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Rico

Taxes under Trump

53 posts in this topic

This is part of the confusion about the Trump tax cuts - unless you made a change in your withholdings you have not seen the effect of the tax cuts.  You need to ask this question in April or October (for those of us that file an extension).  Since many on this board are located in California, the restrictions on the deductibility of SALT will certainly be an adverse effect on many.   

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Pretty much payed $1000 less this year.

Not a big deal.  My argument was always that the majority of the break should have gone to the middle class.  They are the ones who drive the economy

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1 minute ago, mtangelsfan said:

My argument was always that the majority of the break should have gone to the middle class.

Do you think the majority of the break went to the middle class?

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$40k more in income this year and I owed 7k more.

Just wrote my yearly check to the IRS for $5k.  Was hoping for less this year but nope...

My wife and I are on pace to make 75k more this year, maybe that puts us into the right bracket to get all the savings passed in the bill.

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4 minutes ago, nate said:

$40k more in income this year and I owed 7k more.

Just wrote my yearly check to the IRS for $5k.  Was hoping for less this year but nope...

My wife and I are on pace to make 75k more this year, maybe that puts us into the right bracket to get all the savings passed in the bill.

 

Good for you two!  Man ... you guys are killin' it under the Trump economy!

 

 

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