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Want to prepay property taxes to beat federal tax overhaul? Here's what we've learned
Syracuse.com ^
| 22 Dec 17
| Michelle Breidenbach
Posted on 12/24/2017 4:21:04 AM PST by SkyPilot
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To: SkyPilot
Well, the additional $1,300 for one of us will reduce the extra federal taxes we will owe in 2018 from $600-800 to $450-650. Being fully retired for the first time in 2018, I sense our cash charitable contributions are going to be lower to make up the difference.
To: Presbyterian Reporter
That graphic is not the law that was passed.
102
posted on
12/25/2017 6:02:43 AM PST
by
ConservativeMind
(Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
To: SkyPilot
Pre-paying your taxes is not against the law, it’s just not deductible as expected.
103
posted on
12/25/2017 6:20:10 AM PST
by
ConservativeMind
(Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
To: SkyPilot
That means in all other states, which are the vast majority, all Democrats’ seats are in the same jeopardy.
104
posted on
12/25/2017 6:26:46 AM PST
by
ConservativeMind
(Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
To: Svartalfiar; SkyPilot
Great point, Svartalfiar. So two children still means $20,000 in extra deductions, over and above the new $24,000 expanded deductions.
This is far better than Skypilot has been saying.
Sorry, SkyPilot.
105
posted on
12/25/2017 6:32:39 AM PST
by
ConservativeMind
(Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
To: ConservativeMind
Have a very Merry Christmas.
106
posted on
12/25/2017 6:41:38 AM PST
by
SkyPilot
("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
To: Raycpa
You got that right about the AMT. I have Turbotax’ 2017 software and ran my info thru it both prepaying and not prepaying. And es macht nichts! “Regular” tax goes down but the AMT goes up by the exact same amount.
107
posted on
12/25/2017 10:31:40 PM PST
by
House Atreides
(BOYCOTT the NFL, its products and players 100% - PERMANENTLY)
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