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Stillwaiting · M
SomeMichGuy · M
@Stillwaiting Which changes would have affected you?
Stillwaiting · M
@SomeMichGuy Cap on state/local income and property tax deductions at $10k was biggest hit. We pay out nearly double that annually. Two kids in college with no financial aid and can't take deduction for a cent of it because income is just above complete cutoff. Not a cent in stimulus payments during pandemic. You name it .. I'm getting fucked by the U.S. tax code over it.
SomeMichGuy · M
@Stillwaiting
[quote]Cap on state/local income and property tax deductions at $10k was biggest hit. We pay out nearly double that annually.[/quote]
Yes, I can see that, and you mentioned it elsewhere. That Trump change hit a lot of people in expensive ZIP codes!
[quote]Two kids in college with no financial aid and can't take deduction for a cent of it because income is just above complete cutoff.[/quote]
According to this year's Form 8863, that would mean income >= $180,000. That's not a bad income, but a tsx code which would be more encouraging to going to college would probably be good.
Is this a Trump or Biden era change? Or just how things have been done?
[quote]Not a cent in stimulus payments during pandemic.[/quote]
Do you think the US should go into debt to help people at your income level? I make a bit less and did not need the stimulus (most of it went to charity).
[quote]You name it .. I'm getting fucked by the U.S. tax code over it.[/quote]
Over what?
Do you have specific Biden era tax changes? I guess the later pandemic payments qualify.
[quote]Cap on state/local income and property tax deductions at $10k was biggest hit. We pay out nearly double that annually.[/quote]
Yes, I can see that, and you mentioned it elsewhere. That Trump change hit a lot of people in expensive ZIP codes!
[quote]Two kids in college with no financial aid and can't take deduction for a cent of it because income is just above complete cutoff.[/quote]
According to this year's Form 8863, that would mean income >= $180,000. That's not a bad income, but a tsx code which would be more encouraging to going to college would probably be good.
Is this a Trump or Biden era change? Or just how things have been done?
[quote]Not a cent in stimulus payments during pandemic.[/quote]
Do you think the US should go into debt to help people at your income level? I make a bit less and did not need the stimulus (most of it went to charity).
[quote]You name it .. I'm getting fucked by the U.S. tax code over it.[/quote]
Over what?
Do you have specific Biden era tax changes? I guess the later pandemic payments qualify.
Stillwaiting · M
@SomeMichGuy Dont really have a problem not getting a stimulus check with our income .. but I have a lot of issue with my taxes going to pay stimulus for people who never missed a day of work and paying double normal unemployment benefits to people for many months.
That went on while posted jobs went unfilled and led to a lot of the supply chain issuds. That hurt the economy to have people sit on their @$$ and collect unemployment instead of getting back to work. Ridiculous economic policies.
That went on while posted jobs went unfilled and led to a lot of the supply chain issuds. That hurt the economy to have people sit on their @$$ and collect unemployment instead of getting back to work. Ridiculous economic policies.