Has anyone noticed the impact of the new income tax laws?
Yeah, I wondered about that. More on your check, but less on your income tax return. I don't think it affects me as I only get Social Security.Yes, ours were bigger. I don' trust it and am filling out a new form to have some extra taken out.
ACA kills me. I pay $766 a month for one person and there are almost no doctors near me that take it, certainly no specialists. The deductible is $5000, so it isn't likely I'll be reaching that.not sure what you consider middle class , I believe the median household income in the united states is $55,000-60,000 ...... the standard deduction has been doubled for a family to $24,000 , a middle class person can deduct 1/2 their income ? the child credit is doubled to $1600 , the earned income credit was left intact ? I run a small business , this tax change didn't screw anyone I know of ? what screwed them , and everyone who pays for their own insurance , was aca ........... it sure outwardly appears to be aimed at the middle class I know .....
We did better this year too, even though we are in California. We never had enough to itemize before, usually, because we don't have a mortgage, so it was great getting the larger standard deduction. Not to mention, it was so much easier not having to add up all the possible deductions to see if we had enough to itemize.did my taxes today , the first full look at the new tax law , at least as it pertains to me ……. I paid $2200 less in federal taxes over the year as opposed to last year …….. my state and federal returns amounted to $400 more than I got last year …… so I got an additional $217 a month more than I did last year …….