naomi 360 Posted February 2, 2018 Ugh. I own a small business. Have four employees on W-2 and nine that are 1099's. The tax rate hasn't changed. Did payroll today. You are paying the same amount. What you get back will change. There was a small bump in mine and I work for a school district. So I suppose tax time next year I'll get less back. I was wondering if someone who supports the changes can devil's advocate the situation...or just someone who doesn't support them plainly speak. What's the net effect short and long term? Some analysts were saying people in NY and CA will not benefit in the end, actually come out a little worse, but it's generally good for everyone else. Share this post Link to post Share on other sites
BunnysBastatrds 2,597 Posted February 2, 2018 There was a small bump in mine and I work for a school district. So I suppose tax time next year I'll get less back. I was wondering if someone who supports the changes can devil's advocate the situation...or just someone who doesn't support them plainly speak. What's the net effect short and long term? Some analysts were saying people in NY and CA will not benefit in the end, actually come out a little worse, but it's generally good for everyone else. I can only speak for Louisiana. But from what I see, you're paying the same. What you get back or pay has changed. I Have on employee that has upped her federal To .10 of her pay. State tax is .o25. And .0765. Share this post Link to post Share on other sites
Baker Boy 1,710 Posted February 2, 2018 There was a small bump in mine and I work for a school district. So I suppose tax time next year I'll get less back. I was wondering if someone who supports the changes can devil's advocate the situation...or just someone who doesn't support them plainly speak. What's the net effect short and long term? Some analysts were saying people in NY and CA will not benefit in the end, actually come out a little worse, but it's generally good for everyone else. The rich in states with high state income taxes will pay more. payroll departments base the amount withheld from each check on Internal Revenue Service tables that take into account annual salary and factors such as the number of children. The IRS has said new tables could be available as early as February, meaning people could see their take-home pay increase before the winter ends. https://www.usatoday.com/story/news/politics/2017/12/18/how-soon-after-president-trump-signs-tax-bill-you-see-effects/961497001/ I believe all companies must use the new tables by Feb 15th. 1 Share this post Link to post Share on other sites
IMMensaMind 462 Posted February 2, 2018 http://thehill.com/policy/finance/371800-hostess-snack-company-gives-employees-1250-year-of-snacks-after-gop-tax-cuts One company is giving its employees literal crumbs. Devious bastards. This is so the length of time they have to pay pensions decreases. Share this post Link to post Share on other sites
Patriotsfatboy1 1,433 Posted February 2, 2018 There was a small bump in mine and I work for a school district. So I suppose tax time next year I'll get less back. I was wondering if someone who supports the changes can devil's advocate the situation...or just someone who doesn't support them plainly speak. What's the net effect short and long term? Some analysts were saying people in NY and CA will not benefit in the end, actually come out a little worse, but it's generally good for everyone else. The biggest problem is not the reduction in taxes for people, but the fact that there is no corresponding cut in spending, which will increase the deficit. All we heard from conservatives when Obama was in office was that we were racking up record deficits. I don't buy the hype that says that the government will take in more as result of these changes and I believe that the deficit will grow even more. At some point, you have to cut spending and neither party seems to have any inclination to even want to touch that part. Share this post Link to post Share on other sites
Kanil 521 Posted February 2, 2018 They still took 40% of my bonus! Share this post Link to post Share on other sites
edjr 6,898 Posted February 2, 2018 My last 2 pay checks before the tax cuts. I got 66 and 65 % of my gross. This paycheck I got 70% of my gross MAGA! 1 Share this post Link to post Share on other sites
IGotWorms 4,063 Posted February 2, 2018 There was a small bump in mine and I work for a school district. So I suppose tax time next year I'll get less back. I was wondering if someone who supports the changes can devil's advocate the situation...or just someone who doesn't support them plainly speak. What's the net effect short and long term? Some analysts were saying people in NY and CA will not benefit in the end, actually come out a little worse, but it's generally good for everyone else. Its the same thing as always. Were focking our grandkids by running up a huge deficit so that the rich can get even more. A pittance for the rest of us so we feel like were getting something even though the overall tax burden has been shifted on to us. This is always the playbook. Folks havent learned or they just dont care. 1 Share this post Link to post Share on other sites
drobeski 3,061 Posted February 2, 2018 My last 2 pay checks before the tax cuts. I got 66 and 65 % of my gross. This paycheck I got 70% of my gross MAGA! how dare you like your money Share this post Link to post Share on other sites
edjr 6,898 Posted February 2, 2018 how dare you like your money I'd prefer they give it all to me and then send me a bill. Share this post Link to post Share on other sites
Bert 1,128 Posted February 2, 2018 There was a small bump in mine and I work for a school district. So I suppose tax time next year I'll get less back. I was wondering if someone who supports the changes can devil's advocate the situation...or just someone who doesn't support them plainly speak. What's the net effect short and long term? Some analysts were saying people in NY and CA will not benefit in the end, actually come out a little worse, but it's generally good for everyone else. Not a whole lot changed. The top 10% of earners received a tax cut, not surprising giving they pay most of the Federal income tax, but so did most middle and upper middle class tax payers. People in States with grotesquely high State Income taxes will no longer be subsidized by people in States with lower or no state income taxes. We are screwing our grandchildren because none of the low life elected scum in DC is willing to cut spending. Of course we are to blame for this because we won’t elect anyone who says they are going to take things away from us. Share this post Link to post Share on other sites
edjr 6,898 Posted February 2, 2018 Not a whole lot changed. The top 10% of earners received a tax cut, not surprising giving they pay most of the Federal income tax, but so did most middle and upper middle class tax payers. People in States with grotesquely high State Income taxes will no longer be subsidized by people in States with lower or no state income taxes. We are screwing our grandchildren because none of the low life elected scum in DC is willing to cut spending. Of course we are to blame for this because we won’t elect anyone who says they are going to take things away from us. what did you find out whilst in vegas, re golf? Share this post Link to post Share on other sites
Bert 1,128 Posted February 2, 2018 what did you find out whilst in vegas, re golf? Depending on the time of year I get a 20-25% discount at Cascata. They don't have the rates past May on the website so I need to call the pro shop to get any estimate for later in the year. The concierge said there are other golf courses she can get discounts as well but she would need specific dates. Share this post Link to post Share on other sites
IGotWorms 4,063 Posted February 2, 2018 Not a whole lot changed. The top 10% of earners received a tax cut, not surprising giving they pay most of the Federal income tax, but so did most middle and upper middle class tax payers. People in States with grotesquely high State Income taxes will no longer be subsidized by people in States with lower or no state income taxes. We are screwing our grandchildren because none of the low life elected scum in DC is willing to cut spending. Of course we are to blame for this because we wont elect anyone who says they are going to take things away from us. LOL thats funny. Like anyone subsidizes New York and CA. Might want to check your facts there Bert Share this post Link to post Share on other sites
Bert 1,128 Posted February 2, 2018 LOL thats funny. Like anyone subsidizes New York and CA. Might want to check your facts there Bert I knew I would get you with that one. In all seriousness, I wish they would have gone all the way and not allowed any state tax deductions at all. If you want to live in a State with high income, SUT or property taxes great that is your business but it should have no impact on your federal return IMO. Share this post Link to post Share on other sites
edjr 6,898 Posted February 2, 2018 Depending on the time of year I get a 20-25% discount at Cascata. They don't have the rates past May on the website so I need to call the pro shop to get any estimate for later in the year. The concierge said there are other golf courses she can get discounts as well but she would need specific dates. I am in. 100% if it's 1st week of November. sept/oct I'll have to finagle the ex some Share this post Link to post Share on other sites
Baker Boy 1,710 Posted February 2, 2018 You have to love the Lefties complaining about the deficit when they ran up $10 Trillion in the last eight years. The middle class got nothing and the poor got an Obama Phone. These tax cuts are not permanent, they were made temporary in order to pass the Senate. Late Tuesday night, the Senate Finance Committee released an updated tax reform bill that is expected to pass this week. The reason for the update? The Senate had to make changes to reduce how much the bill would add to deficits. They chose to make the vast majority of individual tax cuts temporary -- set to expire after 2025. http://money.cnn.com/2017/11/15/news/economy/senate-tax-bill-changes/index.html Share this post Link to post Share on other sites
nobody 2,882 Posted February 2, 2018 I know right! Fock health care for people less fortunate than Me! They can go get some Advil and cough medicine like normal people who don't deserve health care do Are you one of the guys in the crypto thread trying to figure out how to not pay taxes on your trades? Share this post Link to post Share on other sites
drobeski 3,061 Posted February 2, 2018 Are you one of the guys in the crypto thread trying to figure out how to not pay taxes on your trades?he's your prototypical union hack. Share this post Link to post Share on other sites
Frozenbeernuts 2,332 Posted February 2, 2018 Are you one of the guys in the crypto thread trying to figure out how to not pay taxes on your trades? No... Share this post Link to post Share on other sites
