TAX REFORM SAVINGS!

taxplancalculator.com/

POST HOW MUCH YOU WILL SAVE! MY RESULTS IN PIC RELATED!

Note: If you have zero (or negative such as EITC) tax liability, this calculator will not work accurately for you. Gibsmedats need not apply. Also, make sure to input your income minus any tax deferred contributions like 401k or HSA. Moving expenses, student loan interest, and tuition are no longer deductible under House bill. If you have those deductions: Run calculator twice, both with & without them as income, to see the impact.

THIS IS FUCKING AMAZING! MY TAXES RE NEARLY CUT IN HALF

Other urls found in this thread:

taxplancalculator.com/
cbo.gov/system/files/115th-congress-2017-2018/costestimate/reconciliationrecommendationssfc.pdf
twitter.com/SFWRedditVideos

$60,000
Single
Standard deduction
CALIFORNIA!

For me the House Bill saved way more. For you the Senate Bill did. That's an odd quirk. Still fucking badass.

Weird yours is like the complete inverse of mine with the House and Senate. Wonder which will win when they negotiate the bill between the two chambers.

Yes plz

That's nice i guess.

Anyone on here know what exactly in particular is causing it to be different in those scenarios?

For the first time ever, I owe money. FML

Most likely marriage and children.

Post your results then please. "Owe money" doesn't mean anything, your tax liability is what matters. You can "owe money" because you didn't withhold any taxes all year but still be paying less than you did the previous year.

...

Tfw not a lazy entitled faggot wage slave who counts on big daddy government for hand outs. Fuck the GOP.

What state, filing status, what income levels and what deductions? Post your info please.

Seems like the Senate plan is friendlier to couples with kids, House plan gives married couples with no kids a bone via "family tax credit" for married couples in addition to child tax credits. I like the encouragement to end single parent household, that's positive for society. It doesn't HARM single parents, but it gives married couples with kids and extra boost.

Single, airline pilot, Michigan
$230000 income minus per diem
House plan savings $5K
Senate plan savings $3K, but expires in 2025
The Senate is a shit

if you make 60-100k you arent rich but you pay a lot of taxes

i appreciate this tax cut

its not my job to raise urban democrats

The Senate's only expires in 2025 so they could meet the rules for budget reconciliation and pass it with less than 60 votes. The parliamentary rules forced them to add it. In 2025 Congress will extend the cuts, nobody will allow individual rates to hike in that manner at that time.

It cuts taxes for the low income urban democrats too. Try it with shit wages in Cali for example. Those who get GIBS at tax return time (IE: MORE BACK than they ever paid in) are not affected by this law, no negative affect for them, but no additional gibs given either.

Couple extra grand in my pocket, will be nice.

Females think it is, especially if you are a 6 figure income single white male. I can't believe the amount of women that feel entitled to my money. Just yesterday, I was gassing my car near the airport, and the lady next to me filling up demanded I pay for her gas.

>receives services
>doesnt want to pay for them
Fuck negros.

>and the lady next to me filling up demanded I pay for her gas.
Just like, because she had a vagina or what?

feelsgoodman

Because I was in uniform, and drive a Porsche Macan.

I hope they eliminate the AMT in the final bill, that thing is so fucked.

>mfw live in Ireland so don't get to rejoice in tax cuts
Hold me, Sup Forums....

But, what was her reasoning?

>Woman "Sir, I can see you are a very privileged individual."
>Me. "ok"
>Woman "I'm going in to tell the attendant that you are paying $40 for my gas"
>Me "heh, no, I can't do that sorry"
>Woman "I see you are a real piece of shit too"
>Me "have a great day"

If I were out of uniform, I would have told her to fuck off.

I wouldn't have been able to hold it in. I might have taken a shit in her gas tank just to make my point.

For me usually it's illegals that walk up with a gas can and shove it towards me while I'm pumping gas. Happened three times last year. They dont speak any English

>taxplancalculator.com/
I dont know how its feasible

You guys tired of winning yet?

I can't, the company I work for has extremely strict conduct rules while in uniform.

You are all just like the GIBS ME DAT you all complain about KEK

How am I like the gibsmedats? I have a family and don't take a single penny of public assistance. My property taxes exceed the public schooling costs of my two children each year.

you sound like a salty gibsmedat who claims EITC every year.

How is the disparity between the House and Senate bill so massive? That's over a $14'000 saving difference

I've had them do that to me in the parking lot of a supermarket, usually with a kid. I've lost my shit on a few of them.

>wanting to keep money I make is gibs
Lolok

Makes sense, but is unfortunate

The CBO scored it with Obama's miserable 1+% GDP growth. If they had scored it with Trump's 3% plus growth it'd actually create a surplus rather than a deficit with the increased revenue from economic growth.

Here's what should really piss you off: When the CBO scored Obama's programs they used 4% hypothetical growth. Which turned into 1+%

$12,000
Freelancer / NEET
>Looks like you fucking idiots might owe ME money kek

You are so retarded about money
that you made a jew laugh.

see:

>Note: If you have zero (or negative such as EITC) tax liability, this calculator will not work accurately for you.

Pass those fucking bills

>$12k
Improve your income in just one easy step!

>taxplancalculator.com/

Looks like I'd save around $4,000

...

Doan take dat is not the same thing as gibs me dat

Sick

>CBO
>Non-partsan

You may choose one.

It’s a pretty wild swing. I’m making 400k as a physician with a wife and 2 kids. I wonder if being a W2 vs 1099 makes a difference

Be NEET pay nothing.

haha yeah I know. CBO is Democrat propaganda with the shenanigans they use in that GDP prediction. No joke.

I just posted this to my Facebook, and I'm expecting a lot of redpills to be administered when everyone sees that they're going to save money and realize the media is lying to them

People are just plain stupid. I was able to figure out long ago this would save me money. Sure if I made 2 or 3x the money I would save more, but why should I be jealous about that?

...

LMFAO $22,000 state and local taxes
hahahhahahaha
Blue state elites BTFO

It appears that the Senate plan is better for families filing jointly while the house plan is better for individuals

For comparison, in a SANE state with normal state income tax rates

>normal
>not 0
Sad

Are you a real jew?

So let me guess straight, some people will temporarily be saving money, couple of thousands of dollars a year, but in exchange for that there will be 1+ trillion that goes on the deficit near the end? Why is this such a good idea?

WRONG! The CBO came to that conclusion using Obama's miserable 1% GDP growth.

Trump is already at 3+%

Their numbers are completely inaccurate.

(FYI, when the CBO calculated for Obama's pet programs they used 4% potential GDP growth)

Sorry If I don't believe that. Don't get me wrong, I like the extra savings, with this I will save around $1500, but something tells me it will definitely add to the deficit one way or another. It will be the same as it ever was.

It's true bud.

then you had better call your congressmen and tell them you want to see federal spending go way down

can you give source for that? all my lib friends are freaking out about the trillion dollar deficit.

I'd like to redpill them further

You misunderstand, it's more DONT TAKE DAT, you know what taxes are right?

More likely that they're not considering the additional state taxes you'll be paying from the elimination of SALT deductability.

For example, 160k in CA shows a $3500 tax decrease, that's not correct. This is Federal taxes only.

>The staff of the Joint Committee on Taxation is currently analyzing changes in economic output, employment, capital stock, and other macroeconomic variables resulting from the bill for purposes of determining these budgetary effects. However, JCT indicates that it is not practicable for a macroeconomic analysis to incorporate the full effects of all of the provisions in the bill, including interactions between these provisions, within the very short time available between completion of the bill and the filing of the committee report.

cbo.gov/system/files/115th-congress-2017-2018/costestimate/reconciliationrecommendationssfc.pdf

Right there on page 2. They're using Obama's HORRIBLE GDP growth as the basis for their calculations. They refuse to use the real growth under Trump.

>I wonder if being a W2 vs 1099 makes a difference

Yes. You should be using an LLC anyway, doc.

Well no shit, THEY rushed it in, and who made the budget and who was in charge for 6 of the 8 Obama years? It wasn't the democrats or Obama. Fuck the two of these parties. They are literally hoping it will grow the economy. There's no significant economic data to suggest that tax cuts result in job or wage growth. Essentially, they're just hoping it will. I will see you guys later, have college in 3 minutes.

Would have said "here" and doused her with gas.