Personally, I’m very excited to see $10 more a week in my paycheck while at the same time no longer being able to deduct my mortgage interest from my taxes.
I’ll only be losing something like $5,000 a year but at least trump got his legislative victory.
Ok. You don't understand the new tax law. Or you're a shill. We get it.
Why the fuck should mortgage interest be a tax deductible?
You Did choose to borrow the money right?
Post calculator, you salty cunt
Sage.
burgers have to do a tax return every year as if they were self employed
Whether it should be or not it’s been that way for as long as I can remember and now it’s gone.
I love losing out on more money every year, personally
Sage in every field, OP is a massive nigger faggot.
Interest deduction is just subsidizing jewish bankers and pushing up property prices. You’re a retard for relying on it.
sounds like you need to hire a CPA because you're too fucking stupid to even read a simple graph.
oh wait you're a stupid shill who doesn't even have a house
Nah, I understand it just fine. The new deduction bracket and paycheck tax ‘cuts’ don’t even come close to making up for deductions that I’ve always taken (mortgage interest being the largest)
Why would I pay somebody to do my taxes?
I’m just a working class person, my taxes aren’t even that complicated and I’m still going to lose money when the new legislation kicks in.
But maybe that’s the point, this legislation wasn’t made for middle class people
Sucks to be you. Maybe you can give $5,000 worth of blowjobs to your wealthy liberal friends to make up for it.
mortgage interest deduction FOR VALUE ABOVE 750K.
If your house is worth less than 3/4 million, you're not losing your deduction.
If your house is worth more than 3/4 million, you're only losing a fraction of your mortgage interest deduction.
Fuck off with that pic bitch nigga, bitch thinks she in the 1980's with those granny glasses and shit. Fuckin pink ass oreo nigga
>Has a home worth more than 750,000
>on Sup Forums
get out normal fag
Yeah, but your standard deduction doubled
Thanks for the link, I too rely heavily on reading opinion pieces to know where my money will theoretically go
She’s cute, imo
>TFW No autist Leah gf
yeah ok so you're just straight up lying.
shill thread, pce out niggers
Stop paying taxes you goy slave
Where do you live where housing costs are high enough for you to be losing money on this change?
You can deduct the first $750k of mortgage interested, you stupid faggot nigger.
>3
you won't have to pay for health care any more either - that's a huge savings
Dude. They're like stop tax breaking the rich!
He could still deduct the interested on the first $750k. The amount over that is what people can't deduct.
Or she's so broke she can't afford new shit.
fpbp you know what to do
>having a family and not having any healthcare
What are you, retarded?
now reflect on how your other opinions are formed by the same media
I never did pay for it.
The mortgage interest deduction is still available if you itemize. Also it's an above the line deduction not a credit.
What was your total itemized deductions last year and I'll help you calculate right here on the chans.
Really jealous of dunky but I guess also feel good that a fat tongued autist got a cute gf
He's LARPing, which is painfully obvious. In reality he's a NEET.
Kids are surprisingly resilient. The problem is that most parents are fucking retarded.
>buying a house you can't afford.
I paid my house off well before my thirtieth birthday. Sucks to be you.
Yeah thanks for that captain obvious.
>in other news, water's wet
It's crazy! So many libs I know are bitching about this deduction and the tax bill, as if they already know exactly how much it costs them, and are so misinformed about it. Also, rich people bitching about paying taxes, pisses me off. I pay a lot, it's cool.
Taxes are theft. That's why people bitch.
Ooooooh noooo, going into debt is no longer being incentivized?
is the female in the picture supposed to be attractive?
But it isn't. Sending in big checks every year sucks.
bitch is full of shit. I be he's looking through over 6000000 records right now and thats why he hasnt posted numbers yet.
I make maybe 30k and still save money with the new plan.
She the Fiancé of a big YouTuber from a middle class family. Google says she's a bug YouTuber too, leahbee
OP is a faggot. I'm waiting
>taking a mortgage
AHAHAHAHAHAHAHA FAGGOT
Stop squabbiling. Most get around $1000 per Year, so the kids of the next Walmart Heir saves up to 1-2 billion in estate and taxes.
This is a heist and its a good one, since lots of older millionaires and billionaires are on the brink of dying. This even affects Trump. He is 70. If he dies after being POTUS, he will give his kids 1-2 billion more.
Corruption has a new name. The Junta called the US.
Damn, I like that cookie
Rosie O'Donnell is like stop cutting my taxes, I'll send $4 million cash to stop you!
No, she is supposed to be Jewish.
But he earned that money for his family, it's his property
Hey, so he signs it, does it start next year or the year after?
>while at the same time no longer being able to deduct my mortgage interest from my taxes.
>I’ll only be losing something like $5,000 a year but at least trump got his legislative victory.
cool, good thing you also now have a $10K property tax deduction
so that's what
+$5k?
sage
Love faggots that think the Walmart heirs should't be getting that money.
Hopefully you and your do nothing family don't reproduce anymore.
Nigger 2/3rds of billionaires in the last century are self-made. We live in a boom-bust economy, the times of centuries long aristocracy is over unfortunately.
No more free rides pussy. Vote for a nigger or woman next time.
your home costs over 750k and you only save 5k by deducting mortgage interest?!?
Where the fuck do I get a 0.6% loan
Should start in January. In a couple weeks.
The estate tax changes are one thing I don't like about the bill. The US wasn't founded to house a class of "kings" who can pass grandaddys wealth down 12 generations.
Work for your wealth, faggots.
Cool.
i bet you she does some really weird shit in bed. on the down side she sounds like a 4 year old.
OP is a lying faggot as always. He probably hasn’t even graduated high school yet
>implying that affordable houses exist
>gibs me dat
Commie alert
I'd rather that money be giving to a class of white aristocrats than to AIDS niggers via welfare and foreign aid.
And OP is gone. Good chat, glad you spew bullshit and can't back it up.
They’re too in love with trust fund kids.
Not sure why these schmuks want to give them more money..
>> thinks the average family that ends up paying estate tax turns into a dynasty
lol
>what is leasing
Not my fault you fags are retarded and are trying to buy in a post-house-flippers market when the boomers are literally going to keel over in ~2028 leaving behind millions of acres of either bank owned thanks to reverse mortgage or foreclosed property thanks to unpaid mortgages.
Fair point, I guess it's better to stay in the family than to hand it over to big guberment to spend a trillion dollars on something that should cost a hundred.
>leahbee
every time.
>average family
>transferring 10.9 million of wealth is the exemption if married
"Because of these exemptions, it is estimated that only the largest 0.2% of estates in the U.S. will pay the tax."
Are you retarded?
How is it even in question? Every example given is some ultra rich group like the Walmart clan.
My personal example a guy who started a construction company, worked his balls off, and died before 60.
You think YOU deserve what money he had left over instead of his family, LOL?
If that is the case, realize how big of a nigger that does make you.
>Thinks it was important to fight for a change that affects less than 600 deaths a year.
Keep slurping it up and work hard and maybe you’ll be rich like them one day!!!
?
>downside
Estate tax hurts middle class people more than the rich.
If you inherited 1 billion but have to give 40% to the government in taxes, you are still rich. But if all you inherited was a house, and the government wants 40% of it, you just lost the house.
The age of the plutocrats has arrived!
Buy cheaper houses rich fags
The loss of mortgage interest deduction is for mortgages over $750k. Youre a fucking idiot.
In my situation they weren't married so anything over 5 million was taxed.
Thinks you are entitled to the fruits of another man while failing to realize having such a faggot attitude will without question make certain your heirs won't have to worry about that tax.
I already am, bro :)
>Pay tax on the interest on the loan we gave you goyim!
So the government has to tax the payment I make to the bank to keep my fucking house?
Bullshit.
It's more likely the black guy is cucking the girl because he's a faget
This potatonigger gets it.
Most Redditards and /leftypol/ bugmen are either NEETs or Starbucks employees who live in apartments, so they don't know what it's like to be middle-class and manage any degree of capital.
Cool story. I knew this guy once who did something, now I'm angry too.
I don't believe the anecdote. This person must've sucked at tax planning.
taxpolicycenter.org
ook at me eating my pink macrons and drinking tea teehee~
jesus fuking christ
>He thinks the current heirs of the walmart fortune have done jack shit in the last 40 years.
You are such a fucking sheep.
They ended up building a good portion of Brookfield Wisconsin.
Only a few contractors that would fit that description :)
>work for your wealth faggots
I get drenched in cow shit on a regular basis, but I had to sell 1700 acres of land that my great-grandpa originally bought, because my uncle died of brain tumors, and the (((Feds))) demanded their death tax.
Cool. You've had plenty of opportunity to make money in the how many year long bull market and crypto market. Kill yourself if you've been a sideline sitting faggot for the past nine years. Go look for sympathy elsewhere.
Gonna be honest, I'm a poor grad student, and with all things taken into account... I stand to gain a little bit. The tuition waiver tax isn't in the final bill, but some of the low-mid tax brackets are getting a drop, and the standard deduction is getting raised.
Sure, the country's gonna get fucked by the increased deficit, but as long as I can get my PhD and a tenure track position before the whole thing comes apart... who cares?
You don't pay taxes on inherited property in the US, unless you live in a shit state (6 of them) and only state taxes.
If you sell that property in the future your basis is the inherited value and you get taxed at the capital gains rate at 15%. So your fake story doesn't hold up.
Your mortgage is higher than $500k??
Well then you're rich enough to afford it and not remotely middle class. Get fucked time to pay your fair share like the dems say.
This shill is full of shit. The mortgage interest deduction on loans is dropping from $1 million to $750,000 in 2018. If you take a loan for more than $750,000, you'll still get a deduction can just claim it on the first $750,000 of the mortgage.
I don't know many low income or middle class people getting million dollar mortgages.
The deductions are capped to mortgages worth $500k. If OP lived in a place that had a high home value he would be right.
The biggest problem I have with the tax changes is the cap on local taxes. I pay 12k in property/state so my taxable amount just went up in 2k meaning I basically got nothing. If I make more or move to a larger house or my home value goes up it gets worse.
The income tax changes are only one fucking piece of things. He has really fucked over a lot of people who live in states that have their own income tax/property tax.
loan interest paid isnt counted as income (deduction). OP is a retard and doesnt understand the new tax law
significant gambling losses or medical bills can also be deducted. makes sense that they shouldnt tax you on income you don't have.
anything that makes you whiny liberal cocksuckers suffer
Corporations can deduct the interest paid on bonds. What is so bad about families deducting interest on loans on major purchases as well?
That being said, this change only affects houses in major cities where a 2bedroom house goes for half a mil.
