Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Brown Deer

I’m not in a high tax state. Ohio is average. The issue is not getting a bracket break plus losing the personal exemption. I’ll let you know on Apr 15 how they actually construct the bracket numbers. I expect to pay approx 2500 more unless I’m doing the math wrong


389 posted on 11/02/2017 3:31:15 PM PDT by xzins (Retired US Army chaplain. Support our troops by praying for their victory. L)
[ Post Reply | Private Reply | To 387 | View Replies ]


To: xzins
Well the easy part is true about the new tax plan.

Get your old 2016 1040 out. Take line 38 AGI and subtract $24,000. I am assuming a joint filer account and your schedule B amount works out to be < $24,000(my Sch. B is < $24K). This is your new taxable income. Go to the tax table and calculate your tax or do the bracket math yourself.

Easy to figure out.

If you have a kid(s) you might, maybe, possily get a $1,000 tax credit per kid.

392 posted on 11/02/2017 3:41:02 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 389 | View Replies ]

To: xzins

Youre doing the math wrong.


397 posted on 11/02/2017 4:44:50 PM PDT by Boardwalk
[ Post Reply | Private Reply | To 389 | View Replies ]

To: xzins
I’m not in a high tax state. Ohio is average

Per the tax foundation, 19 of 51. They include DC. As I've noted on this and other threads, among the higher tax states, like WI, MI, IA, MO that it would be convenient for Republicans to win. If we hadn't last election, and tax cuts were an issue just like health care replacement and a wall, we'd be discussing President Hillary's tax the rich proposal. Not going to check your math, but if enough of your Ohio neighbors share your conclusion, not good. The Dem line that the bill provides tax benefits for the rich, and even the "rich", that's true. Which is OK.

402 posted on 11/02/2017 5:22:03 PM PDT by SJackson (The Pilgrims—Doing the jobs Native Americans wouldn’t do !)
[ Post Reply | Private Reply | To 389 | View Replies ]

To: xzins

probably doing the math wrong...

https://waysandmeansforms.house.gov/uploadedfiles/bill_text.pdf


410 posted on 11/02/2017 6:44:55 PM PDT by Brown Deer (America First!)
[ Post Reply | Private Reply | To 389 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson