Old 03-15-2019, 05:00 PM
Capt Grady 23 Gulfstream
Senior Member
Join Date: Mar 2018
Location: Carolinas
Posts: 177

Originally Posted by psychocuda View Post
Have an S Corp so the 20% write off on pass through income was nice. Paid only 700 more in Fed taxes than I did in 2017 but earned 18,000 more this year. Raised standard deduction also helped. Thank you President Trump

Exactly. Raised standard deduction IS the change for low to middle income people, but they don't know how or why that helps.

FIRST $24,000 of income tax FREE, plus $6,000 double standard deduction I believe, is $30,000 tax free, may be off s little. Of course they don't know, and didn't listen to proposed tax plan, so they didn't expect their refund to go in favor of more paycheck.
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