How is the Trump's Tax Cut affecting your tax bill?

Google / Eng
prodaccess

Google Eng

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Feb 4 18 Comments

Are you looking forward for Tax Day?

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TOP 18 Comments
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    • Apple ijyA68
      Then you should be happy right? Coastal liberals need to pay their fair share! 🤣
      Feb 4
    • Apple ijyA68
      Are you talking about income tax rates vs. capital gains? Capital gains have always been lower. Stop hating the players and get your capital gains up.
      Feb 4
    • Apple ijyA68
      I think income tax in general is immoral and should be ended 👍.
      Feb 4
    • Apple ijyA68
      Why?
      Feb 4
  • Microsoft FBisEvil
    Most people don’t account their own effectiveness tax rate, much less annual tax savings. Most people only care if they’re getting a return, or how much money they may owe.
    Feb 4 2
    • eBay / IT
      manorama

      eBay IT

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      manoramamore
      Does effective tax rate include FICA contribution as well ?
      Feb 4
    • Microsoft FBisEvil
      It should, but it depends on what you personally are trying to measure. If you want Total federal effective tax rate, then yes. If you want you overall effective tax rate I would also say yes but also add your state and local taxes as well.
      Feb 6
  • Tableau Ydobon
    And I'm in Seattle.
    Feb 4 4
    • LinkedIn hhoomm
      Your effective tax rate in Seattle is definitely lower. WA has no state income taxes.
      Feb 4
    • Tableau Ydobon
      My federal tax rate, which is the subject of this thread, is higher this year.
      Feb 14
    • LinkedIn gofahu
      No it isn't. Effective federal tax rates reduced for all income levels in no-state-income-tax filers.
      Feb 15
    • Tableau Ydobon
      Next time you want to make a fool of yourself, might I suggest you do do less publicly? My taxes went up, for two reasons. I got slammed by the 10k limit and, contrary to your assertion, a good portion of my income is now taxed at 35% rather than 33%. One of the brackets increased rather than decreased. 10 to 15 percent of us saw our taxes climb.
      Feb 16
  • Oracle Numbats
    Overall the impact was negative, but not significant. SALT hit me hard. Had purchased a vehicle in 2018 and was looking forward to deducting almost $20k total (including RE, general sales tax, vehicle sales tax). Elimination of personal exemptions was not good either. But the child credit was not bad.
    Feb 4 2
    • Adobe / Eng
      abcdxyz123

      Adobe Eng

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      abcdxyz123more
      Which vehicle purchase can get you a deduction of $20k ???
      Feb 4
    • eBay / IT
      manorama

      eBay IT

      BIO
      Coder
      manoramamore
      Do we get child credit or child deduction for every kid ? Also how can you deduct vehicle sales tax, never heard of someone doing before
      Feb 4
  • Facebook public2
    If you make your money by working for someone else this is likely a tax increase.
    Feb 4 0
  • US Air Force hardAF
    1. get into real estate, (depreciation and expenses)
    2. live in a state with no income tax,
    3. Get a job that pays as little as mine,
    4. Pay no income tax!
    Feb 4 0
  • Tableau Ydobon
    My taxes increased.
    Feb 4 0