Quote:
Originally Posted by bimmer456
So that trump payroll tax cut that comes in February will be offset by not being able to deduct state and local taxes from federal taxes. It's just exchanging one tax for another, a tax cut in name only. Increasing the standard deduction is yet another fake tax cut, most people will be impacted by the $10K limit if you're in the middle class. Pre-payment is no guarantee and what about next year?
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People should analyze all pieces of the changes together, including AMT, based on their individual circumstances. Try to apply new rules to last year's return. Not difficult and gives you a good idea of impact.