I do my own taxes last.everyone was all about trump's tax cuts.....and yet there has been total silence on how this effected your taxes this year as you settled? My taxes are being done and I cant wait to see the results....
so anyone...how did your taxes compare to last year?
I have clients that I need to take care of first.
The client with a really big mortgage is getting out of Trump's tax hike on the upper middle and lower-upper classes by renting out their home on Airbnb and renting for themselves elsewhere. Mortgage interest is still fully deductible for a rental property if you make a profit. This is for 2018 payable quarterly now.
State tax goes up too when the Fed exemptions go away, in some states.
As for me, since I rent, and since I have no kids, my taxes will go down under Trump. Same as they did under Dubya. Just not as much as for the ultra rich plutocracy.