Posted on 11/20/2017 4:42:05 PM PST by SkyPilot
The percentage of federal individual income tax filers claiming a deduction for state and local taxes paid in 2015, ranked by state:
1. Maryland: 45.7 percent
2. Connecticut: 41.3 percent
3. New Jersey: 41.2 percent
4. Virginia: 37.3 percent
5. Massachusetts: 36.9 percent
6. Oregon: 36.0 percent
7. Utah: 35.3 percent
8. Minnesota: 34.7 percent
9. New York: 34.5 percent
10. California: 34.4 percent
11. Georgia: 32.8 percent
12. Rhode Island: 32.8 percent
13. Colorado: 32.5 percent
14. Delaware: 31.6 percent
15. Illinois: 31.3 percent
16. Wisconsin: 31.0 percent
17. New Hampshire: 30.9 percent
18. Washington: 29.9 percent
19. Iowa: 29.5 percent
20. Hawaii: 29.1 percent
21. North Carolina: 29.0 percent
22. Pennsylvania: 28.6 percent
23. Arizona: 28.4 percent
24. Montana: 28.2 percent
25. Idaho: 28.0 percent
26. Maine: 27.6 percent
27. Nebraska: 27.6 percent
28. South Carolina: 27.3 percent
29. Vermont: 27.3 percent
30. Michigan: 26.5 percent
31. Missouri: 26.1 percent
32. Ohio: 26.1 percent
33. Kentucky: 26.0 percent
34. Alabama: 25.8 percent
35. Kansas: 25.5 percent
36. Nevada: 24.6 percent
37. Oklahoma: 24.0 percent
38. Mississippi: 23.3 percent
39. Louisiana: 23.0 percent
40. Texas: 22.8 percent
41. Indiana: 22.8 percent
42. Florida: 22.5 percent
43. New Mexico: 22.5 percent
44. Arkansas: 22.3 percent
45. Wyoming: 21.6 percent
46. Alaska: 21.4 percent
47. Tennessee: 19.3 percent
48. North Dakota: 18.5 percent
49. West Virginia: 17.0 percent
50. South Dakota: 16.9 percent
District of Columbia: 39.8 percent
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(Excerpt) Read more at abcnews.go.com ...
You’re the guy who doesn’t know how to make money in the market without paying cap gains tax. Not me.
Under Finance Committee Plan, a Typical Family of Four Will See Tax Bill Drop by Nearly 60 percent
http://www.freerepublic.com/focus/f-news/3606900/posts
I’m sure he’s a good guy. A good conservative. He’s just not a financial planner in any way. :)
Who cares? 10 cents on the dollar is ALL that they get. What they do with that is entirely up to them, but that is ALL that they get, period.
Time for the feds to learn how to balance a checkbook.
Of course, all of that has now changed, due to computer trading and computer programs, which is one of reasons this Bull Market is a sham, built on hot air.
OTOH... You are calling dealing in commodities ( FUTURES ),"options, which they are NOT! And YOU claim that YOU can "teach" me, about this stuff? Good grief...you even have your terminology completely wrong! No wonder you don't understand my posts and why YOUR posts are such a mess!
Oh for crying out loud...you’re just SO wrong and in the dark! LOL
You don’t understand derivitives trading for a hedge. It is a different thing than selling physicals. Sure it is derivitives on oil and gas or you couldn’t do fasb accounting for it. Hedging gas involves more than options. I mean you can do it to some degree with options, but it’s a bad way to do it. Kinda rookie.
Again, based on your own comments...... And I can paste them if you like.... You don’t know how to make money in the market without paying cap gains tax on the trade.
I’m looking for a place where we can agree and separate as friends. I will concede that your original assessment of the proposed tax plan ..... That it will hurt you financially..... I will concede that you are correct. It will probably hurt you. Sorry for that.
Come on oh "expert", who doesn't even know the difference between an OPTION and a FUTURE; tell me more! LOL
And I know what "hedging" means.
So now you've gone from Investing for retirement, to investing to replace tax deductions, to back to IRAs and 401Ks, to all of this drivel!
Thanks SO much for the laugh riot! hehehehehe
As if you know me personally and what I’ve lived on for almost my entire life. Oh the irony! LOl
I’ve been posting here a long time. If I’m referring to a particular poster regarding an issue or responding to them, I include them. But I don’t see it necessary to ping the founder of the website every time we mention his name. If he deems it so then fine with me.
Unlike far too many here, I don't like that it IS going to hurt others whom I don't even know! THAT'S WHAT CONSERVATISM IS SUPPOSED TO STAND FOR!
A "TAX CUT" bill is supposed to be a CUT for EVERYONE; not just for a few, not depending on where they live, and NOT gaming the Bill so that some make out like the thieves and bandits they ares! The latter groups being the HUGE corporations and those who get money from the GOV, who don't pay into it at all!
And since you claim that you just keep rolling over your account, there will be a time when you or your beneficiaries will have to pay taxes on that( if you're dead, yes, they WILL have to pay DEATH TAXES on what you leave, even IF they don't sell anything! )at some point in time. And before you say that DEATH TAXES are being done away with...do, PLEASE read up on that; that's another bait & switch POS in these Bills!
Look...I don't have a mortgage, don't have any minor children living with me, nor am I taking care of an aged parent/s, don't have any loans, but you don't see ME screaming about those who have/had these deductions, as some here keep screaming about SALT. Nor have I put anyone down for where they live; whether I would NEVER dream of living there, under ANY circumstances, or not!
This isn't "personal" for me ( though yes, I'll no doubt get shafted by this POS thing, as written ); it's the PRINCIPLE!
We weren't ever "friends", but we can be civil and you can stop with the condescension. DEAL?
Actually, 401(k) withdrawals are taxable income.
Hmmmm, just like all of those people who dove out of high windows in October 1929.
It’s actually a covert spending bill to try to close the deficit on that $4T budget outline for reconciliation. Hence, the funky numbers on individual and pass-through income.
Withdrawals are, but trades in it are not taxable. You can trade as often as the plan will allow without incurring tax. And after leaving the company you can roll it over to a brokerage account and trade daily if you like, without owing taxes.
A margin account is required for most option trading. But you don’t have to trade on margin. Btw... How many jumped out of windows in 1929?
Ssshhhhhhhhhhhhhh... he doesn’t know that, but then, he’s “the expert”. LOL
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