Did the Presidents tax reform help you?

Hank77 · Feb 3, 2019

hislegacy said:
Yup.

How much do you make that you have more than 24,000 in deductions?

I don't have more than 24,000 in itemized deductions, that's why my family will be taking the 24,000 standard deduction.
You said you itemized, so you had more than 24,000 in itemized deductions.

Innsmuthbride · Feb 3, 2019

ThatRobGuy · Feb 3, 2019

hislegacy said:
Simple question. Did your taxes go up, or down. What was the difference between last yea and this one.

Personally mine went down

I make 51,000 a year and the difference between last year and this year is 1,670.00 plus no penalty 800.00 for not being able to afford healthcare.

Well, the penalty going away should be a separate conversation from the tax rate changes.

That being said, yes, I did benefit from the tax reforms...however, I'm the kind of person who that was designed to benefit. Six-figure earners who the GOP assume will vote for them to keep taxes low.

IE: I'm the kind of person the GOP thinks they can buy with tax breaks.

A_Thinker · Feb 3, 2019

hislegacy said:
Simple question. Did your taxes go up, or down. What was the difference between last yea and this one.

Personally mine went down

I make 51,000 a year and the difference between last year and this year is 1,670.00 plus no penalty 800.00 for not being able to afford healthcare.

That means my family saw a 2,470.00 benefit from the tax plan.

I seriously think that the more and more middle class families see their taxes go down, it will be an influence on who to vote for.

Personally, I don’t want to lose that much money voting a Democratic person into office. Ever

Also, in anticipation of many paying less tax, withholding was decreased, so that I have to actually write a check to the IRS for the first time in 40 years of working ...

hislegacy · Feb 3, 2019

A_Thinker said:
Also, in anticipation of many paying less tax, withholding was decreased, so that I have to actually write a check to the IRS for the first time in 40 years of working ...

m

Then your payroll department made a mistake. You can adjust that easily. Just adjust the deductions.

hislegacy · Feb 3, 2019

ThatRobGuy said:
Well, the penalty going away should be a separate conversation from the tax rate changes.

That being said, yes, I did benefit from the tax reforms...however, I'm the kind of person who that was designed to benefit. Six-figure earners who the GOP assume will vote for them to keep taxes low.

IE: I'm the kind of person the GOP thinks they can buy with tax breaks.

90% of wage earners benefited from the tax plan.

It’s not trying to buy anyone’s vote any more than raising taxes is trying to loose anyone’s vote.

cow451 · Feb 3, 2019

hislegacy said:
Simple question. Did your taxes go up, or down. What was the difference between last yea and this one.

Personally mine went down

I make 51,000 a year and the difference between last year and this year is 1,670.00 plus no penalty 800.00 for not being able to afford healthcare.

That means my family saw a 2,470.00 benefit from the tax plan.

I seriously think that the more and more middle class families see their taxes go down, it will be an influence on who to vote for.

Personally, I don’t want to lose that much money voting a Democratic person into office. Ever

No

A_Thinker · Feb 3, 2019

hislegacy said:
m

Then your payroll department made a mistake. You can adjust that easily. Just adjust the deductions.

My payroll dept. was not the only one. My wife's also. It was the new tax code that mandated the change.

The GAO says 21 percent of taxpayers – or about 30 million people – aren’t withholding enough taxes from their pay this year.
Earlier this year, the IRS and Treasury changed the withholding tables to reflect the new tax law.
You should review your withholding to make sure you’re on track.

hislegacy · Feb 3, 2019

A_Thinker said:
My payroll dept. was not the only one. My wife's also. It was the new tax code that mandated the change.

The GAO says 21 percent of taxpayers – or about 30 million people – aren’t withholding enough taxes from their pay this year.

Earlier this year, the IRS and Treasury changed the withholding tables to reflect the new tax law.

You should review your withholding to make sure you’re on track.

It’s one of the reasons why I didn’t allow any changes.

hislegacy · Feb 3, 2019

cow451 said:
No

Unique response to the question if your taxes went up or down.

ml5363 · Feb 3, 2019

hislegacy said:
Simple question. Did your taxes go up, or down. What was the difference between last yea and this one.

Personally mine went down

I make 51,000 a year and the difference between last year and this year is 1,670.00 plus no penalty 800.00 for not being able to afford healthcare.

That means my family saw a 2,470.00 benefit from the tax plan.

I seriously think that the more and more middle class families see their taxes go down, it will be an influence on who to vote for.

Personally, I don’t want to lose that much money voting a Democratic person into office. Ever

I will receive an extra 300 dollars this year on return.made about 1000 dollars more this year...and did not have to enter expenses

ml5363 · Feb 3, 2019

JacobKStarkey said:
Good conversation.

In 2020, the Dems will sweep government, keep the tax credits for the middle class and poor while making them permanent, and at the same time, rolling back the tax credits for the rich and increasing them to a high of 55%.

And the economy will go bleh...when rich folks or business have less money, they make fewer folks do more work...so hurts jobs..

kkamagwi · Feb 3, 2019

hislegacy said:
Simple question. Did your taxes go up, or down. What was the difference between last yea and this one.

Personally mine went down

I make 51,000 a year and the difference between last year and this year is 1,670.00 plus no penalty 800.00 for not being able to afford healthcare.

That means my family saw a 2,470.00 benefit from the tax plan.

I seriously think that the more and more middle class families see their taxes go down, it will be an influence on who to vote for.

Personally, I don’t want to lose that much money voting a Democratic person into office. Ever

It neither helped me nor harmed me.

jayem · Feb 3, 2019

hislegacy said:
Simple question. Did your taxes go up, or down. What was the difference between last yea and this one.

Personally mine went down

I make 51,000 a year and the difference between last year and this year is 1,670.00 plus no penalty 800.00 for not being able to afford healthcare.

That means my family saw a 2,470.00 benefit from the tax plan.

I seriously think that the more and more middle class families see their taxes go down, it will be an influence on who to vote for.

Personally, I don’t want to lose that much money voting a Democratic person into office. Ever

Manage your tax savings wisely. Your tax cuts will expire in 2025. The corporate cuts--like for Amazon, and Apple, and Disney, and Comcast (which owns NBC-Universal,) and the Trump Organization, and all the Fortune 500--are permanent.

hislegacy · Feb 3, 2019

jayem said:
Manage your tax savings wisely. Your tax cuts will expire in 2025. The corporate cuts--like for Amazon, and Apple, and Disney, and Comcast (which owns NBC-Universal,) and the Trump Organization, and all the Fortune 500--are permanent.

Not if the Democrats have their way or return to power.

jayem · Feb 3, 2019

hislegacy said:
Not if the Democrats have their way or return to power.

Good point. Though they'll probably keep lower tax rates for middle income earners and raise rates for high earners. They'll also want to lower the threshold for when estate taxes kick in. Although the estate tax break also expires in 2025. And I'm pretty sure the Dems wouldn't renew it.

hislegacy · Feb 4, 2019

jayem said:
Good point. Though they'll probably keep lower tax rates for middle income earners and raise rates for high earners. They'll also want to lower the threshold for when estate taxes kick in. Although the estate tax break also expires in 2025. And I'm pretty sure the Dems wouldn't renew it.

Dems? Be careful, one of my many fans on CF has just told me the Term Dems is insulting.

As for estate taxes. Think about that for a min. I earn money and am taxed on my earnings. I save some of it or invest it and am taxed again on gains. Then when I die and pass on the money, property etc half of it goes to the government.

And that is fair and equitable in some politicians sight.

KCfromNC · Feb 4, 2019

hislegacy said:
Dems? Be careful, one of my many fans on CF has just told me the Term Dems is insulting.

As for estate taxes. Think about that for a min. I earn money and am taxed on my earnings. I save some of it or invest it and am taxed again on gains. Then when I die and pass on the money, property etc half of it goes to the government.

Someone who claims to make $50,000 a year also pretending the estate tax is in any way meaningful to him? Something's not adding up.

JacobKStarkey · Feb 4, 2019

Someone is a propagitbot.

JacobKStarkey · Feb 4, 2019

ml5363 said:
And the economy will go bleh...when rich folks or business have less money, they make fewer folks do more work...so hurts jobs..

Not in the slightest.

Why? The uber rich are not putting their earnings, savings, or excess into the economy ina meaningful way, meaning that it does not hurt jobs.

Did the Presidents tax reform help you?

Well-Known Member

Ia Ia Cthulhu F'tagan

Part of the IT crowd

Well-Known Member

Memories pre 2021

Memories pre 2021

Standing with Ukraine.

Well-Known Member

Memories pre 2021

Memories pre 2021

Well-Known Member

Well-Known Member

Active Member

Naturalist

Memories pre 2021

Naturalist

Memories pre 2021

Regular Member

Well-Known Member

Well-Known Member

Similar threads