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That is just common sense to check the withholding tables, whether with change in the tables or an increase in pay, from pay boost or taking on a part time job to get ahead. Silly not to check them.
Quote:
Originally Posted by Mikala43
"But for many taxpayers, they will need to assess whether the new tables really are withholding enough money so that they’re not saddled with a big bill when they file their taxes next year."
That is just common sense to check the withholding tables, whether with change in the tables or an increase in pay, from pay boost or taking on a part time job to get ahead. Silly not to check them.
Of course it is. It's also silly to say that 90% will get more money, and not acknowledge that 90% will not be the number who get it when you look at the net number at the end of the year.
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There was nothing close to a final tax bill in September. The tax bill was signed in December. Lots of changes between those 3 months. Forbes spoke December 15th and said this:
GOP tax bill has drastically improved: Steve Forbes
Of course it is. It's also silly to say that 90% will get more money, and not acknowledge that 90% will not be the number who get it when you look at the net number at the end of the year.
90% could save money on their taxes. Whether people properly withhold the right amount is the question. That happens every year to lots of people. If someone withholds an amount equal to 10% tax savings but their reduction in taxes is 7% at the end of the year and they have to pay the IRS that 3%. They still saved money. But to you that is a tax increase.
But keep looking at that glass half empty. It seems to be how the left looks at everything nowadays.
Why is everyone hurrahing a tax cut if you get $20 bucks in your paycheck but will pay 15 of that when you file your taxes? The concept is the same, the numbers will vary.
.
Because I won't owe at filing time.
I am projecting via widely available tax liability tables, which is what we all truly pay.
2018 will be 17% lower liability for me vs 2017. How I split it, paycheck time vs April 15, is not relevant.
I'll be waiting to see. Honestly curious to see the impact. I've gotten so many different 'net results'.
As for the temporary tax cuts for individuals ....the point that many Americans make is not objecting to some Americans seeing more money, less taxes... From what I understand the objections/criticism is the tax cuts for individuals are temporary, while the significant tax cuts for corporations is permanent. That makes no sense...and the tax cuts for corporations come at a time when corporations are enjoying (for the most part) or have been enjoying some good profits without the tax cuts.
Not sure my interpretation of the objections is accurate but that's what my bubble looks like.
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