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Originally Posted by Buck Rogers
(Post 2755030)
I am sure you are absolutely right about the mind changing. When you choose to live in the United States and work in the United States....surprise!...you are subject to the laws of the United States....including the taxes and tax code as written. So, when you acknowledge your tax liability and then try to recharacterize it as “theft”......well.....I have a pretty accurate view of your perspective.....motor on my good man...::rolleyes:
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Beech...not sure, and not at my home computer....I think it it was about 25%....but I stand by the other 2 numbers I posted...a reduction of 3.6 %......or.....for those of an argumentative nature....I got tho keep about 3.6% more of MY money;)
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My effective tax rate went down 5.8 percentage points. If it weren’t for the tax credits for my kids, I would’ve ended up close to breaking even.
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Originally Posted by GuardPolice
(Post 2755239)
My effective tax rate went down 5.8 percentage points. If it weren’t for the tax credits for my kids, I would’ve ended up close to breaking even.
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Originally Posted by 4fans
(Post 2755246)
Yes getting the full child tax credit is a huge gain for my tax situation also.
Seemed to help a little. Taxes are simple when you are old and debt free. No mortgage interest and property tax deduction is capped. Travel expense deduction went away, but AMT used to take it away anyhow. AMT change seemed to work in my favor and standard deduction was my best choice. OFG |
I used the 2018 Turbotax edition but used my 2017 incomes and deductions - I saw about a 15% reduction in my federal tax liability. Getting rid of the AMT is what helped the most from a cursory examination.
My effective tax rate went down by 3.15%, I have nothing special tax wise, no business, I did exceed the 10K SALT by a little. |
Dual income joint filing with no kids.
Taxes decreased 12% year over year. |
I get the $50 pro diem product every year to claim meals and per diem. Is that still a thing or not applicable under the new tax law?
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Originally Posted by casual observer
(Post 2755407)
I get the $50 pro diem product every year to claim meals and per diem. Is that still a thing or not applicable under the new tax law?
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I believe that is no longer a thing. Killed me this year not having it
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