The IRS website shows what changed. Tax rates did in fact go down... but
deductions were eliminated and/or capped lower and so that's where the
sticker shock is coming from. Itemized deductions were capped at 10k for
example, if I remember correctly.
Two observations ... a very broad brush summary:
--no longer are people with big mortgages being tax-subsidized by people
with smaller mortgages
--no longer are States with low(er) property taxes tax-subsidizing States
with high(er) property taxes
On Fri, Mar 29, 2019 at 9:57 PM Bill Prince <part15...@gmail.com> wrote:
>
> Bet that smarts.
>
> --
> bp
> part15sbs{at}gmail{dot}com
>
>
> On Fri, Mar 29, 2019 at 6:43 PM Ken Hohhof <af...@kwisp.com> wrote:
>
>> Anal tax?
>>
>>
>>
>> *From:* AF <af-boun...@af.afmug.com> *On Behalf Of *ch...@wbmfg.com
>> *Sent:* Friday, March 29, 2019 6:26 PM
>> *To:* AnimalFarm Microwave Users Group <af@af.afmug.com>
>> *Subject:* Re: [AFMUG] OT: Tax cut my ass...
>>
>>
>>
>> I have a pretty scrupulous CPA and an equally anal tax attorney. If I
>> ever get it trouble it will be a huge surprise.
>>
>>
>>
>> *From:* Ken Hohhof
>>
>> *Sent:* Friday, March 29, 2019 4:57 PM
>>
>> *To:* 'AnimalFarm Microwave Users Group'
>>
>> *Subject:* Re: [AFMUG] OT: Tax cut my ass...
>>
>>
>>
>> There was an article in the paper I think today about how the IRS doesn’t
>> have the staff to go after people who don’t pay their taxes, it used
>> Michael Avenatti as an example.
>>
>> https://www.nytimes.com/2019/03/28/opinion/irs-taxes.html
>>
>>
>>
>> There was also an article online about how the FCC and FTC hardly ever
>> collect any of their fines.
>>
>>
>> https://arstechnica.com/tech-policy/2019/03/fcc-fined-robocallers-208-million-since-2015-but-collected-only-6790/
>>
>>
>>
>> So apparently the answer is just don’t pay your taxes. Heck be like
>> Avenatti and don’t even file.
>>
>>
>>
>>
>>
>> *From:* AF <af-boun...@af.afmug.com> *On Behalf Of *Carl Peterson
>> *Sent:* Friday, March 29, 2019 5:49 PM
>> *To:* AnimalFarm Microwave Users Group <af@af.afmug.com>
>> *Subject:* Re: [AFMUG] OT: Tax cut my ass...
>>
>>
>>
>> Clearly you don't make enough money to deserve a tax cut... I kid. The
>> increase in the standard deduction is great though. Paves the way for a
>> future administration to get rid of the formerly sacred mortgage interest
>> deduction.
>>
>>
>>
>> On Fri, Mar 29, 2019 at 1:26 PM Bill Prince <part15...@gmail.com> wrote:
>>
>>
>>
>> Just got my completed 2018 tax return. I'm kind of stunned. My income
>> went up by 8%, but my tax liability went up by 417%
>>
>>
>>
>>
>> --
>>
>> bp
>>
>> part15sbs{at}gmail{dot}com
>>
>> --
>> AF mailing list
>> AF@af.afmug.com
>> http://af.afmug.com/mailman/listinfo/af_af.afmug.com
>>
>>
>>
>>
>> --
>>
>> Carl Peterson
>>
>> *PORT NETWORKS*
>>
>> 401 E Pratt St, Ste 2553
>>
>> Baltimore, MD 21202
>>
>> (410) 637-3707
>> ------------------------------
>>
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