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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
Yes, I can see that, and you mentioned it elsewhere. That Trump change hit a lot of people in expensive ZIP codes!
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?
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).
Over what?
Do you have specific Biden era tax changes? I guess the later pandemic payments qualify.
Cap on state/local income and property tax deductions at $10k was biggest hit. We pay out nearly double that annually.
Yes, I can see that, and you mentioned it elsewhere. That Trump change hit a lot of people in expensive ZIP codes!
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.
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?
Not a cent in stimulus payments during pandemic.
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).
You name it .. I'm getting fucked by the U.S. tax code over it.
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.