taxes - Page 5 - The HuntingPA.com Outdoor Community
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post #41 of 81 (permalink) Old 03-24-2019, 10:04 AM
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Yes. More take home in my monthly retirement check. Refund on par with previous years.

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post #42 of 81 (permalink) Old 03-24-2019, 03:23 PM
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The idea behind allowing the deduction of mortgage interest and property tax deductions for a homeowner is there to assist in bolstering home ownership instead of paying rent forever. When people buy a home there is economic activity in spending on new stoves, refrigerators, microwave ovens, dishwashers, carpet, paint etc.

You can agree with that kind of tax policy or not. The fact is the reduction of federal income taxes does play a key role in both 1st time home buying and subsequent step-up's to perceived better homes.
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post #43 of 81 (permalink) Old 03-24-2019, 07:11 PM
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Quote:
Originally Posted by Dave2pa View Post
The Salt deductions should be completely eliminated ,, income tax should be based solely on income ,, the SALT cap is a start .
If so for the little individual taxpayer........same should go for large corporate/flow through real estate holding companies in places such as NYC & Palm Beach County, FL deducting millions of real estate taxes. IRC Section 164 should be totally eliminated from the IRC or capped for ALL: https://www.law.cornell.edu/uscode/text/26/164

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post #44 of 81 (permalink) Old 03-24-2019, 07:56 PM
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so, did they help YOU?
no they did not
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post #45 of 81 (permalink) Old 03-24-2019, 09:18 PM
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I got hammered

Camp life,it don't get much better!
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post #46 of 81 (permalink) Old 03-25-2019, 08:23 PM
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yes!
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post #47 of 81 (permalink) Old 03-26-2019, 07:13 AM
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Quote:
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did the new tax laws help you for 2018?

yes


no
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Originally Posted by Birch812 View Post
Was almost a push. SALT cap hurt my wife and I on the deductions/return. Had more bi-weekly but nothing that equated to what we lost from our refund check.
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Originally Posted by bucksnort1 View Post
No. Had to pay for the first time in over 20 years.
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no they did not
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I got hammered
Yep....more & more are really getting "hammered". Even moreso as tax filing season moves toward home stretch. It's unprecedented for the IRS to publish 2 Notices during an ongoing tax season....one just this past week(IR-2019-55) relaxing underpayment of tax penalties being certainly indicative of what's going on nationwide. To blame this solely on underwithholding vs SALT, exemption elimination etc is unfounded.
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post #48 of 81 (permalink) Old 03-26-2019, 07:19 AM
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My tax person showed me what Id make under this Trump tax if nothing changed and I got a nice bump.

9-11-01 SOME GAVE SOMETHING. 343 GAVE ALL F.D.N.Y.
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post #49 of 81 (permalink) Old 03-26-2019, 08:35 AM
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helped me with both my paycheck and return. check was only minor but our return was up significantly. the average return is actually up ever so slightly over last year, as of the 15th.
https://www.fool.com/taxes/2019/03/2...r-in-2019.aspx

Last edited by schappellt; 03-26-2019 at 08:40 AM.
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post #50 of 81 (permalink) Old 03-26-2019, 09:12 AM
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I paid more in taxes, but yes the new tax law helped me.
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