I would be willing to bet that more pilots do not know that all personal business expenses are not deductible, than you imagine. I knew “some” business expenses were not deductible. I did not know that all were. Does it hurt? I will see when I do my taxes. BTW, what does the fact that I vote in every election have to do with congress passing the new tax law?

 

If you vote, you should try to be an informed voter. The details of this tax reform bill were widely discussed in the media and there were even several threads on this forum covering it.

 

The increased standard deduction, elimination of the AMT, and the expanded tax brackets with lower rates should help most folks out. I saw a 2% decrease in taxes for 2018 vs. 2017. I just used the standard deduction and it took me about twenty five minutes to enter everything into Turbo Tax and file. Refund hits the bank Wednesday.

 

^ This times a thousand.

 

Retired is the key word on your bio...


I live in a high income and property tax state. The limitation on that deduction combined with the elimination of miscellaneous deductions is very hurtful economically to me personally. Notwithstanding, my personal *****ing, think about this...


The snapback provisions of Trump's idiotic tax law will make our children pay dearly for the profits that the top 1% and corporations get to take tax free. The whole thing stinks. We (if you voted for that blow hard *******) sold our children down the river...

 

To be in the top 1% you have to make about $400k a year. So there are a few people on this forum in that bracket.

If you do not want high state and local taxes than stop voting for politicians that raise the taxes.

 

Well at the current rate the Left is implementing laws, it might not be to late for you to drown your kids in that river, with no implications.

I guess you need to pick: Laws that allow companies expand or laws that reduce the population. One is evil and one is good, it just depends on who you're talking to.

Peace brothers and sisters

 

There’s your problem, Chief... But sure, blame the bill that lowered your federal income taxes because now you can’t deduct your cell phone like 99% of the rest of the population.

 

The Republicans have the House, the Executive branch and make up a clear majority of the State Governors. In both 2017 and 2018 the Republicans controlled both houses of Congress AND the White House.

 

OK???

NY and VA just signed bills that allow abortion up to and even after birth. VT and NM are working on their versions. Your point?

Here's and idea. Stop being a victim. Lots of folks make a lot of money and aren't complaining. I used to live in a high tax state. I stopped being a victim, and moved to a low tax state. I left family and friends. Now it's nice to visit, but I chose to not be a victim, unlike the 4000 babies that will die today. You want to talk about unfair, lets talk!

But let's be honest, if the Green New Deal goes through, we won't have to worry about tax breaks. In ten years all air travel will be stopped, and if we're lucky to still have jobs, we will be taxed up to 70%, so those who choose not to work can have a quality life. Read the proposal. Don't just listen to MSNBC and CNN or FOX for that matter. Read the plan for yourself, just be careful there is a new one posted online, since so many folks were outraged when they read the real one.