Anonymous wrote:"Tax Cuts" is very misleading. For the most part, the current tax bill just extends what currently exists since 2017.

The only new benefits are the increase in SALT, which has been raised from $10k to $30k...though the NY and CA republicans want to raise this to $100k.

They are also eliminating SS payment taxes, but I think those phase out based on overall income.

Did the elimination of taxes on social security benefits make it through the final house bill?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:SALT deduction.

10?
20?
30?

What’s it going to eventually be?

It will stay at 10. The NY/CA/NJ Republicans will get rolled.

It seems like everyone has agreed on 30...but the NY/CA/NJ want it to be $100k.

Hopefully it will be a lot higher. Why should NY/CA/NJ subsidize the rest of the country?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:SALT deduction.

10?
20?
30?

What’s it going to eventually be?

It will stay at 10. The NY/CA/NJ Republicans will get rolled.

It seems like everyone has agreed on 30...but the NY/CA/NJ want it to be $100k.

Oh, hadn't paid close enough attention, thanks for the update. Seems like they are going to have a tough road to get it above $30k. Still think they will get rolled.

I suspect that's because they don't expect 30K as an initial offer to make it into the final bill unscathed.

Will there even be a final bill?

https://bsky.app/profile/sahilkapur.bsky.social/post/3lpcfodafbc2z

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:SALT deduction.

10?
20?
30?

What’s it going to eventually be?

It will stay at 10. The NY/CA/NJ Republicans will get rolled.

It seems like everyone has agreed on 30...but the NY/CA/NJ want it to be $100k.

Oh, hadn't paid close enough attention, thanks for the update. Seems like they are going to have a tough road to get it above $30k. Still think they will get rolled.

I suspect that's because they don't expect 30K as an initial offer to make it into the final bill unscathed.

Anonymous wrote:

Anonymous wrote:SALT deduction.

10?
20?
30?

What’s it going to eventually be?

It will stay at 10. The NY/CA/NJ Republicans will get rolled.

No it wont. I think they will at least get it to 10K person so 20K a married couple. It is crazy two unmarried people who live together get a 20K write off and a married couple gets 10K. I think 30K-50K with income cap is magic number as will help tons of middle class families.

The real winners are married people over 65 with no mortgage who make under 150K with the new extra 4K deduction for being 65 and over who live in high income and property tax states.

I am in MoCo and my block is full of people over 65 who live in homes now worth 2-3 million they bought many many years ago with high property tax who cant itemize as MoCo income tax and MoCo property tax has a 10K cap. And some have small vacation homes or vacation condos with property tax they also cant write off.


And easy to keep income uner 150K if retired.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:SALT deduction.

10?
20?
30?

What’s it going to eventually be?

It will stay at 10. The NY/CA/NJ Republicans will get rolled.

It seems like everyone has agreed on 30...but the NY/CA/NJ want it to be $100k.

Oh, hadn't paid close enough attention, thanks for the update. Seems like they are going to have a tough road to get it above $30k. Still think they will get rolled.

I heard there was going to be an income cap of $400k. Unclear if that would be for any deduction or just the portion above $10k or what.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:SALT deduction.

10?
20?
30?

What’s it going to eventually be?

It will stay at 10. The NY/CA/NJ Republicans will get rolled.

It seems like everyone has agreed on 30...but the NY/CA/NJ want it to be $100k.

Oh, hadn't paid close enough attention, thanks for the update. Seems like they are going to have a tough road to get it above $30k. Still think they will get rolled.

Depends on how you earn your income - w2 or K1.

Anonymous wrote:

Anonymous wrote:SALT deduction.

10?
20?
30?

What’s it going to eventually be?

It will stay at 10. The NY/CA/NJ Republicans will get rolled.

It seems like everyone has agreed on 30...but the NY/CA/NJ want it to be $100k.

"Tax Cuts" is very misleading. For the most part, the current tax bill just extends what currently exists since 2017.

The only new benefits are the increase in SALT, which has been raised from $10k to $30k...though the NY and CA republicans want to raise this to $100k.

They are also eliminating SS payment taxes, but I think those phase out based on overall income.

Anonymous wrote:SALT deduction.

10?
20?
30?

What’s it going to eventually be?

It will stay at 10. The NY/CA/NJ Republicans will get rolled.

Anonymous wrote:I'm pp and also to be clear, I'd rather have my taxes go up to ensure a healthy community and nation. Which also benefits me.

That’s great, but in the real world the MAGA Congress and Trump regime aren’t going to spend the money on that. They’ll spend the money on prisons, deportations, and bombs.

SALT deduction.

10?
20?
30?

What’s it going to eventually be?

I'm pp and also to be clear, I'd rather have my taxes go up to ensure a healthy community and nation. Which also benefits me.