Quote:
Originally Posted by fintstone
Beats me...if you are talking about Fed taxes (not state). Looks to me like it would be hard to actually pay more on the same income:
 |
fint, you can't look solely at the rates, which were absolutely lower. The other piece of the equation is that deductions have been limited...particularly deductions for taxes paid (state income taxes and property taxes). So while the rates are lower, and your gross income can be same as previous years, your
taxable income may be higher. those of us in the highest tax states like NY/NJ (where its "normal" to pay 20k in property taxes per year) are all going to pay more under the new law, even if our income is static.