To: C19fan
So before you were able to deduct the taxes you paid to state and local governments and now you can’t? Is that what this is about? It seems you’d lose some deductions and pay more tax on your income.
4 posted on
09/27/2017 12:18:29 PM PDT by
SkyDancer
( ~ Just Consider Me A Random Fact Generator ~)
To: SkyDancer
I would hope this also means not having to pay taxes on state tax refunds.
7 posted on
09/27/2017 12:20:46 PM PDT by
knittnmom
To: SkyDancer
So before you were able to deduct the taxes you paid to state and local governments and now you can’t? Is that what this is about? It seems you’d lose some deductions and pay more tax on your income.
Probably not.
I'm from California, and I itemize every year. The increase in personal deductions and increase in child deductions should offset the loss of the state taxes deduction.
11 posted on
09/27/2017 12:23:37 PM PDT by
SoConPubbie
(Mitt and Obama: They're the same poison, just a different potency)
To: SkyDancer
True. In Michigan we have a benefit from IRS for paying state taxes. Guess it is a deduction. Sure helps. Doubling the standard deduction would help, too, though. Tough on a fixed income.
Making the system more fair would be good. There are not too many of us that actually PAY taxes anymore.
16 posted on
09/27/2017 12:24:08 PM PDT by
madison10
(Praying for President Trump and more wisdom for him)
To: SkyDancer
The bill also doubles the personal exemption to cover this, but high tax States won’t be covered even by that doubling.
114 posted on
09/27/2017 2:00:53 PM PDT by
CodeToad
(Victorious warriors WIN first, then go to war! Go TRUMP!!!)
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