Reply to Trump actually raised my taxes

Forum Index » Money and Finances

Reply to "Trump actually raised my taxes"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Very high income and net worth. Because of the decrease in deductions from the 37% rate to the 32% rate I actually got the worst of all worlds. Tax increase and massive increase to debt. Plus this bill hurts people.  I didn’t see that coming.

FYI, letting the last Trump tax increases lapse would have been better. The increased SALT deduction would have nearly offset the tax increase. And having less debt as a country would have improved my borrowing rates. [/quote]

We are in a similar situation as you. DH's salary is $565k with annual bonus sometimes exceeding $600K, which is deferred. However he is retiring end of this year, so income will shrink. The payouts for deferred comp will start next year, but should never exceed $500K (although it will be close). I guess as the market grows however, it would get higher and we will be over the phase out again. Plus we also have to consider dividend income. I guess we are never going to be able to take advantage of SALT. The only recourse is to move to a state with lower or no income tax.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics