Good Monday Morning Patriot Woodworkers! January 27, 2025

[John Morris]

Good Monday morning!

Good Monday morning Patriot Woodworkers! What did you get done over the weekend, and what have you planned for the week ahead! Inquiring minds want to know. Please tell us what's happening in your shops, your life, and any events going on with you. Thank you for being here folks!

 

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Our power went out, sorry for the shortness of this Monday topic. I'm using my cell phone to post. 

Gotta love California, power outages increasing year over year, and so is our taxes!

[Fred W. Hargis Jr]

Got my fed taxes done, that's about it. I'll do the state (which are a PITA) this week. With the weather getting back to somewhat normal, I may get some time in the shop this week.

[Gene Howe]

29 minutes ago, Fred W. Hargis Jr said:

Got my fed taxes done, that's about it. I'll do the state (which are a PITA) this week. With the weather getting back to somewhat normal, I may get some time in the shop this week.

Me to, Fred.  Our tax prep is pretty simple. So, it's quick. 

In the shop, I'm working on a heart shaped flower holder for Phyl's Valentine's gift. Using 1.5" material to be painted red. The holder will be a 1" dia. glass tube. The plan is to cut out the heart's interior leaving an approximate 5/8" wide/thick shell. When finished, the heart will lie on it's side... sorta... with the flower tube inserted through it vertically. 

..

 

[steven newman]

Monday..about says it all....

 

if YOU think you are having a bad Monday....we dropped off one of our Tom Cats at the Vet, this morning.....he is scheduled to get."Clipped"

 

I make just enough each year, that I don't have to file a Tax Form.....

 

Might try to hang that Chisel Case later....have an issue to fix, first......one chisel sits too low in the door rack....will need a "Rest" to place the tip on....

 

Boss has her errands she wants done, today.....

[DuckSoup]

 We have been working on plans for a 2nd floor bath remodel. Worst part is going to be removing a 5'claw foot tub, I'll miss soaking in that & replace it with a 3'x5' walk-in shower. The date on the bottom of the tub is 10/16/1923 the house was built in 1924. We'll do our taxes later this week.

[Larry Buskirk]

Think I got the last of my W2's/1099's/whatever's Saturday so guess I'll be putting "Do the Taxe's" on the "Getter Done" list.

Don't make enough to have to pay income taxes. but I make just enough to have to file to get back what was withheld from my pension checks. 

 

They're going to get it one way or another. 

Refund goes towards property taxes. 

[StaticLV2]

Was a busy weekend with not a lot of time to get out to the shop and do anything useful.
Still working on some Kumiko jigs.

 

[Grandpadave52]

Accomplished required tasks but cold weather with windchill are still a deterrent. Attended youngest grandsons basketball games yesterday afternoon/ evening; team went 2-0 on the day.

 

Supposed to have to decent weather this week. At minimum I would like to get out to sharpen my pocket knife before someone gets severely bruised from it. Need to get my car scheduled for a new set of tires, a bad TPMS sensor replaced, and ATF fluid flush/ change. Still need to get the Mrs. low beam bulb changed. Youngest granddaughter is due back from her 3 week "medical mission internship" in Guatemala late Wednesday; I think she's planning to come home for a few days before her spring semester begins.

 

Finalizing some paperwork today for the trip to Indy tomorrow for my consultation and evaluation appointment with the Urology specialist/surgeon. Hoping for a good outcome. At minimum, hoping for a donut Rx renewal.

[Fred W. Hargis Jr]

Best wishes for your appointment and a good outcome Dave.

[John Morris]

2 hours ago, Larry Buskirk said:

Don't make enough to have to pay income taxes. but I make just enough to have to file to get back what was withheld from my pension checks. 

I wonder. Not that this applies to your circumstance Larry but you reminded me of the possibility of SSI not being taxed in the near future if current administration can swing it. Without getting into the weeds whether it's good or not for the longevity of the SSI system, does anyone have any opinion  regarding if there are no taxes on SSI period, does that mean we would be able to not include the income at all?

So for example, if a pension is 50 grand a year, and SSI is 20 grand a year, would we be able under the proposed new system, say that our income was 50 grand and not 70 grand, and be taxed on that only?

[Larry Buskirk]

3 minutes ago, John Morris said:

I wonder. Not that this applies to your circumstance Larry but you reminded me of the possibility of SSI not being taxed in the near future if current administration can swing it. Without getting into the weeds whether it's good or not for the longevity of the SSI system, does anyone have any opinion  regarding if there are no taxes on SSI period, does that mean we would be able to not include the income at all?

So for example, if a pension is 50 grand a year, and SSI is 20 grand a year, would we be able under the proposed new system, say that our income was 50 grand and not 70 grand, and be taxed on that only?

 

With my pension I make below the Federal amount where our SSI benefits become taxed. My pension basically gets wiped out by the "Standard Deduction" when I file.

Wisconsin does not tax SS income.

 

[John Morris]

1 minute ago, Larry Buskirk said:

Wisconsin does not tax SS income.

Most states don't, but I wonder, in the case where pension and ssi is taxable because the amounts are above the taxable limit, I wonder if they make it law that SSI is not taxable period, does that mean we wouldn't have to include it in our income at all as in my example above. Hmmmm

[Larry Buskirk]

1 minute ago, John Morris said:

Most states don't, but I wonder, in the case where pension and ssi is taxable because the amounts are above the taxable limit, I wonder if they make it law that SSI is not taxable period, does that mean we wouldn't have to include it in our income at all as in my example above. Hmmmm

For now we still have to report it when we file. There's a line for taxable amount of SSI but since the "Standard Deduction" basically wipes out my pension the taxable amount ends up being 0.

[John Morris]

5 minutes ago, Larry Buskirk said:

For now we still have to report it when we file.

Ya, but if it becomes law that it's not taxable at all, even for higher pensioned tax payers, does it have to be included as income, reportable yes, but will it count towards total income.

[Larry Buskirk]

4 minutes ago, John Morris said:

Ya, but if it becomes law that it's not taxable at all, even for higher pensioned tax payers, does it have to be included as income, reportable yes, but will it count towards total income.

 

We'll have to wait and see. 

[John Morris]

1 minute ago, Larry Buskirk said:

 

We'll have to wait and see. 

It'll be interesting for sure. Could be a game changer for many.

[Gerald]

Not too worried about taxes, Uncle can wait and we seniors do not pay in MS. They are even talking about doing away with income tax and using sales tax.

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Got my Insert and turning tool handle finished as you ca see in the turning forum.

 

Not much going on today, Tomorrow going deer hunting with a friend. 

[Fred W. Hargis Jr]

You have it right, John...at least based on how it worked before they starting taxing SSi. Bear in mind this could come out different once the smart work through ti. But most bets seem to be if they pass it you just won't deal with SSI at all on your federal tax forms. The other thing to keep in mind as these folks consider this: the current tax framework expires this year (I think), it was a 5 year setup. So they might extend it, or they might say " hey, I've got a better idea".  What i like about the curent structure is the simplicity of it at least for our household.

[lew]

2 hours ago, Grandpadave52 said:

Finalizing some paperwork today for the trip to Indy tomorrow for my consultation and evaluation appointment with the Urology specialist/surgeon. Hoping for a good outcome. At minimum, hoping for a donut Rx renewal.

Prayers for good news on all fronts!

 

Waiting on tax forms to start the arduous task of doing taxes. Even though I use Turbotax, it's a pain

 

[John Morris]

8 minutes ago, Fred W. Hargis Jr said:

What i like about the curent structure is the simplicity of it at least for our household.

What a cool thing if they included that no tax on SSI with the re-up of the current tax plan.

All the sudden I'm interested in these things! LOL