Still deductible. But the standard deduction went up meaning fewer

Report problem with this ad

Nov 14, 2018
5:23:39pm

garyfan All-American

people will itemize. And there are some new limits on the deductibility (i.e., cannot deduct interest on HELOC).

Report problem with this ad

garyfan

Bio page: garyfan
Joined: Sep 19, 2013
Last login: Apr 29, 2024
Total posts: 37,615 (3,853 FO)

Report problem with this ad

Messages

Author

Time

PSA: New tax changes for 2018 with tax season coming up

jrifkin48

11/12/18 5:12am

I had forgotten about the Child tax credit being increased

BulldogCoug79

11/12/18 5:20am

And by a $1000k. BYU Football needs to slip that into their season ticket ads

jrifkin48

11/12/18 5:26am

<< Deleted >>

supertux

11/12/18 5:31am

Is the child tax credit a refundable credit?

demon_llama

11/12/18 6:05am

Yes.

AeroCoug

11/12/18 6:11am

The refundable amount is $1400 though.

kcca

11/12/18 6:52am

One important change with the Child Tax Credit,

AeroCoug

11/12/18 6:06am

The tax changes were too sweeping and not what you'd expect from a fiscally

fbguru

11/12/18 6:37am

It’s a spending problem not a revenue problem. Unfortunately, I don’t believe

kcca

11/12/18 8:08am

And we the people are to blame. We all expect OUR congressman to bring $ home

jrifkin48

11/12/18 9:25am

2/3 of Federal Spending goes to SS, Medicare and Medicaid (mandated programs)

memento

11/12/18 9:38am

Every medicare expansion program seems to easily pass through both politicians

fbguru

11/12/18 10:25am

And don't forget interest on the national debt. In a few years that will cost

demon_llama

11/12/18 6:19pm

Will the SALT cap of $10k be raised in the future? That one sucks for me.

rainorsnow

11/12/18 6:16am

It’s called the “move to Nevada” cap.

Sandstone Cougar

11/12/18 8:01am

Also alimony will no longer be deductible after this year

coolcats

11/12/18 6:25am

Thanks for posting this stuff.

boogers

11/12/18 6:39am

Hypothetically speaking, if I make next to nothing and have 1 kid. Does that

Powerbait DPM studnt

11/12/18 6:49am

$1,400

rggee

11/12/18 7:49am

Additional PSA - Tax loss harvest now

memento

11/12/18 7:14am

And don’t forget the 20% small business pass through deduction!

shokupanmanbo

11/12/18 7:20am

I haven’t yet gotten any saving from the lower brackets. That will come to me at

garyfan

11/12/18 7:41am

And the best one is the 20% pass through— but make sure you keep taxable income

Sandstone Cougar

11/12/18 8:02am

Yay for defecit growth!!! -Every responsible millennial who hates that they will end up paying for this crap

monkeycowboy

11/12/18 8:29am

Yep. Time to exceed tax cuts with spending cuts!

boogers

11/12/18 8:48am

Starting now, 1T annual budget deficits going forward. Early 80’s, the natl debt

MatthiasG

11/12/18 10:49am

With a gridlock government maybe we won't approve anyone's pet projects

jrifkin48

11/12/18 12:11pm

Deficit growth rate has been REDUCED since Trump took office

AZ Coug

11/12/18 6:04pm

Doesn't Understand taxes and Economics^^^^^^^^. How about Congress tighten their

CObluezone

11/13/18 5:08am

Why I vote Republican every election, without fail. GOP!!!

CObluezone

11/13/18 5:06am

You forgot a big change: elimination of personal exemptions

El Paso Coug

11/13/18 4:08pm

Most people here are probably in the 22% bracket. The upped child credit

molodyets

11/13/18 4:17pm

Morrgsge interest not deducted either right?

CarolinaCoug

11/14/18 5:11pm

Still deductible. But the standard deduction went up meaning fewer

garyfan

11/14/18 5:23pm

To optimize you should alternate years when using the standard deduction

BYU'01

11/29/18 12:58pm

They still dinging people for not having health insurance?

Posting on CougarBoard