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Old 12-20-2017, 01:36 PM   #126
 
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Why does that one show i'll be paying 5k in taxes?
How much did you pay last year?
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Old 12-20-2017, 01:38 PM   #127
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ohh im taking it as paying 5k more. this might be a good thing
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Old 12-20-2017, 01:42 PM   #128
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I'm trying my damndest to find out who's going to pay MORE.

Hint: It's anyone over $500k or who already lives in a high tax shithole.
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Old 12-20-2017, 01:42 PM   #129
 
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Poor @Eagle
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Old 12-20-2017, 01:43 PM   #130
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I'm trying my damndest to find out who's going to pay MORE.

Hint: It's anyone over $500k or who already lives in a high tax shithole.
people who have more than 10k in property taxes also i think.
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Old 12-20-2017, 01:44 PM   #131
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Almost every itemized bracket, regardless of single, joint, HH, or kids seemed to be paying less taxes. Unless of course, high tax shithole.
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Old 12-20-2017, 01:49 PM   #132
 
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Why does that one show i'll be paying 5k in taxes?
That is your total tax you pay. Not the amount of return because you overpaid on your taxes all year when getting your paychecks.
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Old 12-20-2017, 01:55 PM   #133
 
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people who have more than 10k in property taxes also i think.
State taxes + Income taxes = more than 10k for me. So not the happiest about that.
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Old 12-20-2017, 01:58 PM   #134
 
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State taxes + Income taxes = more than 10k for me. So not the happiest about that.
So are mine. But are your state taxes + income taxes + donations + mortgage interest more than $24k ($12 if single)?

I have to look what I paid in state income taxes this year, but $24k standard deduction is pretty high...
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Old 12-20-2017, 02:13 PM   #135
 
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Poor @Eagle
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Old 12-20-2017, 02:22 PM   #136
 
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@Bruce Jibbo is gonna pay! Aren't his property taxes like $25k?
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Old 12-20-2017, 02:25 PM   #137
 
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He's just going to be looking to get the hell out of dodge sooner rather than later.

Those taxes are flat out absurd.

Maybe some of these people will now start beating on their towns and states to try to get their taxes down instead of writing them off...
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Old 12-20-2017, 02:30 PM   #138
 
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So are mine. But are your state taxes + income taxes + donations + mortgage interest more than $24k ($12 if single)?

I have to look what I paid in state income taxes this year, but $24k standard deduction is pretty high...
Short answer is yes. I filed single and for a lot more then 12k. Plus the cap on income tax/property tax at 10k.

If I file jointly this year it is basically a wash from how it would have been if I filed jointly for 2016. DINK's pretty much stay flat under this if you itemized a lot. The expanded child credit is what is probably causing people to come up with much more favorable numbers.
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Old 12-20-2017, 02:38 PM   #139
 
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Is anyone thinking about prepaying your property taxes? I have to run the math, but might make sense...
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Old 12-20-2017, 03:03 PM   #140
 
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Isn't the prepay option only beneficial if you have high property taxes?
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Old 12-20-2017, 03:11 PM   #141
 
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Originally Posted by Ryan02Stang View Post
Is anyone thinking about prepaying your property taxes? I have to run the math, but might make sense...
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Isn't the prepay option only beneficial if you have high property taxes?
What's the incentive for paying early?
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Old 12-20-2017, 03:11 PM   #142
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Figures.. But no surprise.

CNN Tax Calculator Proves CNN is Lying About The Trump Tax Plan | BluePillSheep.com The Latest Political News
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Old 12-20-2017, 03:11 PM   #143
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Poor @Eagle
I wish!
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Old 12-20-2017, 03:18 PM   #144
 
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Isn't the prepay option only beneficial if you have high property taxes?
Or if you are going from itemized to standard I would think.

For 2017 taxes I'll itemize (rough numbers); $7k property taxes, $8k state income taxes, $5k mortgage interest, $2k charitable donations.

This puts me at a $22k itemized deduction for 2017. If I pre-pay my first half 2018 property taxes in 2017 I can add $3.5k to my 2017 deduction bringing me to $25.5k.

Next year I take the standard deduction at $24k.

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What's the incentive for paying early?
Larger deduction on my 2017 tax return without impacting my 2018 tax return.
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Old 12-20-2017, 03:22 PM   #145
 
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Yeah, they had a generic one and then I believe they update the one on page four to reflect the new plan....

Get's tiring when they all say people are going to DIE over the plan, but yet it's not that the middle class won't see a tax break, it's that those that make more might see more money back...
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Old 12-20-2017, 04:07 PM   #146
 
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https://www.cnbc.com/2017/12/20/fift...l-passage.html

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Fifth Third Bancorp will pay more than 13,500 employees a bonus and raise the minimum wage of its workforce to $15 an hour after the passage of the Republican tax plan that will cut the bank's corporate tax rate.

Fifth Third is yet another company to announce a bonus for employees because of the tax plan. AT&T said earlier Wednesday that it would pay more than 200,000 U.S. employees $1,000 each and increase its capital spending budget by $1 billion.

Wells Fargo, meanwhile, also said it would be boosting its minimum wage for employees to $15 an hour, which was prompted by the tax plan. The San Francisco-based bank also said it would target $400 million in donations to community and nonprofit organizations next year.
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Old 12-20-2017, 04:30 PM   #147
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You guys know how I feel about Trump...I hope this new tax bill positively affects my family. IMHO, first time he has done something good for "We, the people". I don't care if the rich get the most, that was expected of them greedy bastards. In 14 months we will find out when we do our taxes for 2018.
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Old 12-20-2017, 04:40 PM   #148
 
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Yep, two more evil corporations:



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Old 12-20-2017, 04:44 PM   #149
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You guys know how I feel about Trump...I hope this new tax bill positively affects my family. IMHO, first time he has done something good for "We, the people". I don't care if the rich get the most, that was expected of them greedy bastards. In 14 months we will find out when we do our taxes for 2018.
I'm glad you're not blindly saying this is bad for everyone just because President Trump is behind it.
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Old 12-20-2017, 06:05 PM   #150
 
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Comcast Announces Special Holiday Bonus and Capital Investments

Comcast giving bonuses now too and will invest 50 billion in infrastructure in the next five years.

If these come through and more companies follow suit, the "sky is falling" people on the left are going to look really bad for not going along with this bill.
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