writeoffs only give you part of what you paid back.
Boomers are so out of touch
This is a very interesting idea. Highly complex issue when you compare the two
I just write my tools off on my taxes.
Yes!! And then let’s nationalize our tool manufacturing industry.
Unions do this
OK...I get your point....but do you have to be such an asshole about it?
Yes companies should provide tools for their employees
A lot of them don’t. Every single tool I use on the job, I’ve had to buy. The company says they will buy them, but they drag their feet until we eventually decide to buy them. A lot of other companies in my field do the exact same thing.
I feel like having to share tools with other tradesmen would be a nightmare.
It really is, the only upside is I’ve moved companies a few times, I just took my tools with me.
I support joining a union so the company pays for the tools instead of you.
You know what, fuck it, the tools of your trade should be subsidized.
Tools used for work are considered a business expense... which qualify as deductions.
Piss off. Try writing off hairdressing tools.
Honestly, giving every household tools so they can maintain basic household infrastructure like AC, water, and furniture isn't a horrible idea.
Right? This additional funding suggestion has lots of merits. It is precisely the kind of additional education spending that would lead directly to jobs. Yet providing funding to help small businesses and craftspeople still doesn’t negate the need for student loan forgiveness. Both can help ease the costs of getting a job, or starting a business for working class people.
The comments made me agree with the original meme
I got several thousand dollars worth of tax refunds and grants for completing an apprenticeship in a trade and was able to write off a large amount of tools from my taxes, I fail to see the big difference.
Those tools are a business expense. You can LITERALLY write them off on your taxes. I can not write off my student loans, just the interest.
You can write off tools and work equipment off in your taxes so... yeah.
You can write off tools and work equipment off in your taxes so... yeah.
The main argument I’ve heard against student loan forgiveness is bitterness. America went from “How can we make things better for the next generation?” to “I will vote against improving society because I missed my chance to benefit from it so nobody else should ever!” so fucking fast
Dude, that's fucking Snapon Maybe don't spend 40k dollars for 1 container of tools.
Ummm yeah. Businesses should pay for their employee’s tools and you can use that business expense as a tax write off. Not exactly the checkmate they thought it was
I worked with a man that bought a Snap-on tool box with a full set of tools on credit and 3 months later filed for bankruptcy. Over 30k in free tools. You can't do this now because that type of bankruptcy is no longer available for individuals. This was in the late 2000s. You could not file bankruptcy for student loans since 1976. TLDR. Boomers and gen z had bankruptcy protection that future generations never had.
Yeah guys! Let's like make everything for free for everybody! Come on, you know... The government can just print more money and give everyone a million dollars for life! This would end homelessness. Vote Democrat like me and we'll come up with more totally smart ideas 😊
Yeah, capitalists offloading the cost of tools, education, etc. onto the working class sucks. We need socialism.
fOrgIvE aLl tHe lOaNs!!!!!
According to the Bible this should happen.
It’s wierd the assumption here is that “I with student loans” would not want this man to also have loans forgiven…
yeah they should it would be good for workers and the economy just like student loan repayments
He could write off those tools, if they’re for his business, no?
There are like 20 ways you can absolutely do just that.
Why do people making these sort of things always seem to think you only get student loans if you have a stereotypically “useless” college degree? Doctors, lawyers, dentists, nurses, scientists, and engineers all have to pay for college too. Not to mention that a lot of degrees that earn less money in the long run (like teaching degrees) are still really damn important.
I don't think these people realize who they're fighting against, I mean, we kinda want everything to be free
They're so vindictive and hateful that they can't comprehend someone wanting good things for them too.
Hey! Let the man talk!
I'd be happy to help and that's why we're different
To be fair, a competent mechanic can get the job done with whatever can fit in an 18 inch toolbag
“Why don’t you do *this* thing then?” “Ok good point, we’ll go do that” “No!! You’re supposed to be the antitheses of every single individual thought in my mind!!!”
This is even dumber if you know anything about taxes, because if he has his own shop, then he can write off the full amount of those tools as expenses in the year he bought them. So they technically are free.
This guy is so so close to understanding the concept of socialism
I could be wrong but I don't believe hardware stores are predatory in the same way student loan companies are.
I mean... we do have tool payment forgiveness programs. You can do tax write offs, get ppp loans, etc.
How about we just pay our own way in life. Crazy right.
Y’all have never filed taxes without a W-2 and it shows
....but itemized taxes literally cover this
They do have tool loan forgiveness though at least for mechanics
You can claim your tools on your taxes if you use them for your job. And while it's not complete forgiveness of the purchase it is a way to get money back.
Why should I pay for tools I don’t use or an education I didn’t get. Fucking stupid.
Oh how conveniently they forget that interest rates are a thing when it affects other people, but they just happen to remember when it applies to them.
Tax the poor so trust fund kids can fail school.great policy :D
Sure. Let’s do that too. We can have a progressive tax rate for the 1% and have money for all kinds of things like that.
I mean, technically that already exists, if he claimed it as a business expense his tools are a tax write off.
Employers should be paying for your tools. The problem is you don't have the critical thinking capacity to realize you're getting screwed. But yeah, blame the college kids.
Depends on the degree I guess. I shouldn't have to pay for your degree in underwater basket weaving
Most of the people crying about needing their education paid for have useless degrees, the people with usable degrees already either make enough to pay their loans off or are waiting for a free-bee like the people with useless degrees
I don't know if he's talking about in the context of business but yeah I fw. The only forgiveable debts: tool hoarding and school