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Is that Wall Street Journal article on tax plan real? If so it's completely 180

The whole thing is great. See: http://xoxohth.com/thread....
henna school
  11/02/17
I'm still LOLing at lawcucks getting pwned meanwhile, I h...
dull haunting field
  11/02/17
law-cucks didn't get owned brother. Their overall taxes w...
henna school
  11/02/17
they aren't getting the pass-through benefit so I disagree w...
dull haunting field
  11/02/17
Associates will all benefit. Fuck partners. And how are ...
henna school
  11/02/17
c-corps aren't pass through entities, bro. s-corps are. I'll...
dull haunting field
  11/02/17
ah C-corp. Are you going to call everything profit? Your...
henna school
  11/02/17
I don't think that far ahead. that's what my accountant is f...
dull haunting field
  11/02/17
LMFAO "won't bother me, I filed a couple pieces of p...
Canary Tattoo Hell
  11/02/17
dumb here. what's so great about it?
irradiated nibblets jap
  11/02/17
Tax brackets are lowered. Keep 401ks. Keep state deduction...
henna school
  11/02/17
so UMCs not fucked?
irradiated nibblets jap
  11/02/17
what does it do to the death tax? does it repeal the AMT?
Blue senate
  11/02/17
estate tax cap gone in 6 years, exemption doubled for now. ...
henna school
  11/02/17
87654321235676543212345678765432345
Blue senate
  11/02/17
yeah the entire thing is completely 180
henna school
  11/02/17
freedom cuckus and blue state House Republicans better not f...
Blue senate
  11/02/17
I'm not even sure what dems won't like except the state dedu...
henna school
  11/02/17
naw everyone likes this
Tan Motley Forum Partner
  11/02/17
I read this in Mark Renton's voice.
Clear useless brakes
  11/02/17
...
histrionic step-uncle's house
  11/02/17
The article said state and local property tax, not income
Impertinent racy box office trump supporter
  11/02/17
AMT is rapepwned is the part i'm excited about i am pissed ...
At-the-ready state
  11/02/17
lol, jesus dude you have a childlike grasp of this stuff
Canary Tattoo Hell
  11/02/17
can someone c/p the whole thing? thank.
Soul-stirring Magenta Keepsake Machete
  11/02/17
https://www.cnbc.com/2017/11/02/house-republicans-unveil-tax...
henna school
  11/02/17
We have ~$300K HHI in a high COL state. Wagecucks, mortgage....
irradiated nibblets jap
  11/02/17
LOL @ sociopaths who ask what's best for them instead of wha...
Blue senate
  11/02/17
so does it help me or not? serious q
irradiated nibblets jap
  11/02/17
UMC W2cucks in million dollar homes are going to get boned a...
dull haunting field
  11/02/17
For a million dollar loan it's only like $6-$7k more a year ...
henna school
  11/02/17
...
stimulating cruise ship
  11/02/17
...
Red Garrison
  11/02/17
Your income from $90k-$260k is only capped at 25%. The next...
henna school
  11/02/17
seems cr DINK with HHI ~330k, i'd have about 43k in deducti...
Spruce Brunch
  11/02/17
No you’re getting fucked. Chances are your mortgage is more...
sooty vivacious affirmative action
  11/02/17
fuck.
irradiated nibblets jap
  11/02/17
Eh not on $300 income. Depends on his interest payments
henna school
  11/02/17
Also, even though you'll get a slightly lower marginal tax r...
Greedy Brindle Heaven Pocket Flask
  11/02/17
So everyone loses the exemptions, but the standard deductio...
boyish space
  11/02/17
We are getting fucked hardcore. It is like ~$50-60k of dedu...
sooty vivacious affirmative action
  11/02/17
It can't be that much. You can still deduct interest for ...
henna school
  11/02/17
I was talking more about state tax deduction. I paid $50k i...
sooty vivacious affirmative action
  11/02/17
Jfc California
rough-skinned boistinker
  11/02/17
180
lake public bath lettuce
  11/02/17
For most high-income wage earners who pay a lot of state and...
Odious Office
  11/02/17
Property values in pricey areas will get raped too.
Medicated locale round eye
  11/02/17
As much as I’d like for that to be the case, mortgage rates ...
sooty vivacious affirmative action
  11/02/17
This is a mixed blessing.
Umber address mediation
  11/02/17
180
Red Garrison
  11/02/17
only applies to homes purchased after the bill. old homes ke...
Big Fishy Parlour
  11/02/17
fucking scum boomers.
boyish space
  11/02/17
Didn't the article say the mortgage interest change was only...
Umber address mediation
  11/02/17
(Boomer who will never ever move)
Medicated locale round eye
  11/02/17
how much does this add to the deficit?
Heady lemon sandwich
  11/02/17
1.5T i think
At-the-ready state
  11/02/17
So everyone gets what they want except high end homebuilders...
silver bull headed people who are hurt
  11/02/17
I’m eyeing the housing market in DC and NYC and Boston and C...
Dun arousing library kitty cat
  11/02/17
I think taxes may be raised upper middle class on people in ...
henna school
  11/02/17
lmao @ earl
Claret Sanctuary
  11/02/17
...
Appetizing Plaza
  11/02/17
Yeah a chance of higher rate but no amt... can't tell how it...
silver bull headed people who are hurt
  11/02/17
And there's a tax break for poors, middle class, and your in...
henna school
  11/02/17
Investments? You mean the pass through stuff or did they do ...
silver bull headed people who are hurt
  11/02/17
Corporate taxes
henna school
  11/02/17
So I get double standard deduction at 12,700, instead of the...
Cobalt 180 market ape
  11/02/17
Probably. But this wasn't about cutting taxes for upper mid...
henna school
  11/02/17
I get that, just trying to figure out the impact on me.
Cobalt 180 market ape
  11/02/17
This is confusing as hell, but I assume it will fuck me har...
boyish space
  11/02/17
yes it's grandfathered in. But to be fair, it was people ...
henna school
  11/02/17
So on one hand, the cap on the interest deduction will not...
boyish space
  11/02/17
Don't you have to pay the AMT?
henna school
  11/02/17
I sure did.
boyish space
  11/02/17
That'll be gone
henna school
  11/02/17
Major Trumpmo here. I'm getting fucked under this deal.
Wine Dashing Haunted Graveyard Tank
  11/02/17
how so?
irradiated nibblets jap
  11/02/17
SALT. S Corp pass thru taxation (although I didn't see this,...
Wine Dashing Haunted Graveyard Tank
  11/02/17
How would the S-corp thing hurt you? It can only help
henna school
  11/02/17
Revenue would be taxed twice, no?
Wine Dashing Haunted Graveyard Tank
  11/02/17
It's pass through same as before.
silver bull headed people who are hurt
  11/02/17
'pass-through' *drools*
Canary Tattoo Hell
  11/02/17
Lawyer? Doesn't sound like S Corp is changing for you.
silver bull headed people who are hurt
  11/02/17
Nice! Still going to get boned on SALT though.
Wine Dashing Haunted Graveyard Tank
  11/02/17
State your income and state
henna school
  11/02/17
NY. Property taxes are 15k. Income is idk because I just joi...
Wine Dashing Haunted Graveyard Tank
  11/02/17
Income tax rate will be lowered a good bit
henna school
  11/02/17
Is there a cap on property tax deductions which is separate ...
boyish space
  11/02/17
property tax deduction would fall under state and local tax ...
cerebral duck-like boiling water station
  11/02/17
lol so $10K total? Fuck my ass kyle.
boyish space
  11/02/17
It's separate, to answer your question. You get the interest...
silver bull headed people who are hurt
  11/02/17
PROPERTY TAX. You get zero state tax deduction as I read i...
Impertinent racy box office trump supporter
  11/02/17
...
Tan Motley Forum Partner
  11/02/17
looks like capped at 10k but who knows where that ends up p...
Spruce Brunch
  11/02/17
is it capped separately or is state income tax + property ta...
boyish space
  11/02/17
All SALT (including property) deductions capped at $10k. ...
henna school
  11/02/17
...
excitant iridescent university deer antler
  11/02/17
State and local is capped at $10k total.
cerebral duck-like boiling water station
  11/02/17
AMT is gone but it's a red herring. You'll never get close t...
Greedy Brindle Heaven Pocket Flask
  11/02/17
(Guy who doesn’t have oil and gas assets or rental propertie...
dull haunting field
  11/02/17
business expenses taken through an S or C corp are not itemi...
boyish space
  11/02/17
Right, but all this shrieking about itemized deductions gett...
dull haunting field
  11/02/17
not small businesses.
boyish space
  11/02/17
Anti trump person here. I make out like a bandit with these ...
Passionate Meetinghouse
  11/02/17
Nah shitlibs in SF, LA, and MFH are paying up so it won't ad...
henna school
  11/02/17
I could get behind this if he’d stop with the tantrums and h...
Passionate Meetinghouse
  11/02/17
So last year I paid $35,000 in state income tax, $10,000 in ...
boyish space
  11/02/17
Youll still be able to deduct most of that mortgage interest...
henna school
  11/02/17
This is the fuck homeowners in first tier metro areas bill. ...
cerebral duck-like boiling water station
  11/02/17
These are people that deserve to be fucked, i.e. shitlibs. ...
henna school
  11/02/17
Our states usually pay out more in federal taxes than we tak...
cerebral duck-like boiling water station
  11/02/17
Good. This federal spending is shitlibs' doing. Strip it. Ma...
At-the-ready state
  11/02/17
lol get fucked
ivory selfie cuckold
  11/02/17
enjoy!
Spruce Brunch
  11/02/17
(New states rights activist)
Impertinent racy box office trump supporter
  11/02/17
...
Bat shit crazy beady-eyed new version
  11/02/17
...
Tan Motley Forum Partner
  11/02/17
Those guys need to get fucked. I am ok with this.
glittery stage chad
  11/02/17
then don't fucking live in the NYC suburbs if you can't affo...
snowy indian lodge reading party
  11/02/17
...
Tan Motley Forum Partner
  11/02/17
Now you’re subsidizing corporations AND poors.
disturbing arrogant volcanic crater area
  11/02/17
(tax welfare queen)
insecure comical trailer park
  11/02/17
is it mortgage interest for homes up to 500K, or mortgage in...
Dark curious pit
  11/02/17
Mortgage
henna school
  11/02/17
This definitely helps with future purchases (for current hom...
Umber address mediation
  11/02/17
Trump has a good heart.
Clear useless brakes
  11/02/17
Does it take effect for 2017 taxes?
bossy orchid gas station dog poop
  11/02/17
no way it's retroactive, would fuck up withholding penalties...
Spruce Brunch
  11/02/17
Damn BORING
bossy orchid gas station dog poop
  11/02/17
loling at all the blue state republican like Nutella who tho...
cracking plum philosopher-king
  11/02/17
Not a Trumpmo, but TBF, this shit delivers for the middle cl...
adventurous indecent set
  11/02/17
not really. the simplification is great, but it adds to the ...
insecure comical trailer park
  11/02/17
lol debtcucks you're all gonna starve
Fragrant Harsh House Scourge Upon The Earth
  11/02/17


Poast new message in this thread



Reply Favorite

Date: November 2nd, 2017 11:48 AM
Author: henna school

The whole thing is great.

See: http://xoxohth.com/thread.php?thread_id=3783214&mc=25&forum_id=2#34586561

Edit: CNBC article: https://www.cnbc.com/2017/11/02/house-republicans-unveil-tax-reform-plan.html

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587449)



Reply Favorite

Date: November 2nd, 2017 11:51 AM
Author: dull haunting field

I'm still LOLing at lawcucks getting pwned

meanwhile, I have a c-corp already in use I can migrate everything into and probably shave 5-10% off



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587483)



Reply Favorite

Date: November 2nd, 2017 11:52 AM
Author: henna school

law-cucks didn't get owned brother.

Their overall taxes will go down

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587488)



Reply Favorite

Date: November 2nd, 2017 11:53 AM
Author: dull haunting field

they aren't getting the pass-through benefit so I disagree with this, at least for the higher end lawlers

most lawlers are flat broke so this will benefit them for sure

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587501)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: henna school

Associates will all benefit. Fuck partners.

And how are you getting pass through benefit? Did you read the thing on S-corps? They aren't treating people like you as corps and taxing you normal income rate

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587518)



Reply Favorite

Date: November 2nd, 2017 11:56 AM
Author: dull haunting field

c-corps aren't pass through entities, bro. s-corps are. I'll close my s-corp and migrate everything into my c-corp which has a max 20% rate instead of the current 35%

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587536)



Reply Favorite

Date: November 2nd, 2017 11:56 AM
Author: henna school

ah C-corp.

Are you going to call everything profit? Your salary will be taxed twice.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587538)



Reply Favorite

Date: November 2nd, 2017 11:58 AM
Author: dull haunting field

I don't think that far ahead. that's what my accountant is for ;)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587555)



Reply Favorite

Date: November 2nd, 2017 4:47 PM
Author: Canary Tattoo Hell

LMFAO

"won't bother me, I filed a couple pieces of paper with the secretary of state and I'm a tax mitigating masterman, soooooo smart!"

"hey you know your salary gets hit twice and you have to dick around with your dividends and..."

"whoa whoa whoa hey buddy I let the accountants handle the math, ya know?"

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589939)



Reply Favorite

Date: November 2nd, 2017 11:53 AM
Author: irradiated nibblets jap

dumb here. what's so great about it?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587494)



Reply Favorite

Date: November 2nd, 2017 11:54 AM
Author: henna school

Tax brackets are lowered. Keep 401ks. Keep state deductions up to $10k. Keep mortgage interest rate deduction up to $500k worth of loan. Doubled standard deduction.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587506)



Reply Favorite

Date: November 2nd, 2017 11:54 AM
Author: irradiated nibblets jap

so UMCs not fucked?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587513)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: Blue senate

what does it do to the death tax? does it repeal the AMT?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587517)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: henna school

estate tax cap gone in 6 years, exemption doubled for now. AMT gone

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587523)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: Blue senate

87654321235676543212345678765432345

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587528)



Reply Favorite

Date: November 2nd, 2017 11:57 AM
Author: henna school

yeah the entire thing is completely 180

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587539)



Reply Favorite

Date: November 2nd, 2017 11:57 AM
Author: Blue senate

freedom cuckus and blue state House Republicans better not fuck this up

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587546)



Reply Favorite

Date: November 2nd, 2017 11:59 AM
Author: henna school

I'm not even sure what dems won't like except the state deduction cap

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587568)



Reply Favorite

Date: November 2nd, 2017 4:32 PM
Author: Tan Motley Forum Partner

naw everyone likes this

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589792)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: Clear useless brakes

I read this in Mark Renton's voice.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587530)



Reply Favorite

Date: November 2nd, 2017 1:54 PM
Author: histrionic step-uncle's house



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588597)



Reply Favorite

Date: November 2nd, 2017 12:49 PM
Author: Impertinent racy box office trump supporter

The article said state and local property tax, not income

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588062)



Reply Favorite

Date: November 2nd, 2017 3:37 PM
Author: At-the-ready state

AMT is rapepwned is the part i'm excited about

i am pissed SALT is still in, it's a fucking handout from red states to blue states, fed gov needs to stop subsidizing cali's bs

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589350)



Reply Favorite

Date: November 2nd, 2017 4:50 PM
Author: Canary Tattoo Hell

lol, jesus dude

you have a childlike grasp of this stuff

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589972)



Reply Favorite

Date: November 2nd, 2017 11:57 AM
Author: Soul-stirring Magenta Keepsake Machete

can someone c/p the whole thing? thank.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587545)



Reply Favorite

Date: November 2nd, 2017 11:57 AM
Author: henna school

https://www.cnbc.com/2017/11/02/house-republicans-unveil-tax-reform-plan.html

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587549)



Reply Favorite

Date: November 2nd, 2017 11:59 AM
Author: irradiated nibblets jap

We have ~$300K HHI in a high COL state. Wagecucks, mortgage. Does this plan help us?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587566)



Reply Favorite

Date: November 2nd, 2017 12:00 PM
Author: Blue senate

LOL @ sociopaths who ask what's best for them instead of what's best for America

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587574)



Reply Favorite

Date: November 2nd, 2017 12:01 PM
Author: irradiated nibblets jap

so does it help me or not? serious q

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587578)



Reply Favorite

Date: November 2nd, 2017 12:02 PM
Author: dull haunting field

UMC W2cucks in million dollar homes are going to get boned and end up paying more. nobody cares about you.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587588)



Reply Favorite

Date: November 2nd, 2017 12:13 PM
Author: henna school

For a million dollar loan it's only like $6-$7k more a year in taxes for the FIRST year. Get less every year after that

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587671)



Reply Favorite

Date: November 2nd, 2017 5:37 PM
Author: stimulating cruise ship



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590320)



Reply Favorite

Date: November 2nd, 2017 12:47 PM
Author: Red Garrison



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588039)



Reply Favorite

Date: November 2nd, 2017 12:01 PM
Author: henna school

Your income from $90k-$260k is only capped at 25%. The next $40k is at 35%. It should help.

But if you are in a huge state taxes state it will probably hurt a tad

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587586)



Reply Favorite

Date: November 2nd, 2017 12:16 PM
Author: Spruce Brunch

seems cr

DINK with HHI ~330k, i'd have about 43k in deductions under the current system and if a couple of assumptions are correct (e.g. personal exemption disappearing), looks like reasonable worst case under new system is that i owe an additional 1.5-2.5k if i didn't itemize, but i probably would still be able to itemize so knock off another 1k or so from that. NBD

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587697)



Reply Favorite

Date: November 2nd, 2017 12:18 PM
Author: sooty vivacious affirmative action

No you’re getting fucked. Chances are your mortgage is more than $500k and your SALT deductions are way over $10k.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587725)



Reply Favorite

Date: November 2nd, 2017 12:21 PM
Author: irradiated nibblets jap

fuck.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587773)



Reply Favorite

Date: November 2nd, 2017 12:25 PM
Author: henna school

Eh not on $300 income. Depends on his interest payments

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587817)



Reply Favorite

Date: November 2nd, 2017 12:26 PM
Author: Greedy Brindle Heaven Pocket Flask

Also, even though you'll get a slightly lower marginal tax rate, you're losing the $4,000 in personal exemptions you currently get.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587829)



Reply Favorite

Date: November 2nd, 2017 12:29 PM
Author: boyish space

So everyone loses the exemptions, but the standard deduction is doubled for poors.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587877)



Reply Favorite

Date: November 2nd, 2017 12:40 PM
Author: sooty vivacious affirmative action

We are getting fucked hardcore. It is like ~$50-60k of deductions going away. Elimination of AMT will help somewhat to soften the blow but not nearly enough.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587981)



Reply Favorite

Date: November 2nd, 2017 12:48 PM
Author: henna school

It can't be that much. You can still deduct interest for loan amount up to $500.

Thats like $22,000 a year in interest deduction you lose for your first year of loan. Goes down every year after that.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588049)



Reply Favorite

Date: November 2nd, 2017 1:18 PM
Author: sooty vivacious affirmative action

I was talking more about state tax deduction. I paid $50k in state taxes last year.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588306)



Reply Favorite

Date: November 2nd, 2017 10:39 PM
Author: rough-skinned boistinker

Jfc California

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592468)



Reply Favorite

Date: November 2nd, 2017 1:52 PM
Author: lake public bath lettuce

180

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588575)



Reply Favorite

Date: November 2nd, 2017 11:23 PM
Author: Odious Office

For most high-income wage earners who pay a lot of state and local income taxes, itemized deductions weren't as valuable as they looked. AMT and Pease walked most of it back unless your circumstances were unusual. So this bill is probably closer to neutral for you than you think.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592838)



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Date: November 2nd, 2017 12:39 PM
Author: Medicated locale round eye

Property values in pricey areas will get raped too.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587971)



Reply Favorite

Date: November 2nd, 2017 12:42 PM
Author: sooty vivacious affirmative action

As much as I’d like for that to be the case, mortgage rates themselves and all cash buyers rather than mortgage interest deduction will keep things inflated.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588002)



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Date: November 2nd, 2017 5:06 PM
Author: Umber address mediation

This is a mixed blessing.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590075)



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Date: November 2nd, 2017 5:09 PM
Author: Red Garrison

180

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590106)



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Date: November 2nd, 2017 12:59 PM
Author: Big Fishy Parlour

only applies to homes purchased after the bill. old homes keep 1mil deduction

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588145)



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Date: November 2nd, 2017 1:01 PM
Author: boyish space

fucking scum boomers.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588153)



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Date: November 2nd, 2017 5:05 PM
Author: Umber address mediation

Didn't the article say the mortgage interest change was only for newly purchased homes?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590069)



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Date: November 2nd, 2017 10:43 PM
Author: Medicated locale round eye

(Boomer who will never ever move)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592495)



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Date: November 2nd, 2017 12:01 PM
Author: Heady lemon sandwich

how much does this add to the deficit?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587579)



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Date: November 2nd, 2017 3:40 PM
Author: At-the-ready state

1.5T i think

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589376)



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Date: November 2nd, 2017 12:05 PM
Author: silver bull headed people who are hurt

So everyone gets what they want except high end homebuilders? That has to fuck the budget in its ass, right?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587607)



Reply Favorite

Date: November 2nd, 2017 12:09 PM
Author: Dun arousing library kitty cat

I’m eyeing the housing market in DC and NYC and Boston and California.

All those 1.5 million shitshacks are going to take a tumbling. Which is great for me when I move back to the US.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587640)



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Date: November 2nd, 2017 12:10 PM
Author: henna school

I think taxes may be raised upper middle class on people in NY and California but fuck them.

Except no more AMT i think so maybe not

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587647)



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Date: November 2nd, 2017 12:12 PM
Author: Claret Sanctuary

lmao @ earl

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587664)



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Date: November 2nd, 2017 12:17 PM
Author: Appetizing Plaza



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587704)



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Date: November 2nd, 2017 12:18 PM
Author: silver bull headed people who are hurt

Yeah a chance of higher rate but no amt... can't tell how it'll work out.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587713)



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Date: November 2nd, 2017 12:20 PM
Author: henna school

And there's a tax break for poors, middle class, and your investments

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587756)



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Date: November 2nd, 2017 12:26 PM
Author: silver bull headed people who are hurt

Investments? You mean the pass through stuff or did they do something with cap gains?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587833)



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Date: November 2nd, 2017 12:28 PM
Author: henna school

Corporate taxes

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587856)



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Date: November 2nd, 2017 12:24 PM
Author: Cobalt 180 market ape

So I get double standard deduction at 12,700, instead of the 26000, or so local tax deduction. But also, AMT goes away and I probably get a slight reduction based on the bracket shrinkage. So I'm what, dead even?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587814)



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Date: November 2nd, 2017 12:25 PM
Author: henna school

Probably. But this wasn't about cutting taxes for upper middle class

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587822)



Reply Favorite

Date: November 2nd, 2017 12:27 PM
Author: Cobalt 180 market ape

I get that, just trying to figure out the impact on me.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587849)



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Date: November 2nd, 2017 12:26 PM
Author: boyish space

This is confusing as hell, but I assume it will fuck me hard.

Is the mortgage interest deduction grandfathered in? The cap on deducting state taxes will really fuck me because I think I pay something like $30,000 in state taxes.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587842)



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Date: November 2nd, 2017 12:28 PM
Author: henna school

yes it's grandfathered in.

But to be fair, it was people like you who GOP was trying to fuck. 99% of them are shitlibs.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587862)



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Date: November 2nd, 2017 12:30 PM
Author: boyish space

So on one hand, the cap on the interest deduction will not affect my current home, but it may hurt the sale price when I eventually sell it. It will not be available when I buy my more expensive next time in five years, but it may contribute to the place being lowered.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587891)



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Date: November 2nd, 2017 12:33 PM
Author: henna school

Don't you have to pay the AMT?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587916)



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Date: November 2nd, 2017 12:34 PM
Author: boyish space

I sure did.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587926)



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Date: November 2nd, 2017 12:39 PM
Author: henna school

That'll be gone

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587972)



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Date: November 2nd, 2017 12:30 PM
Author: Wine Dashing Haunted Graveyard Tank

Major Trumpmo here. I'm getting fucked under this deal.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587893)



Reply Favorite

Date: November 2nd, 2017 12:31 PM
Author: irradiated nibblets jap

how so?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587902)



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Date: November 2nd, 2017 12:33 PM
Author: Wine Dashing Haunted Graveyard Tank

SALT. S Corp pass thru taxation (although I didn't see this, I'm just gleaning from the comments here).

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587918)



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Date: November 2nd, 2017 12:35 PM
Author: henna school

How would the S-corp thing hurt you? It can only help

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587928)



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Date: November 2nd, 2017 12:36 PM
Author: Wine Dashing Haunted Graveyard Tank

Revenue would be taxed twice, no?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587943)



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Date: November 2nd, 2017 12:37 PM
Author: silver bull headed people who are hurt

It's pass through same as before.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587950)



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Date: November 2nd, 2017 4:54 PM
Author: Canary Tattoo Hell

'pass-through'

*drools*

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589990)



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Date: November 2nd, 2017 12:36 PM
Author: silver bull headed people who are hurt

Lawyer? Doesn't sound like S Corp is changing for you.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587946)



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Date: November 2nd, 2017 12:37 PM
Author: Wine Dashing Haunted Graveyard Tank

Nice! Still going to get boned on SALT though.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587953)



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Date: November 2nd, 2017 12:32 PM
Author: henna school

State your income and state

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587909)



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Date: November 2nd, 2017 12:35 PM
Author: Wine Dashing Haunted Graveyard Tank

NY. Property taxes are 15k. Income is idk because I just joined a small firm as a partner on a purely eat what you kill arrangement. Probably 175k-200k paid to my s corp from the partnership next year

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587935)



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Date: November 2nd, 2017 12:40 PM
Author: henna school

Income tax rate will be lowered a good bit

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587977)



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Date: November 2nd, 2017 12:38 PM
Author: boyish space

Is there a cap on property tax deductions which is separate from the mortgage tax deduction? I just realize that if they get rid of the alternative minimum tax, I may be able to start deducting my property taxes again which would be nice.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587960)



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Date: November 2nd, 2017 12:40 PM
Author: cerebral duck-like boiling water station

property tax deduction would fall under state and local tax deduction which I think is now capped at $10k under this plan.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587985)



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Date: November 2nd, 2017 12:43 PM
Author: boyish space

lol so $10K total? Fuck my ass kyle.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588006)



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Date: November 2nd, 2017 12:45 PM
Author: silver bull headed people who are hurt

It's separate, to answer your question. You get the interest deduction plus 10k of local/ state/ property tax.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588027)



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Date: November 2nd, 2017 12:54 PM
Author: Impertinent racy box office trump supporter

PROPERTY TAX. You get zero state tax deduction as I read it

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588094)



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Date: November 2nd, 2017 5:16 PM
Author: Tan Motley Forum Partner



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590165)



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Date: November 2nd, 2017 12:41 PM
Author: Spruce Brunch

looks like capped at 10k but who knows where that ends up

prop tax, SALT, and mtg interest all seem like candidates to get tweaked between now and a vote

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587993)



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Date: November 2nd, 2017 12:44 PM
Author: boyish space

is it capped separately or is state income tax + property tax capped at $10K together?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588017)



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Date: November 2nd, 2017 12:47 PM
Author: henna school

All SALT (including property) deductions capped at $10k.

Pay up shitlibs

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588038)



Reply Favorite

Date: November 2nd, 2017 7:21 PM
Author: excitant iridescent university deer antler



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591071)



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Date: November 2nd, 2017 12:47 PM
Author: cerebral duck-like boiling water station

State and local is capped at $10k total.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588043)



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Date: November 2nd, 2017 12:43 PM
Author: Greedy Brindle Heaven Pocket Flask

AMT is gone but it's a red herring. You'll never get close to hitting AMT now. Basically, the only itemized deductions that will be left are up to $10k per year on property taxes, interest on $500k mortgages, and charitable donations. That's it.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588005)



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Date: November 2nd, 2017 12:44 PM
Author: dull haunting field

(Guy who doesn’t have oil and gas assets or rental properties)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588013)



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Date: November 2nd, 2017 12:45 PM
Author: boyish space

business expenses taken through an S or C corp are not itemized deductions.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588023)



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Date: November 2nd, 2017 12:51 PM
Author: dull haunting field

Right, but all this shrieking about itemized deductions getting axed is solved by my previous post

Businesses (especially real estate) are getting preferential treatment. Wagecucks are getting boned.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588079)



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Date: November 2nd, 2017 1:10 PM
Author: boyish space

not small businesses.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588236)



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Date: November 2nd, 2017 12:40 PM
Author: Passionate Meetinghouse

Anti trump person here. I make out like a bandit with these cuts. Moving to the south was a great move. LOL at suburban NY Trumpmos about to get crushed.

Not sure it’s wise to be adding so much to the deficit but at least I’m getting my piece.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587978)



Reply Favorite

Date: November 2nd, 2017 12:45 PM
Author: henna school

Nah shitlibs in SF, LA, and MFH are paying up so it won't add to deficit. Fuck yeah

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588020)



Reply Favorite

Date: November 2nd, 2017 1:02 PM
Author: Passionate Meetinghouse

I could get behind this if he’d stop with the tantrums and hiring all these hacks.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588167)



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Date: November 2nd, 2017 12:53 PM
Author: boyish space

So last year I paid $35,000 in state income tax, $10,000 in property taxes, and something like $8,000 or $9,000 in AMT. Also deducted $24,000 in mortgage interest.

Sounds like I am fucked...

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588087)



Reply Favorite

Date: November 2nd, 2017 12:59 PM
Author: henna school

Youll still be able to deduct most of that mortgage interest. The longer you've had it and less the loan is over $500k the more youll still get to deduct.

You will go from $69,000 in deductions to probably like $25,000-$30k, which would be about $14k extra in taxes but the AMT elimination makes up for a lot of that disparity and your actual income tax will be lowered.

You'll pay like $5k more maybe.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588144)



Reply Favorite

Date: November 2nd, 2017 1:03 PM
Author: cerebral duck-like boiling water station

This is the fuck homeowners in first tier metro areas bill. $10k+ is the norm just for property taxes in NYC suburbs, let alone state income tax. A slight reduction in rates isn't going to make up for all of that.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588178)



Reply Favorite

Date: November 2nd, 2017 1:09 PM
Author: henna school

These are people that deserve to be fucked, i.e. shitlibs.

They can pay for all the shit they demand for minorities and poors.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588225)



Reply Favorite

Date: November 2nd, 2017 1:24 PM
Author: cerebral duck-like boiling water station

Our states usually pay out more in federal taxes than we take in. This makes the disparity even worse.

https://people.howstuffworks.com/which-states-give-the-most-the-federal-government-which-get-the-most.htm

"Henchman is a Californian himself and understands why his Golden State neighbors grumble about subsidizing federal aid programs in other states. For one thing, large amounts of federal spending allow red state governments to keep their taxes artificially low. The highest individual state income tax rate in Mississippi and Alabama in 2016 was 5 percent, while top-earners in California and New York paid 13.3 percent and 8.82 percent respectively."

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588356)



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Date: November 2nd, 2017 4:12 PM
Author: At-the-ready state

Good. This federal spending is shitlibs' doing. Strip it. Maybe they'll stop voting for shitlib stuff, and maybe it'll make rapetiles realize they need to spend a little more to keep there from being a billion homeless twinks in alabama.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589611)



Reply Favorite

Date: November 2nd, 2017 5:38 PM
Author: ivory selfie cuckold

lol get fucked

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590328)



Reply Favorite

Date: November 2nd, 2017 5:41 PM
Author: Spruce Brunch

enjoy!

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590345)



Reply Favorite

Date: November 2nd, 2017 6:02 PM
Author: Impertinent racy box office trump supporter

(New states rights activist)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590494)



Reply Favorite

Date: November 2nd, 2017 7:23 PM
Author: Bat shit crazy beady-eyed new version



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591082)



Reply Favorite

Date: November 2nd, 2017 7:58 PM
Author: Tan Motley Forum Partner



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591268)



Reply Favorite

Date: November 2nd, 2017 1:55 PM
Author: glittery stage chad

Those guys need to get fucked. I am ok with this.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588598)



Reply Favorite

Date: November 2nd, 2017 3:43 PM
Author: snowy indian lodge reading party

then don't fucking live in the NYC suburbs if you can't afford the taxes. or stop electing shitlibs who get the taxes to those levels in the first place.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589397)



Reply Favorite

Date: November 2nd, 2017 4:14 PM
Author: Tan Motley Forum Partner



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589626)



Reply Favorite

Date: November 2nd, 2017 5:09 PM
Author: disturbing arrogant volcanic crater area

Now you’re subsidizing corporations AND poors.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590101)



Reply Favorite

Date: November 2nd, 2017 11:39 PM
Author: insecure comical trailer park

(tax welfare queen)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592981)



Reply Favorite

Date: November 2nd, 2017 1:10 PM
Author: Dark curious pit

is it mortgage interest for homes up to 500K, or mortgage interest for mortgage up to 500K?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588237)



Reply Favorite

Date: November 2nd, 2017 1:14 PM
Author: henna school

Mortgage

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588265)



Reply Favorite

Date: November 2nd, 2017 5:13 PM
Author: Umber address mediation

This definitely helps with future purchases (for current homeowners).

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590140)



Reply Favorite

Date: November 2nd, 2017 1:13 PM
Author: Clear useless brakes

Trump has a good heart.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588249)



Reply Favorite

Date: November 2nd, 2017 3:16 PM
Author: bossy orchid gas station dog poop

Does it take effect for 2017 taxes?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589176)



Reply Favorite

Date: November 2nd, 2017 3:28 PM
Author: Spruce Brunch

no way it's retroactive, would fuck up withholding penalties and a bunch of other things. at this point they'll be lucky if they get it done in time for 2018

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589268)



Reply Favorite

Date: November 2nd, 2017 3:44 PM
Author: bossy orchid gas station dog poop

Damn BORING

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589404)



Reply Favorite

Date: November 2nd, 2017 3:47 PM
Author: cracking plum philosopher-king

loling at all the blue state republican like Nutella who thought they were going to save some cash. Fuck em!

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589418)



Reply Favorite

Date: November 2nd, 2017 3:52 PM
Author: adventurous indecent set

Not a Trumpmo, but TBF, this shit delivers for the middle class

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589461)



Reply Favorite

Date: November 2nd, 2017 11:40 PM
Author: insecure comical trailer park

not really. the simplification is great, but it adds to the deficit bigly to fund massive cuts for corps and pass-through businesses. the ultra rich are going to make out like bandits.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592994)



Reply Favorite

Date: November 2nd, 2017 7:24 PM
Author: Fragrant Harsh House Scourge Upon The Earth

lol debtcucks you're all gonna starve

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591086)