Cuomo’s claim not the case for most NY taxpayers

[Deplorable Me]

Cuomo overstates tax law's impact

If anything Trump's revision of the IRS code increased the taxes on persons with more expensive and multiple houses. The average working Joe like me saw a tax benefit according to my tax guy (as modeled in our taxes.) So the rich and productive paid a little more, isn't that what the libtards wanted anyways?

Old fear mongering bias crap for brains Andy lying again.

 

[Blimey]

"Fifty-two counties have average taxes of above the SALT $10,000 cap," Cuomo said at his March news conference. "Fifty-two counties will see a tax increase."

Not how it works, of course.

A person could lose some salt deduction and make up for it substantially elsewhere.

Overall this law did result in a tax deduction for most people.

 

[Kwalsh]

I don’t know what he was talking about, the wife and I had the best return ever this year, granted we are always very aggressive with our deductions so we have a cushion

 

[kev74]

Funny... It seems like whenever Monkeyface says something, its wrong.

 

[Grimscale]

The common thread I've heard for people who have ended up paying taxes this year is that they did not adjust their withholding when the tax brackets changed.

People need to stay on top of things like that. Check it every year to make sure nothing is different (my work has somehow changed mine a couple times without me knowing).

 

[dsdmmat]

The common thread I've heard for people who have ended up paying taxes this year is that they did not adjust their withholding when the tax brackets changed.

People need to stay on top of things like that. Check it every year to make sure nothing is different (my work has somehow changed mine a couple times without me knowing).

I paid in this year. I pay in every year. This year I paid in less than normal though.

 

[gun_slinger_boy]

Not how it works, of course.

A person could lose some salt deduction and make up for it substantially elsewhere.

Overall this law did result in a tax deduction for most people.

Alot of people gained salt this year because they're salty AF. I actually got a substantial return from both state and fed for the first time in about 13 years instead of owing.

 

[OwnTheRide]

Everyone is focused on returns, but it's the tax paid as a percentage of your income that really matters. To calculate this, divide your total tax by your adjusted gross income and multiply by 100.

Total tax can be found on form 1040, line 63 in 2017 and line 15 in 2018.

Adjusted gross income can be found on form 1040, line 37 in 2017 and line 7 in 2018.

In my case, I went from 15.21% in 2017 to 12.71% in 2018.

 

[Gonzobird]

My taxes fall well below the SALT limit. I had a good return and was able to deduct my property and school taxes. FUAC is really wrong here and should do some more research. 52 counties? I highly doubt that.

 

[1911guy]

I don’t know what he was talking about, the wife and I had the best return ever this year, granted we are always very aggressive with our deductions so we have a cushion

That's ok. Andy doesn't know either.