All Hokie, All the Time. Period.

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vt90

Joined: 12/12/98 Posts: 37853
Likes: 11963


It is fairly simple math - most (almost all) will have a lower total tax


amount than before the new tax law. Very few will pay more in taxes than in previous years and those will be the folks who live in high tax states that took huge deductions for mortgage interests and state/local taxes. The very wealthy will also pay more for the same reasons.

The reason people are surprised right now is because the government wanted people to see an immediate 'bump' (probably for political purposes) in their paychecks so the withholding amounts were adjusted last year. So everyone got a bit more in their paychecks and now, even though they will pay less overall, the April 15th reality may give them less of a refund than they were used to.

But for 80% or more of Americans, the percentage of taxes that you pay to the IRS for 2018 will be less than previous years.

(In response to this post by VTSnake)

Posted: 02/12/2019 at 1:25PM



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Current Thread:
 
  
CPA: What % of your clients are actually paying more? -- VaAkita 02/12/2019 12:10PM
  Yes 80 percent paid less in taxes -- capitals1 02/12/2019 1:12PM
  Not true ** -- 133743Hokie 02/12/2019 3:15PM
  Individual cuts expire at the end of 2025 ** -- hucareshokiesrul 02/12/2019 1:41PM
  I have a few guesses where he heard it. ** -- hokie80 02/12/2019 1:31PM
  Thanks for the narrative. ** -- hokie80 02/12/2019 1:28PM
  So I was off by a couple years. -- VTSnake 02/12/2019 2:07PM
  Oh. The. Irony. ** -- hokie80 02/12/2019 2:13PM
  What is my ilk? -- hokie80 02/12/2019 2:43PM
  He's a troll. ** -- vtbones 02/12/2019 2:24PM
  Nope. I just call out a political narrative.. -- hokie80 02/12/2019 2:39PM
  Why shouldn't the working stuff have known this? -- hokie80 02/12/2019 1:15PM
  You are correct, Roth is post tax. ** -- EDGEMAN 02/12/2019 2:32PM
  I'll let you know Feb. 27 ** -- WestyHokie 02/12/2019 1:31PM
  Psssst...they are post-tax. ** -- hokie80 02/12/2019 1:34PM
  He meant Feb 27 2020 ** -- Hokie360 02/12/2019 2:58PM
  People are stupid and only live in the moment. -- hokie80 02/12/2019 12:32PM
  Lol ** -- CPRVHokie 02/12/2019 3:36PM
  Content and context aren't your forte' -- hokie80 02/12/2019 1:30PM
  Ok ** -- CPRVHokie 02/12/2019 1:38PM
  He is so predictable and therefore fun to mess with! :) ** -- grill to chill 02/12/2019 1:08PM
  It's fun to point to point the obvious fly boy :) ** -- grill to chill 02/12/2019 3:38PM
  You don't sound snarky. -- MP4VT2004 02/13/2019 12:50AM
  I understand your premise -- RTFC 02/13/2019 10:19AM
  That's not how I understood it -- RTFC 02/12/2019 4:26PM
  Sorry, I didn't explain it very well. -- MP4VT2004 02/13/2019 12:57AM
  Media spinning it ** -- DaveVT 02/12/2019 12:36PM

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