But you should pay more. You obviously won life's lottery and are likely privledged whitey. The fact your wife works hard to maintain her skills is irrelevant as the high school drop off is entitled to some of her earnings
Congratulations! Not having to pay interest is big advantage, completely overshadows any tax advantage. Doing things to swing a tax deduction is pure stupidity.
This. It amazes e how many people think it is better to have the mortgage deduction than pay a bit more tax and not pay all of that interest...
Never understood work/clothing deductions like that and glad they're gone. We all have to buy work clothes and pay for training unless it's paid for by work, I see no need for it to have anything to do with taxes. Boss was talking to a nurse a while back. Single mom of 3, going to lose the EIC that got her back everything she paid in taxes if not more depending on the year. Oddly she thinks the overall revamp is great even if it hurts her directly. She like me never could understand how having kids could get you more in a refund than you paid in...
Without going into details one of the owners of our house is now of an age where we no longer have to pay the school portion of our property taxes. What we save might cover half my health insurance next year
So you don't deduct business expenses, same thing isn't it? Are you required to spend X number of hours and pay for continuing education every year to be able to run a race?
The business deducts what it can, I personally do not deduct any business expenses including those I could as we have a LOT of unreimbursed business expenses. I probably should but I don't. I have no problem with people taking the deductions the law allows but I'd be happier with all of the deductions gone and we just pay taxes with no extra bullshit on filing them every year. What do the licensing requirements of your chosen profession have to do with taxes? I've never understood that kind of justification. Not being an asshole or anything, I truly do not get why those should be any sort of deduction. Also don't get why being married changes anything or why kids matter in the least to income tax.
Tax breaks for children makes sense because that's where you get future taxpayers. If we're going to 100% support the children of people who pay no taxes at all, I think we can make some allowance for the expense of raising children who will probably grow up to be responsible taxpayers themselves. The EIC is debatable, but if you're working I think that should be encouraged. I'd rather see more breaks for working families.
Working families, so anyone with a job? Or are you thinking lower income people many of whom already pay no taxes. Yep let’s get above 50% who don’t pay so the majority thinks gov is a sugar daddy without putting out.
I'm with most of you guys... do away with al deductions. I've run my own business ans have 4 kids. Just give me a solid percentage based off my income or profit if a business that I must pay.
I don't think anyone should get more than they paid in. If they have deductions or whatever, fine, but giving people back more than they actually paid in seems like some communist or socialist scheme.
My "crumbs" as Pelosi would say is $632.04 per year. Thank you Mr. President. I suppose what Nancy means is that it isn't enough.
Yeah it's a bit ironic that my "crumbs" per household are around 2,500 annual and we were told this was going to be "Armageddon" with a "15,000 annual bodycount." A few years ago, I was told that I would save 2,500/year and it was going to be great because of commie medicine. Silly, stupid, lying Democrats.