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Is that Wall Street Journal article on tax plan real? If so it's completely 180
Poast new message in this thread
Date: November 2nd, 2017 11:48 AM Author: Flatulent boiling water The whole thing is great.
See: http://xoxohth.com/thread.php?thread_id=3783214&mc=25&forum_id=2#34586561
Edit: CNBC article: https://www.cnbc.com/2017/11/02/house-republicans-unveil-tax-reform-plan.html |
Date: November 2nd, 2017 11:51 AM Author: twinkling know-it-all parlour boltzmann I'm still LOLing at lawcucks getting pwned
meanwhile, I have a c-corp already in use I can migrate everything into and probably shave 5-10% off
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Date: November 2nd, 2017 11:52 AM Author: Flatulent boiling water law-cucks didn't get owned brother.
Their overall taxes will go down |
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Date: November 2nd, 2017 11:53 AM Author: twinkling know-it-all parlour boltzmann they aren't getting the pass-through benefit so I disagree with this, at least for the higher end lawlers
most lawlers are flat broke so this will benefit them for sure |
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Date: November 2nd, 2017 11:55 AM Author: Flatulent boiling water Associates will all benefit. Fuck partners.
And how are you getting pass through benefit? Did you read the thing on S-corps? They aren't treating people like you as corps and taxing you normal income rate |
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Date: November 2nd, 2017 11:56 AM Author: twinkling know-it-all parlour boltzmann c-corps aren't pass through entities, bro. s-corps are. I'll close my s-corp and migrate everything into my c-corp which has a max 20% rate instead of the current 35% (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587536) |
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Date: November 2nd, 2017 11:56 AM Author: Flatulent boiling water ah C-corp.
Are you going to call everything profit? Your salary will be taxed twice. |
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Date: November 2nd, 2017 11:58 AM Author: twinkling know-it-all parlour boltzmann I don't think that far ahead. that's what my accountant is for ;) (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587555) |
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Date: November 2nd, 2017 4:47 PM Author: Shaky senate partner LMFAO
"won't bother me, I filed a couple pieces of paper with the secretary of state and I'm a tax mitigating masterman, soooooo smart!"
"hey you know your salary gets hit twice and you have to dick around with your dividends and..."
"whoa whoa whoa hey buddy I let the accountants handle the math, ya know?" |
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Date: November 2nd, 2017 11:53 AM Author: flickering nursing home macaca dumb here. what's so great about it? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587494) |
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Date: November 2nd, 2017 11:54 AM Author: Flatulent boiling water Tax brackets are lowered. Keep 401ks. Keep state deductions up to $10k. Keep mortgage interest rate deduction up to $500k worth of loan. Doubled standard deduction. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587506) |
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Date: November 2nd, 2017 11:54 AM Author: flickering nursing home macaca so UMCs not fucked? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587513) |
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Date: November 2nd, 2017 11:55 AM Author: Dead elastic band set what does it do to the death tax? does it repeal the AMT? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587517) |
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Date: November 2nd, 2017 11:55 AM Author: Flatulent boiling water estate tax cap gone in 6 years, exemption doubled for now. AMT gone (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587523) |
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Date: November 2nd, 2017 11:55 AM Author: Dead elastic band set 87654321235676543212345678765432345 (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587528) |
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Date: November 2nd, 2017 11:57 AM Author: Flatulent boiling water yeah the entire thing is completely 180 (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587539) |
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Date: November 2nd, 2017 11:57 AM Author: Dead elastic band set freedom cuckus and blue state House Republicans better not fuck this up (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587546) |
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Date: November 2nd, 2017 11:59 AM Author: Flatulent boiling water I'm not even sure what dems won't like except the state deduction cap (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587568) |
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Date: November 2nd, 2017 4:32 PM Author: galvanic plum market naw everyone likes this (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589792) |
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Date: November 2nd, 2017 11:55 AM Author: floppy dilemma famous landscape painting I read this in Mark Renton's voice. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587530) |
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Date: November 2nd, 2017 1:54 PM Author: cerebral institution candlestick maker (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588597) |
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Date: November 2nd, 2017 12:49 PM Author: Titillating Corn Cake Box Office The article said state and local property tax, not income (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588062) |
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Date: November 2nd, 2017 3:37 PM Author: Glassy slap-happy shrine AMT is rapepwned is the part i'm excited about i am pissed SALT is still in, it's a fucking handout from red states to blue states, fed gov needs to stop subsidizing cali's bs |
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Date: November 2nd, 2017 4:50 PM Author: Shaky senate partner lol, jesus dude
you have a childlike grasp of this stuff |
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Date: November 2nd, 2017 11:57 AM Author: Charcoal friendly grandma national can someone c/p the whole thing? thank. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587545) |
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Date: November 2nd, 2017 11:57 AM Author: Flatulent boiling water https://www.cnbc.com/2017/11/02/house-republicans-unveil-tax-reform-plan.html (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587549) |
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Date: November 2nd, 2017 11:59 AM Author: flickering nursing home macaca We have ~$300K HHI in a high COL state. Wagecucks, mortgage. Does this plan help us? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587566) |
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Date: November 2nd, 2017 12:00 PM Author: Dead elastic band set LOL @ sociopaths who ask what's best for them instead of what's best for America (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587574) |
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Date: November 2nd, 2017 12:01 PM Author: flickering nursing home macaca so does it help me or not? serious q (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587578) |
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Date: November 2nd, 2017 12:02 PM Author: twinkling know-it-all parlour boltzmann UMC W2cucks in million dollar homes are going to get boned and end up paying more. nobody cares about you. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587588) |
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Date: November 2nd, 2017 12:13 PM Author: Flatulent boiling water For a million dollar loan it's only like $6-$7k more a year in taxes for the FIRST year. Get less every year after that (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587671) |
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Date: November 2nd, 2017 5:37 PM Author: spectacular hideous depressive (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590320) |
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Date: November 2nd, 2017 12:47 PM Author: aggressive sexy casino mad cow disease (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588039) |
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Date: November 2nd, 2017 12:01 PM Author: Flatulent boiling water Your income from $90k-$260k is only capped at 25%. The next $40k is at 35%. It should help.
But if you are in a huge state taxes state it will probably hurt a tad |
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Date: November 2nd, 2017 12:16 PM Author: Razzle lodge cuck seems cr DINK with HHI ~330k, i'd have about 43k in deductions under the current system and if a couple of assumptions are correct (e.g. personal exemption disappearing), looks like reasonable worst case under new system is that i owe an additional 1.5-2.5k if i didn't itemize, but i probably would still be able to itemize so knock off another 1k or so from that. NBD |
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Date: November 2nd, 2017 12:18 PM Author: Tantric Razzmatazz Wrinkle Whorehouse No you’re getting fucked. Chances are your mortgage is more than $500k and your SALT deductions are way over $10k. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587725) |
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Date: November 2nd, 2017 12:21 PM Author: flickering nursing home macaca fuck. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587773) |
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Date: November 2nd, 2017 12:25 PM Author: Flatulent boiling water Eh not on $300 income. Depends on his interest payments (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587817) |
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Date: November 2nd, 2017 12:26 PM Author: jet-lagged dragon Also, even though you'll get a slightly lower marginal tax rate, you're losing the $4,000 in personal exemptions you currently get. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587829) |
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Date: November 2nd, 2017 12:29 PM Author: soul-stirring theater So everyone loses the exemptions, but the standard deduction is doubled for poors. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587877) |
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Date: November 2nd, 2017 12:40 PM Author: Tantric Razzmatazz Wrinkle Whorehouse We are getting fucked hardcore. It is like ~$50-60k of deductions going away. Elimination of AMT will help somewhat to soften the blow but not nearly enough. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587981) |
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Date: November 2nd, 2017 12:48 PM Author: Flatulent boiling water It can't be that much. You can still deduct interest for loan amount up to $500.
Thats like $22,000 a year in interest deduction you lose for your first year of loan. Goes down every year after that. |
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Date: November 2nd, 2017 1:18 PM Author: Tantric Razzmatazz Wrinkle Whorehouse I was talking more about state tax deduction. I paid $50k in state taxes last year. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588306) |
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Date: November 2nd, 2017 10:39 PM Author: beady-eyed black woman skinny woman Jfc California (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592468) |
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Date: November 2nd, 2017 1:52 PM Author: boyish cerise crackhouse toaster 180 (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588575) |
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Date: November 2nd, 2017 11:23 PM Author: aromatic kitchen For most high-income wage earners who pay a lot of state and local income taxes, itemized deductions weren't as valuable as they looked. AMT and Pease walked most of it back unless your circumstances were unusual. So this bill is probably closer to neutral for you than you think. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592838) |
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Date: November 2nd, 2017 12:39 PM Author: mentally impaired marketing idea Property values in pricey areas will get raped too. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587971) |
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Date: November 2nd, 2017 12:42 PM Author: Tantric Razzmatazz Wrinkle Whorehouse As much as I’d like for that to be the case, mortgage rates themselves and all cash buyers rather than mortgage interest deduction will keep things inflated. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588002) |
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Date: November 2nd, 2017 5:06 PM Author: Carmine bateful jewess This is a mixed blessing. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590075) |
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Date: November 2nd, 2017 5:09 PM Author: aggressive sexy casino mad cow disease 180 (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590106) |
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Date: November 2nd, 2017 12:59 PM Author: flesh prole roommate only applies to homes purchased after the bill. old homes keep 1mil deduction (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588145) |
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Date: November 2nd, 2017 1:01 PM Author: soul-stirring theater fucking scum boomers. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588153) |
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Date: November 2nd, 2017 5:05 PM Author: Carmine bateful jewess Didn't the article say the mortgage interest change was only for newly purchased homes? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590069) |
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Date: November 2nd, 2017 10:43 PM Author: mentally impaired marketing idea (Boomer who will never ever move) (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592495) |
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Date: November 2nd, 2017 12:01 PM Author: supple fighting garrison double fault how much does this add to the deficit? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587579) |
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Date: November 2nd, 2017 3:40 PM Author: Glassy slap-happy shrine 1.5T i think (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589376) |
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Date: November 2nd, 2017 12:05 PM Author: Ruddy sweet tailpipe bbw So everyone gets what they want except high end homebuilders? That has to fuck the budget in its ass, right? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587607) |
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Date: November 2nd, 2017 12:09 PM Author: bespoke property karate I’m eyeing the housing market in DC and NYC and Boston and California.
All those 1.5 million shitshacks are going to take a tumbling. Which is great for me when I move back to the US. |
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Date: November 2nd, 2017 12:10 PM Author: Flatulent boiling water I think taxes may be raised upper middle class on people in NY and California but fuck them.
Except no more AMT i think so maybe not |
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Date: November 2nd, 2017 12:12 PM Author: Thriller legal warrant sneaky criminal lmao @ earl (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587664) |
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Date: November 2nd, 2017 12:17 PM Author: talking nibblets (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587704) |
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Date: November 2nd, 2017 12:18 PM Author: Ruddy sweet tailpipe bbw Yeah a chance of higher rate but no amt... can't tell how it'll work out. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587713) |
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Date: November 2nd, 2017 12:20 PM Author: Flatulent boiling water And there's a tax break for poors, middle class, and your investments (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587756) |
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Date: November 2nd, 2017 12:26 PM Author: Ruddy sweet tailpipe bbw Investments? You mean the pass through stuff or did they do something with cap gains? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587833) |
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Date: November 2nd, 2017 12:28 PM Author: Flatulent boiling water Corporate taxes (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587856) |
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Date: November 2nd, 2017 12:24 PM Author: bat shit crazy internal respiration So I get double standard deduction at 12,700, instead of the 26000, or so local tax deduction. But also, AMT goes away and I probably get a slight reduction based on the bracket shrinkage. So I'm what, dead even? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587814) |
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Date: November 2nd, 2017 12:25 PM Author: Flatulent boiling water Probably. But this wasn't about cutting taxes for upper middle class (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587822) |
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Date: November 2nd, 2017 12:27 PM Author: bat shit crazy internal respiration I get that, just trying to figure out the impact on me. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587849) |
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Date: November 2nd, 2017 12:26 PM Author: soul-stirring theater This is confusing as hell, but I assume it will fuck me hard.
Is the mortgage interest deduction grandfathered in? The cap on deducting state taxes will really fuck me because I think I pay something like $30,000 in state taxes. |
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Date: November 2nd, 2017 12:28 PM Author: Flatulent boiling water yes it's grandfathered in.
But to be fair, it was people like you who GOP was trying to fuck. 99% of them are shitlibs. |
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Date: November 2nd, 2017 12:30 PM Author: soul-stirring theater So on one hand, the cap on the interest deduction will not affect my current home, but it may hurt the sale price when I eventually sell it. It will not be available when I buy my more expensive next time in five years, but it may contribute to the place being lowered. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587891) |
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Date: November 2nd, 2017 12:33 PM Author: Flatulent boiling water Don't you have to pay the AMT? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587916) |
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Date: November 2nd, 2017 12:34 PM Author: soul-stirring theater I sure did. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587926) |
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Date: November 2nd, 2017 12:39 PM Author: Flatulent boiling water That'll be gone (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587972) |
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Date: November 2nd, 2017 12:30 PM Author: Unhinged exhilarant pocket flask principal's office Major Trumpmo here. I'm getting fucked under this deal. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587893) |
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Date: November 2nd, 2017 12:31 PM Author: flickering nursing home macaca how so? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587902) |
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Date: November 2nd, 2017 12:33 PM Author: Unhinged exhilarant pocket flask principal's office SALT. S Corp pass thru taxation (although I didn't see this, I'm just gleaning from the comments here). (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587918) |
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Date: November 2nd, 2017 12:35 PM Author: Flatulent boiling water How would the S-corp thing hurt you? It can only help (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587928) |
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Date: November 2nd, 2017 12:36 PM Author: Unhinged exhilarant pocket flask principal's office Revenue would be taxed twice, no? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587943) |
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Date: November 2nd, 2017 12:37 PM Author: Ruddy sweet tailpipe bbw It's pass through same as before. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587950) |
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Date: November 2nd, 2017 4:54 PM Author: Shaky senate partner 'pass-through'
*drools* |
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Date: November 2nd, 2017 12:36 PM Author: Ruddy sweet tailpipe bbw Lawyer? Doesn't sound like S Corp is changing for you. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587946) |
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Date: November 2nd, 2017 12:37 PM Author: Unhinged exhilarant pocket flask principal's office Nice! Still going to get boned on SALT though. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587953) |
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Date: November 2nd, 2017 12:32 PM Author: Flatulent boiling water State your income and state (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587909) |
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Date: November 2nd, 2017 12:35 PM Author: Unhinged exhilarant pocket flask principal's office NY. Property taxes are 15k. Income is idk because I just joined a small firm as a partner on a purely eat what you kill arrangement. Probably 175k-200k paid to my s corp from the partnership next year (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587935) |
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Date: November 2nd, 2017 12:40 PM Author: Flatulent boiling water Income tax rate will be lowered a good bit (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587977) |
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Date: November 2nd, 2017 12:38 PM Author: soul-stirring theater Is there a cap on property tax deductions which is separate from the mortgage tax deduction? I just realize that if they get rid of the alternative minimum tax, I may be able to start deducting my property taxes again which would be nice. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587960) |
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Date: November 2nd, 2017 12:40 PM Author: Brindle crusty philosopher-king abode property tax deduction would fall under state and local tax deduction which I think is now capped at $10k under this plan. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587985) |
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Date: November 2nd, 2017 12:43 PM Author: soul-stirring theater lol so $10K total? Fuck my ass kyle. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588006) |
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Date: November 2nd, 2017 12:45 PM Author: Ruddy sweet tailpipe bbw It's separate, to answer your question. You get the interest deduction plus 10k of local/ state/ property tax. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588027) |
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Date: November 2nd, 2017 12:54 PM Author: Titillating Corn Cake Box Office PROPERTY TAX. You get zero state tax deduction as I read it (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588094) |
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Date: November 2nd, 2017 5:16 PM Author: galvanic plum market (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590165) |
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Date: November 2nd, 2017 12:41 PM Author: Razzle lodge cuck looks like capped at 10k but who knows where that ends up prop tax, SALT, and mtg interest all seem like candidates to get tweaked between now and a vote |
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Date: November 2nd, 2017 12:44 PM Author: soul-stirring theater is it capped separately or is state income tax + property tax capped at $10K together? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588017) |
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Date: November 2nd, 2017 12:47 PM Author: Flatulent boiling water All SALT (including property) deductions capped at $10k.
Pay up shitlibs |
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Date: November 2nd, 2017 7:21 PM Author: Fragrant home athletic conference (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591071) |
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Date: November 2nd, 2017 12:47 PM Author: Brindle crusty philosopher-king abode State and local is capped at $10k total. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588043) |
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Date: November 2nd, 2017 12:43 PM Author: jet-lagged dragon AMT is gone but it's a red herring. You'll never get close to hitting AMT now. Basically, the only itemized deductions that will be left are up to $10k per year on property taxes, interest on $500k mortgages, and charitable donations. That's it. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588005) |
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Date: November 2nd, 2017 12:44 PM Author: twinkling know-it-all parlour boltzmann (Guy who doesn’t have oil and gas assets or rental properties) (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588013) |
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Date: November 2nd, 2017 12:45 PM Author: soul-stirring theater business expenses taken through an S or C corp are not itemized deductions. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588023) |
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Date: November 2nd, 2017 12:51 PM Author: twinkling know-it-all parlour boltzmann Right, but all this shrieking about itemized deductions getting axed is solved by my previous post
Businesses (especially real estate) are getting preferential treatment. Wagecucks are getting boned. |
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Date: November 2nd, 2017 1:10 PM Author: soul-stirring theater not small businesses. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588236) |
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Date: November 2nd, 2017 12:40 PM Author: territorial piazza Anti trump person here. I make out like a bandit with these cuts. Moving to the south was a great move. LOL at suburban NY Trumpmos about to get crushed.
Not sure it’s wise to be adding so much to the deficit but at least I’m getting my piece. |
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Date: November 2nd, 2017 12:45 PM Author: Flatulent boiling water Nah shitlibs in SF, LA, and MFH are paying up so it won't add to deficit. Fuck yeah (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588020) |
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Date: November 2nd, 2017 1:02 PM Author: territorial piazza I could get behind this if he’d stop with the tantrums and hiring all these hacks. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588167) |
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Date: November 2nd, 2017 12:53 PM Author: soul-stirring theater So last year I paid $35,000 in state income tax, $10,000 in property taxes, and something like $8,000 or $9,000 in AMT. Also deducted $24,000 in mortgage interest.
Sounds like I am fucked... |
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Date: November 2nd, 2017 12:59 PM Author: Flatulent boiling water Youll still be able to deduct most of that mortgage interest. The longer you've had it and less the loan is over $500k the more youll still get to deduct.
You will go from $69,000 in deductions to probably like $25,000-$30k, which would be about $14k extra in taxes but the AMT elimination makes up for a lot of that disparity and your actual income tax will be lowered.
You'll pay like $5k more maybe. |
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Date: November 2nd, 2017 1:03 PM Author: Brindle crusty philosopher-king abode This is the fuck homeowners in first tier metro areas bill. $10k+ is the norm just for property taxes in NYC suburbs, let alone state income tax. A slight reduction in rates isn't going to make up for all of that. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588178) |
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Date: November 2nd, 2017 1:09 PM Author: Flatulent boiling water These are people that deserve to be fucked, i.e. shitlibs.
They can pay for all the shit they demand for minorities and poors. |
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Date: November 2nd, 2017 1:24 PM Author: Brindle crusty philosopher-king abode Our states usually pay out more in federal taxes than we take in. This makes the disparity even worse.
"Henchman is a Californian himself and understands why his Golden State neighbors grumble about subsidizing federal aid programs in other states. For one thing, large amounts of federal spending allow red state governments to keep their taxes artificially low. The highest individual state income tax rate in Mississippi and Alabama in 2016 was 5 percent, while top-earners in California and New York paid 13.3 percent and 8.82 percent respectively." |
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Date: November 2nd, 2017 4:12 PM Author: Glassy slap-happy shrine Good. This federal spending is shitlibs' doing. Strip it. Maybe they'll stop voting for shitlib stuff, and maybe it'll make rapetiles realize they need to spend a little more to keep there from being a billion homeless twinks in alabama. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589611) |
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Date: November 2nd, 2017 5:38 PM Author: nubile diverse step-uncle's house lol get fucked (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590328) |
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Date: November 2nd, 2017 5:41 PM Author: Razzle lodge cuck enjoy! (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590345) |
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Date: November 2nd, 2017 6:02 PM Author: Titillating Corn Cake Box Office (New states rights activist) (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590494) |
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Date: November 2nd, 2017 7:23 PM Author: ebony idiot (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591082) |
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Date: November 2nd, 2017 7:58 PM Author: galvanic plum market (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591268) |
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Date: November 2nd, 2017 1:55 PM Author: Charismatic Painfully Honest Death Wish House Those guys need to get fucked. I am ok with this. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588598) |
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Date: November 2nd, 2017 3:43 PM Author: jade overrated locus then don't fucking live in the NYC suburbs if you can't afford the taxes. or stop electing shitlibs who get the taxes to those levels in the first place. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589397) |
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Date: November 2nd, 2017 4:14 PM Author: galvanic plum market (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589626) |
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Date: November 2nd, 2017 5:09 PM Author: Angry fantasy-prone hospital tank Now you’re subsidizing corporations AND poors. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590101) |
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Date: November 2nd, 2017 11:39 PM Author: smoky generalized bond dog poop (tax welfare queen) (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592981) |
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Date: November 2nd, 2017 1:10 PM Author: Infuriating chrome cumskin tanning salon is it mortgage interest for homes up to 500K, or mortgage interest for mortgage up to 500K? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588237) |
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Date: November 2nd, 2017 1:14 PM Author: Flatulent boiling water Mortgage (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588265) |
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Date: November 2nd, 2017 5:13 PM Author: Carmine bateful jewess This definitely helps with future purchases (for current homeowners). (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590140) |
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Date: November 2nd, 2017 1:13 PM Author: floppy dilemma famous landscape painting Trump has a good heart. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588249) |
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Date: November 2nd, 2017 3:16 PM Author: Domesticated misanthropic sex offender forum Does it take effect for 2017 taxes? (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589176) |
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Date: November 2nd, 2017 3:28 PM Author: Razzle lodge cuck no way it's retroactive, would fuck up withholding penalties and a bunch of other things. at this point they'll be lucky if they get it done in time for 2018 (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589268) |
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Date: November 2nd, 2017 3:44 PM Author: Domesticated misanthropic sex offender forum Damn BORING (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589404) |
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Date: November 2nd, 2017 3:47 PM Author: obsidian harsh gas station loling at all the blue state republican like Nutella who thought they were going to save some cash. Fuck em! (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589418) |
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Date: November 2nd, 2017 3:52 PM Author: Awkward Spot Cuckold Not a Trumpmo, but TBF, this shit delivers for the middle class (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589461) |
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Date: November 2nd, 2017 11:40 PM Author: smoky generalized bond dog poop not really. the simplification is great, but it adds to the deficit bigly to fund massive cuts for corps and pass-through businesses. the ultra rich are going to make out like bandits. (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592994) |
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Date: November 2nd, 2017 7:24 PM Author: odious library persian lol debtcucks you're all gonna starve (http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591086) |