Colonel Angus
Well-known member
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- Apr 24, 2011
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Personally I like my information without all of the spin.
lololololololol
Personally I like my information without all of the spin.
Is there a non-talking points version of this?
Personally I like my information without all of the spin.
is the $90K at 12% for married couples or single filers?
Is there a non-talking points version of this?
Personally I like my information without all of the spin.
Too early for a full analysis. Here's something a little more detailed. http://money.cnn.com/2017/11/02/news/economy/house-tax-reform-bill-individuals/index.html
in some ways this bill doesn't matter too much, the Senate will really decide how far tax reform goes.
Tax experts often note the AMT no longer meets its original purpose and further complicates an already complex tax code. But it's been kept on the books because it raises a lot of revenue. Repealing it would reduce revenue by $440 billion in the first decade, according to Tax Policy Center estimates.
Also, looks like I'm wrong that having kids costs $400 more, as they added a $300 credit for parents. So if you have 1 kid you made $200. 2 kids you lose $200, and each additional kid costs you $400.
This makes sense, so there is no way it will survive:
If they're capping mortgage interest, removing state and local tax deduction and raising standard deduction then who would even itemize anymore to be able to deduct mortgage interest? Seems like this proposal effectively wipes that out as well without coming out and saying it.
If they're capping mortgage interest, removing state and local tax deduction and raising standard deduction then who would even itemize anymore to be able to deduct mortgage interest? Seems like this proposal effectively wipes that out as well without coming out and saying it.
Most folks can basically do that already with a 1040EZ. The dirty secret Big Tax Prep doesn't want you to know!