Simple to use.   Post up what you would save or pay in extra.  Simple for those without S corp income.  

http://taxplancalculator.com/

 

Edited December 19, 20177 yr by Highmark

Save 1,768. Live In Iowa

I can't really do my own cuz I can fluctuate depending on codes.   I just ran a bunch of scenarios from in the 50K mark to the 150k range.  Average savings was over $2k.

 

It said I'd save well over 3k

save 3926

new york, save $1811

$7100 in savings  I'll believe it when I see it and I'm still opposed to it.....cause I see the big picture👍

Edited December 19, 20177 yr by SnowRider

Just now, f7ben said:

save 3926

   All that bitching for nothing.  

Just now, SnowRider said:

$7100 in savings  Il believe it when I see it and I'm still opposed to it.....cause I see the big picture👍

Well you can always give them the old total or more!  

Just now, Highmark said:

   All that bitching for nothing.  

The house plan had some real issues.....I bitched less then the Senate plan was released 

$4184 for me this year.  Future years will be closer to $2300 because I will have less income.  

6 minutes ago, Highmark said:

Well you can always give them the old total or more!  

Or, he can donate his savings to a charity to help out the Muslims in his neighborhood.  Seems simple enough to me...and most.

11 minutes ago, SnowRider said:

$7100 in savings  I'll believe it when I see it and I'm still opposed to it.....cause I see the big picture👍

So you made over $230,000 this year? 

6 minutes ago, AKIQPilot said:

So you made over $230,000 this year? 

I dont recall how many kids Greg has but his income would not need to be that high to get 7100 in savings 

$1863

i also switch from itemizing to standard deduction which will be nice.

4 minutes ago, f7ben said:

I dont recall how many kids Greg has but his income would not need to be that high to get 7100 in savings 

I did some playing around with numbers and I agree.   

Edited December 19, 20177 yr by Highmark

6 minutes ago, f7ben said:

I dont recall how many kids Greg has but his income would not need to be that high to get 7100 in savings 

Roger.    

Either way it will be some nice spending money.  

$1975. I need to pump out some child beasts apparently...

Just did this in Iowa.

75K income 4 dependents filing jointly standard deduction saves $2874

125K income 4 dependents filing jointly standard deduction saves $3737

250K income 4 dependents filing jointly standard deduction saves $5094 (previous itemized of 18k)

500K income 4 dependents filing jointly standard deduction  saves $7066 (previous itemized of 18k)

1M income 4 dependents filing jointly standard deduction saves $5567 (previous itemized of 18k)

This plan does not benefit the wealthy.  

Edited December 19, 20177 yr by Highmark

Just now, Highmark said:

Just did this in Iowa.

250K income 4 dependents filing jointly standard deduction saves $5094

500K income 4 dependents filing jointly standard deduction  saves $7066

1M income 4 dependents filing jointly standard deduction saves $5567

This plan does not benefit the wealthy.  

there are several other things in it that will benefit them greatly....

Just now, f7ben said:

there are several other things in it that will benefit them greatly....

For example?

19 minutes ago, f7ben said:

I dont recall how many kids Greg has but his income would not need to be that high to get 7100 in savings 

i came up with a number higher than that to see that kind of savings

 

in nh i was 2800 less and can just take standard deduction so i would prob pay off my house in the next few years since I only have that for tax purposes.  

7 minutes ago, Highmark said:

For example?

Changes to the AMT and the Estate tax

Estate tax change only effects the blue bloods who certainly can afford to pay some estate tax since they didn;t earn what is being inherited

2 minutes ago, Angry ginger said:

Estate tax change only effects the blue bloods who certainly can afford to pay some estate tax since they didn;t earn what is being inherited

It is a big benefit to the rich though. Doubling the exempt amount from 11 to 22 million is a big bump. I am fine with it and am glad they kept it as the house wanted to eliminate it all together. 

Tax Reform Bill
You'd save $11,283