wrong - the deduction for taxes - state, property, sales, etc. was capped at $10K. If itemized deductions were capped at $10K there would be a lot of unhappy campers out there!
> On Mar 31, 2019, at 8:03 PM, justsumname <[email protected]> wrote: > > The IRS website shows what changed. Tax rates did in fact go down... but > deductions were eliminated and/or capped lower and so that's where the > sticker shock is coming from. Itemized deductions were capped at 10k for > example, if I remember correctly. > > Two observations ... a very broad brush summary: > > --no longer are people with big mortgages being tax-subsidized by people with > smaller mortgages > --no longer are States with low(er) property taxes tax-subsidizing States > with high(er) property taxes > > > > On Fri, Mar 29, 2019 at 9:57 PM Bill Prince <[email protected] > <mailto:[email protected]>> wrote: > > Bet that smarts. > > -- > bp > part15sbs{at}gmail{dot}com > > > On Fri, Mar 29, 2019 at 6:43 PM Ken Hohhof <[email protected] > <mailto:[email protected]>> wrote: > Anal tax? > > > > From: AF <[email protected] <mailto:[email protected]>> On Behalf > Of [email protected] <mailto:[email protected]> > Sent: Friday, March 29, 2019 6:26 PM > To: AnimalFarm Microwave Users Group <[email protected] > <mailto:[email protected]>> > Subject: Re: [AFMUG] OT: Tax cut my ass... > > > > I have a pretty scrupulous CPA and an equally anal tax attorney. If I ever > get it trouble it will be a huge surprise. > > > > From: Ken Hohhof > > Sent: Friday, March 29, 2019 4:57 PM > > To: 'AnimalFarm Microwave Users Group' > > Subject: Re: [AFMUG] OT: Tax cut my ass... > > > > There was an article in the paper I think today about how the IRS doesn’t > have the staff to go after people who don’t pay their taxes, it used Michael > Avenatti as an example. > > https://www.nytimes.com/2019/03/28/opinion/irs-taxes.html > <https://www.nytimes.com/2019/03/28/opinion/irs-taxes.html> > > > There was also an article online about how the FCC and FTC hardly ever > collect any of their fines. > > https://arstechnica.com/tech-policy/2019/03/fcc-fined-robocallers-208-million-since-2015-but-collected-only-6790/ > > <https://arstechnica.com/tech-policy/2019/03/fcc-fined-robocallers-208-million-since-2015-but-collected-only-6790/> > > > So apparently the answer is just don’t pay your taxes. Heck be like Avenatti > and don’t even file. > > > > > > From: AF <[email protected] <mailto:[email protected]>> On Behalf > Of Carl Peterson > Sent: Friday, March 29, 2019 5:49 PM > To: AnimalFarm Microwave Users Group <[email protected] > <mailto:[email protected]>> > Subject: Re: [AFMUG] OT: Tax cut my ass... > > > > Clearly you don't make enough money to deserve a tax cut... I kid. The > increase in the standard deduction is great though. Paves the way for a > future administration to get rid of the formerly sacred mortgage interest > deduction. > > > > On Fri, Mar 29, 2019 at 1:26 PM Bill Prince <[email protected] > <mailto:[email protected]>> wrote: > > > > Just got my completed 2018 tax return. I'm kind of stunned. My income went up > by 8%, but my tax liability went up by 417% > > > > > > -- > > bp > > part15sbs{at}gmail{dot}com > > -- > AF mailing list > [email protected] <mailto:[email protected]> > http://af.afmug.com/mailman/listinfo/af_af.afmug.com > <http://af.afmug.com/mailman/listinfo/af_af.afmug.com> > > > > -- > > Carl Peterson > > PORT NETWORKS > > 401 E Pratt St, Ste 2553 > > Baltimore, MD 21202 > > (410) 637-3707 > > -- > AF mailing list > [email protected] <mailto:[email protected]> > http://af.afmug.com/mailman/listinfo/af_af.afmug.com > <http://af.afmug.com/mailman/listinfo/af_af.afmug.com>-- > AF mailing list > [email protected] <mailto:[email protected]> > http://af.afmug.com/mailman/listinfo/af_af.afmug.com > <http://af.afmug.com/mailman/listinfo/af_af.afmug.com> > -- > AF mailing list > [email protected] <mailto:[email protected]> > http://af.afmug.com/mailman/listinfo/af_af.afmug.com > <http://af.afmug.com/mailman/listinfo/af_af.afmug.com> > -- > AF mailing list > [email protected] > http://af.afmug.com/mailman/listinfo/af_af.afmug.com
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