Should we pray he’s right or are we all confident?
Not that I’ve got a lot of experience with people who will be affected by the new tax laws, I will say this.
The people affected by the “no tax on tips” change know the law exists but have no idea how it’s been implemented, the way I understand it, the tips will still be reported to the IRS, however, the individuals affected will be able to take up to a $25,000 deduction to reclaim a lot of the tips that were taxed during the year.
Most people have no idea the difference between a tax deduction and a tax credit.
Now, that I’ve been drawing social security for about a year and my wife a couple of years longer, the tax deduction for social security will certainly help us.
Hopefully those affected by the no tax on tips and social security deductions, will take the time to find out how to take the deductions and benefit from the tax law changes, if they do, then millions will get much bigger tax refunds.
Pard, I ain’t spending the money yet. Reagan said “Trust but verify “. His acting was fair, great Prez, good philosopher. I won’t buy my new Ram Doge yet. Gosh, I ain’t wore out my ‘95 or 02 Cummins yet. I’ve had them since they were new. All this free money 💩 gets on my old nerves. Regards