GOP TAX PLAN

[PaulS]

Originally Posted by DZ

Jury is still out on this. I have at least $500-700 (what I pay my accountant) of potential savings if I can file a return the size of a postcard myself. That said I live in a high tax state and RI will stand to lose some tax revenue - look for them and other blue states to tax the crap out of their residents with state taxes to make up the loss. But I guess its only fair as from what I read the northeast is heavily subsidized by other states. I think our beef will really be with our state legislators if this tax plan goes into effect. Time to cut state spending.

You must have a complicated return. I have partnerships, real estate, div, interest, cap. gains and I do my own.

Where have you read that the NE is subsidized by other states? Do you have any links to articles? I've read many times that the NE states pay more to the feds than they get back.

[Got Stripers]

I'm so glad I'm retired and taxes are not my big worry, but I see it as the rich getting richer.

[DZ]

Originally Posted by PaulS

You must have a complicated return. I have partnerships, real estate, div, interest, cap. gains and I do my own.

Where have you read that the NE is subsidized by other states? Do you have any links to articles? I've read many times that the NE states pay more to the feds than they get back.

Paul,
My taxes are indeed complicated - use to do my own but not anymore. Here is a link to an article that explains both sides of SALT (state and local tax deduction) and how it fits into the plan.
https://www.vox.com/policy-and-polit...tion-explained