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Is that Wall Street Journal article on tax plan real? If so it's completely 180

The whole thing is great. See: http://xoxohth.com/thread....
carnelian base
  11/02/17
I'm still LOLing at lawcucks getting pwned meanwhile, I h...
Floppy psychic senate
  11/02/17
law-cucks didn't get owned brother. Their overall taxes w...
carnelian base
  11/02/17
they aren't getting the pass-through benefit so I disagree w...
Floppy psychic senate
  11/02/17
Associates will all benefit. Fuck partners. And how are ...
carnelian base
  11/02/17
c-corps aren't pass through entities, bro. s-corps are. I'll...
Floppy psychic senate
  11/02/17
ah C-corp. Are you going to call everything profit? Your...
carnelian base
  11/02/17
I don't think that far ahead. that's what my accountant is f...
Floppy psychic senate
  11/02/17
LMFAO "won't bother me, I filed a couple pieces of p...
filthy property
  11/02/17
dumb here. what's so great about it?
Purple multi-billionaire
  11/02/17
Tax brackets are lowered. Keep 401ks. Keep state deduction...
carnelian base
  11/02/17
so UMCs not fucked?
Purple multi-billionaire
  11/02/17
what does it do to the death tax? does it repeal the AMT?
Know-it-all drunken quadroon
  11/02/17
estate tax cap gone in 6 years, exemption doubled for now. ...
carnelian base
  11/02/17
87654321235676543212345678765432345
Know-it-all drunken quadroon
  11/02/17
yeah the entire thing is completely 180
carnelian base
  11/02/17
freedom cuckus and blue state House Republicans better not f...
Know-it-all drunken quadroon
  11/02/17
I'm not even sure what dems won't like except the state dedu...
carnelian base
  11/02/17
naw everyone likes this
Maniacal sanctuary trust fund
  11/02/17
I read this in Mark Renton's voice.
Razzmatazz degenerate rehab
  11/02/17
...
startled old irish cottage
  11/02/17
The article said state and local property tax, not income
thriller international law enforcement agency legal warrant
  11/02/17
AMT is rapepwned is the part i'm excited about i am pissed ...
rusted exciting orchestra pit
  11/02/17
lol, jesus dude you have a childlike grasp of this stuff
filthy property
  11/02/17
can someone c/p the whole thing? thank.
Cyan legend
  11/02/17
https://www.cnbc.com/2017/11/02/house-republicans-unveil-tax...
carnelian base
  11/02/17
We have ~$300K HHI in a high COL state. Wagecucks, mortgage....
Purple multi-billionaire
  11/02/17
LOL @ sociopaths who ask what's best for them instead of wha...
Know-it-all drunken quadroon
  11/02/17
so does it help me or not? serious q
Purple multi-billionaire
  11/02/17
UMC W2cucks in million dollar homes are going to get boned a...
Floppy psychic senate
  11/02/17
For a million dollar loan it's only like $6-$7k more a year ...
carnelian base
  11/02/17
...
kink-friendly excitant menage
  11/02/17
...
Motley Dingle Berry
  11/02/17
Your income from $90k-$260k is only capped at 25%. The next...
carnelian base
  11/02/17
seems cr DINK with HHI ~330k, i'd have about 43k in deducti...
Coral preventive strike den
  11/02/17
No you’re getting fucked. Chances are your mortgage is more...
sapphire histrionic garrison
  11/02/17
fuck.
Purple multi-billionaire
  11/02/17
Eh not on $300 income. Depends on his interest payments
carnelian base
  11/02/17
Also, even though you'll get a slightly lower marginal tax r...
garnet market selfie
  11/02/17
So everyone loses the exemptions, but the standard deductio...
startling church building
  11/02/17
We are getting fucked hardcore. It is like ~$50-60k of dedu...
sapphire histrionic garrison
  11/02/17
It can't be that much. You can still deduct interest for ...
carnelian base
  11/02/17
I was talking more about state tax deduction. I paid $50k i...
sapphire histrionic garrison
  11/02/17
Jfc California
Fragrant Station
  11/02/17
180
Dun vigorous chapel
  11/02/17
For most high-income wage earners who pay a lot of state and...
burgundy rigor
  11/02/17
Property values in pricey areas will get raped too.
diverse insane sweet tailpipe wagecucks
  11/02/17
As much as I’d like for that to be the case, mortgage rates ...
sapphire histrionic garrison
  11/02/17
This is a mixed blessing.
stirring azn
  11/02/17
180
Motley Dingle Berry
  11/02/17
only applies to homes purchased after the bill. old homes ke...
saffron house juggernaut
  11/02/17
fucking scum boomers.
startling church building
  11/02/17
Didn't the article say the mortgage interest change was only...
stirring azn
  11/02/17
(Boomer who will never ever move)
diverse insane sweet tailpipe wagecucks
  11/02/17
how much does this add to the deficit?
twisted titillating karate hall
  11/02/17
1.5T i think
rusted exciting orchestra pit
  11/02/17
So everyone gets what they want except high end homebuilders...
Exhilarant Public Bath
  11/02/17
I’m eyeing the housing market in DC and NYC and Boston and C...
gay indirect expression yarmulke
  11/02/17
I think taxes may be raised upper middle class on people in ...
carnelian base
  11/02/17
lmao @ earl
comical amethyst corn cake
  11/02/17
...
anal dead blood rage
  11/02/17
Yeah a chance of higher rate but no amt... can't tell how it...
Exhilarant Public Bath
  11/02/17
And there's a tax break for poors, middle class, and your in...
carnelian base
  11/02/17
Investments? You mean the pass through stuff or did they do ...
Exhilarant Public Bath
  11/02/17
Corporate taxes
carnelian base
  11/02/17
So I get double standard deduction at 12,700, instead of the...
Appetizing abusive hell clown
  11/02/17
Probably. But this wasn't about cutting taxes for upper mid...
carnelian base
  11/02/17
I get that, just trying to figure out the impact on me.
Appetizing abusive hell clown
  11/02/17
This is confusing as hell, but I assume it will fuck me har...
startling church building
  11/02/17
yes it's grandfathered in. But to be fair, it was people ...
carnelian base
  11/02/17
So on one hand, the cap on the interest deduction will not...
startling church building
  11/02/17
Don't you have to pay the AMT?
carnelian base
  11/02/17
I sure did.
startling church building
  11/02/17
That'll be gone
carnelian base
  11/02/17
Major Trumpmo here. I'm getting fucked under this deal.
Multi-colored ungodly double fault friendly grandma
  11/02/17
how so?
Purple multi-billionaire
  11/02/17
SALT. S Corp pass thru taxation (although I didn't see this,...
Multi-colored ungodly double fault friendly grandma
  11/02/17
How would the S-corp thing hurt you? It can only help
carnelian base
  11/02/17
Revenue would be taxed twice, no?
Multi-colored ungodly double fault friendly grandma
  11/02/17
It's pass through same as before.
Exhilarant Public Bath
  11/02/17
'pass-through' *drools*
filthy property
  11/02/17
Lawyer? Doesn't sound like S Corp is changing for you.
Exhilarant Public Bath
  11/02/17
Nice! Still going to get boned on SALT though.
Multi-colored ungodly double fault friendly grandma
  11/02/17
State your income and state
carnelian base
  11/02/17
NY. Property taxes are 15k. Income is idk because I just joi...
Multi-colored ungodly double fault friendly grandma
  11/02/17
Income tax rate will be lowered a good bit
carnelian base
  11/02/17
Is there a cap on property tax deductions which is separate ...
startling church building
  11/02/17
property tax deduction would fall under state and local tax ...
Insanely Creepy Jew Roommate
  11/02/17
lol so $10K total? Fuck my ass kyle.
startling church building
  11/02/17
It's separate, to answer your question. You get the interest...
Exhilarant Public Bath
  11/02/17
PROPERTY TAX. You get zero state tax deduction as I read i...
thriller international law enforcement agency legal warrant
  11/02/17
...
Maniacal sanctuary trust fund
  11/02/17
looks like capped at 10k but who knows where that ends up p...
Coral preventive strike den
  11/02/17
is it capped separately or is state income tax + property ta...
startling church building
  11/02/17
All SALT (including property) deductions capped at $10k. ...
carnelian base
  11/02/17
...
Vivacious costumed regret deer antler
  11/02/17
State and local is capped at $10k total.
Insanely Creepy Jew Roommate
  11/02/17
AMT is gone but it's a red herring. You'll never get close t...
garnet market selfie
  11/02/17
(Guy who doesn’t have oil and gas assets or rental propertie...
Floppy psychic senate
  11/02/17
business expenses taken through an S or C corp are not itemi...
startling church building
  11/02/17
Right, but all this shrieking about itemized deductions gett...
Floppy psychic senate
  11/02/17
not small businesses.
startling church building
  11/02/17
Anti trump person here. I make out like a bandit with these ...
Cracking nofapping brethren
  11/02/17
Nah shitlibs in SF, LA, and MFH are paying up so it won't ad...
carnelian base
  11/02/17
I could get behind this if he’d stop with the tantrums and h...
Cracking nofapping brethren
  11/02/17
So last year I paid $35,000 in state income tax, $10,000 in ...
startling church building
  11/02/17
Youll still be able to deduct most of that mortgage interest...
carnelian base
  11/02/17
This is the fuck homeowners in first tier metro areas bill. ...
Insanely Creepy Jew Roommate
  11/02/17
These are people that deserve to be fucked, i.e. shitlibs. ...
carnelian base
  11/02/17
Our states usually pay out more in federal taxes than we tak...
Insanely Creepy Jew Roommate
  11/02/17
Good. This federal spending is shitlibs' doing. Strip it. Ma...
rusted exciting orchestra pit
  11/02/17
lol get fucked
Bisexual mildly autistic generalized bond internal respiration
  11/02/17
enjoy!
Coral preventive strike den
  11/02/17
(New states rights activist)
thriller international law enforcement agency legal warrant
  11/02/17
...
godawful lettuce chad
  11/02/17
...
Maniacal sanctuary trust fund
  11/02/17
Those guys need to get fucked. I am ok with this.
stimulating angry main people stag film
  11/02/17
then don't fucking live in the NYC suburbs if you can't affo...
Deep Home Hissy Fit
  11/02/17
...
Maniacal sanctuary trust fund
  11/02/17
Now you’re subsidizing corporations AND poors.
cream trip area
  11/02/17
(tax welfare queen)
Vibrant doctorate becky
  11/02/17
is it mortgage interest for homes up to 500K, or mortgage in...
magical headpube theater
  11/02/17
Mortgage
carnelian base
  11/02/17
This definitely helps with future purchases (for current hom...
stirring azn
  11/02/17
Trump has a good heart.
Razzmatazz degenerate rehab
  11/02/17
Does it take effect for 2017 taxes?
Fishy cruise ship
  11/02/17
no way it's retroactive, would fuck up withholding penalties...
Coral preventive strike den
  11/02/17
Damn BORING
Fishy cruise ship
  11/02/17
loling at all the blue state republican like Nutella who tho...
Slate nighttime state boistinker
  11/02/17
Not a Trumpmo, but TBF, this shit delivers for the middle cl...
cobalt adventurous patrolman filthpig
  11/02/17
not really. the simplification is great, but it adds to the ...
Vibrant doctorate becky
  11/02/17
lol debtcucks you're all gonna starve
Idiotic big athletic conference field
  11/02/17


Poast new message in this thread



Reply Favorite

Date: November 2nd, 2017 11:48 AM
Author: carnelian base

The whole thing is great.

See: http://xoxohth.com/thread.php?thread_id=3783214&mc=25&forum_id=2#34586561

Edit: CNBC article: https://www.cnbc.com/2017/11/02/house-republicans-unveil-tax-reform-plan.html

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587449)



Reply Favorite

Date: November 2nd, 2017 11:51 AM
Author: Floppy psychic senate

I'm still LOLing at lawcucks getting pwned

meanwhile, I have a c-corp already in use I can migrate everything into and probably shave 5-10% off



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587483)



Reply Favorite

Date: November 2nd, 2017 11:52 AM
Author: carnelian base

law-cucks didn't get owned brother.

Their overall taxes will go down

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587488)



Reply Favorite

Date: November 2nd, 2017 11:53 AM
Author: Floppy psychic senate

they aren't getting the pass-through benefit so I disagree with this, at least for the higher end lawlers

most lawlers are flat broke so this will benefit them for sure

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587501)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: carnelian base

Associates will all benefit. Fuck partners.

And how are you getting pass through benefit? Did you read the thing on S-corps? They aren't treating people like you as corps and taxing you normal income rate

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587518)



Reply Favorite

Date: November 2nd, 2017 11:56 AM
Author: Floppy psychic senate

c-corps aren't pass through entities, bro. s-corps are. I'll close my s-corp and migrate everything into my c-corp which has a max 20% rate instead of the current 35%

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587536)



Reply Favorite

Date: November 2nd, 2017 11:56 AM
Author: carnelian base

ah C-corp.

Are you going to call everything profit? Your salary will be taxed twice.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587538)



Reply Favorite

Date: November 2nd, 2017 11:58 AM
Author: Floppy psychic senate

I don't think that far ahead. that's what my accountant is for ;)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587555)



Reply Favorite

Date: November 2nd, 2017 4:47 PM
Author: filthy property

LMFAO

"won't bother me, I filed a couple pieces of paper with the secretary of state and I'm a tax mitigating masterman, soooooo smart!"

"hey you know your salary gets hit twice and you have to dick around with your dividends and..."

"whoa whoa whoa hey buddy I let the accountants handle the math, ya know?"

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589939)



Reply Favorite

Date: November 2nd, 2017 11:53 AM
Author: Purple multi-billionaire

dumb here. what's so great about it?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587494)



Reply Favorite

Date: November 2nd, 2017 11:54 AM
Author: carnelian base

Tax brackets are lowered. Keep 401ks. Keep state deductions up to $10k. Keep mortgage interest rate deduction up to $500k worth of loan. Doubled standard deduction.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587506)



Reply Favorite

Date: November 2nd, 2017 11:54 AM
Author: Purple multi-billionaire

so UMCs not fucked?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587513)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: Know-it-all drunken quadroon

what does it do to the death tax? does it repeal the AMT?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587517)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: carnelian base

estate tax cap gone in 6 years, exemption doubled for now. AMT gone

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587523)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: Know-it-all drunken quadroon

87654321235676543212345678765432345

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587528)



Reply Favorite

Date: November 2nd, 2017 11:57 AM
Author: carnelian base

yeah the entire thing is completely 180

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587539)



Reply Favorite

Date: November 2nd, 2017 11:57 AM
Author: Know-it-all drunken quadroon

freedom cuckus and blue state House Republicans better not fuck this up

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587546)



Reply Favorite

Date: November 2nd, 2017 11:59 AM
Author: carnelian base

I'm not even sure what dems won't like except the state deduction cap

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587568)



Reply Favorite

Date: November 2nd, 2017 4:32 PM
Author: Maniacal sanctuary trust fund

naw everyone likes this

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589792)



Reply Favorite

Date: November 2nd, 2017 11:55 AM
Author: Razzmatazz degenerate rehab

I read this in Mark Renton's voice.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587530)



Reply Favorite

Date: November 2nd, 2017 1:54 PM
Author: startled old irish cottage



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588597)



Reply Favorite

Date: November 2nd, 2017 12:49 PM
Author: thriller international law enforcement agency legal warrant

The article said state and local property tax, not income

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588062)



Reply Favorite

Date: November 2nd, 2017 3:37 PM
Author: rusted exciting orchestra pit

AMT is rapepwned is the part i'm excited about

i am pissed SALT is still in, it's a fucking handout from red states to blue states, fed gov needs to stop subsidizing cali's bs

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589350)



Reply Favorite

Date: November 2nd, 2017 4:50 PM
Author: filthy property

lol, jesus dude

you have a childlike grasp of this stuff

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589972)



Reply Favorite

Date: November 2nd, 2017 11:57 AM
Author: Cyan legend

can someone c/p the whole thing? thank.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587545)



Reply Favorite

Date: November 2nd, 2017 11:57 AM
Author: carnelian base

https://www.cnbc.com/2017/11/02/house-republicans-unveil-tax-reform-plan.html

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587549)



Reply Favorite

Date: November 2nd, 2017 11:59 AM
Author: Purple multi-billionaire

We have ~$300K HHI in a high COL state. Wagecucks, mortgage. Does this plan help us?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587566)



Reply Favorite

Date: November 2nd, 2017 12:00 PM
Author: Know-it-all drunken quadroon

LOL @ sociopaths who ask what's best for them instead of what's best for America

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587574)



Reply Favorite

Date: November 2nd, 2017 12:01 PM
Author: Purple multi-billionaire

so does it help me or not? serious q

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587578)



Reply Favorite

Date: November 2nd, 2017 12:02 PM
Author: Floppy psychic senate

UMC W2cucks in million dollar homes are going to get boned and end up paying more. nobody cares about you.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587588)



Reply Favorite

Date: November 2nd, 2017 12:13 PM
Author: carnelian base

For a million dollar loan it's only like $6-$7k more a year in taxes for the FIRST year. Get less every year after that

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587671)



Reply Favorite

Date: November 2nd, 2017 5:37 PM
Author: kink-friendly excitant menage



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590320)



Reply Favorite

Date: November 2nd, 2017 12:47 PM
Author: Motley Dingle Berry



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588039)



Reply Favorite

Date: November 2nd, 2017 12:01 PM
Author: carnelian base

Your income from $90k-$260k is only capped at 25%. The next $40k is at 35%. It should help.

But if you are in a huge state taxes state it will probably hurt a tad

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587586)



Reply Favorite

Date: November 2nd, 2017 12:16 PM
Author: Coral preventive strike den

seems cr

DINK with HHI ~330k, i'd have about 43k in deductions under the current system and if a couple of assumptions are correct (e.g. personal exemption disappearing), looks like reasonable worst case under new system is that i owe an additional 1.5-2.5k if i didn't itemize, but i probably would still be able to itemize so knock off another 1k or so from that. NBD

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587697)



Reply Favorite

Date: November 2nd, 2017 12:18 PM
Author: sapphire histrionic garrison

No you’re getting fucked. Chances are your mortgage is more than $500k and your SALT deductions are way over $10k.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587725)



Reply Favorite

Date: November 2nd, 2017 12:21 PM
Author: Purple multi-billionaire

fuck.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587773)



Reply Favorite

Date: November 2nd, 2017 12:25 PM
Author: carnelian base

Eh not on $300 income. Depends on his interest payments

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587817)



Reply Favorite

Date: November 2nd, 2017 12:26 PM
Author: garnet market selfie

Also, even though you'll get a slightly lower marginal tax rate, you're losing the $4,000 in personal exemptions you currently get.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587829)



Reply Favorite

Date: November 2nd, 2017 12:29 PM
Author: startling church building

So everyone loses the exemptions, but the standard deduction is doubled for poors.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587877)



Reply Favorite

Date: November 2nd, 2017 12:40 PM
Author: sapphire histrionic garrison

We are getting fucked hardcore. It is like ~$50-60k of deductions going away. Elimination of AMT will help somewhat to soften the blow but not nearly enough.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587981)



Reply Favorite

Date: November 2nd, 2017 12:48 PM
Author: carnelian base

It can't be that much. You can still deduct interest for loan amount up to $500.

Thats like $22,000 a year in interest deduction you lose for your first year of loan. Goes down every year after that.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588049)



Reply Favorite

Date: November 2nd, 2017 1:18 PM
Author: sapphire histrionic garrison

I was talking more about state tax deduction. I paid $50k in state taxes last year.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588306)



Reply Favorite

Date: November 2nd, 2017 10:39 PM
Author: Fragrant Station

Jfc California

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592468)



Reply Favorite

Date: November 2nd, 2017 1:52 PM
Author: Dun vigorous chapel

180

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588575)



Reply Favorite

Date: November 2nd, 2017 11:23 PM
Author: burgundy rigor

For most high-income wage earners who pay a lot of state and local income taxes, itemized deductions weren't as valuable as they looked. AMT and Pease walked most of it back unless your circumstances were unusual. So this bill is probably closer to neutral for you than you think.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592838)



Reply Favorite

Date: November 2nd, 2017 12:39 PM
Author: diverse insane sweet tailpipe wagecucks

Property values in pricey areas will get raped too.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587971)



Reply Favorite

Date: November 2nd, 2017 12:42 PM
Author: sapphire histrionic garrison

As much as I’d like for that to be the case, mortgage rates themselves and all cash buyers rather than mortgage interest deduction will keep things inflated.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588002)



Reply Favorite

Date: November 2nd, 2017 5:06 PM
Author: stirring azn

This is a mixed blessing.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590075)



Reply Favorite

Date: November 2nd, 2017 5:09 PM
Author: Motley Dingle Berry

180

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590106)



Reply Favorite

Date: November 2nd, 2017 12:59 PM
Author: saffron house juggernaut

only applies to homes purchased after the bill. old homes keep 1mil deduction

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588145)



Reply Favorite

Date: November 2nd, 2017 1:01 PM
Author: startling church building

fucking scum boomers.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588153)



Reply Favorite

Date: November 2nd, 2017 5:05 PM
Author: stirring azn

Didn't the article say the mortgage interest change was only for newly purchased homes?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590069)



Reply Favorite

Date: November 2nd, 2017 10:43 PM
Author: diverse insane sweet tailpipe wagecucks

(Boomer who will never ever move)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592495)



Reply Favorite

Date: November 2nd, 2017 12:01 PM
Author: twisted titillating karate hall

how much does this add to the deficit?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587579)



Reply Favorite

Date: November 2nd, 2017 3:40 PM
Author: rusted exciting orchestra pit

1.5T i think

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589376)



Reply Favorite

Date: November 2nd, 2017 12:05 PM
Author: Exhilarant Public Bath

So everyone gets what they want except high end homebuilders? That has to fuck the budget in its ass, right?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587607)



Reply Favorite

Date: November 2nd, 2017 12:09 PM
Author: gay indirect expression yarmulke

I’m eyeing the housing market in DC and NYC and Boston and California.

All those 1.5 million shitshacks are going to take a tumbling. Which is great for me when I move back to the US.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587640)



Reply Favorite

Date: November 2nd, 2017 12:10 PM
Author: carnelian base

I think taxes may be raised upper middle class on people in NY and California but fuck them.

Except no more AMT i think so maybe not

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587647)



Reply Favorite

Date: November 2nd, 2017 12:12 PM
Author: comical amethyst corn cake

lmao @ earl

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587664)



Reply Favorite

Date: November 2nd, 2017 12:17 PM
Author: anal dead blood rage



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587704)



Reply Favorite

Date: November 2nd, 2017 12:18 PM
Author: Exhilarant Public Bath

Yeah a chance of higher rate but no amt... can't tell how it'll work out.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587713)



Reply Favorite

Date: November 2nd, 2017 12:20 PM
Author: carnelian base

And there's a tax break for poors, middle class, and your investments

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587756)



Reply Favorite

Date: November 2nd, 2017 12:26 PM
Author: Exhilarant Public Bath

Investments? You mean the pass through stuff or did they do something with cap gains?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587833)



Reply Favorite

Date: November 2nd, 2017 12:28 PM
Author: carnelian base

Corporate taxes

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587856)



Reply Favorite

Date: November 2nd, 2017 12:24 PM
Author: Appetizing abusive hell clown

So I get double standard deduction at 12,700, instead of the 26000, or so local tax deduction. But also, AMT goes away and I probably get a slight reduction based on the bracket shrinkage. So I'm what, dead even?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587814)



Reply Favorite

Date: November 2nd, 2017 12:25 PM
Author: carnelian base

Probably. But this wasn't about cutting taxes for upper middle class

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587822)



Reply Favorite

Date: November 2nd, 2017 12:27 PM
Author: Appetizing abusive hell clown

I get that, just trying to figure out the impact on me.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587849)



Reply Favorite

Date: November 2nd, 2017 12:26 PM
Author: startling church building

This is confusing as hell, but I assume it will fuck me hard.

Is the mortgage interest deduction grandfathered in? The cap on deducting state taxes will really fuck me because I think I pay something like $30,000 in state taxes.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587842)



Reply Favorite

Date: November 2nd, 2017 12:28 PM
Author: carnelian base

yes it's grandfathered in.

But to be fair, it was people like you who GOP was trying to fuck. 99% of them are shitlibs.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587862)



Reply Favorite

Date: November 2nd, 2017 12:30 PM
Author: startling church building

So on one hand, the cap on the interest deduction will not affect my current home, but it may hurt the sale price when I eventually sell it. It will not be available when I buy my more expensive next time in five years, but it may contribute to the place being lowered.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587891)



Reply Favorite

Date: November 2nd, 2017 12:33 PM
Author: carnelian base

Don't you have to pay the AMT?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587916)



Reply Favorite

Date: November 2nd, 2017 12:34 PM
Author: startling church building

I sure did.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587926)



Reply Favorite

Date: November 2nd, 2017 12:39 PM
Author: carnelian base

That'll be gone

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587972)



Reply Favorite

Date: November 2nd, 2017 12:30 PM
Author: Multi-colored ungodly double fault friendly grandma

Major Trumpmo here. I'm getting fucked under this deal.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587893)



Reply Favorite

Date: November 2nd, 2017 12:31 PM
Author: Purple multi-billionaire

how so?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587902)



Reply Favorite

Date: November 2nd, 2017 12:33 PM
Author: Multi-colored ungodly double fault friendly grandma

SALT. S Corp pass thru taxation (although I didn't see this, I'm just gleaning from the comments here).

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587918)



Reply Favorite

Date: November 2nd, 2017 12:35 PM
Author: carnelian base

How would the S-corp thing hurt you? It can only help

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587928)



Reply Favorite

Date: November 2nd, 2017 12:36 PM
Author: Multi-colored ungodly double fault friendly grandma

Revenue would be taxed twice, no?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587943)



Reply Favorite

Date: November 2nd, 2017 12:37 PM
Author: Exhilarant Public Bath

It's pass through same as before.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587950)



Reply Favorite

Date: November 2nd, 2017 4:54 PM
Author: filthy property

'pass-through'

*drools*

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589990)



Reply Favorite

Date: November 2nd, 2017 12:36 PM
Author: Exhilarant Public Bath

Lawyer? Doesn't sound like S Corp is changing for you.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587946)



Reply Favorite

Date: November 2nd, 2017 12:37 PM
Author: Multi-colored ungodly double fault friendly grandma

Nice! Still going to get boned on SALT though.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587953)



Reply Favorite

Date: November 2nd, 2017 12:32 PM
Author: carnelian base

State your income and state

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587909)



Reply Favorite

Date: November 2nd, 2017 12:35 PM
Author: Multi-colored ungodly double fault friendly grandma

NY. Property taxes are 15k. Income is idk because I just joined a small firm as a partner on a purely eat what you kill arrangement. Probably 175k-200k paid to my s corp from the partnership next year

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587935)



Reply Favorite

Date: November 2nd, 2017 12:40 PM
Author: carnelian base

Income tax rate will be lowered a good bit

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587977)



Reply Favorite

Date: November 2nd, 2017 12:38 PM
Author: startling church building

Is there a cap on property tax deductions which is separate from the mortgage tax deduction? I just realize that if they get rid of the alternative minimum tax, I may be able to start deducting my property taxes again which would be nice.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587960)



Reply Favorite

Date: November 2nd, 2017 12:40 PM
Author: Insanely Creepy Jew Roommate

property tax deduction would fall under state and local tax deduction which I think is now capped at $10k under this plan.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587985)



Reply Favorite

Date: November 2nd, 2017 12:43 PM
Author: startling church building

lol so $10K total? Fuck my ass kyle.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588006)



Reply Favorite

Date: November 2nd, 2017 12:45 PM
Author: Exhilarant Public Bath

It's separate, to answer your question. You get the interest deduction plus 10k of local/ state/ property tax.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588027)



Reply Favorite

Date: November 2nd, 2017 12:54 PM
Author: thriller international law enforcement agency legal warrant

PROPERTY TAX. You get zero state tax deduction as I read it

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588094)



Reply Favorite

Date: November 2nd, 2017 5:16 PM
Author: Maniacal sanctuary trust fund



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590165)



Reply Favorite

Date: November 2nd, 2017 12:41 PM
Author: Coral preventive strike den

looks like capped at 10k but who knows where that ends up

prop tax, SALT, and mtg interest all seem like candidates to get tweaked between now and a vote

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587993)



Reply Favorite

Date: November 2nd, 2017 12:44 PM
Author: startling church building

is it capped separately or is state income tax + property tax capped at $10K together?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588017)



Reply Favorite

Date: November 2nd, 2017 12:47 PM
Author: carnelian base

All SALT (including property) deductions capped at $10k.

Pay up shitlibs

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588038)



Reply Favorite

Date: November 2nd, 2017 7:21 PM
Author: Vivacious costumed regret deer antler



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591071)



Reply Favorite

Date: November 2nd, 2017 12:47 PM
Author: Insanely Creepy Jew Roommate

State and local is capped at $10k total.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588043)



Reply Favorite

Date: November 2nd, 2017 12:43 PM
Author: garnet market selfie

AMT is gone but it's a red herring. You'll never get close to hitting AMT now. Basically, the only itemized deductions that will be left are up to $10k per year on property taxes, interest on $500k mortgages, and charitable donations. That's it.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588005)



Reply Favorite

Date: November 2nd, 2017 12:44 PM
Author: Floppy psychic senate

(Guy who doesn’t have oil and gas assets or rental properties)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588013)



Reply Favorite

Date: November 2nd, 2017 12:45 PM
Author: startling church building

business expenses taken through an S or C corp are not itemized deductions.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588023)



Reply Favorite

Date: November 2nd, 2017 12:51 PM
Author: Floppy psychic senate

Right, but all this shrieking about itemized deductions getting axed is solved by my previous post

Businesses (especially real estate) are getting preferential treatment. Wagecucks are getting boned.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588079)



Reply Favorite

Date: November 2nd, 2017 1:10 PM
Author: startling church building

not small businesses.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588236)



Reply Favorite

Date: November 2nd, 2017 12:40 PM
Author: Cracking nofapping brethren

Anti trump person here. I make out like a bandit with these cuts. Moving to the south was a great move. LOL at suburban NY Trumpmos about to get crushed.

Not sure it’s wise to be adding so much to the deficit but at least I’m getting my piece.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34587978)



Reply Favorite

Date: November 2nd, 2017 12:45 PM
Author: carnelian base

Nah shitlibs in SF, LA, and MFH are paying up so it won't add to deficit. Fuck yeah

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588020)



Reply Favorite

Date: November 2nd, 2017 1:02 PM
Author: Cracking nofapping brethren

I could get behind this if he’d stop with the tantrums and hiring all these hacks.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588167)



Reply Favorite

Date: November 2nd, 2017 12:53 PM
Author: startling church building

So last year I paid $35,000 in state income tax, $10,000 in property taxes, and something like $8,000 or $9,000 in AMT. Also deducted $24,000 in mortgage interest.

Sounds like I am fucked...

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588087)



Reply Favorite

Date: November 2nd, 2017 12:59 PM
Author: carnelian base

Youll still be able to deduct most of that mortgage interest. The longer you've had it and less the loan is over $500k the more youll still get to deduct.

You will go from $69,000 in deductions to probably like $25,000-$30k, which would be about $14k extra in taxes but the AMT elimination makes up for a lot of that disparity and your actual income tax will be lowered.

You'll pay like $5k more maybe.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588144)



Reply Favorite

Date: November 2nd, 2017 1:03 PM
Author: Insanely Creepy Jew Roommate

This is the fuck homeowners in first tier metro areas bill. $10k+ is the norm just for property taxes in NYC suburbs, let alone state income tax. A slight reduction in rates isn't going to make up for all of that.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588178)



Reply Favorite

Date: November 2nd, 2017 1:09 PM
Author: carnelian base

These are people that deserve to be fucked, i.e. shitlibs.

They can pay for all the shit they demand for minorities and poors.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588225)



Reply Favorite

Date: November 2nd, 2017 1:24 PM
Author: Insanely Creepy Jew Roommate

Our states usually pay out more in federal taxes than we take in. This makes the disparity even worse.

https://people.howstuffworks.com/which-states-give-the-most-the-federal-government-which-get-the-most.htm

"Henchman is a Californian himself and understands why his Golden State neighbors grumble about subsidizing federal aid programs in other states. For one thing, large amounts of federal spending allow red state governments to keep their taxes artificially low. The highest individual state income tax rate in Mississippi and Alabama in 2016 was 5 percent, while top-earners in California and New York paid 13.3 percent and 8.82 percent respectively."

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588356)



Reply Favorite

Date: November 2nd, 2017 4:12 PM
Author: rusted exciting orchestra pit

Good. This federal spending is shitlibs' doing. Strip it. Maybe they'll stop voting for shitlib stuff, and maybe it'll make rapetiles realize they need to spend a little more to keep there from being a billion homeless twinks in alabama.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589611)



Reply Favorite

Date: November 2nd, 2017 5:38 PM
Author: Bisexual mildly autistic generalized bond internal respiration

lol get fucked

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590328)



Reply Favorite

Date: November 2nd, 2017 5:41 PM
Author: Coral preventive strike den

enjoy!

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590345)



Reply Favorite

Date: November 2nd, 2017 6:02 PM
Author: thriller international law enforcement agency legal warrant

(New states rights activist)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590494)



Reply Favorite

Date: November 2nd, 2017 7:23 PM
Author: godawful lettuce chad



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591082)



Reply Favorite

Date: November 2nd, 2017 7:58 PM
Author: Maniacal sanctuary trust fund



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591268)



Reply Favorite

Date: November 2nd, 2017 1:55 PM
Author: stimulating angry main people stag film

Those guys need to get fucked. I am ok with this.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588598)



Reply Favorite

Date: November 2nd, 2017 3:43 PM
Author: Deep Home Hissy Fit

then don't fucking live in the NYC suburbs if you can't afford the taxes. or stop electing shitlibs who get the taxes to those levels in the first place.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589397)



Reply Favorite

Date: November 2nd, 2017 4:14 PM
Author: Maniacal sanctuary trust fund



(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589626)



Reply Favorite

Date: November 2nd, 2017 5:09 PM
Author: cream trip area

Now you’re subsidizing corporations AND poors.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590101)



Reply Favorite

Date: November 2nd, 2017 11:39 PM
Author: Vibrant doctorate becky

(tax welfare queen)

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592981)



Reply Favorite

Date: November 2nd, 2017 1:10 PM
Author: magical headpube theater

is it mortgage interest for homes up to 500K, or mortgage interest for mortgage up to 500K?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588237)



Reply Favorite

Date: November 2nd, 2017 1:14 PM
Author: carnelian base

Mortgage

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588265)



Reply Favorite

Date: November 2nd, 2017 5:13 PM
Author: stirring azn

This definitely helps with future purchases (for current homeowners).

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34590140)



Reply Favorite

Date: November 2nd, 2017 1:13 PM
Author: Razzmatazz degenerate rehab

Trump has a good heart.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34588249)



Reply Favorite

Date: November 2nd, 2017 3:16 PM
Author: Fishy cruise ship

Does it take effect for 2017 taxes?

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589176)



Reply Favorite

Date: November 2nd, 2017 3:28 PM
Author: Coral preventive strike den

no way it's retroactive, would fuck up withholding penalties and a bunch of other things. at this point they'll be lucky if they get it done in time for 2018

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589268)



Reply Favorite

Date: November 2nd, 2017 3:44 PM
Author: Fishy cruise ship

Damn BORING

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589404)



Reply Favorite

Date: November 2nd, 2017 3:47 PM
Author: Slate nighttime state boistinker

loling at all the blue state republican like Nutella who thought they were going to save some cash. Fuck em!

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589418)



Reply Favorite

Date: November 2nd, 2017 3:52 PM
Author: cobalt adventurous patrolman filthpig

Not a Trumpmo, but TBF, this shit delivers for the middle class

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34589461)



Reply Favorite

Date: November 2nd, 2017 11:40 PM
Author: Vibrant doctorate becky

not really. the simplification is great, but it adds to the deficit bigly to fund massive cuts for corps and pass-through businesses. the ultra rich are going to make out like bandits.

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34592994)



Reply Favorite

Date: November 2nd, 2017 7:24 PM
Author: Idiotic big athletic conference field

lol debtcucks you're all gonna starve

(http://www.autoadmit.com/thread.php?thread_id=3783306&forum_id=2#34591086)