The Soapbox

Hoodafan

Joined: 09/29/2013 Posts: 60597
Likes: 57052


So you can't deduct your suite at Scott anymore? :-)


And if you're talking about business expenses on an LLC or Sub S you have, you should be getting a 20% reduction on that income vs what that would've been under the old code. If you're hitting caps on deductibility or having them reduced because 7.5% or whatever floor is changed because your income went up, well that wouldn't be because of the code changes. (I'm sure there are other areas where that was changed, but again those would be unique, not the "norm")

Again, I'm not doubting that yours (or Hood's) went up, only doubting that this applies to more than a small minority of taxpayers.

BTW my comment about what you paid on 4/15 being irrelevant was only because tax withholding tables were changed to be more accurate predictors than past tables. So whether you paid less throughout the year, and more on 4/15 (or vice versa), is irrelevant in determining whether your taxes went down or not, just when you paid them. I've seen many make that comment (but unlike what you posted re: take home) as if that means they paid more taxes overall, when in reality they just had less withheld throughout the year and the net paid was still lower.

(In response to this post by WahooKid)

Posted: 04/15/2019 at 3:14PM



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Current Thread:
 
  
Goldman: Trump wins in 2020 -- Hoos Operator 04/15/2019 12:41PM
  Are you better off now than you were 4 yrs ago. -- Hoodafan 04/15/2019 1:07PM
  Nope. ** -- Seattle .Hoo 04/15/2019 1:26PM
  I can think of about a thousand or so who are -- Tafkam Hokie 04/15/2019 9:50PM
  If you feel you are worse off, it's your fault. ** -- Hokieesith 04/15/2019 1:35PM
  But if you're better off, it's because of Trump. Got it. ** -- southdenverhoo 04/15/2019 1:37PM
  Where did you get that? More creative posting huh? ** -- Hokieesith 04/15/2019 1:44PM
  No biggie. ** -- Hokieesith 04/15/2019 2:02PM
  Not Trump's fault you moved to Tacoma. :-) ** -- Hoodafan 04/15/2019 1:30PM
  There are other reasons. ** -- Seattle .Hoo 04/15/2019 1:37PM
  My tax bill got bigger. Thanks Trump! ** -- Hood 04/15/2019 1:15PM
  The country is not better off. -- hooshouse 04/15/2019 1:10PM
  Not even close. -- DanTheFan 04/15/2019 1:17PM
  LOL! We'll see what the voters think, I guess. ** -- Hoodafan 04/15/2019 1:23PM
  Bet your house on it HO. Please. ** -- WaxHoo 04/15/2019 12:46PM
  Don't bet yours Wax. I'd hate to see you show up hat in hand on -- hoolstoptheheels 04/15/2019 1:17PM
  For a 2020 Natty, I'll take it. ** -- hoolstoptheheels 04/15/2019 1:37PM
  Trust me, I won't ** -- WaxHoo 04/15/2019 1:24PM
  What does one win when they bet their house Waxie? ** -- Hoos Operator 04/15/2019 1:17PM
  Ask the bookies in Vegas ** -- WaxHoo 04/15/2019 1:25PM
  HoosWillWin: HoosWillWin does win the lottery in 2020. -- HoosWillWin 04/15/2019 12:46PM

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