|
|
 Elite Veteran
Posts: 823
 
Location: East Texas | New tax rates helped any of ya'll out? It is saving us about $200/ month. I will take it. Every little bit helps. |
|
| |
|
 Elite Veteran
Posts: 928
Location: Northern CA | I saw a $200 difference in my check last month as well. Loving it.... as long as we don't end up owing the difference at the end of the year  |
|
| |
|
 Miss Laundry Misshap
Posts: 5271
| Everyone must make a heck of a lot more than I do. So many people are talking of 100s of $$ they are now making each check. My husband is getting $13 and I'm getting $11. Can't really say that's a huge bonus... |
|
| |
|
 BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | My son and his wife live in Mpls. They are getting $320 more per month, plus they are getting a $400 tax CREDIT....not deduction, so that’s an additional $4000 they won’t have pay in taxes.
All that amounts to about $8000 back in their pocket every year.
They don’t quite pay $10,000 in state taxes, so that remains fully deductible, plus their mortgage is below $500K, so that remains fully deductible.
#MAGA |
|
| |
|
 Take a Picture
Posts: 12838
| Mine is the same to the penny |
|
| |
|
 Undercover Amish Mafia Member
Posts: 9991
Location: Kansas | I believe it was $40 more per paycheck for me so $80 a month. |
|
| |
|
 The best bad guy on the internet
Posts: 3519
Location: Arizona | My paycheck went up about $25 per week. I will take it! |
|
| |
|
Married to a Louie Lover
Posts: 3303
| Should I have seen a change by now? I’m salary paid 2x a month...nadda has changed.
Doesn’t mean I don’t support it - most of what the government does doesn’t affect me in my little bubble, for better or worse. |
|
| |
|
Veteran
Posts: 291
| We don't have much taken out but even we have seen a difference. |
|
| |
|
Industrial Srength Barrel Racer
Posts: 7264
| My check was $90 more for 2 week's worth of pay. |
|
| |
|
Expert
Posts: 2685
| So I get paid hourly and never work the same hours, but after looking... my tax rate on my checks went from 24.2% to 21.6%. So it saves me about $30 per check. Looking at individual taxes taken out it all came from federal. It's exciting but I am also hoping it doen't bite me at the end of the year. I wanted to share some things my tax guy told me when I went this year.
I claim my horses as a business, and I go to school full time, so I also use that on my taxes. He told me the horses will not help me next year, neither will school. He said they are taking away small deductions and giving out large blanket deductions. For example, I will probably be getting married this year  and he said this year is the year to do it because it will go from $12,000 deduction plus whatever for each child to a solid $24,000 deduction across the board no matter if kids are involved or not. That, IMO makes me happy because I no longer have to pay for unemployed ___________ and her 17 kids. Hopefully no one on here is unemployed with 17 kids living off the government... |
|
| |
|
Meanest Teacher!!!
Posts: 8552
Location: sunny california | hurting me. I can't write off the second house interest nor taxes and that house has high taxes. being in california i am losing big on deductions for state and local taxes on my primary property combined with very high income tax. basically the feds are now taxing the taxes i pay! |
|
| |
|
 Elite Veteran
Posts: 1079
Location: MN | It's saving me about $100 bucks a month! I will take that any day of the week! |
|
| |
|
 Some Kind of Trouble
Posts: 4430
| Employers are supposed to change to the new tables by Feb 15, so if you haven't seen a difference, it just may not have happened yet. |
|
| |
|
Take a Picture
Posts: 12838
| I have three different taxable incomes and none have changed |
|
| |
|
 The One
Posts: 7997
Location: South Georgia | Mine has changed by a difference of about $60 net per month. |
|
| |
|
 BHW New Catch of the Day
Posts: 9883
Location: Missouri | I saw a 52.00 increase in my last check. |
|
| |
|
The best bad guy on the internet
Posts: 3519
Location: Arizona | kwanatha - 2018-02-07 7:04 AM
hurting me. I can't write off the second house interest nor taxes and that house has high taxes. being in california i am losing big on deductions for state and local taxes on my primary property combined with very high income tax. basically the feds are now taxing the taxes i pay!
Is your second house a rental? I have three houses and I right off all interest and taxes, one of the three is a rental house. |
|
| |
|
"Heck's Coming With Me"
Posts: 10794
Location: Kansas | Well to reference Nancy Pelosi my "crumbs" amount to $80 a month.
If I had her 100 million I would probably call that crumbs too.
|
|
| |
|
Meanest Teacher!!!
Posts: 8552
Location: sunny california | LIVE2RUN - 2018-02-07 12:20 PM
kwanatha - 2018-02-07 7:04 AM
hurting me. I can't write off the second house interest nor taxes and that house has high taxes. being in california i am losing big on deductions for state and local taxes on my primary property combined with very high income tax. basically the feds are now taxing the taxes i pay!
Is your second house a rental? I have three houses and I right off all interest and taxes, one of the three is a rental house.
not really. i went to visit my son, his wife and my grandchild. they had an apartment on fifth floor the elevator did not work and the stairs had seedy people like drug dealers in it. i was not having that! so I bought a house for them to live in. i was all happy to take the write offs then they pulled the rug out from under me! |
|
| |
|
 Go Your Own Way
Posts: 4947
Location: SE KS | didn't think this took affect until this month - I guess I need to check -.... glad you are all seeing more $$$$$ in your pockets....
|
|
| |
|
 Lived to tell about it and will never do it again
Posts: 5408
| I quit my job January 25th so I guess I won't know if it would have helped me or not. LOL Hubby gets paid salary and we have an extra $50 taken out of each of his 3 checks per month to cover untaxed bonus money that he receives. I will have to see if his are any different. |
|
| |
|
Lived to tell about it and will never do it again
Posts: 5408
| RoaniePonie11 - 2018-02-07 7:41 AM So I get paid hourly and never work the same hours, but after looking... my tax rate on my checks went from 24.2% to 21.6%. So it saves me about $30 per check. Looking at individual taxes taken out it all came from federal. It's exciting but I am also hoping it doen't bite me at the end of the year. I wanted to share some things my tax guy told me when I went this year. I claim my horses as a business, and I go to school full time, so I also use that on my taxes. He told me the horses will not help me next year, neither will school. He said they are taking away small deductions and giving out large blanket deductions. For example, I will probably be getting married this year and he said this year is the year to do it because it will go from $12,000 deduction plus whatever for each child to a solid $24,000 deduction across the board no matter if kids are involved or not. That, IMO makes me happy because I no longer have to pay for unemployed ___________ and her 17 kids. Hopefully no one on here is unemployed with 17 kids living off the government...
So does this mean that all of us that have to claim the winnings from ropings/barrel races won't have claim an income/loss for them? The way it is now we claim fee's, milage, shoeing, feed etc. We also claim all our cattle/farm income/loss. |
|
| |
|
 My Heart Be Happy
Posts: 9159
Location: Arkansas | RoaniePonie11 - 2018-02-07 7:41 AM
So I get paid hourly and never work the same hours, but after looking... my tax rate on my checks went from 24.2% to 21.6%. So it saves me about $30 per check. Looking at individual taxes taken out it all came from federal. It's exciting but I am also hoping it doen't bite me at the end of the year. I wanted to share some things my tax guy told me when I went this year.
I claim my horses as a business, and I go to school full time, so I also use that on my taxes. He told me the horses will not help me next year, neither will school. He said they are taking away small deductions and giving out large blanket deductions. For example, I will probably be getting married this year and he said this year is the year to do it because it will go from $12,000 deduction plus whatever for each child to a solid $24,000 deduction across the board no matter if kids are involved or not. That, IMO makes me happy because I no longer have to pay for unemployed ___________ and her 17 kids. Hopefully no one on here is unemployed with 17 kids living off the government...
Do you claim the horses on Sch C? |
|
| |
|
Veteran
Posts: 174
Location: Wisconsin | Looked at my paycheck today. My federal taxes increased. They are taking $8.70 more. |
|
| |
|
I Am a Snake Killer
Posts: 1927
Location: Golden Gulf Coast of Texas | $70 every two weeks and I already set it up to go into 401k! |
|
| |
|
"Heck's Coming With Me"
Posts: 10794
Location: Kansas | mreklaw - 2018-02-11 8:08 AM $70 every two weeks and I already set it up to go into 401k!
I believe the whole idea was to get your money out there and help others make a living. I'm thinking of using mine to have a housekeeper come in every so often and help me out a bit.
|
|
| |
|
I Am a Snake Killer
Posts: 1927
Location: Golden Gulf Coast of Texas | Frodo - 2018-02-11 2:41 PM
mreklaw - 2018-02-11 8:08 AM $70 every two weeks and I already set it up to go into 401k!
I believe the whole idea was to get your money out there and help others make a living. I'm thinking of using mine to have a housekeeper come in every so often and help me out a bit.
Are you kidding? I’m trying to make sure I can survive in 6 years when I retire. Believe me I already contribute to the economy!!! |
|
| |
Tax Cuts