Tax cut and Jobs act released...... Trillions for the super Rich. (senator, patriot)

[Ponderosa]

Moving expenses are no longer deductible. This was an "above the line" one meaning you did not have to itemize to get it. It is another benefit for average people that disappeared so Apple could keep more.

[skycaller23]

Originally Posted by Ponderosa

Moving expenses are no longer deductible. This was an "above the line" one meaning you did not have to itemize to get it.

and ? How many move every single year to take advantage of that "deduction" ?

Here's a tidbit for you..several of us read the proposal and know about this.
Nothing secret about it.

[serger]

Originally Posted by skycaller23

Only 30% itemize their deductions ..that's less than 1/3 of all filers.
The majority take the standard deduction which is increasing.

Those with higher incomes..$100K and over tend to itemize.

Source: Tax foundation which analyzes the annual IRS data reports.

Personal exemptions are gone, why is it so hard to understand?
So increase in the standard deduction does nothing for anybody with kids.

[pghquest]

Originally Posted by ColoradoOnMyMind

So much disinformation in here. Now the same predictable posters in here are saying small business will suffer from a Tax reduction from 40% to 25%. I would advise not reading this forum if your looking for facts

You really have to read the plan yourself to form an objective opinion on it and ignore all the noise from people pushing their own agendas. If this was a democrat plan many of the people in here would be praising it.

The left just needs reasons to whine, even if its based upon lies..

[pghquest]

Originally Posted by Ponderosa

Moving expenses are no longer deductible. This was an "above the line" one meaning you did not have to itemize to get it. It is another benefit for average people that disappeared so Apple could keep more.

That one shouldnt matter, you guys spent decades telling everyone no one moves to find jobs..

I DID take advantage of this deduction about 8 years ago. I didnt move for the deductible, I moved to lower my cost of living and increase my quality of life..

[skycaller23]

Originally Posted by serger

Personal exemptions are gone, why is it so hard to understand?
So increase in the standard deduction does nothing for anybody with kids.

You get $1600 per kid now instead of $1000.

[skycaller23]

Originally Posted by serger

Personal exemptions are gone, why is it so hard to understand?
So increase in the standard deduction does nothing for anybody with kids.

Because lots on here were crying about the cap and itemized deductions.
Most lower income folks don't itemize so the cap doesn't effect them at all.

[Finn_Jarber]

Originally Posted by pghquest

Dont back peddle on what you said.. stand proud that its the tax code which makes you profitable.. go for it...

Yes, I stand by this: What you hear, and from who, and how you understand it is 100% irrelevant to me.

[pghquest]

Originally Posted by Finn_Jarber

Yes, I stand by this: What you hear, and from who, and how you understand it is 100% irrelevant to me.

its not my fault you think the tax code makes you profitable.. Thats 100% what you said..

[cheyenne2134]

Originally Posted by skycaller23

Only 30% itemize their deductions ..that's less than 1/3 of all filers.
The majority take the standard deduction which is increasing.

Those with higher incomes..$100K and over tend to itemize.

Source: Tax foundation which analyzes the annual IRS data reports.

the middle class and as you know, the middle class has been shrinking.

Only the poor and rich benefit in this country. 100k isn't high, that should be normal