• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Will the Tax Bills Cost or Save You Money?

For me:

2017: Based upon the information you provided, it appears that your estimated federal income tax liability will be approximately $12,832. Your effective tax rate is 13.9% and your marginal tax rate is 25.0%.

2018: Based upon the information you provided, it appears that your estimated federal income tax liability will be approximately $9,605. Your effective tax rate is 10.4% and your marginal tax rate is 22.0%.

This tax plan will reduce my taxes by 25% to the tune of about $3000 per year. For me, that's significant. That is almost a month of bills, a new fence, a vacation, or (if the market continues the way it has) about $1000 in unearned income if put in an index fund for a year.

*50 year old single male homeowner with no kids working full-time with no major medical expenses/maintenance living in Texas.

Trump Tax Reform Calculator
Current Tax Bill Calculator
 
You must log in or register to reply here.
Back
Top Bottom