2018 Tax Calculator - CNN Version.

[McRat]

Use this calculator to see how the tax bill affects your paycheck - CNNPolitics

But don't take it too seriously.

I should save about 10% next year and that doesn't count my Solar deduction or EV credits.

CNN says 0.8% savings.

 

[professionalr]

Use this calculator to see how the tax bill affects your paycheck - CNNPolitics

But don't take it too seriously.

I should save about 10% next year and that doesn't count my Solar deduction or EV credits.

CNN says 0.8% savings.

Screw fake news CNN, use this calculator instead: Tax Plan Calculator by Maxim Lott

 

[McRat]

I also found this interesting:

Tax Cuts and Jobs Act of 2017 - Wikipedia

I used to donate $500 a year to Wiki. Never again. That is a production piece by a political body with a lot of resources.

Wiki has always had a slant, but today, it's simply the editorial page of the LA Times.

 

[ItsNotAboutTheMoney]

I also found this interesting:

Tax Cuts and Jobs Act of 2017 - Wikipedia

I used to donate $500 a year to Wiki. Never again. That is a production piece by a political body.

Wiki has always had a slant, but today, it's simply the editorial page of the LA Times.

You know that you can edit it, right? That's how a wiki works.

 

[McRat]

You know that you can edit it, right? That's how a wiki works.

I didn't do well in Creative Writing, and I did too well in Journalism to invent suitable content.

But I did stay at a Holiday Inn Express once. :-D

 

[JenniferQ]

Hm. We shall see. Very different results from these two you posted.

 

[NewTMSMan]

Hm. We shall see. Very different results from these two you posted. View attachment 268220 View attachment 268221

Interesting, I got almost the same result from both sites.

 

[McRat]

Hm. We shall see. Very different results from these two you posted. View attachment 268220 View attachment 268221

I did my calcs based on the Bill. I don't pay enough California taxes as an individual for it to have any negative effect. Both my wife and I draw a 5 digit salary due to the draconian tax code. So I'm middle class and going to save big. Especially on the corporate end of things.

 

[JenniferQ]

Yeah, our property taxes are high so that will hurt a lot. Although percentage-wise we pay half of what we did in Texas, so it about equals out. We'd be equally hurt if we still lived there, so not a big deal. Much prefer my Sunshine Tax.

 

[cartwright]

My tax will be going up, but not enough to really make a difference to me. Overall, I personally think lower taxes is a good thing, if I have to be part of the 5% that pays more in taxes, so be it.

 

[Tiger]

We have zero corporate taxes and a doctor's visit costs 5 €. It can't be that hard, how can US mess it up that bad?

 

[JenniferQ]

Lobbyists.

 

[cpa]

These calculators work pretty well if the taxpayer only has W-2 wages and a little investment income. Itemized deductions start to get a little tricky because miscellaneous itemized deductions go away, and any home mortgage interest that results from a prior refinance where cash was pulled out or a home equity line of credit will no longer be deductible come January 1. In other words, those loans are not grandfathered into the new law. You taxpayers are going to have to dig into your files and allocate your home mortgage interest on a percentage basis between acquisition debt (deductible) and refinance/home equity debt (not deductible.)

The calculators break down if a taxpayer has multiple sources of income--capital gains, self-employment, rents, investment partnerships and S Corporations, trusts, and the like.

 

[scottysize]

Wifey and I are right in the middle of middle class. Our income increases by the 3% that they are saying in the public conferences.

What happens in 2026? Why would my income go down then?