I guess we'll just have to wait and see - exactly who will and who Posted: Dec 14th, 2017 - 8:53 am In Reply to: IRS confirms lower taxes and bigger paychecks. - LoveMyPresident
won't get the advantages. They're still cutting the mandate on the healthcare that will affect everybody's insurance rates even more than now. I do see Trump and the big earners will definitely make out. I see they are allowing state and local deductions but only up to $10,000 combined with real estate taxes and mortgage interest so that will hurt me and many others. I haven't seen if they've changed it but home business deductions go away last I saw. It's not all about your paycheck; it's about the whole year and filing those taxes and what deductions you lose too.
Reducing withholding doesn't always mean something good. I have had to have them take out extra to keep from paying more at the end of the year.
It's all yet to be determined.
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