The Soapbox

Joined: 08/14/1998 Posts: 567
Likes: 905

What's this?

LOL, no suite, but my VAF contribution 80% deduction went away...

My wife and I are just normal, W-2 employees working for large corporations. We both use our cars for work (me more than her) and the elimination of the business mileage deduction hurt big time.

Fair point regarding when we paid the overall tax bill and whether that was higher or lower than last year. Obviously, overall tax withholding was decreased with the new tax laws with a slight increase in take home pay, but I don't have the figures in front of me regarding what my overall tax payments were in 2018 versus 2017. My guess is they are up slightly due to increased income, but due to the loss of deductions my overall tax bill was higher. But I can tell you that anyone, like me, who uses their car for work (like salespeople, service techs, home health care providers, etc.) and took advantage of the business mileage deduction took a big hit on their taxes.

I'm curious now and will check the overall numbers for 2017 versus 2018 when I get home tonight.

(In response to this post by Hoodafan)

Posted: 04/15/2019 at 3:39PM

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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

Yes, but not because of Trump or Obama. It's because of me. ** -- Hokieesith 04/15/2019 1:30PM

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Where did you get that? More creative posting huh? ** -- Hokieesith 04/15/2019 1:44PM

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No biggie. ** -- Hokieesith 04/15/2019 2:02PM

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My tax bill got bigger. Thanks Trump! ** -- Hood 04/15/2019 1:15PM

I doubt that, but if so, you would be in a very tiny minority. ** -- Hoodafan 04/15/2019 1:24PM

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Thanks for the lesson on MY personal finances, but you're wrong... -- WahooKid 04/15/2019 2:59PM

So you can't deduct your suite at Scott anymore? :-) -- Hoodafan 04/15/2019 3:14PM

LOL, no suite, but my VAF contribution 80% deduction went away... -- WahooKid 04/15/2019 3:39PM

Come join us common deplorables in the cheap seats in Hooville! -- Hoodafan 04/15/2019 4:34PM

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