POST YOUR TAX SAVINGS THREAD#2

taxplancalculator.com

Married, filing jointly, two children.
Income: $77,000
State: Arizona

See pic related.

Post your results in this thread, include your filing status and income so we can compare how it affects different situations around the nation in different states and scenarios.

I save over $2,100 in the Senate plan.

NOTE: If you are in a situation where you get the Earned Income Tax Credit, or any other scenario where you typically receive a larger "refund" than what you paid then this calculator doesn't work for you. Gibsmedats need not apply.

>Gibsmedats need not apply.

Top kek. So does anyone know if those people's money stays the same. I didn't hear anything about EITC being repealed so they still get their gibs from what I understand.

I believe this new tax plan gives back to those who pay their fair share, but punishes those that dont (wellfare leeches) that is mainly why the left is so butthurt. God forbid we help the average working american and not tyrone and shanqua with their 20 niglets

noice

Yay, I saved 299..

i'm happy

I don't think it punishes welfare leeches, it just doesn't give them "additional gibs"

Who am I kidding, they consider that being punished due to their jealousy

Saves me about $1200. Any savings is good. Fuck income tax.

...

296 4 me
Still happy
That's 296 for the year that I can use for the next holiday or put back into my savings account

guess i am a nigger

I can now hire a decent hooker with my savings. Thanks D.T.!

Yeah you'll need to talk to an accountant or tax preparer to find your actual tax return amounts

I thought we were supposed to be paying more under the new tax bill?

Seems to be grad students and people who live in shitty states that are the ones for which the outlook is less comfy. The other people winding up in the red by and large are not far enough into in to the red compared to their income for it to really matter from what I've seen.

So if I dont live in a dem shithole Im okay? fuck yeah

p. much. I'm in the $2k club. No game changer for me, but that's a pretty nice present for a lot of people.

Why are you turning your nose up at 2 extra grand in savings? That's over two months of rent for me.

why is the senate plan so much shittier, is it more gibsmedats to poverty people?

They stuffed it with carve outs to buy votes at the last minute, hopefully it gets smoothed out in conference.

That's over two months rent for me as well. It's just that I already live comfortably with no debt, so it doesn't mean as much to me. If I were in my 20s getting started and got +$2k I'd be head over heels about it.

I'm absolutely ecstatic and I only stand to save just over a thousand. This is exactly why I voted for him

save 800$ with house 600 with senate

I was hoping Joe Average would get even more out of the plan actually, but this is honestly not too bad. I forgot the tax plan was in the final stages, and it was certainly a pleasant surprise for a way to start the day.

Physics PhD student here - the situation is basically this: the House version of the bill proposes making tuition waivers taxable income, the Senate version doesn't. So depending on how the bill reconciliation goes next week it may or may not end up in the final version of the bill. I'm cautiously optimistic it'll get left out of the final version, it's not a top priority for Republican lawmakers and it can be leveraged as an easy bargaining chip to gain support from Democrats for higher priority reforms.

The concern is that under the current system, universities count waivers as part of employee payroll, rather than simply not charging us the tuition in the first place (you know, because that would make sense). So the concern is that someone like me who gets a stipend of ~$18K a year is going to suddenly owe taxes for an "income" of like $50-60K.

Basically I'm going to end up either owing or being owed an extra $400-500 this year. Just have to wait and see how it turns out.

>and it can be leveraged as an easy bargaining chip to gain support from Democrats for higher priority reforms.

Pretty sure no democrats voted for it so that's a moot point.

Super dumb of them to just boycott instead of trying to influence the bill, but hey that's dumbocrats for ya

If it stays I'm hoping universities adapt appropriately. I think it's high time for another congressional investigation into the anti-American activities of the tax-free foundations for that matter. There's probably some fat to be trimmed for universities in order to keep the game going.

Point is, they have to go through a whole negotiation process they've got to go through to put the final bill together to send to Trump, and politicians with bigger priorities will use it as a bargaining chip to make sure the shit they really care about gets in.

I only make $15 thousand a year. If im lucky. Im happy people are saving money. Thats how it should be and not paying gibs to illegals that shouldnt be here.

Damn dude that's pretty rough. What do you do for living conditions, food, etc?

I live with family. It really sucks. I regret not pursuing a career. Obama really fucked a lot of us working part time jobs. I used to work over 30 almost 40 hours a week but once the mandate got passed no business wanted to pay healthcare for part timers so they just split our hours in half. Why im glad Trump won. I wouldve been homeless but I was fortunate enough to be taken in and helped by a very nice family. Its rough, but Im grateful for what I have. :3 all we can do is take one day at a time.

I hope you kids spend that shit wisely before the stock market crashes in 2 years and all money is worthless.

If married filing jointly do I enter our combined income in the calculator?

>Live in PR
>Both versions of tax bill threaten to completely wreck what's left of our manufacturing/exports
FIX IT

Pffft. My life would have been not nearly as good if I hadn't been able to work lots of part time hours at first. Need more money? More work needs to be done? Work more hours. Rather invest your time in something else? Work minimum number of hours.

Otherwise I would have been stuck in corporate drone land right out of school, which sucks even though you make money.

>South Dakota
>single
>$48k

I don't understand, Sup Forums. Reddit's finest intellectuals told me my taxes were going up.

How do you guys make so much money?

Look at my pic in OP the Senate plan gives me way more. It just depends on certain circumstances.

Why I should trust this crypto-kike? The faggot writes for FoxNews, do you really think his tax calculator is unbiased?

>$45,000
>Missouri
>single

this fucking jew better be right. If my taxes end up being higher, then 1776 WILL COME AGAIN

>Single
>1 dependant
>52,000
> + 800 - 950

working.

Yup. Did some inspect element for the House column to be accurate.

I'm just pissed about the AMT, I pray the House implements that in the Conference Committee. Damn thing needs to go.

in the 105k a year here with 1 dependent

little over $1800 saved with the senate bill

I don't understand what you mean. How can a calculator be biased? It just plugs numbers into the formula that Congress provided

Wowzers. Yeah if that's common at all I can see that needing some compromise, whether it's to the tax code or through some other mechanism like temporary assistance to basically grandfather current and prospective students until something else can change.

Calculator page failed to load but it just loaded, saving roughly 1,000 with house plan and 850 with the Senate plan. But my news told me I'd lose more money....

Hmm
Maybe save a bit. Think I itemize more than the standard deduction usually but not sure..

Seems simplified to me and saves the need to itemize all over the place.

Says I'll be saving $518 per year with my $32,000 salary filing in Missouri.

Expecting my account in an index fund to skyrocket. Thanks amerimutts. Although if I lived in your country I wouldn't want this bill. Who is going to pay off this deficit? Not the wealthy, they're getting most of the cuts. Not the niggers, they don't pay taxes. Middle class whites are going to get the burden of your taxes moving forward.

The bigger standard deduction is gr8 imo. People with complicated or clever lives can still itemize every last shekel, but for average people who don't hire a kike to do all that it makes more sense to just say "fuck it" and use the standard deduction.

It means universities just need to offer scholarships to those STEM students getting the waivers. What they're doing is charging tuition then "waiving" it so that THEY (the university) can write it off on THEIR taxes. If they're doing that then absolutely whoever receives it should pay income tax.

The debt never gets paid off until the Federal Reserve system is overhauled. Until then, keeping the dollar relatively strong and the bonds selling are the name of the game.

Heh. Sounds good to me. Or maybe they'll decide on a middle ground where they just waive less and leave students with a relatively minor burden without giving up all the gibs.

...

I know the debt never gets paid. But you still have to service the debt which is paid by tax payers. If the debt didn't matter then you wouldn't have any need for taxes now would you? This bill was atrocious for middle America, it's going to worsen you gap between rich and poor. Trump has fucked you

Filthy bastards.

What the fuck, are you me?

$4k savings under the house plan, $6k under the senate.

woohoo

i'm saving about $800. i can't complain. that's $800 extra in my pocket

I helped meme the god emperor, now buy me a game on steam as retribution

We'll see. The general concept was to take a stab at getting the economy, country, and geopolitical positioning in better shape to weather the storm of the future. Might or might not work, but seems worth a shot.

where are the shills?

>the House version of the bill proposes making tuition waivers taxable income
Fucking bastards.

Sorry monkey you only benefit if you had investments. Mine are in an international index fund and went up 17% since trump was elected and will improve again with this bill.

i would imagine that's how it works

It won't improve America. It's a globalised economy most of these tax cuts will be invested overseas where Labor is cheap. Even trump business is in China.

What plan are we getting

...

$124k/NJ

Trump's got business everywhere. What fatcat doesn't? Part of the whole plan was to balance back toward economic nationalism. I don't care if that comes at some short term cost because the long term alternative is national suicide leading to global government and actually extinction of all humans through transhumanism. But if you just like your index account have fun with that. I don't h8 on people who have a lot of money.

They have to negotiate a final plan. So something probably in the middle.

does this eliminate the penalty for not having health insurance?

Economic nationalism is a meaningless catch phrase. $750 billion in tax cuts for the top 1% is economic nationalism now? Please define to me what is economic nationalism.

Yes. The individual mandate is eliminated.

You will if you go to college or are one of the 13 million about to lose insurance coverage.

The tax plan alone isn't. But it's part of multifaceted shift away from globalism that removes incentives that destroy the nation-state (the ultimate goal since its conception in the wake of the collapse of the Roman Empire). So it would necessarily have to include a shift toward something like a protective tariff, stopping the slave trade of illegal immigration, different visa setup, making it sensible to have domestic production again, etc. It could all go horribly wrong if it's not done right, but, like I said, worth a shot.

Yes maybe, because personal/individual mandate will be cut, which means you don’t have to buy yourself insurance. But I advise you to buy one.

What the fuck do you know ausie I didn’t get a tax credit for college I went on scholarship

And removing the requirement that people must buy health insurance is not the same “losing healthcare”

I go to college and work full time and I'm the OP. I posted my tax already it saves me over $2,100.

Stop spreading generalizations and misinformation

For young people who pay taxes especially basic private insurance that focuses on covering catastrophy is not at all bad. Really poor people already have other safty nets.

Shills are hiding in their parent’s basement.

i'm still covered under my dad's plan (for now) because i'm 22. but it's nice to know that people aren't going to be penalized for not having health insurance

You could always stop taxes all together though
:D

MAGA

>paying more in taxes than most people earn in the first place
go u

Good, now you guys have a few thousand more dollars per year to spend on garbage entertainment and vices.

Sure, if the whole Obangocare is fixed in 2018, i think the premium will drop significantly. For example me, I have a private coverage, the premium is 20€ per month, in comparison with state-run health insurance, it costs 45€ monthly. Both provide same service.

DRAGON DILDO YOU WILL FINALLY BE MINE

>wahhh the guberment should fund my college-mandated slave wages
fuck off. Maybe shitty universities should cut SJW nonsense and pay real students more. Blame your school

save roughly 1,300 and I live in a high taxed blue state. not bad mates

Wew lad, you need to spend less time on /gif/ and Sup Forums and more time on Sup Forums.

>Married filing jointly
>Florida
>no kids
>75k AGI between us
Income's higher, but after 401k contributions, employer-sponsored insurance, and maxing out our HSAs, AGI gets driven down.

Pretty fuckin' sweet overall

Poorfagg, sad

Sounds like a better use of my money than giving it to niggers

Because the calculator uses bullshit math.

Single
42000
Oregon

My marginal tax rate in Australia is 37%