Tax Cuts

Just 32 percent of Americans reported having more take-home pay due to the cuts, including just 35 percent of middle-class respondents and 48 percent of Trump supporters. More than half saw no change.

Oh, sweet Lord in heaven. This depends on how one’s withdrawals are set up. Those who see a salary increase now will get a smaller tax return next April. Those who are seeing no increase will get a larger lump return. Which is a great thing for them because a lump sum to spend registers more and can buy more than a smaller regular increase in the same amount.

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4 thoughts on “Tax Cuts”

  1. Huh??? If your tax liability is reduced, your withholding is automatically adjusted for the lower amount. If you don’t get an adjustment, it means your anticipated liability hasn’t changed. Unless you make a manual change to withholding (most people don’t), the adjustment to withholding is automatic.

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    1. The accountant at my place of employment is so dumb that I have to guide her through the simplest transactions in person and as if I’m talking to a toddler. It’s the same at my husband’s job. He had to almost literally wrestle his accountant from meddling in the process and readjusting witholdings in anticipation of the new tax code.

      Hey, my accountant called a hotel where I stayed and tried to get them to reveal my credit card number because I’d refused to disclose it to her. That’s the intellectual caliber of people we are talking about.

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      1. “My accountant called a hotel where I stayed and tried to get them to reveal my credit card number because I’d refused to disclose it to her.”

        Then why haven’t you told her to go to hell and found someone competent?? A good accountant is worth the cost.

        Some years ago I got back stateside from an overseas assignment in late March, and needed my taxes done quickly. (Being overseas in a hostile-fire zone had enabled me to file my taxes late without penalty in the previous years.)

        So I went to a local H.R. Block office, and while figuring out my taxes, the Block guy ASKED ME questions like, “Well, we can take this deduction using ‘Form ABC’ or ‘Form XYZ’ — which do you prefer?”

        The next year, I found a real CPA, and when I told him that H.R. Block had done my taxes the previous year, he suggested that I let him review the Block tax paperwork. He found a TWO THOUSAND dollar deduction that H.R. Block had missed, so we filed an amended tax return for the previous year, and the IRS sent me the money.

        I was so mad I went to the H.R. Block office and told them that they could refund me the fee I’d paid them for the faulty service, or I’d take them to court. They refunded the fee without any argument.

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        1. It’s the accountant who manages payroll at work. Of course, I think she should be fire immediately because this is the most rude, unprofessional and dumb person ever. But I’m not in control of that.

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