Trump Tax Cut

[Gene Howe]

Dave, I believe the bill was available on line before the vote. And, I'm sure the Washington Post published it in it's entirety in their 12/15 issue. It didn't need to be passed to know what was in it, like the ACA.

[dusty]

Dave, I believe the bill was available on line before the vote. And, I'm sure the Washington Post published it in it's entirety in their 12/15 issue. It didn't need to be passed to know what was in it, like the ACA.

Gene, can you point me to the new tax rate tables and a declaration of which deductions are still authorized. Mortgage interest and out-of-pocket medical expenses being of most significance to me.

The only gold I have is in my mouth and the only silver is in a couple rolls of Morgan City silver dollars. I do have some diamonds but my wife wears them, This should make my taxes pretty easy to prepare even if not easy to pay.

An additional question. How much of our social security income is taxable. In the past the taxable portion was about 1/2 of the gross. Under the new procedures, it seems to be totally taxable which counters at least some of the other reductions.

[davebodner]

The Tax Cuts and Jobs Act didn't pass until 12/19. Changes were being made until the day of passage. So, I don't think that could be true. This bill was handled completely outside the way bills normally advance--in marked contrast to the 1986 tax reform law. And I suggest none of us will really know how we're affected by the new law until we do our 2018 taxes. I actually suspect I'll come out ahead. But, I don't think our country should be borrowing money to pay for a tax cut for me. I guess I'm a conservative that way.

Don't make the mistake of falling for the lie that Nancy Pelosi didn't know what was in the ACA. Read her comment in context. In no way does she imply she, or the other members of Congress, didn't know what's in the bill. She was saying that the benefits of the bill won't be understood by the audience until the law is passed. https://www.snopes.com/pelosi-healthcar ... -is-in-it/

[jsburger]

John, it pains me to say so but you were absolutely correct. My deposits all hit the bank this morning and I am now nearly $50.00/mo richer than I expected to be. My Rockwell retirement pay increased even though the tax withholding did not change. Somewhat confused but financially better off.

I'll wait another pay cycle just to make certain that this is not the result of a one time correction. The $50 will just about pay for my new set of 3" casters.

I am really sorry I cause you pain Dusty. That has never been my intent.

[dusty]

John, I know that and the pain was slight and only momentary.

What still pains me are my expectations of the 2018 tax bill that I will have to pay. If my calculations are anywhere near accurate my 2018 tax bill will increase about $800 meaning that tax reform really did not lower my taxes at all. It just delayed them until the end-of-year filing. I'm about to adjust my withholding figures to compensate for that so that I do not have an out-of-pocket outlay at the end of the year.

[jsburger]

As some have said the VA is really trying hard to improve things. Not like in many government jobs where you really have to do something very bad and then have someone report it to get fired. Since David Shulkin has taken over as VA Director he is kicking butt and taking names. The VA has been given the authority to get rid of poor performers immediately with no long drawn out appeals process. Last year he fired effective immediately the DC area VA Director for incompetence. I just got this today from the VA news service. This is the lead in to the article.

"WASHINGTON - Today the U.S. Department of Veterans Affairs (VA) announced that the Director of the Roseburg VA Health Care System, Doug Paxton has stepped down and an interim replacement has being named. This is step aimed at improving care for Veterans served by Roseburg, which remains one of VA's 15 lowest performing facilities."

This is effective 4 Feb. You can read the entire article here.

https://www.va.gov/opa/pressrel/pressre ... fm?id=4003

The VA is really making exceptional strides to improve service in a short period of time. Shulkin is really trying to fix things.

[beeg]

The VA is really making exceptional strides to improve service in a short period of time. Shulkin is really trying to fix things.

About time.

[skou]

"Mr. Paxton has accepted reassignment as Assistant
Director at the Huntington VAMC in West Virginia."
(From the link John posted, above.)

John, if director Shulkin was REALLY trying to help,
Paxton's head would be on a pike! Instead, he got
ANOTHER chance to screw up Veterans' lives.

At least, he didn't get sent to Phoenix.

steve

[jsburger]

"Mr. Paxton has accepted reassignment as Assistant
Director at the Huntington VAMC in West Virginia."
(From the link John posted, above.)

John, if director Shulkin was REALLY trying to help,
Paxton's head would be on a pike! Instead, he got
ANOTHER chance to screw up Veterans' lives.

At least, he didn't get sent to Phoenix.

steve

OK, Steve believe what you want. Maybe his transgressions were not bad enough to get fired like the DC director. He took a demotion and is not in charge anymore.

Here is a link to an article that says the VA is targeting it's worst performers first for fixes. There are 15 VA Medical Centers on the list. DC is on the list and the director was fired. Roseburg, OR is on there and that is where Paxton was removed from. He didn't get sent to Phoenix because Phoenix is also on the list so maybe it will be next.

https://www.va.gov/opa/pressrel/pressre ... fm?id=4004

[dusty]

This thread started as a discussion on the Trump Tax Plan and has morphed into a VA discussion but that is OKAY.

Now I am going back to the Tax Reform Bill of 2018.

I have just finished my tax returns and while I had all of the files loaded up into the computer I transferred the real numbers for 2017 into the worksheet that I have created for 2018. If my calculations and assumptions (based on the media) are all correct I will get a pleasant surprise in February 2018. I will owe the government a part of a $20.00 bill. I just wrote a check for $830 to pay the 2017 taxes.

The delta can all be contributed to tax bill changes. I have made no changes to my deductions. All changes that have occurred are the result of the COLA, Tax Reform and Medicare Reform.

I hope that everyone experiences the same sort of changes.

John, I say again - you were right all along.