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If my federal taxes go up, I’m voting Democrat
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Dasville Offline
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Post: #34
RE: If my federal taxes go up, I’m voting Democrat
(12-06-2017 12:11 PM)BobL Wrote:  
(12-06-2017 10:23 AM)Dasville Wrote:  Just saying.

Depending on what happens during reconciliation ill either pay a little more or alot more in taxes.

I currently file as HOH with one dependent. That puts me in the 25% bracket, with two exemptions plus mortgage interest, property tax and charitable deductions as itemized deductions. My total itemized deductions are around 24k add the personal exemptions of 8k, thats 32k I am able to write off my gross.

As i understand the 2 bills

Under the House plan I lose property taxes and personal exemptions, which takes me from 32 K to 17K, tax rate stays at 25%.

Under Senate plan I lose personal exemptions which takes me from 32K to 24, tax rate goes to 24%.

Time will tale and I fear your also right.
12-06-2017 12:14 PM
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Messages In This Thread
RE: If my federal taxes go up, I’m voting Democrat - Dasville - 12-06-2017 12:14 PM
Q - JMUDunk - 12-06-2017, 03:56 PM



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