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A little off topic, but how do some of you do your taxes so early? It always seems to take until late February for me to get all the forms in the mail. And then they always send "corrections" later (usually after I filed, sometimes well after April 15).
I have my W2, but none of my 1099s or my 1098. It occurred to me that I could always try to calculate what will be on the other forms myself since I file electronically and don't need to send paper forms. For those who've completed taxes already, is this how you do it?
I expect to pay more (but not a whole lot/close to break even), at least based on the calculators the Trump Campaign published when he was running for office.
All of our income is w-2 , my 1099-iNT is negligible. Surprisingly our both of our jobs sent w-2 early this year.
It depends on where you live. If you live in a state that has high state and local taxes, you'll pay more because your SALT deduction is limited to $10,000, so you'll pay tax on state and local taxes above that amount.
For example. I used to live in IL. The real estate tax on my home was $19,000+/year. Only $10,000 of that is tax deductible and my state income tax wouldn't be deductible at all, so if I still lived in IL and still owned that home, I'd be paying much more in taxes than I did before the tax cut.
Haven't done my taxes yet but am expecting to get caught in that situation. In which case it might be better to take the standard deduction, which is now $24,000 for a couple.
I know very well it was only an attempt to buy me so they can give much larger sums to corporations.
OP surely you have figured out that the US is an oligopoly with freedom of speech. The oligarchs rule and let you say what you want, knowing they will get 80% of what they want because neither you nor I matter. The 20% they lose simply is not worth going full North Korea over. Bullets are too much drama.
Congress is bought and paid for.
Would you rather make less so the rich make less??
I don't understand the need for people to concern themselves with how much others make.
LOL!!! OAC thinks 70% is appropriate. Of course, if you take 70% of ones earnings, what's the point in putting forth the effort? Forget starting a business. Why would you?
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