http://taxplancalculator.com/

Looks like this calculator is spot on, it compares current law, new plan, as well as the house and senate versions.

Using this:
Plan as Passed: I will pay 307 less
Old House Plan: Would have paid 95 more
Old Senate Plan: Would have paid 423 more.


For what its worth, as a democrat, the plan as passed is a good one....I just have a problem with increasing the debt...IMO we need a balanced budget that includes paying down the debt. No party seems to have the balls needed to do it.

I get a whopping 900 dollars.

(12-21-2017 02:02 PM)Fitbud Wrote:  I get a whopping 900 dollars.

what? You wanted more?

I'm at ~$3,100 in savings.

You'd save $1,279... That's about 100$ a month to tuck away

almost $4,000. woohoo!

$1800!!!

(12-21-2017 02:02 PM)Fitbud Wrote:  I get a whopping 900 dollars.

900 dollars on a previous tax bill of what? Look at it on a percentage basis.

$3284! Boom!

Holy smokes....almost $4000.

I might be able to fully retire now.

$75

(12-21-2017 02:25 PM)Chappy Wrote:  $75

Is that a 100% reduction?

$2834.....nice.

$2,684

(12-21-2017 02:34 PM)UofMstateU Wrote:  

(12-21-2017 02:25 PM)Chappy Wrote:  $75

Is that a 100% reduction?

No, It's a very small %. I guess I'm in that middle class group that doesn't get much change.

Okay, just did it again and got "You'd save $3,036"

Must've entered something wring the first time.

(12-21-2017 05:10 PM)Chappy Wrote:  Okay, just did it again and got "You'd save $3,036"

Must've entered something wring the first time.

Thats a hell of a lot better than $75.

lmao.....I'm still at saving 2887......

new and improved...............

A lot of myths about the tax plan being spread. I read an article today that quoted a "tax preparer" from California saying the loss of deductions will cause his taxable income to go up $6,000 and his taxes owed by $1,344. There is NO scenario where taxable income increasing by $6,000 increases tax liability since the rates are lower for all income levels.

According to the calculator, I'd save $4,500, but the state income tax estimate seems high.