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Frozen Sucks!

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Tax reform plan
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Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.



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On the bright side...... Christmas is coming! (Mod)

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I know what to do_sometimes wrote:

Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.


 Huh?  Not affected?  The child tax credit doubled, the personal exemption doubled, and the tax bracket for most middle class people went down from 15% to 12% up to $75K.

 

The O care mandate penalty isn't phased out until 2019.



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LawyerLady

 

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Lawyerlady wrote:
I know what to do_sometimes wrote:

Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.


 Huh?  Not affected?  The child tax credit doubled, the personal exemption doubled, and the tax bracket for most middle class people went down from 15% to 12% up to $75K.

 

The O care mandate penalty isn't phased out until 2019.


 The standard deuction was nearly doubled.  The personal exemption was eliminated.



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Is there a link anywhere to the exact details? I heard the standard deduction was raised. I liked the sounds of that.


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I'm glad the mandate is being phased out.



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Frozen Sucks!

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Lawyerlady wrote:
I know what to do_sometimes wrote:

Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.


 Huh?  Not affected?  The child tax credit doubled, the personal exemption doubled, and the tax bracket for most middle class people went down from 15% to 12% up to $75K.

 

The O care mandate penalty isn't phased out until 2019.


 Ok so those for you in the south make out. your r/e taxes and mortgage interest are so much lower than us in the NE you make out! I too do since I put my house into a trust last year so no longer have itemized deductions, not that I would anyway.  My mortgage and interest rate is so small I wouldn't be itemizing anyway.



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Sometimes you're the windshield, and sometimes you're the bug.

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Frozen Sucks!

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lilyofcourse wrote:

I'm glad the mandate is being phased out.


 That was a done deal months ago, just needed to get the tax package passed.  Pelosi said billions of people will die. 



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it should be interesting to see how we are affected. Either way, I think it's a good thing.

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I know what to do_sometimes wrote:
lilyofcourse wrote:

I'm glad the mandate is being phased out.


 That was a done deal months ago, just needed to get the tax package passed.  Pelosi said billions of people will die. 


 I know  one person who died because  of Obama  care. Pelosi  wrong  as usual.



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On the bright side...... Christmas is coming! (Mod)

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I know what to do_sometimes wrote:
Lawyerlady wrote:
I know what to do_sometimes wrote:

Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.


 Huh?  Not affected?  The child tax credit doubled, the personal exemption doubled, and the tax bracket for most middle class people went down from 15% to 12% up to $75K.

 

The O care mandate penalty isn't phased out until 2019.


 Ok so those for you in the south make out. your r/e taxes and mortgage interest are so much lower than us in the NE you make out! I too do since I put my house into a trust last year so no longer have itemized deductions, not that I would anyway.  My mortgage and interest rate is so small I wouldn't be itemizing anyway.


 And now people will better understand their STATE tax cost.



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LawyerLady

 

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On the bright side...... Christmas is coming! (Mod)

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cadiver wrote:
Lawyerlady wrote:
I know what to do_sometimes wrote:

Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.


 Huh?  Not affected?  The child tax credit doubled, the personal exemption doubled, and the tax bracket for most middle class people went down from 15% to 12% up to $75K.

 

The O care mandate penalty isn't phased out until 2019.


 The standard deuction was nearly doubled.  The personal exemption was eliminated.


 Whichever.  



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LawyerLady

 

I can explain it to you, but I can't understand it for you. 



Frozen Sucks!

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Lawyerlady wrote:
I know what to do_sometimes wrote:
Lawyerlady wrote:
I know what to do_sometimes wrote:

Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.


 Huh?  Not affected?  The child tax credit doubled, the personal exemption doubled, and the tax bracket for most middle class people went down from 15% to 12% up to $75K.

 

The O care mandate penalty isn't phased out until 2019.


 Ok so those for you in the south make out. your r/e taxes and mortgage interest are so much lower than us in the NE you make out! I too do since I put my house into a trust last year so no longer have itemized deductions, not that I would anyway.  My mortgage and interest rate is so small I wouldn't be itemizing anyway.


 And now people will better understand their STATE tax cost.


 That is my thought too.  Maybe voters will get smarter.



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Sometimes you're the windshield, and sometimes you're the bug.

Frozen is the bestest movie ever, NOT!



Frozen Sucks!

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Posts: 24384
Date:
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Lawyerlady wrote:
I know what to do_sometimes wrote:

Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.


 Huh?  Not affected?  The child tax credit doubled, the personal exemption doubled, and the tax bracket for most middle class people went down from 15% to 12% up to $75K.

 

The O care mandate penalty isn't phased out until 2019.


 I meant not negatively affected.  



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Sometimes you're the windshield, and sometimes you're the bug.

Frozen is the bestest movie ever, NOT!



Hooker

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Lawyerlady wrote:
I know what to do_sometimes wrote:
Lawyerlady wrote:
I know what to do_sometimes wrote:

Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.


 Huh?  Not affected?  The child tax credit doubled, the personal exemption doubled, and the tax bracket for most middle class people went down from 15% to 12% up to $75K.

 

The O care mandate penalty isn't phased out until 2019.


 Ok so those for you in the south make out. your r/e taxes and mortgage interest are so much lower than us in the NE you make out! I too do since I put my house into a trust last year so no longer have itemized deductions, not that I would anyway.  My mortgage and interest rate is so small I wouldn't be itemizing anyway.


 And now people will better understand their STATE tax cost.


Ah...a wonderful reason to live in TN... 



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Frozen Sucks!

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Ohfour wrote:
Lawyerlady wrote:
I know what to do_sometimes wrote:
Lawyerlady wrote:
I know what to do_sometimes wrote:

Most are not affected, just a change in where the deductions etc come from.

 

Lily, you got your wish, no more O care mandate penalty.


 Huh?  Not affected?  The child tax credit doubled, the personal exemption doubled, and the tax bracket for most middle class people went down from 15% to 12% up to $75K.

 

The O care mandate penalty isn't phased out until 2019.


 Ok so those for you in the south make out. your r/e taxes and mortgage interest are so much lower than us in the NE you make out! I too do since I put my house into a trust last year so no longer have itemized deductions, not that I would anyway.  My mortgage and interest rate is so small I wouldn't be itemizing anyway.


 And now people will better understand their STATE tax cost.


Ah...a wonderful reason to live in TN... 


 smile



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