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Old 12-20-2017, 10:43 AM
 
13 posts, read 11,607 times
Reputation: 10

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What if you're:

- working full-time at a crap job

- single AND childless

- DO NOT own a home


The calculators don't tell me much; I just want to know how screwed I am.
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Old 12-20-2017, 10:57 AM
 
3,305 posts, read 3,869,313 times
Reputation: 2592
Some now, more later.

But that's okay, private jet owners don't need to pay as much. It'll trickle down, they promised.
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Old 12-20-2017, 11:16 AM
 
13 posts, read 11,607 times
Reputation: 10
*sigh* I was kind of hoping for a real answer.
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Old 12-20-2017, 11:37 AM
 
Location: TN
110 posts, read 192,566 times
Reputation: 235
So, if your only income is from your job (i.e. no stocks, mutual funds etc.) then you will probably take the standard deduction. For a single filer the standard deduction is $12,000. If you have no other deductions (IRA or the like) then subtract 12,000 from your gross pay and then multiply that number by your tax bracket percentage. That will give you a rough number of how much your tax bill will be.
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Old 12-20-2017, 12:07 PM
 
Location: New Jersey and hating it
12,199 posts, read 7,227,282 times
Reputation: 17473
Quote:
Originally Posted by Skiffle View Post
*sigh* I was kind of hoping for a real answer.
You will pay less taxes. The standard deduction has now doubled to $24,000.
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Old 12-20-2017, 12:44 PM
 
Location: TN
110 posts, read 192,566 times
Reputation: 235
Quote:
Originally Posted by antinimby View Post
You will pay less taxes. The standard deduction has now doubled to $24,000.
You are correct that the OP will pay less taxes. One correction though, the $24,000 standard deduction is for married filing jointly. The OP stated he/she is single so his/her standard deduction would be $12,000.
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Old 12-20-2017, 02:04 PM
 
Location: Philly
702 posts, read 540,466 times
Reputation: 973
Quote:
Originally Posted by Skiffle View Post
*sigh* I was kind of hoping for a real answer.

You're hoping for a real answer but you didn't tell us how much you make?


Okay.
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Old 12-20-2017, 02:12 PM
 
462 posts, read 550,302 times
Reputation: 437
Answer is it depends. You might save a bit, but it won't make you rich, you might be able to have dinner at a nice restaurant with your windfall
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Old 12-20-2017, 02:17 PM
 
3,305 posts, read 3,869,313 times
Reputation: 2592
Quote:
Originally Posted by Skiffle View Post
*sigh* I was kind of hoping for a real answer.
Real answers require real numbers.
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Old 12-20-2017, 02:41 PM
 
19,128 posts, read 25,336,687 times
Reputation: 25434
Quote:
Originally Posted by jaymoney View Post
Some now, more later.
But that's okay, private jet owners don't need to pay as much. It'll trickle down, they promised.

Owners of golf courses will also get a YUGE tax break.
Can anyone think of a person who owns his own jet, as well as multiple golf courses?
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