anatess2 Posted January 26, 2018 Report Share Posted January 26, 2018 I did. Exactly $50 per paycheck (weekly) if I work all 40 hours. That's $200 a month! My husband got a tax cut AND a raise. So he gets $400 per paycheck (monthly). So, we get $600 more a month between the 2 of us. Plus my husband got a $1,000 tax cut bonus. @zil will be happy to know my husband's hammer did not fall down on my fountain pen craziness. Yet. So, did you get a tax cut? zil, NeuroTypical and Sunday21 2 1 Quote Link to comment Share on other sites More sharing options...
zil Posted January 26, 2018 Report Share Posted January 26, 2018 If anything, I'm subsidizing you all more than before. Enjoy those nibs. Sunday21 1 Quote Link to comment Share on other sites More sharing options...
mrmarklin Posted January 26, 2018 Report Share Posted January 26, 2018 No tax cut for the not so rich. My taxes will increase significantly. Quote Link to comment Share on other sites More sharing options...
JohnsonJones Posted January 26, 2018 Report Share Posted January 26, 2018 (edited) For me, it doesn't appear so. It looks like I will be loosing around $150 a month if all those calculation things are right. At least it's not as bad as it could have been...though when the temporary tax cuts disappear we will see what happens. Of course, it should be noted, the true final total won't be known until we do taxes next year, so, who knows what it will look like then. It could be greater or lesser. Edited January 26, 2018 by JohnsonJones Quote Link to comment Share on other sites More sharing options...
Sunday21 Posted January 26, 2018 Report Share Posted January 26, 2018 No ??! Quote Link to comment Share on other sites More sharing options...
NeuroTypical Posted January 26, 2018 Report Share Posted January 26, 2018 I'll get paid in a few weeks and let y'all know. Quote Link to comment Share on other sites More sharing options...
anatess2 Posted January 26, 2018 Author Report Share Posted January 26, 2018 11 hours ago, mrmarklin said: No tax cut for the not so rich. My taxes will increase significantly. Oh yeay! I'm one of the rich now! Quite an achievement for an immigrant. Too bad my dad has already passed. I could've bragged to him about it. NeuroTypical and Sunday21 2 Quote Link to comment Share on other sites More sharing options...
person0 Posted January 26, 2018 Report Share Posted January 26, 2018 12 hours ago, mrmarklin said: No tax cut for the not so rich. My taxes will increase significantly. 3 minutes ago, anatess2 said: Oh yeay! I'm one of the rich now! Quite an achievement for an immigrant. Too bad my dad has already passed. I could've bragged to him about it. I am fairly confident that the reason mrmarklin's taxes will increase is not because of federal taxation, but because of the fact that California taxes are so high, and he will no longer be able to get the same federal deduction for the California taxes paid. He will still be paying more, which is unfortunate, however, I would blame that on California, rather than the new tax law. If he were able to move to a state with lower taxes, he would probably be receiving a tax break as well. That said, the new tax law will have minimal to no effect on my taxes. Quote Link to comment Share on other sites More sharing options...
Grunt Posted January 26, 2018 Report Share Posted January 26, 2018 I’m receiving a tax cut. Sunday21 1 Quote Link to comment Share on other sites More sharing options...
zil Posted January 26, 2018 Report Share Posted January 26, 2018 29 minutes ago, Grunt said: I’m receiving a tax cut. Taxes cutting your income? Sunday21 1 Quote Link to comment Share on other sites More sharing options...
Grunt Posted January 26, 2018 Report Share Posted January 26, 2018 3 hours ago, zil said: Taxes cutting your income? Nope. Mo’ money Mo’ money Mo’ money Quote Link to comment Share on other sites More sharing options...
mrmarklin Posted January 27, 2018 Report Share Posted January 27, 2018 On 1/26/2018 at 8:38 AM, person0 said: I am fairly confident that the reason mrmarklin's taxes will increase is not because of federal taxation, but because of the fact that California taxes are so high, and he will no longer be able to get the same federal deduction for the California taxes paid. He will still be paying more, which is unfortunate, however, I would blame that on California, rather than the new tax law. If he were able to move to a state with lower taxes, he would probably be receiving a tax break as well. That said, the new tax law will have minimal to no effect on my taxes. Your statement about the limitations of SALT is very true. Luckily they are still allowing interest for second homes. I was at a tax seminar yesterday (I’m a CPA)and for most people making $175K or less there is a tax cut in your future! person0 1 Quote Link to comment Share on other sites More sharing options...
NeuroTypical Posted February 20, 2018 Report Share Posted February 20, 2018 On 1/26/2018 at 8:58 AM, NeuroTypical said: I'll get paid in a few weeks and let y'all know. Ok - finally got my paycheck where the tax changes have rolled in. I'm paying about $100 LESS per month in taxes now. This is the best news in the whole world for my family! Some home repairs have been overdue a while. Time for happy dance. Thanks, Trump! anatess2 1 Quote Link to comment Share on other sites More sharing options...
anatess2 Posted February 20, 2018 Author Report Share Posted February 20, 2018 2 hours ago, NeuroTypical said: Ok - finally got my paycheck where the tax changes have rolled in. I'm paying about $100 LESS per month in taxes now. This is the best news in the whole world for my family! Some home repairs have been overdue a while. Time for happy dance. Thanks, Trump! I've been happy dancing like you won't believe. It came out to be that my husband's bonus was increased to $2,500. And then we find out that the home insurance assessment for our hurricane damage paid out enough that the contractor took the check the insurance paid out without needing us to pay him our $2,000 deductible (we were gonna put the bonus towards the deductible). I was so tempted to trade my car in (it's 8 years old, paid off long time ago) but my husband put some sense into me... we don't want this tax cut to create new debt! So we put all the money into the kids' college fund... or so I thought. Come to find out, my husband used half of it on a super extravagant Valentine's Day gift for me. So here I am... sporting a brand spanking new iPhone X to replace my iPhone 6. The rest he put on my kids' investment accounts (not college fund) so they can use it for their mission. My husband didn't get anything. Well, he got a $20 UnderTech belly-band holster for his firearm. If I'd have known we're going all out on Valentine's, I would have asked @mirkwood for advice on better holsters! mirkwood and NeuroTypical 1 1 Quote Link to comment Share on other sites More sharing options...
eVa Posted February 20, 2018 Report Share Posted February 20, 2018 The tax cut is minimal for me, but I am not happy at all. The whiplash from the expiration is going to hurt something fierce. Quote Link to comment Share on other sites More sharing options...
anatess2 Posted February 20, 2018 Author Report Share Posted February 20, 2018 15 minutes ago, eVa said: The tax cut is minimal for me, but I am not happy at all. The whiplash from the expiration is going to hurt something fierce. That's the thing about benefits - e.g. Welfare, SS, health subsidies, etc. - once it is given to you, it is next to impossible to take it away because it will be felt in the next election cycle. This works the same way with Tax Cuts - once it is given to you, it becomes a ginormous wedge issue in the 2026/2028 elections that Republicans can actually now say the Democrats want to give tax cuts to the top 1% only if they don't work to make it permanent. So, Ted Cruz is actually now working on a bill that makes the individual tax cuts permanent (would require 60 votes in the Senate due to filibuster rules) and using this narrative of Bernie Sanders only doing lip service to caring about the financial difficulties of the middle class to drag Democrats to the table. We'll see how that works out. What I'm not happy at all is the Budget that got passed. Tax Cuts is only half the battle folks! Forcing the Feds to reduce spending is the other half! Quote Link to comment Share on other sites More sharing options...
eVa Posted February 20, 2018 Report Share Posted February 20, 2018 7 minutes ago, anatess2 said: What I'm not happy at all is the Budget that got passed. Tax Cuts is only half the battle folks! Forcing the Feds to reduce spending is the other half! Agreed the piece mailed budget was less than ideal. Quote Link to comment Share on other sites More sharing options...
Sam Posted February 21, 2018 Report Share Posted February 21, 2018 It's such a small difference for me. I went from 39.6% tax rate to 37% - technically more, but basically it's nothing. But I still support the tax plan. Quote Link to comment Share on other sites More sharing options...
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