Six Charts That Help Explain the Republican Tax Plan

[Surewhitey]

So I saw an article (not the link below) that took a poll of peeps that asked how the proposed tax plan would affect them. I didn't really like the generalizations they made and thought "how can they know if most people don't do their own taxes" (not to mention the math skills of the country).

This made me open up last years tax paperwork to get a ball park of what it will likely do to our personal situation. It really wasn't difficult as we take the standard deduction and know a general amount of taxable income to account for.

It seems that we fall in a sweet spot and can "manage" this to stay just below the $90k mark (12% threshold). It seems that my "benefit" would be +$2k based on my situation and taking the new $24k standard deduction as I do not have enough to itemize.

I know that most $$ will go to the biz & rich, but I just was curious of our personal gain. Anyone else do this exercise? Your findings / gut feelings for your personal situation is what I'm curious of.

https://www.nytimes.com/interactive...harts-to-explain-the-republican-tax-plan.html

 

[MichaelB]

After discussion the moderator team has decided that there should be no more threads on tax bills until something has passed both chambers and is in reconciliation.