I just filed my taxes and I gotta say, this administration is sneaky. They’ve taken away a number of the exceptions we had before so can’t reduce income by those expenses now. Anyone else seen significant changes in their tax dollars?

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Lol bro, it’s October. You need to get on your business a little sooner. April would have been a good first option, June at most. Plus the changes were out like in January. Did you notice the doubling of your personal exemptions though?

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Yup. My taxes were hit hard after they messed around with the SALT deduction. More subsidizing states that aren’t major contributors to the GDP, and raising taxes on the middle class.

Par for the course for the Trump administration.

likefunny

There are better policies to incentivize home ownership that dont distort incentives for state and local governments to spend.

This isnt rocket science...tax experts on both sides of the aisle agree SALT sucks and should have been totally eliminated and not just capped.

The only people pushing for SALT to come back are the people from high tax states that no longer have the federal government artifically subsidizing their spending (looking at you California and New York...)

Yep. Sure, I got about $60 more a paycheck, but I did notice that my tax return is about $1800 short of what it normally is.

Another reason to kick Trump out.

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Yes. If you live in a high cost state aka a blue state, you don’t get to deduct your state taxes. I also wasn’t able to deduct my mba tuition as a business expense which cost me 5k, his “tax cut” hasn’t helped me at all

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D3 exactly.
CD1 above thinks (s)he’s ‘middle class.’

It’s October. What do you mean you just filed taxes?

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Filed for an extension because I moved and my stuff was all over the place. No more relocation expense deductions except in the military.

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If you live in a blue state you probably got a decent tax break assuming you make 400k+

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Im all for tax code simplification - its a personal white whale of mine. But you need to do it across the board and not picking and choosing.

Trumps tax cuts (for better or worse) actually moved a bit towards this in that far more filers will now take the standard deduction. Now they didnt simplify nearly enough but it was actually more along this line than Bidens very complicated tax plan for instance.

I’m an Associate in tax and my tax bill went down around $2k 🙌🏾

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My taxes went up because they took away SALT. I do not know why people are rooting for these Republicans.

At a federal level, we are in a whol lot of deep$hit (read deficit).

uplifting

Hear hear. The last President to have a surplus was Bill Clinton. Then GWB brought eternal war to America.

Yes lol

With trump we started getting more per paycheck then at end of year owed all that back so it was all just deferred and paying more than before.

Huge difference to the tune of 8k a year

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