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If you live in a high tax blue state look out, some people are going to come out on the losing end of this tax reform bill. The cap for deducting state income and property taxes is $10k. States like NJ where just your property taxes can exceed $10k will get hit.
Did I say I read the entire bill nitwit?As if you didn't already look stupid then you claim the temporary cuts will expire in 2018
Yes you did.
I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!
Do you see the word "entire" anywhere in my post?
In this particular case, I think you're wrong. When you say you just read the tax bill, the assumption would be that you read the whole thing. It is different from a newspaper, because a newspaper is made up of a collection of articles on different subjects. The tax bill is all about the same basic thing. A better analogy would be if you said that you just read a novel; the assumption would be that you read the entire novel, not just portions of it.
A minor thing either way.
then eat some eye rolls 
If you live in a high tax blue state look out, some people are going to come out on the losing end of this tax reform bill. The cap for deducting state income and property taxes is $10k. States like NJ where just your property taxes can exceed $10k will get hit.
Many zip codes in CA will be affected. Base rat is 1% + local-county add-on. At 1.25% a $1mil house will go over $10K. Most good areas Will lose deductions. A $10mil house will lose ~40% of $125K that used to be in their pocket. Los Altos, Palo Alto........sorry for you and Beverly Hills.
Avg joe in a $750K 3br 2ba bedroom worker home will not lose home tax deduction.
Does avg joe get state tax and property tax deduction?
If you live in a high tax blue state look out, some people are going to come out on the losing end of this tax reform bill. The cap for deducting state income and property taxes is $10k. States like NJ where just your property taxes can exceed $10k will get hit.
Many zip codes in CA will be affected. Base rat is 1% + local-county add-on. At 1.25% a $1mil house will go over $10K. Most good areas Will lose deductions. A $10mil house will lose ~40% of $125K that used to be in their pocket. Los Altos, Palo Alto........sorry for you and Beverly Hills.
Avg joe in a $750K 3br 2ba bedroom worker home will not lose home tax deduction.
Does avg joe get state tax and property tax deduction?
You get the mortgage interest deduction but what are property taxes on a $750k home?
I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!
Do you see the word "entire" anywhere in my post?
You were asked several times if you read the whole thing, and you implied that you did.
You are lying here have some of these
No dummy, I read the tax bill and hand calculated my taxes and never said my taxes were cut in half, are you a moron?
Did I say I read the entire bill nitwit?
Yes you did.
I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!
Do you see the word "entire" anywhere in my post?
In this particular case, I think you're wrong. When you say you just read the tax bill, the assumption would be that you read the whole thing. It is different from a newspaper, because a newspaper is made up of a collection of articles on different subjects. The tax bill is all about the same basic thing. A better analogy would be if you said that you just read a novel; the assumption would be that you read the entire novel, not just portions of it.
A minor thing either way.
Context, I read the bill to calculate my personal income tax, guess how many pages that required...less than 1000. Christ why am I even wasting my time explaining here talk to the hand.
You can allways claim more allowances and get more back each pay check, if you always get a refundI just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!
I'd prefer a tax system where the proper amount was paid, rather than having to get a bunch back at tax time.....but if your calculations are correct, good for you.
True...I have a number of employees that claim 99 dependents all year...nearly exempting themselves from federal taxes and then paying all their liabilities at the end of the year....I do not suggest this if you're not seriously disciplined....I do like the idea of sitting on my own money all year as well.
When I asked you which table you used, you didn't know what I was talking about. There are only four tables listed in the bill. And all within Title I.Context, I read the bill to calculate my personal income tax, guess how many pages that required...less than 1000. Christ why am I even wasting my time explaining here talk to the hand.
If you live in a high tax blue state look out, some people are going to come out on the losing end of this tax reform bill. The cap for deducting state income and property taxes is $10k. States like NJ where just your property taxes can exceed $10k will get hit.
Many zip codes in CA will be affected. Base rat is 1% + local-county add-on. At 1.25% a $1mil house will go over $10K. Most good areas Will lose deductions. A $10mil house will lose ~40% of $125K that used to be in their pocket. Los Altos, Palo Alto........sorry for you and Beverly Hills.
Avg joe in a $750K 3br 2ba bedroom worker home will not lose home tax deduction.
Does avg joe get state tax and property tax deduction?
You get the mortgage interest deduction but what are property taxes on a $750k home?
Roughly $8000 dollars property tax for joe avg. Plus $1000/mo mortgage interest easiy depending on how much balance remaining. Plus if you gross $100K you pay ~$10K state income tax. That is easily $30K for joesixpack. Is it all deductible?
When I asked you which table you used, you didn't know what I was talking about. There are only four tables listed in the bill. And all within Title I.Context, I read the bill to calculate my personal income tax, guess how many pages that required...less than 1000. Christ why am I even wasting my time explaining here talk to the hand.
You could have been honest, and said you skimmed the bill for only what you needed to know, you would have been honest, but you've implied you read the bill to determine it's applicability to different income levels, including deductions, exclusions and the other "fine print"
Next time you claim you read the bill, say you read part of the bill, or some of the bill, or skimmed through the bill..
If you live in a high tax blue state look out, some people are going to come out on the losing end of this tax reform bill. The cap for deducting state income and property taxes is $10k. States like NJ where just your property taxes can exceed $10k will get hit.
Many zip codes in CA will be affected. Base rat is 1% + local-county add-on. At 1.25% a $1mil house will go over $10K. Most good areas Will lose deductions. A $10mil house will lose ~40% of $125K that used to be in their pocket. Los Altos, Palo Alto........sorry for you and Beverly Hills.
Avg joe in a $750K 3br 2ba bedroom worker home will not lose home tax deduction.
Does avg joe get state tax and property tax deduction?
You get the mortgage interest deduction but what are property taxes on a $750k home?
Roughly $8000 dollars property tax for joe avg. Plus $1000/mo mortgage interest easiy depending on how much balance remaining. Plus if you gross $100K you pay ~$10K state income tax. That is easily $30K for joesixpack. Is it all deductible?
No, based on your example they will have to take the new $24k standard deduction and pay taxes on the $6k difference. Due to the $10k cap on combined income/property taxes their deductions only total $22k, less than the standard deduction.
No, based on your example they will have to take the new $24k standard deduction and pay taxes on the $6k difference. Due to the $10k cap on combined income/property taxes their deductions only total $22k, less than the standard deduction.
The typical Suffolk County homeowner pays $8,151 annually in property taxes.Well most good areas of CA will have $10K property tax (even for the little man in or near Silicon Valley).
If you live in a high tax blue state look out, some people are going to come out on the losing end of this tax reform bill. The cap for deducting state income and property taxes is $10k. States like NJ where just your property taxes can exceed $10k will get hit.
Many zip codes in CA will be affected. Base rat is 1% + local-county add-on. At 1.25% a $1mil house will go over $10K. Most good areas Will lose deductions. A $10mil house will lose ~40% of $125K that used to be in their pocket. Los Altos, Palo Alto........sorry for you and Beverly Hills.
Avg joe in a $750K 3br 2ba bedroom worker home will not lose home tax deduction.
Does avg joe get state tax and property tax deduction?
You get the mortgage interest deduction but what are property taxes on a $750k home?
Roughly $8000 dollars property tax for joe avg. Plus $1000/mo mortgage interest easiy depending on how much balance remaining. Plus if you gross $100K you pay ~$10K state income tax. That is easily $30K for joesixpack. Is it all deductible?
No, based on your example they will have to take the new $24k standard deduction and pay taxes on the $6k difference. Due to the $10k cap on combined income/property taxes their deductions only total $22k, less than the standard deduction.
Well most good areas of CA will have $10K property tax (even for the little man in or near Silicon Valley).
He needs high-income to live there $100K + wives income I would suspect? So he will be $5-$10K in state income taxes easily.
If you owe 1/2 mil at 4% interest will be ~$15K annually.
$24K is reached easily. Bottom line: some avg joe will now pay more Fed Tax in high tax states. Rich will pay more for sure it seems? Lakotha should be estatic?
It was never the federal governments to begin with you silly fuckerI just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!
And the government will be borrowing that amount to make up the loss of revenue.
Progressive/career politicians created the debt you silly fuckerI just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!
And the government will be borrowing that amount to make up the loss of revenue.
Your kids and grand kids will pay the bill don't worry about it.
Then stop your crybabying about the deficit and debt.
Socialist entitlement programs cost the most, you silly fuckerShame they don't cut their spending like all responsible people do when their income goes down.I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!
And the government will be borrowing that amount to make up the loss of revenue.
The Republicans do the exact same thing every time they get in power. Cut taxes, balloon the deficit, leave a mess for the Democrats, and then run against the Democrats raising taxes to try to clean up the mess.
Yes contrary to lying Dem's the rich will get whacked pretty good by the $10k cap. The liberal media won't bother to mention that, it conflicts with the 'tax break for the rich' narrative which will run 24/7. I guarantee you the liberal media have the narrative ready to run the day Trump signs this bill into law.
You do realize that the debt is unplayable it is far too large...Shame they don't cut their spending like all responsible people do when their income goes down.I just finished reading Trump's tax reform bill and calculated my tax refund check for next year when the tax reform bill takes effect, my refund check will be DOUBLE this years refund on about the same income hell yeah! Good job president Trump!!
And the government will be borrowing that amount to make up the loss of revenue.
And this is why I cannot support the tax cut. There should be a spending cut and when that is shown to lower our national debt then we can talk tax cuts. Tax cuts to win votes while adding to the deficit is not acceptable to me.
