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The Water Cooler
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Senate passes a sweeping Tax Reform Bill.
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<blockquote data-quote="SlugSlinger" data-source="post: 3064119" data-attributes="member: 7248"><p>Of course the rinos will take credit for the passage. At least the media is calling it the Trump tax.</p><p></p><p>I'm going to pull out last years return and compare it to this calculator. One thing is for sure, it's a lot easier to calculate the taxes as compared to the 40 something pages I filed last year.</p><p></p><p>Some interesting things I see in the calculations are you get to write off the following even with the standard deduction, at least the Fox Trump Tax Calculator is doing this:</p><p>Mortgage interest</p><p>Charitable deductions</p><p>State and local income taxes</p><p>Property taxes</p><p></p><p>Previously I believe the only way to see these items as a write off was to itemize. The way the calculator is working, these are in addition to the standard deduction of 12,000 or 24,000, which is a big deal!</p><p></p><p><a href="http://www.foxbusiness.com/politics/2017/12/19/tax-calculator-what-tax-reform-means-for.html" target="_blank">http://www.foxbusiness.com/politics/2017/12/19/tax-calculator-what-tax-reform-means-for.html</a></p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3064119, member: 7248"] Of course the rinos will take credit for the passage. At least the media is calling it the Trump tax. I'm going to pull out last years return and compare it to this calculator. One thing is for sure, it's a lot easier to calculate the taxes as compared to the 40 something pages I filed last year. Some interesting things I see in the calculations are you get to write off the following even with the standard deduction, at least the Fox Trump Tax Calculator is doing this: Mortgage interest Charitable deductions State and local income taxes Property taxes Previously I believe the only way to see these items as a write off was to itemize. The way the calculator is working, these are in addition to the standard deduction of 12,000 or 24,000, which is a big deal! [URL]http://www.foxbusiness.com/politics/2017/12/19/tax-calculator-what-tax-reform-means-for.html[/URL] [/QUOTE]
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The Water Cooler
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Senate passes a sweeping Tax Reform Bill.
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