Federal Tax Cuts Leave States in a Bind
- Thread starter 88m3
- Start date
the cac mamba
Veteran
i wonder if any of those states have problems with spending that need to be looked at 
dumbass republicans 
THE SAME shyt HAPPENED UNDER BUSH!!!
THE SAME shyt HAPPENED UNDER BUSH!!!
In Minnesota, the state estimates that residents could pay more than $400 million in additional state taxes in the next fiscal year because of the new federal law. That has set off a fight over how to respond. The state’s Democratic governor wants to give most of that money back to Minnesotans through tax cuts aimed at low- and moderate-income families; the Republican-controlled legislature wants broader-based tax cuts. Both sides say they must resolve the issue before the legislative session ends May 21.
More tax cuts is the answer
More tax cuts is the answer
I really don't care. That tax cut helped me out significantly with the standard deduction going way up.
You've already filed for next year?
88m3
Fast Money & Foreign Objects
@The Black Panther your state?
I'll have to examine this in depth. I'm not sure how this will affect my state taxes, but I'm in a red state, so they'll probably go up.
In all fairness it's not that hard to figure out what you'll get back next year if you have an idea of how much you'll make, retirement account contributions that can lower your taxable income, tax credits you can receive, and how the brackets work. It's very easy under the new tax plan to figure out depending on your circumstances. Hate to say it but my wife and I make out well. I did the math and we'll looking at an extra $3000 a year in our pockets. I even passed the math by out accountant and he said it was accurate I owed a lot of money a couple of years ago and wanted to know why do I owe, so taught myself about taxes.You've already filed for next year?
88m3
Fast Money & Foreign Objects
I'll have to examine this in depth. I'm not sure how this will affect my state taxes, but I'm in a red state, so they'll probably go up.
It's focuses on Minnesota
Wakanda is not in Minnesota. Neither is @The Black Panther . :bpgucci:It's focuses on Minnesota
88m3
Fast Money & Foreign Objects
Breh, it was a joke based on tense.
You've already filed for next year?
BUSTEDthought he was going to sneak a trump commercial in on us
Oh and NEGGED
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I had my accountant do an 2018 analysis. I recently sold my condo and have been sitting on a lot of cash but because I no longer could write off my house interest I got killed. Since the standard deduction went up, the 8 thousand I had to pay this year to Uncle Sam will no longer happen. I keep things the way they are (withholdings, interest, etc) it will come out as wash.
I hate to say it but at the very least Trumps' presidency helps Californians who make above 100k and do not own a home.
I hate to say it but at the very least Trumps' presidency helps Californians who make above 100k and do not own a home.