Tax Plan Savings!

Post your savings
taxplancalculator.com
The calculator only works if you pay taxes. If it gives you a negative number don't even bother posting, gibsmedat.

Other urls found in this thread:

news.wbfo.org/post/new-york-facing-budget-deficit-4-billion
usdebtclock.org/state-debt-clocks/state-of-new-york-debt-clock.html
nypost.com/2017/10/03/new-york-gives-billions-more-than-it-gets-in-federal-spending/
twitter.com/SFWRedditVideos

About $1500. Not bad.

shiggy

Damn near inverse of mine between House and Senate. WEIRD

Can’t complain, I got a 2k raise a few months back due to company realignment plus a 3k raise for my annual merit increase coming through in February

So that’s 5k + probably another 2k give or take due to the tax breaks

In trumps firs year I’ve gone up 7k in real income that’s like an 11% increase in income for me.

And all my shittly lib friends hate him?? I just don’t get it

B-but, the Democrats told me this was BAAAAAD for me!

And guess what. Most of the saving expire to for the deficit rules for reconciliation. The main savings that don't expire are those to big business and tax breaks for wealthy cunts like private planes and golf courses. But oh no teachers can't claim tax savings on essential school supplies.

ok dis what i save

How do you not see that's a trap they've set? 2025 is when they would expire -- Trump's out of office at that point so whoever is in there next has the choice between extending the cuts or looking like a real jackass and earning the ire of the middle class.

>a sitting congress going into an election year
>letting taxes go up

Lol you are a child

Saved $1,200.

If anything I wish taxes for people in my situation would go up.

>Single
>Decent money but not super high
>No children

I am in the single-woman-working-in-HR tier.

I own a house in California so I Itemize a lot, like 20k. getting rid of SALT fucks me but lower tax bracket, so I lose 1k, meh.

I pay about 2k more. High tax state, Salt deduction removal fucks me. But at least people who make 10x what I do get a break.

>living in AzteCalifornia

you have a $800k house on a $100k salary?

Why should states that can run reasonable budgets and not have high taxes have to subsidize states that don't?

>Califirenia

600k and 135k senpai

I'm in NY. We pay the feds 40 billion more than we get back. You freeload off us you bavkwater hick.

>"See, no Democrats would vote for it so it had less than 60 votes!"
>"Thus under Senate rules it is FORCED to expire in 2025 because they didn't have 60 votes because Democrats wouldn't cooperate!"
>"And that's the Republicans fault goyim!!!"

How can you be this fucking retarded?

Ok

news.wbfo.org/post/new-york-facing-budget-deficit-4-billion

usdebtclock.org/state-debt-clocks/state-of-new-york-debt-clock.html

Not going to your virus website thanks
I have an account for that

nypost.com/2017/10/03/new-york-gives-billions-more-than-it-gets-in-federal-spending/

I can google too. You take our money.

Grad student. Removal of the lifetime learning credit and reclassifying tuition as income makes me go from paying almost nothing to an effective 15-20% rate on a 25k income.

The website doesn't use accounts.

wrong.

If your university wants to keep you then they will have to pay the taxes. Why is every other type of benefit transferred from an institution to an individual taxed but tuition isn't?

Close to 6000$

This is Pelosi Armageddon??

So your university needs to just make your tuition zero (or rather, standard tuition MINUS whatever your "waiver" is)

Universities doing "waivers" is then forgiving debt and claiming it as a loss on THEIR taxes. They're scamming the system at YOUR expense.

If Capital One waives all of my credit card debt, I pay income tax on whatever the amount of free money I got was. Same as waivers should be. Because Capital One can write it off on THEIR taxes.

as well as california. god damn welfare states and their stupidity.

>students cant profit from studenthood anymore

I am very happy

I work in STEM. I don't think I am the one profiting from working 40-60 hours a week on government "research grants" (aka DARPA work they didn't want to pay industry to do because labor costs too much) and getting paid for 20. This is the norm for STEM PhDs, the level of exploitation just varies.

What incentive do they have to do this besides pressure from liberal labor unions (which will just have their anger misdirected towards the government)? If they can pass the buck to the grad students, they will keep doing it. I expect the union to "negotiate" some offer involving the university offering "fee assistance" so they get to walk away looking like the good guy and Trump stays the bad guy while no one is the wiser.

It's pretty clear this is a tax on individuals.

My fuckhead uncle is 48 years old and STILL dicking around in universities. "Learning is a lifetime process" he says. He has always claimed all those fucking tax credits grants etc etc. He has never had a real career job just jobs to get by, he's a perpetual student working on his third degree

>What incentive do they have to do this
Pressure from students like you if you care about it so much. Why are you letting the university fuck you in the ass to rig the system in their favor? If they fully intended to never charge you tuition they shouldn't use tricks of accounting for them to claim they "forgave your debt"

There's no reason to paint a target on your back. I know the university doesn't care about my research, they just care about my labor. There a bunch of chinks and pajeets lined up around the block to take my spot. I'm here to learn skills and publish papers, not fix the system. This new tax code just means a shitty part of my life is going to be a bit shittier.

Literally knows nothing about how universities work. Probably knows nothing about how anything works.
Real research universities do not pay taxes, real universities do not, therefore claim losses, on their taxes, because they don not file tax returns.
The exception to this is fake universities, like Trump U. But do not let that dissuade you from enrolling. Cause the profit motive always makes for a better product.

mmm you should put that extra $6,000 into a good American product or two

Having done DARPA acquisitions, they're paying about as much as they do industry, maybe more, since industry assumes all risk for R&D and tries to recoup cost, while academia takes grants to cover R&D. Your university is just paying you shit. PS, if you get fed grants and pay stipends, you can be exempt from paying taxes, but still have to file with the IRS to maintain that status/prove you're not turning significant profit.

Oh I had thought just $1500. I guess the bracket changing saves me even more..

Shit, meant to reply to you, too. My bad, p. drunk.

Fuck that's painful, bro. $700k on $230 has me sweating.

If your university is paying no tax then there is literally no reason to "charge you a fee" then "immediately waive the debt" instead of never charging you for it in the first place. Tell them to fix the way they process it. It's as simple as that. They're clearly doing it for accounting purposes when the end result is the same in either example.

You are receiving income in the form of forgiven debt. That has always been taxable for the rest of society.

Make sure youre putting your AGI and not total income into the income line.

Eg: if you make 90k, subtract pretax income like health insurance payments or 401k/HSA contributions

>school supplies
Why are teachers having to buy shit for their kids in the first place? Maybe they will get butt blasted enough to fix the actual fucking problem if it costs them a little more

Poor people deserve to die desu.

putting in 10x my salary is actually bad. i thought repubs liked the rich?

$4540 with Senate plan, feels good man

same boat as me. CA, own a house.
Not good, but I think it is more correct to lower the SALT deductions to keep high tax states from being out of control.

>College students are now very shy about activism and protests

I'm at $1.4m on $160K, but have been building equity in homes + appreciation for 20 years so mortgage is only 400K.

Nice!

If true you pay more in tax than the rest of the posters in this thread combined.

How bad are your property taxes and insurance?

He said that he used 10x his income to prove it's not "tax cuts for the rich tax hikes for poor" like Democrats are claiming

yeah I saw that after I posted. Getting tired. Time for bed.

Property taxes are ~16K
Homeowners ~$2K
Fucking water bill is $1700/yr
Gas is ~2K
Juice is -$120/yr (solor panels)

Aaww but the liberals wanted us to tax the rich, so we did! Hahaha get fucked