Windy City Ag said:

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Huh? The data suggests otherwise…so not a Trump lie.

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There is no actual data yet, only simulations that show targeted relief to old folks and lower income earners.

Blue state folks are loving the return of SALT deductions.

Most everything phases out very quickly.

I could see the average citizen getting some small relief because higher income is pretty concentrated in a small group.

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But some are seeing more than previously…just simple math and without data, people will see a larger refund….I don't fall into this category and had to pay.

ChemAg15 said:

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40k SALT cap helped us tremendously. Overall my tax burden dropped by 1% YoY.

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This

B-1 83 said:

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Only those rich people who depend on tips and Social Security benefitted.

I owed a few thousand less and made more money. Next year I'll get the old people deduction.

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Don't forget all the Billionaires and Oligarchs who get paid overtime

My return is higher this year, idk how much the overtime deal played in to that.

People complaining that it did nothing and Trump lied, need to realize had they not done the bill it would have went back to what it was before Trumps first term.

Had that happened, yall would really be whining

I think they should have cut more taxes for everyone but you are dealing with congress who were worried about how to pay for the tax cuts. I guess those idiots forgot that when we lowered the taxes in 2016 we brought in more revenue, not less. Another thing that pissed me off was the weak tax on remittance money. House had that tax at 5% and senate lowered it to 1%. It should have been 25% or more, that would have brought in a lot of revenue but no, idiot Rs didn't want to mess with illegal immigrants I guess

My understanding was that the extra $6000 senior deduction was to represent an alternative to no tax on social security benefits. Despite my general negative opinion of the new Tax Bill, I was pleased with this specific deduction because of the attempted fairness in not getting taxed twice on income we've earned over the years.

However, we ended up not getting one red cent of that deduction. The income phase out is pretty aggressive. So, the advertised benefit appears to be somewhat of a misleading issue.

Guess I'll take the cup half full view of this disappointment. At least we indirectly did our small part to not increase the national debt level even further.

Windy City Ag said:

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Quote:

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Huh? The data suggests otherwise…so not a Trump lie.

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There is no actual data yet, only simulations that show targeted relief to old folks and lower income earners.

Blue state folks are loving the return of SALT deductions.

Most everything phases out very quickly.

I could see the average citizen getting some small relief because higher income is pretty concentrated in a small group.

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The relief vs. last year should be calculated based on the Democrats proposed expiration of the Jobs Act rates. Absent the OBBB, the largest income tax increase in US history would have been allowed to occur.

FightinTAC08 said:

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most people aren't going to see a meaningful change.

If you took the standard deduction, you are pretty much similar to last year. If you itemized you maybe benefitted from the increased state and local tax deduction to 40k.

no tax on tips and overtime should help some people as well.

Any easy planning tip or those that can itemize but are close to the standard deduction - consider taking the standard deduction in 2026 but itemizing in 2027. If you pay your 1/31/27 taxes in January 2027 and pay your 1/31/28 taxes in December 2027 then you've increased your deductible taxes. you need to model it out too to see what the change would be. if you escrow probably a non-starter unless you can get your servicer to pay at different times. you can flip this to itemizing in 2026 and standard deduction in 2027 if you paid your 1/31/26 taxes in January 2026.

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We did this for 2025 and came out ahead because of it. Partially because we happened to pay our 2024 taxes in Feb 2025 so then we paid our 2025 taxes in December 2025 to take advantage. That SALT Cap helped red staters as well even though I was pretty much against helping the blue states on that.

Every taxpayer should be required to be self-employed for a year.

2026NCAggies said:

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My return is higher this year, idk how much the overtime deal played in to that.

People complaining that it did nothing and Trump lied, need to realize had they not done the bill it would have went back to what it was before Trumps first term.

Had that happened, yall would really be whining

I think they should have cut more taxes for everyone but you are dealing with congress who were worried about how to pay for the tax cuts. I guess those idiots forgot that when we lowered the taxes in 2016 we brought in more revenue, not less. Another thing that pissed me off was the weak tax on remittance money. House had that tax at 5% and senate lowered it to 1%. It should have been 25% or more, that would have brought in a lot of revenue but no, idiot Rs didn't want to mess with illegal immigrants I guess

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The vast majority of people don't understand or pay attention enough to remember this or know this. This board is an exception but you can see a few posters on here who clearly didn't realize this or forgot about it.

DonHenley said:

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Refund didn't change at all. Another Trump lie.

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How would you have faired if the Dems had allowed the expiration of the Jobs Act rates that were in place for Fiscal 2024?

northeastag said:

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Refund? Refund?

No matter how much in estimated taxes I seem too pay, I write another check every April. And no, despite what the blowhard in chief constantly says, the bill did NOT eliminate taxes on social security.

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Did you take advantage of the extra standard deduction? ($6k single / $12k married)

Paid less than 1000, last year 36k but it was about money moving out of accounts, and made more money on my side job in 24 etc. just grateful it didn't go back up.

Interesting some of the whiners here who love taxes, but only when it's taking other people's money.

Made no significant changes from the previous year and paid $1,100 for 2024 but this year receiving $320 back so a $1,400 improvement. I'll take it!

I paid about $120k more in taxes for 2025 than I did in 2024 /humblebrag (due to some private equity chicanery at my work)

I'm just happy that I moved to Texas so I didn't have to give any additional money to Gavin Newsom on top of that.

Yesterday, I cut the IRS a check for the underpayment which was more than I paid for my 1999 Expedition when it was new. Nuts.

Filed an extension since the accountants can't work in a timely manner to close the books, so I guess we'll see. Somehow the IRS always wants more money.

Quote:

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The relief vs. last year should be calculated based on the Democrats proposed expiration of the Jobs Act rates. Absent the OBBB, the largest income tax increase in US history would have been allowed to occur.

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We should be honest here about the history. The original rates were from the Tax Cuts and Jobs Act of 2017, put in place by a GOP controlled congress and signed into law by the first Trump Administration. They were designed purposefully to expire in 2025.


The largest percentage tax increases in history are all from years ago.

1) The Revenue Act of 1932 pushed the top rate from 25% to 63%

2) The 1917 tax code pushed top rates from 15$ to 67%

You can of course argue that in aggregate dollars the expiration of the cuts out in place by a GOP controlled Congress would be the largest in total dollars, but that is king of a meaningless point.

DonHenley said:

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Refund didn't change at all. Another Trump lie.

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Not paying any taxes and mooching off the system = Trump lies about getting more free money

What a loser

I have normally been in the ball park of owing $50-100

This year was my first year I itemized after purchasing my first home so it was my first ever large return. So I can't say it was related to BBB or not but it was appreciated

People not smart enough to understand how individual circumstances influence your taxes and then calling other people stupid lol

northeastag said:

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Refund? Refund?

No matter how much in estimated taxes I seem too pay, I write another check every April. And no, despite what the blowhard in chief constantly says, the bill did NOT eliminate taxes on social security.

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How old are you?

I got a refund from the Feds. We've always owed a little bit, so it was surprising.

Now for the real fun part. Our Oregon Kicker was $14k, lol. Love to bag on the numbnuts in this state, but the kicker is baked into the state constitution and great. If the state takes in more tax revenue than planned, every other year that have to return that surplus back to taxpayers as a "kicker" refund. And it's calculated directly off your prior year's tax liability. So the more you pay in taxes, the larger the kicker. Which just pisses off the right people when we get one.

I got just barely over $5k back in refund.

Tax refunds for everybody!

While the deficit explodes and our debt spirals.

And you understand how he bankrupted a casino.

I got a ~$2,000 refund, but only because I took a business loss due to significant capital investment and made some very large charitable contributions.

Ag98and03 said:

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Tax refunds for everybody!

While the deficit explodes and our debt spirals.

And you understand how he bankrupted a casino.

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Another person that doesn't understand refunds!

Pro tip: the deficit and the debt are not going to get fixed by anyone. Welcome to reality!

YouBet said:

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Ag98and03 said:

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Tax refunds for everybody!

While the deficit explodes and our debt spirals.

And you understand how he bankrupted a casino.

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Another person that doesn't understand refunds!

Pro tip: the deficit and the debt are not going to get fixed by anyone. Welcome to reality!

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Yep. People don't understand our tax system at all. It's embarrassing to see Ag tags posting crap like that.

We wrote a check so maybe that will make him feel better.

Ag98and03 said:

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Tax refunds for everybody!

While the deficit explodes and our debt spirals.

And you understand how he bankrupted a casino.

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So you like the tariffs, huh?

Your Mom And Them said:

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Didn't help us one bit. I actually owe more this year than I did last year.

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I'm in the same boat, but amount owed was only 2% more than last year even though earnings were similar.

northeastag said:

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Refund? Refund?

No matter how much in estimated taxes I seem too pay, I write another check every April. And no, despite what the blowhard in chief constantly says, the bill did NOT eliminate taxes on social security.

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Why in the hell would you - or anyone for that matter - want to get a refund? That's allowing the gov to use your money interest free!

It eliminated some taxes on SS, yes it did.

Your Mom And Them said:

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Didn't help us one bit. I actually owe more this year than I did last year.

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For the same income?? How? Maybe you need a new accountant?

Quote:

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Why in the hell would you - or anyone for that matter - want to get a refund? That's allowing the gov to use your money interest free!

It eliminated some taxes on SS, yes it did.

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Exactly I can't believe we are almost 3 pages in and no one said this. OP gets $5k and is excited to get his own money back. Adjust your contributions and put that money to work for you.

FightinTAC08 said:

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most people aren't going to see a meaningful change.

If you took the standard deduction, you are pretty much similar to last year. If you itemized you maybe benefitted from the increased state and local tax deduction to 40k.

no tax on tips and overtime should help some people as well.

Any easy planning tip or those that can itemize but are close to the standard deduction - consider taking the standard deduction in 2026 but itemizing in 2027. If you pay your 1/31/27 taxes in January 2027 and pay your 1/31/28 taxes in December 2027 then you've increased your deductible taxes. you need to model it out too to see what the change would be. if you escrow probably a non-starter unless you can get your servicer to pay at different times. you can flip this to itemizing in 2026 and standard deduction in 2027 if you paid your 1/31/26 taxes in January 2026.

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If they had no tax on overtime before my husband retired we would be in great shape now. I can't complain because we are both retired and have enough to make ends meet and to 100% support our daughter and grandson who live with us. My hubby worked crazy amounts of overtime while the kids were in college so they could graduate without debt.

Logos Stick said:

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northeastag said:

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Refund? Refund?

No matter how much in estimated taxes I seem too pay, I write another check every April. And no, despite what the blowhard in chief constantly says, the bill did NOT eliminate taxes on social security.

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Why in the hell would you - or anyone for that matter - want to get a refund? That's allowing the gov to use your money interest free!

It eliminated some taxes on SS, yes it did.

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It most certainly did not. It provided a new senior deduction that phases out with income.

northeastag said:

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Logos Stick said:

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northeastag said:

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Refund? Refund?

No matter how much in estimated taxes I seem too pay, I write another check every April. And no, despite what the blowhard in chief constantly says, the bill did NOT eliminate taxes on social security.

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Why in the hell would you - or anyone for that matter - want to get a refund? That's allowing the gov to use your money interest free!

It eliminated some taxes on SS, yes it did.

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It most certainly did not. It provided a new senior deduction that phases out with income.

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How old are you? It sounds like tax on SS is the least of your tax concerns. Do you have a good accountant?