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Trump's TAX PLAN: 12%, 25%, 33% - How...

Chalanachithram.com DB » New TF Industry Related » Archive through December 12, 2016 » Trump's TAX PLAN: 12%, 25%, 33% - How it affects you « Previous Next »
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Chiru_fan
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Posted on Saturday, December 10, 2016 - 08:24 pm:       

/Siloan/

Annai, mee paatha davilog....."greecu siddham saayaraa"!!
CHIRU - SACHIN - FEDERER
 

Siloan
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Posted on Saturday, December 10, 2016 - 08:09 pm:       


Jai_ycp:

I hope they continue it for next 10'years



yeru daateestaava appatiki
 

Andhravodu
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Posted on Saturday, December 10, 2016 - 11:45 am:       


Ntr_rocks:


turbotax lo check cheyi, automatic ga telustundi

400k house, 30years payment unte, interest oka 18-20k untundi first year, more than standard deduction. Property taxes oka 3-5k cross avutundi

ade house value 250k, 15years payment unte your standard deduction will be higher. govt indirect ga force chestundi, to buy higher rate houses
 

Ntr_rocks
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Posted on Saturday, December 10, 2016 - 11:36 am:       


Andhravodu:


Ok, inka pay seyaledu, ee year 1st time...so dani gurunchi teliyadu...THanks
 

Andhravodu
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Posted on Saturday, December 10, 2016 - 11:33 am:       


Ntr_rocks:

Enti edi, explain more plz



The amount you pay for Property taxes and Interest only portion of mortgage payment is deductible from your federal tax rate

Itemized returns submit cheyali, not allowed in standard deduction mode
 

Bithiri_bathi
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Posted on Saturday, December 10, 2016 - 11:32 am:       


Andhravodu:

3500 savings for your family, 14k for 4 years



Not bad ...
 

Andhravodu
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Posted on Saturday, December 10, 2016 - 11:26 am:       


Bithiri_bathi:


vunkle, you complained yesteday that your tax rate in present scenario is 33% and in Trump's plan it's the same 33%

let's say your joint income is 280k after standard deduction

In the article chart, Present rate: 0-18.5k @ 10%, 18.5-75k @ 15%, 75-152k @ 25%, 151-231k @ 28%, 231-280k @ 33%

breakdown cheste, 1850, 8.5k, 19.25k, 22.4k and finally 16.17k so, just over 68k in federal tax kadatavu

Trump standard deduction ekkuva untadi antunnaru. But let's start same 280k

new tax rate: 0-75k @ 12%, 75-225k @ 25%, 225-280 @ 33%

9000 + 37500 + 18150 = 64600 avutundi

3500 savings for your family, 14k for 4 years
 

Ntr_rocks
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Posted on Saturday, December 10, 2016 - 11:22 am:       


Jai_ycp:



Home mortgage deduction is set to expire some time soon


Enti edi, explain more plz
 

Bithiri_bathi
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Posted on Saturday, December 10, 2016 - 10:52 am:       


Andhravodu:

bittiri bathi and other high incomes benefit avutaru, current tax rate 33% antunnaru but they will have big gains in 151-22k bracket, 74*4 = 3k taggutundi




Annai konchem explain cheyyara....ardham kaaledhu savings aithey unnayi antunnaru adhi chaalu
 

Bithiri_bathi
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Posted on Saturday, December 10, 2016 - 10:49 am:       

Why only for next ten years?
 

Jai_ycp
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Posted on Saturday, December 10, 2016 - 10:19 am:       


Andhravodu:




Home mortgage deduction is set to expire some time soon. I hope they continue it for next 10'years
the story of YCP and TDP in 2014 (AP)- http://goo.gl/zgrYmQ
http://goo.gl/gn6XL5
the story of TDP in 2014 (T) - http://goo.gl/nyu1Wu
 

Jai_ycp
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Posted on Saturday, December 10, 2016 - 10:11 am:       


Andhravodu:




I agree. We have to see the final bill to identify the savings. More than savings I am worried about future increase of tax with bush tax cuts gone.
the story of YCP and TDP in 2014 (AP)- http://goo.gl/zgrYmQ
http://goo.gl/gn6XL5
the story of TDP in 2014 (T) - http://goo.gl/nyu1Wu
 

Jai_ycp
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Posted on Saturday, December 10, 2016 - 10:09 am:       


Politricks:




Brackets are merged hence some in the bracket are not getting advantage. It working towards common goal of equal tax for all citizens
the story of YCP and TDP in 2014 (AP)- http://goo.gl/zgrYmQ
http://goo.gl/gn6XL5
the story of TDP in 2014 (T) - http://goo.gl/nyu1Wu
 

Andhravodu
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Posted on Saturday, December 10, 2016 - 10:06 am:       


Politricks:

WORST is for that 75-151K band...


kinda oka post esa marginal taxation ani. same system continue avuddi anukuntunna

MT continue aite, 75-151k will get the benefit in 15-75k. Of course, 200K guy will get benefit in 15-75k and 151-200k. The point is to apply tax rates as per. mari 400k and above aite taggutundi ante, raw numbers lo anta earn chese vallu maybe oka 10k people untaremo whole country lo
 

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Posted on Saturday, December 10, 2016 - 10:05 am:       


Politricks:




There is justification for your angust that joint filers making between 75-100k are not getting any benefit. If dems won it would be 28 or 31 once bush taxes expire. You have saved 3% if making less than 109 or 6% if making more than 109k.


Stellar:




Compare tax rates with before bush taxes. Whatever your tax brackets are temporary. Obama did not reform tax codes one of his poll promise
the story of YCP and TDP in 2014 (AP)- http://goo.gl/zgrYmQ
http://goo.gl/gn6XL5
the story of TDP in 2014 (T) - http://goo.gl/nyu1Wu
 

Politricks
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Posted on Saturday, December 10, 2016 - 10:02 am:       

Andhravodu

WORST is for that 75-151K band...asala valla ki tax benefit ivvakunda 151K-225K valla ki ivvatam lo logic yenti? Oka 100K and filing jointly vaadu richer than oka 200K filing jointly vaada?
 

Politricks
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Posted on Saturday, December 10, 2016 - 09:59 am:       


Andhravodu:

18.5 nunchi 75k varaku 15% nunchi 12% change avutundi. 3% difference there. Majority ki huge benefit




37,650-91,150 and Single filer ki 25% undedi and 25% ye untondi ani undi kada akkada? Most Americans Blue Collered will be in that band right? YES, joint filing and 18-75K band ki help avuthondi!
 

Andhravodu
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Posted on Saturday, December 10, 2016 - 09:51 am:       


Politricks:

most Americans in those rust belts even single filers may be in that 37-91K range and valla ki kuda NO benefit


18.5 nunchi 75k varaku 15% nunchi 12% change avutundi. 3% difference there. Majority ki huge benefit
 

Stellar
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Posted on Saturday, December 10, 2016 - 09:48 am:       


Politricks:

Asala mana gurinchi ane kaadu most Americans in those rust belts even single filers may be in that 37-91K range and valla ki kuda NO benefit! RICHER and RICH ki help anthe ee tax changes!




tax benefits ani cheppi reps chesedi melu vallake.
 

Andhravodu
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Posted on Saturday, December 10, 2016 - 09:48 am:       


Stellar:

ippudu mandatory teesesara?


egspecting teesestaru ane

kakapote, daniki inko kottudu anta. Premiums will be sold across state lines, but if you have coverage gap, insurers can raise rates next time. Exactly similar to Auto Insurance
 

Time_waste
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Posted on Saturday, December 10, 2016 - 09:47 am:       

health care pre tax aaa...nijamaa? dhenemma monthly 900 after tax dobbalekapothunna...
 

Politricks
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Posted on Saturday, December 10, 2016 - 09:46 am:       

Asala mana gurinchi ane kaadu most Americans in those rust belts even single filers may be in that 37-91K range and valla ki kuda NO benefit! RICHER and RICH ki help anthe ee tax changes!
 

Andhravodu
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Posted on Saturday, December 10, 2016 - 09:44 am:       


Jai_ycp:

3% will look small. But assuming you have 150k I.e. 4500 per year. For 4 years it will be 18k


deeni gurinchi konchem alochinchanu. If marginal taxation continues maree 18k benefit undadu

Ex: double income getting 180k

current runs under marginal tax of 28% after 151k, adi 25% cheste not saving 3% on 180k, but 29k, so 870$ benefit. 870*4 ~3500 for 4 years

I think it will be like that. so bittiri bathi and other high incomes benefit avutaru, current tax rate 33% antunnaru but they will have big gains in 151-22k bracket, 74*4 = 3k taggutundi appudu

If marginal tax rate is gone, then different case of course
 

Stellar
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Posted on Saturday, December 10, 2016 - 09:42 am:       


Andhravodu:

ila kadu mandatory healthcare ani dabbulu dobbite great president




ippudu mandatory teesesara?
 

Politricks
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Posted on Saturday, December 10, 2016 - 09:38 am:       


Andhravodu:




What do you mean by single filers? Married undi okkare job chesthunna IT kind of folks chala mandi ee 75-151K lo untaaru and as they are married had to file JOINT right?
 

Twotown
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Posted on Saturday, December 10, 2016 - 09:37 am:       


Ntr_rocks:



Knowledge jaining ehe ...joint income less than 120 ikkadaa :-(
Muppai ,muppiayidu billing
 

Politricks
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Posted on Saturday, December 10, 2016 - 09:36 am:       


Twotown:




Yenti majority kosam yesedi?

1) 75-150K income unde families highest untaayi USA lo! Forget us IT people most American Blue Colored will be earning in this band (Iddaru work chesthunna as their pay scale less will come in this band)...so ilanti vallaki NO USE!

2) Asians who are double earners and IT kinda jobs benefit out of it as most come into 151-225K band!

3) And ofcourse aa HIGH income valla ki yenduku ala TAX taggisthunnaru? Any logic bringing down from 35-40% to 33%?
 

Twotown
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Posted on Saturday, December 10, 2016 - 09:35 am:       


Andhravodu:

big benefit ikkada. 151-225k 28% nunchi 25% ki paduddi



Super edi choopisthe sari ..remaining back door lo set chesi ..thanksesss
 

Ntr_rocks
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Posted on Saturday, December 10, 2016 - 09:35 am:       


Twotown:


Vunkle 200 to 300k w2 married joint ki ela vundhi ...
150-200k ela vundi married joint ?


 

Andhravodu
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Posted on Saturday, December 10, 2016 - 09:33 am:       


Twotown:

200 to 300k w2 married joint ki ela vundhi ...


double income 225-413k will be 33%. 225-231 current band vachi 28, allu 5% ekkuva kattali. 231k nunchi already unnade continue avuddi


Twotown:

150-200k ela vundi married joint ?


big benefit ikkada. 151-225k 28% nunchi 25% ki paduddi
 

Idiot1
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Posted on Saturday, December 10, 2016 - 09:31 am:       


Jai_ycp:


150k middle class aa
 

Twotown
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Posted on Saturday, December 10, 2016 - 09:30 am:       


Andhravodu:



Vunkle 200 to 300k w2 married joint ki ela vundhi ...
150-200k ela vundi married joint ?
 

Andhravodu
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Posted on Saturday, December 10, 2016 - 09:28 am:       

-- most indians 75-150 bochu kooda migaladu, veedi batuku cheda LK ball gadu

single filers 90-150k band 3% tax cut ani clear ga undi

ila kadu mandatory healthcare ani dabbulu dobbite great president

aadi batuku cheda LK ball gadu
 

Twotown
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Posted on Saturday, December 10, 2016 - 09:23 am:       

Taxes mana kosam veyyaru majority kosam ..
So pls schools close ..
 

Politricks
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Posted on Saturday, December 10, 2016 - 09:19 am:       

Most INDIANS who are Single Earners and in IT/Pharma will be in that 75-150K band and bochhu kuda benefit ledu...veedi bathuku chedaa....LK ball gaadu!
 

Gringo
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Posted on Saturday, December 10, 2016 - 09:18 am:       


Wellsfargo:

Link please.


http://ww2.cfo.com/tax/2016/11/trumps-corporate-tax-reforms- cfos-need-know/

Trump said he will extend the 15% tax cut to LLC's as well.
 

Wellsfargo
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Posted on Saturday, December 10, 2016 - 09:10 am:       


Jai_ycp:

Business tax is going to be 15%. That includes C corps




Link please.
 

Jai_ycp
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Posted on Saturday, December 10, 2016 - 08:52 am:       


Wellsfargo:




Business tax is going to be 15%. That includes C corps
the story of YCP and TDP in 2014 (AP)- http://goo.gl/zgrYmQ
http://goo.gl/gn6XL5
the story of TDP in 2014 (T) - http://goo.gl/nyu1Wu
 

Wellsfargo
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Posted on Saturday, December 10, 2016 - 08:49 am:       


Jai_ycp:

3% change for joint fliers whose income is great than 150k.
3% change for single fliers whose income is greater than 90k.
Not only these but increase in standard deduction, cap on itemized deductions, eliminating AMT
Most of all current tax brackets are continuation of bush tax cuts which will expire shortly. Hillary would have let them expire and taxes would rise. She or any dem would say we did not raise taxes which is theoretically correct but practically BS

Let's look at pre bush taxes I.e. 2000. For sample people making joint filing of 43-105 k will pay 28% and from 105-161 31%. For single filers, you will pay 31% if you make 63-130.

Dems will come back and say we had surplus budget. Duuuuuuh. You robbed from us so what the heck.
http://taxfoundation.org/sites/taxfoundation.org/files/docs/ fed_individual_rate_history_recentyears-20100923.xls




c corps ki emaina tagginchara?
 

Jai_ycp
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Posted on Saturday, December 10, 2016 - 08:48 am:       

3% will look small. But assuming you have 150k I.e. 4500 per year. For 4 years it will be 18k. Huge benefit for middle class. In addition child tax credit for mom staying at home is also beneficial.

We put ourselves accountable and apply restrictions on our own spending. The kids whom we value more than anything in the world, will not be given free hand on spending why let govt have your money. The less the better.

We need to get out of the mindset that we owe govt money. We have to make them accountable for every penny. Hence

Individual benefit programs aka welfare should be minimised
Spending should be curtailed.

We saw recent examples such as 2 billion for a plane, 125 billion of wastage in pentagon etc.

Tax cuts is a wrong word. They don't own any of my money. It's my donation to govt to run it
the story of YCP and TDP in 2014 (AP)- http://goo.gl/zgrYmQ
http://goo.gl/gn6XL5
the story of TDP in 2014 (T) - http://goo.gl/nyu1Wu
 

Jai_ycp
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Posted on Saturday, December 10, 2016 - 08:37 am:       

3% change for joint fliers whose income is great than 150k.
3% change for single fliers whose income is greater than 90k.
Not only these but increase in standard deduction, cap on itemized deductions, eliminating AMT
Most of all current tax brackets are continuation of bush tax cuts which will expire shortly. Hillary would have let them expire and taxes would rise. She or any dem would say we did not raise taxes which is theoretically correct but practically BS

Let's look at pre bush taxes I.e. 2000. For sample people making joint filing of 43-105 k will pay 28% and from 105-161 31%. For single filers, you will pay 31% if you make 63-130.

Dems will come back and say we had surplus budget. Duuuuuuh. You robbed from us so what the heck.
http://taxfoundation.org/sites/taxfoundation.org/files/docs/ fed_individual_rate_history_recentyears-20100923.xls
the story of YCP and TDP in 2014 (AP)- http://goo.gl/zgrYmQ
http://goo.gl/gn6XL5
the story of TDP in 2014 (T) - http://goo.gl/nyu1Wu
 

Savyasachi
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Posted on Saturday, December 10, 2016 - 08:19 am:       

if your income falls 37k-91k if filing single and 75k-150k then there is no difference . but if you are making between 91k-112k if single or 151-225k if filing jointly you will save 3% in takes .

i guess mostly desi guys/families fall into the second bracket essentially saving 3%. atleast i will save
 

Wellsfargo
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Posted on Saturday, December 10, 2016 - 07:28 am:       


Sensation:

If is bad plan for most of the Indians. Apart from that, this is very bad to have few bands. Bible Belt batch is baga dinchutunnadu.




entha difference paduthundi
 

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Posted on Saturday, December 10, 2016 - 07:13 am:       

If is bad plan for most of the Indians. Apart from that, this is very bad to have few bands. Bible Belt batch is baga dinchutunnadu.
 

Andhravodu
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Posted on Friday, December 09, 2016 - 08:04 pm:       


Ntr_rocks:


joint income le sami. contract batukulu, next year mallee etukkovali
 

Ntr_rocks
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Posted on Friday, December 09, 2016 - 08:03 pm:       


Andhravodu:

3% tax savings, almost 6k federal tax relief. Thanks Trump


 

Andhravodu
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Posted on Friday, December 09, 2016 - 08:00 pm:       

3% tax savings, almost 6k federal tax relief. Thanks Trump

2016 fiscal year ki chesi padeste poyedi, unfortunately next year daka wait cheyali
 

Chiru_fan
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Posted on Friday, December 09, 2016 - 07:42 pm:       


Aggipidugu116:

Is this after deductions



yes
CHIRU - SACHIN - FEDERER
 

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Posted on Friday, December 09, 2016 - 07:37 pm:       


Dharmic Happiness
 

Aggipidugu116
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Posted on Friday, December 09, 2016 - 07:36 pm:       

Is this after deductions (standard/custom) ? for ex , married filing jointly and Salary is 150K:

18 K for 401K (pretax), 8K twords health and other insurances (pretax), standard decutions are 24K (including kids ).. so he will come under 100K braket for actual taxes ? then these trump rates apply to 100K brakets ?
 

Hadoop
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Posted on Friday, December 09, 2016 - 06:55 pm:       

single filers ki full benefit......joint rich folks ki same
 

Nippu
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Posted on Friday, December 09, 2016 - 06:52 pm:       

Hot rod
 

Chiru_fan
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Posted on Friday, December 09, 2016 - 06:36 pm:       

Ash chichha, inthaka mundu veree link icchinav where the taxes under Trump kumar was showing less....deentloo yeemi change ledu.....desi gallu married and joint filers ki pedda gaa use vundadu.....unless balisina batch thappinchi....
CHIRU - SACHIN - FEDERER
 

Bithiri_bathi
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Posted on Friday, December 09, 2016 - 06:19 pm:       

Bongulodhi inthoti daaniki taxes reduction annaru...mundhu 33% Trump tax plan lo kuda 33% endhi sami idhi


edho oka consolation prize undali kadha maa Hillary supporters ki Trump win ayyi nanduku
 

Happyguy415
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Posted on Friday, December 09, 2016 - 06:09 pm:       


Moonboy:

lolll.. he is not reducing the taxes then.. hmm..unless i make more than 413k




yes...

jai_ycp annai - please comment
 

Happyguy415
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Posted on Friday, December 09, 2016 - 06:08 pm:       


Starc:

28%..

before it was 38%.. am i correct?




nope - 25% - remains as 25%

I'm not talking about "high" income ...only the 75K to 150K bracket...where most middle class falls - especially Indian IT families with single earner
 

Moonboy
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Posted on Friday, December 09, 2016 - 06:06 pm:       

lolll.. he is not reducing the taxes then.. hmm..unless i make more than 413k
 

Starc
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Posted on Friday, December 09, 2016 - 06:04 pm:       


Happyguy415:


28%..

before it was 38%.. am i correct?
Pandulu drainaige guntalo undi matladukuntai anta.. Chi Chi Manushulu ala ela untaru.. chi chi..
 

Happyguy415
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Posted on Friday, December 09, 2016 - 06:04 pm:       


Gringo:

https://howmuch.net




so no advantage for single income desi households
75K to 150K - no change in tax rate
 

Gringo
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Posted on Friday, December 09, 2016 - 05:51 pm:       

https://howmuch.net

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