Running through this calculator, I get $0, and that doesn't thrill me. (There doesn't seem to be any break at all for salaried employees.)
But if you make any kind of tip money or overtime this seems like a huge boon, and I'm fine with that, because folks in that wage bracket have been fucked over repeatedly.
Social Security COLAs are a joke! We get a small raise and Part B premiums, supplement Insurance and Part D premiums get it all with their cost increases at the same time! Pathetic BS!
I know it will at least save me about $1000, didn’t do the calculator but $200 per NFA item I don’t have to pay, 3 SBRS and 2 suppressors idk yet. I know not related to tips but it is a tax saved.
No tax on Tips? The tipped people all cheat anyway... They will pay in the end because Worker's Compensation, Unemployment, and Social Security are based on taxes.
No tax on OT, only helps people who can get OT and it isn't always available. Note: I work in Security and can get OT frequently.
A small increase in the amount of SS that isn't taxed? color me excited...
An increase in the Standard deduction? Inflation ate that.
This all expires just in time to make election slaves. Like student loan forgiveness...
Of coarse we haven't seen Senate modifications yet...
It's not just tips and overtime, it's things like 100% expensing and energy breaks that encourage businesses to expand. There's much more in this bill than just tax relief. And don't forget that if it DOESN'T pass, we'll lose the previous tax cuts. "A rising tide lifts all boats."
Fellow okie here who isn’t paid that way either. My taxes actually went up with Trump’s tax cuts in his first term. Adds insult to injury to the fact I have to pay okla tax on my Texas teacher retirement annuity.
Taxes are a burden especially when you look around and see how much is wasted!
What frustrates me more is the cost of insurance which is my largest expense by far!
Running through this calculator, I get $0, and that doesn't thrill me. (There doesn't seem to be any break at all for salaried employees.)
But if you make any kind of tip money or overtime this seems like a huge boon, and I'm fine with that, because folks in that wage bracket have been fucked over repeatedly.
Yeah, doesn't help us out at all. But maybe it will our youngest child, who is a hair stylist who gets tips.
I'm in the same boat, but I'm good with my countrymen benefiting.
Everyone should get at least a bit of a bone tossed our way…
Nothing for me, and with inflation still eroding my purchasing power far faster than my compensation adjusts, I remain in the hole since COVID.
That's just a calculator for overtime/tips savings, If you look at the bottom and hover over your state, it gives an average savings per tax payer
0 I save 0. Big 0
Ditto
Guess the cabal still gets our money.
Throw no tax on SSA in the mix, then it helps me.
Social Security COLAs are a joke! We get a small raise and Part B premiums, supplement Insurance and Part D premiums get it all with their cost increases at the same time! Pathetic BS!
I know it will at least save me about $1000, didn’t do the calculator but $200 per NFA item I don’t have to pay, 3 SBRS and 2 suppressors idk yet. I know not related to tips but it is a tax saved.
No tax on Tips? The tipped people all cheat anyway... They will pay in the end because Worker's Compensation, Unemployment, and Social Security are based on taxes.
No tax on OT, only helps people who can get OT and it isn't always available. Note: I work in Security and can get OT frequently.
A small increase in the amount of SS that isn't taxed? color me excited...
An increase in the Standard deduction? Inflation ate that.
This all expires just in time to make election slaves. Like student loan forgiveness...
Of coarse we haven't seen Senate modifications yet...
Mississippi still in LAST place!
Dan's post - https://x.com/Scavino47/status/1936111550286135669
Link to the White House page that Dan linked in his post - https://www.whitehouse.gov/obbb/
It's not just tips and overtime, it's things like 100% expensing and energy breaks that encourage businesses to expand. There's much more in this bill than just tax relief. And don't forget that if it DOESN'T pass, we'll lose the previous tax cuts. "A rising tide lifts all boats."
$6400-$10,600 on tax cuts. -0- on tips and overtime. Not paid that way
Fellow okie here who isn’t paid that way either. My taxes actually went up with Trump’s tax cuts in his first term. Adds insult to injury to the fact I have to pay okla tax on my Texas teacher retirement annuity.
Taxes are a burden especially when you look around and see how much is wasted! What frustrates me more is the cost of insurance which is my largest expense by far!