Author Topic: Trump-Republican tax plan, Bad for large families  (Read 138452 times)

Offline Deal Guy

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Re: Trump-Republican tax plan bad for large families
« Reply #280 on: December 01, 2017, 02:28:26 PM »
Is there a chance that they pass the Rubio-Lee amendment regarding the child tax credit?

Offline ExGingi

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I've been waiting over 5 years with bated breath for someone to say that!
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Offline EJB

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Re: Trump-Republican tax plan bad for large families
« Reply #282 on: December 02, 2017, 07:52:00 PM »
Is there a chance that they pass the Rubio-Lee amendment regarding the child tax credit?
No

Offline ChaimMoskowitz

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Re: Trump-Republican tax plan bad for large families
« Reply #283 on: December 02, 2017, 07:53:27 PM »
If/when it gets done this month when will it take affect?
I just found a new supply of forks!

Offline aro123

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Re: Trump-Republican tax plan bad for large families
« Reply #284 on: December 02, 2017, 08:15:53 PM »
but they did add that 529 accounts can be used for school tuition.

Offline ChaimMoskowitz

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Re: Trump-Republican tax plan bad for large families
« Reply #285 on: December 02, 2017, 08:18:41 PM »
but they did add that 529 accounts can be used for school tuition.
Can I fund them with a CC?
I just found a new supply of forks!

Offline Deal Guy

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Re: Trump-Republican tax plan bad for large families
« Reply #286 on: December 02, 2017, 08:29:10 PM »
Can I fund them with a CC?
Can you fund mine? :)

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Re: Trump-Republican tax plan bad for large families
« Reply #287 on: December 02, 2017, 08:35:10 PM »
And good calculator online that lets you compare your taxes going forward to the old plan?
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Offline ChaimMoskowitz

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Re: Trump-Republican tax plan bad for large families
« Reply #288 on: December 02, 2017, 08:37:04 PM »
And good calculator online that lets you compare your taxes going forward to the old plan?
Not that I found. Since I no longer itemize it is pretty easy for me.
I just found a new supply of forks!

Offline CPA

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Re: Trump-Republican tax plan bad for large families
« Reply #289 on: December 02, 2017, 08:41:06 PM »
The deduction for religious school tuition was in the final version of the Senate bill and manually crossed out.  >:(
 

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Re: Trump-Republican tax plan bad for large families - or is it?
« Reply #290 on: December 02, 2017, 09:25:47 PM »
The Senate version with the 2k per child tax credit may end up being good for large families

Offline ExGingi

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Re: Trump-Republican tax plan bad for large families - or is it?
« Reply #291 on: December 02, 2017, 09:33:22 PM »
The Senate version with the 2k per child tax credit may end up being good for large families
Fully refundable?
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Re: Trump-Republican tax plan bad for large families
« Reply #292 on: December 02, 2017, 09:35:15 PM »
Any easy guidelines or calculators as to whether I should take extra income in 2017 or leave it for January?
I've been waiting over 5 years with bated breath for someone to say that!
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Offline Dan

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Re: Trump-Republican tax plan bad for large families
« Reply #293 on: December 02, 2017, 09:36:12 PM »
You don't think they will backdate this to 1/1/17?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline yitzf

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Re: Trump-Republican tax plan bad for large families
« Reply #294 on: December 02, 2017, 09:37:14 PM »
You don't think they will backdate this to 1/1/17?

No, it's all for 2018

Offline EJB

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Re: Trump-Republican tax plan bad for large families
« Reply #295 on: December 02, 2017, 09:38:05 PM »
Can I prepay property tax or state income tax?

Offline aygart

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Re: Trump-Republican tax plan bad for large families
« Reply #296 on: December 02, 2017, 09:39:17 PM »
Can I prepay property tax or state income tax?
Usually. Just make an estimated tax payment.
Feelings don't care about your facts

Offline yitzf

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Re: Trump-Republican tax plan bad for large families
« Reply #297 on: December 02, 2017, 09:39:56 PM »
Can I prepay property tax or state income tax?

If your state/city lets you then it should be deductible this year.

Offline CPA

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Re: Trump-Republican tax plan bad for large families
« Reply #298 on: December 02, 2017, 09:41:29 PM »
Can I prepay property tax or state income tax?
If you take the deduction on Schedule A and there is an overpayment of State income tax it will taxable the following year

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Re: Trump-Republican tax plan bad for large families - or is it?
« Reply #299 on: December 02, 2017, 09:44:29 PM »
Fully refundable?
No, but  it helps those who do pay tax