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So what's going on with taxes

Posted on 8/16/17 at 10:43 am
Posted by fareplay
Member since Nov 2012
4817 posts
Posted on 8/16/17 at 10:43 am
screw all the politics fights you nerds have here. I just want to know stuff that impacts me. What and when will tax reform happen? My family makes between 100-200k a year would I save or pay more?


This is not a subtle brag, I live near San Francisco
This post was edited on 8/16/17 at 10:47 am
Posted by Gusoline
Jacksonville, NC
Member since Dec 2013
7629 posts
Posted on 8/16/17 at 10:44 am to
not so subtle brag thread fail, have a downvote.
Posted by Krokodil
Member since Dec 2013
819 posts
Posted on 8/16/17 at 10:45 am to
quote:

screw all the politics fights you nerds have here. I just want to know stuff that impacts me. What and when will tax reform happen? My family makes between 100-200k a year would I save or pay more?


Subtle brag

ETA: dammit...missed it by thaaaat much.
This post was edited on 8/16/17 at 10:46 am
Posted by fareplay
Member since Nov 2012
4817 posts
Posted on 8/16/17 at 10:45 am to
I live in the Bay Area. 200k is no brag at all
Posted by imjustafatkid
Alabama
Member since Dec 2011
50423 posts
Posted on 8/16/17 at 10:46 am to
quote:

not so subtle brag thread fail, have a downvote.


"Between 100-200k" as a family isn't much of a brag.
Posted by elposter
Member since Dec 2010
24924 posts
Posted on 8/16/17 at 10:48 am to
quote:

So what's going on with taxes


Nothing meaningful yet and no real timetable or concrete plan. Disappointing. You should probably care a little more about the "political fights" because unfortunately things like tax reform take cooperation and cooperation depends on political capital of which Trump appears to have little right now.
Posted by fareplay
Member since Nov 2012
4817 posts
Posted on 8/16/17 at 10:49 am to
This subfourm is a shitshow with people either posting about racism or who trump is bashing on twitter.
Posted by gamatt53
Member since Nov 2010
4934 posts
Posted on 8/16/17 at 10:49 am to
I wouldn't expect much of anything to change as far as actual meaningful legislation over the next 4 years. No healthcare reform. No wall. No tax reform. No change in foreign policy.
This post was edited on 8/16/17 at 10:52 am
Posted by Decatur
Member since Mar 2007
28719 posts
Posted on 8/16/17 at 10:50 am to
quote:

What and when will tax reform happen?


It doesn't appear that anything is happening soon, if it happens at all.
Posted by Jorts R Us
Member since Aug 2013
14808 posts
Posted on 8/16/17 at 10:51 am to
I'm with you man. Back in the present day we got shite to fix.
Posted by Gusoline
Jacksonville, NC
Member since Dec 2013
7629 posts
Posted on 8/16/17 at 10:51 am to
houses run $75-120/sq ft here, 150K will go a long arse way round these parts and most of rural America.
Posted by fareplay
Member since Nov 2012
4817 posts
Posted on 8/16/17 at 10:54 am to
here is relative

In the bay area, 1200 sq ft house costs upwards of a mil depending on location
Posted by Gusoline
Jacksonville, NC
Member since Dec 2013
7629 posts
Posted on 8/16/17 at 10:56 am to
well then, damn you poor
Posted by fareplay
Member since Nov 2012
4817 posts
Posted on 8/16/17 at 10:57 am to
My wife doesnt want to leave this area, so any tax support i can get..
Posted by tedmarkuson
texas
Member since Feb 2015
2592 posts
Posted on 8/16/17 at 10:59 am to
quote:

My family makes between 100-200k a year would I save or pay more?


well then you'll be happy to know that for tax year 2016 you entered the 28% bracket at $151,900 and for 2017 you wont enter that bracket until you make $153,100 married filing joint.

seriously making 150k taking just the standard deduction and assuming a maximum 401k deduction and two additional dependents that's a family of 4 making 150k, your maximum tax liability would be $18,250 or an effective rate of 12%.

how much lower do you want them to be?
Posted by fareplay
Member since Nov 2012
4817 posts
Posted on 8/16/17 at 11:00 am to
Since CA takes 10 or so %. a little lower wouldnt be bad.


Also we have no kids
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 8/16/17 at 11:01 am to
0
Posted by fareplay
Member since Nov 2012
4817 posts
Posted on 8/16/17 at 11:33 am to
What happened to the fix? I mean immigration doesn't mean much to me, healthcare is from work, I just want this done
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