Nov 12, 2018
5:12:07am
5:12:07am
PSA: New tax changes for 2018 with tax season coming up
-Standard deduction for a married couple goes from $12,700 to $24,.000.
-Tax rate drops across the board. Around 3% for the middle class earners. Slightly less for the wealthy... which most of CB is.
Child tax credit doubles from $1k to $2k. Now you have no excuse to buy those season tickets next year.
-Corporate tax rate drops from 35% to 21%.
-State and Local Tax (SALT) deductions are lowered to $10k for the cap. This is bad for those of you living in higher taxed states.
In the end we should all do much better on our taxes this year. And the income tax brackets being lowered have already taken affect when the latest tax bill was passed...though the amount may have just seemed like "crumbs". But they are your crumbs, yours savings.
-Tax rate drops across the board. Around 3% for the middle class earners. Slightly less for the wealthy... which most of CB is.
Child tax credit doubles from $1k to $2k. Now you have no excuse to buy those season tickets next year.
-Corporate tax rate drops from 35% to 21%.
-State and Local Tax (SALT) deductions are lowered to $10k for the cap. This is bad for those of you living in higher taxed states.
In the end we should all do much better on our taxes this year. And the income tax brackets being lowered have already taken affect when the latest tax bill was passed...though the amount may have just seemed like "crumbs". But they are your crumbs, yours savings.
Originally posted on Nov 12, 2018 at 5:12:07am
Message modified by jrifkin48 on Nov 12, 2018 at 5:28:48am
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11/12/18 5:12am
11/12/18 5:20am
11/12/18 6:52am
11/12/18 6:16am
11/12/18 7:14am
Yay for defecit growth!!! -Every responsible millennial who hates that they will end up paying for this crap
11/12/18 8:29am
11/12/18 10:49am
11/13/18 5:06am