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stinger
LIF Adult
Member since 11/11 4971 total posts
Name:
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Tax changes
Not posting in politics because im just trying to figure out the facts for myself specifically for income taxes. I use turbo tax and dont have an accountant. I rely on a refund to pay for summer camp.
I just saw something on the news and couldn't follow the facts of what we need to know.
So what do i need to know? Im a single mom and do not make over 100k!!! I live in queens and property tax is in my co-op mortgage/fees
Is anything major changing for when i file early in 2018?
Message edited 12/27/2017 11:27:01 AM.
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Posted 12/27/17 11:22 AM  |
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Long Island's Largest Bridal Resource |
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Tax changes
You will probably do better since the standard deduction is doubling. Your queens coop is likely not going to generate enough deductions to negate itemizing vs. the new standard deduction.
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| Posted 12/27/17 11:28 AM |
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Blazesyth
*yawn*
Member since 5/05 8129 total posts
Name:
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Tax changes
When you are filing in 2018 you are filing for your prior year (2017) taxes. 2017 taxes are not changed with the bill that was just signed, it is only effective 2018 and after.
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| Posted 12/27/17 11:43 AM |
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stinger
LIF Adult
Member since 11/11 4971 total posts
Name:
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Re: Tax changes
I just happened to get an email from TT telling me not to worry they have it covered lol
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| Posted 12/27/17 3:50 PM |
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Eunyboo
<3
Member since 7/12 4376 total posts
Name:
E
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Re: Tax changes
You can plug your stuff into this to see what the changes might mean for you.
https://www.calcxml.com/calculators/trump-tax-reform-calculator
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| Posted 12/27/17 4:20 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Tax changes
Everything is so personal that no one should really give you advice to rely upon.
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| Posted 12/27/17 5:13 PM |
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blu6385
Member since 5/08 8351 total posts
Name:
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Re: Tax changes
I like you rely on my refund to pay for summer camp (yes I know I am giving the government a free loan).
This year filing you will not be affected. I am worried about 2018 filing and plan on contacting my accountant in the next few days to see what needs to be done if anything.
Like another poster said its so different for each person that you really can't rely on what others say. I think you might be better of maybe contacting an accountant or see if there is one available through turbo tax
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| Posted 12/28/17 9:19 AM |
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