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Post by RobinAnn on Oct 26, 2017 12:23:42 GMT -5
So, this link from MarketWatch came through on Facebook and I took a look. My taxes will remain the same if this scenario is passed. |
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mare
Full Member
Posts: 2,517
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Post by mare on Oct 26, 2017 12:32:40 GMT -5
Looks like we will save 3000.
Sent from my SAMSUNG-SM-G930A using Tapatalk
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Post by junebug on Oct 26, 2017 12:38:17 GMT -5
I think I stay the same.
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Post by Tpatt100 on Oct 26, 2017 12:42:21 GMT -5
Says mine will go up 5000. I must be doing something wrong....
Last year our effective tax rate was 9.87 percent now it would go up to 13 percent.
So my wife’s pay increase went to health care and mine went to the government
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Post by realcranky on Oct 26, 2017 13:16:23 GMT -5
It is murky. We don't itemize and we still claim Sarah as a dependent. We're not eligible for any child tax credit, though, because she's too old. So, we'd lose the personal deductions, right? I was kind of looking forward to my old person deductions kicking in a few years from now, and I don't know whether that would still be around or not.
I can't see how we'll benefit, but it may come out fairly even.
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Post by krisa on Oct 26, 2017 13:47:08 GMT -5
FML..
Standard deduction: $2,580 more than last year
Itemized: $6,030 more than last year
And that would be the rate if we had only made the same. We both got raises this year.
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Post by Sprockey on Oct 26, 2017 14:30:12 GMT -5
I am so OVER it. It's bad enough that the govt takes 30% + right out of our pay & then taxes additionally everything we eat drink or do. On top of that they make you file every year to determine just how much MORE you need to send them! ;-| No wonder people get annoyed by those who are scamming the system or working just barely enough to collect . It's maddening. We learned this the hard way in Nashville last week: We ended up paying 17% in taxes on our drinks. And if you follow my FB page you know how expensive that got  |
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Post by justthinking on Oct 26, 2017 20:15:27 GMT -5
Looks as if we'll pay about 6k more in taxes as our contribution to trump's personal tax cut. I'm excited about that.
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Post by jen on Oct 27, 2017 5:44:26 GMT -5
I didn't realize that in our state businesses pay property tax, too. So the couch and computer and things that I bought for my business are now taxed a second time. Ffs.
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Post by Sprockey on Oct 27, 2017 6:50:50 GMT -5
Gah!!!
It's maddening
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Post by Peanut on Oct 27, 2017 7:36:26 GMT -5
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Post by Tpatt100 on Oct 27, 2017 8:03:54 GMT -5
I want a plaque on the wall with my name on it.
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Post by GiftOfFlavor on Oct 28, 2017 8:51:15 GMT -5
I didn't realize that in our state businesses pay property tax, too. So the couch and computer and things that I bought for my business are now taxed a second time. Ffs. Hahaha try paying it on 6 dental chairs that cost 5 figures apiece, surgical instruments, lab equipment and medical materials) oh and 3 couches for the waiting room. Oh and then I get to pay medical device taxes on that as well! (Not the couches). Oh and then I get to pay regular income tax like everyone else. So I pay my payroll taxes as a worker and as a business owner. And unemployment taxes so the bitch I fired gets some free money as long as she continues to not work. People wonder why healthcare costs are high. I laugh my ass off when someone says "tax redund" lol every year I just find out at tax time how much more I owe and how much my quarterly payments increase. (Right now ON TOP of my regular property taxes for my home and business, personal property taxes for my home and business, income taxes my employees, unemployment taxes, medical device taxes, etc. I pay $7000 quarterly payments.) Half of my day is spent working for the government. |
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Post by Tpatt100 on Oct 28, 2017 8:58:11 GMT -5
Hey that medical device tax is what made The Affordable Tax Act “Affordable”
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