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In reply to the discussion: I'm a CPA with a small tax practice [View all]mercuryblues
(14,552 posts)17. I think the biggie is
the change in tax brackets. Which led to lower withholdings in the paycheck. His supporters looked at it like getting a raise. Which led to companies getting by with skimpy, if any at all, actual raises. Now they are finding out that "pay increase" comes at a cost. They have to pay that raise back.
Coupled with fewer tax deductions this is going to be a shit show for republicans. Dems need to run on this in 2020, big time.
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Don't you have to pay your estimated tax anyway when you file an extension? I had to do that in the
BamaRefugee
Feb 2019
#94
I file for an extension every year because I'm a freelancer and the timing for funding my IRA
Neema
Feb 2019
#113
Yes, a loan w/ a high interest rate. You are pretty well paying for it totally. This points out...
SWBTATTReg
Feb 2019
#41
yeah, the whole thing was and is so freakin' obvious to anyone with a functioning brain..
pangaia
Feb 2019
#124
I think the republicans wanted to screw America's charities with their tax bill
Achilleaze
Feb 2019
#16
That's an excellent point which I hadn't considered. You would think real churches
erronis
Feb 2019
#87
That is not necessarily true. The elimination of the Personal exemptions, especially for those who
still_one
Feb 2019
#33
California is over-riding it, they just aren't conforming to federal rules. States can confirm or
still_one
Feb 2019
#54
They can only deduct the interest if it is used for home improvement of principle residence, not for
still_one
Feb 2019
#66
For those who used to itemize it sure will because a good number of folks financed their cars
still_one
Feb 2019
#102
For those over 65 and single it is 13600. For Married filing jointly over 65 it is 26600.
still_one
Feb 2019
#101
That and the elimination of the personal exemption is going to bite a good number in that category.
still_one
Feb 2019
#36
Is anyone else seeing that commercial on tv selling a book about trump's tax bill
mucifer
Feb 2019
#27
would it be possible for you to explain to your customers that its a result
Fresh_Start
Feb 2019
#31
K-1s are notorous for being late, and technically in violation of the law for that. You should
still_one
Feb 2019
#37
you are very wise, and those who were not paying attention may be in for an unexpected tax bill this
still_one
Feb 2019
#56
The withholding tables are absolutely broken and you can't convince me it was an accident
Recursion
Feb 2019
#47
Here is a good explanation why many will find not benefit from the new tax law if they used to
still_one
Feb 2019
#38
Haven't done ours yet. Virginia Dept of Tax came out yesterday and told everyone to hold off
underpants
Feb 2019
#43
We're both retired. We got $1000 back last year, this year we're paying $4000. Admittedly....
George II
Feb 2019
#86
Best way to get a subservient populace, put them all in phony "debt" and then companies can oppress
rwsanders
Feb 2019
#93
That was their plan. To hit Democrats, who live mainly in high-tax states.
Honeycombe8
Feb 2019
#116
i live in NJ and, because of the tax bill, I lost 20,000 in deductions from state and property taxes
Mars and Minerva
Feb 2019
#138
The idea is to set up Municipal charities so that you can donate to your area....
Mars and Minerva
Feb 2019
#157
My favorite part about the IRS: refunds are interest free. But UNDERPAY? You owe them a huge penalty
MadDAsHell
Feb 2019
#128
You think that's bad, I have bronchitis, taxes and I'm having my kitchen and bathroom...
Mars and Minerva
Feb 2019
#145
I know...I'm being a baby but it pisses me off that these taxes are going to a government run by...
Mars and Minerva
Feb 2019
#151
Tax returns for this year and next year keep this up we're going to win 45 states in 2020
TeamPooka
Feb 2019
#149