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The big change for me was now I can't deduct one cent of my home office for my business. And I "get" to pay taxes on the investments I have in the stock market. Every time a stock was sold and there was a profit to reinvest, I have to pay income on that, and not one penny was ever disbursed to me, 100% of it was re-invested. It was all "just paper" and nothing I can spend, yet since I am the "rich middle class" I get to pay more taxes.
I don't have a paycheck at all. As a business owner I just take a draw on the company and pay estimated quarterly taxes.
I think the new tax laws were just the CPA full employment act with a different name.
In the end, I suspect my taxes will remain roughly the same, but I will be forced to pay my CPA a grand or more to sort through the company books and figure out my exact taxes.
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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