brown_trousers
Well-Known Member
This might sound like a crazy question. But will the union allow me to prepay next years union dues so i can get the itemized deduction for it this year?
You can pay my union duesThis might sound like a crazy question. But will the union allow me to prepay next years union dues so i can get the itemized deduction for it this year?
Will they give you a refund if we go on strike.??This might sound like a crazy question. But will the union allow me to prepay next years union dues so i can get the itemized deduction for it this year?
Will they give you a refund if we go on strike.??
ing Canada!!Uh... hello... Hoffa is president. That question makes no sense.
When the union starting filing on the PVDs I launched a countersuit to get my dues backBack when @FrigidFTSup was PT. He used to pay his union dues 5 years in advance. He worked 4 shifts during peak.
You can pay your dues at any point and the amount taken out is deductible for the year they are paid. You wouldn't have any deduction the next year that way.
I respectfully disagree.
The only thing that you can prepay (fund) in a prior year and be able to write off in that year is your IRA.
I don't think that you would be able to write off prepaid 2018 union dues in 2017; even if you were, the deduction would be minimal. Our dues here are about $1K/year and we get back roughly 25% of that when we file.
I respectfully disagree.
The only thing that you can prepay (fund) in a prior year and be able to write off in that year is your IRA.
I don't think that you would be able to write off prepaid 2018 union dues in 2017; even if you were, the deduction would be minimal. Our dues here are about $1K/year and we get back roughly 25% of that when we file.
While I agree that the deduction is minimal, the Local would take the dues in this year and it would reflect that. You could get a printout of your dues ledger from the Local as a receipt of payment. Let me clear, I don't know why anyone would want to because the benefit is minimal at best. There would be no deductions for the following year either unless that is in the new tax bill that passed Congress, but you could do it.
We’ve been taking the standard deduction for years, not sure how you guys can itemize so much stuff to get above it.
Union dues, uniform maintenance and other unreimbursed job expenses-----I write off about $2K per year.
Charitable donations-----roughly $2.5K/year.
Property taxes and mortgage interest-----roughly $3K or so.
I have no problem beating the standard deduction; however, with that doubling in 2018 (2019 tax return), I will be much better off taking the SD rather than itemizing.
Charities are going to be the big losers as a result of this tax bill.
The idea that multiple children households loose out is generally not true in the final bill. The expanded child tax credit in the final bill solved that...The standard deduction almost doubles from $6350 to $12K.
You lose your personmal exemption of $4050.
So a single person, like myself, it's pretty much a wash.
2017 6350+4050 = $10,400
2018 12K+0 = $12,000
+1,600
Charities will lose out.
Republicans love to say were doubling the standard deduction, but never mention losing the personal exemption. It's going to hurt single parent families and households with multiple children.