this is the first year that i have done our taxes myself
in almost 30 years
while in practice my taxes were always too complicated
when we moved to the country that were a lot of tax
deductions for the property that were just too complicated
for me to do
after i had to retire in 2010 and i was no longer associated
with the clinic my taxes gradually got less and less complicated
when we sold our country n last year
all those deductions from the property went away
now with the new law we really dont have enough
deductions to claim that would exceed the exemption
that is new and higher
so i decided to do them myself this year
it also for me was a test of my cognition
i decided if i could do my taxes
both the federal and state ones
then i was in good standing with my memory
the federal tax form was easy breezy
i zoomed right through all that
however
since i moved into the state in august
the form the long one i had to do for california taxes
well that one did test my memory and cognitive
abilities an awful lot
but
i manged to do it after several attempts
i had a sense of accomplishment when i finished
plus
i feel good about my status now with my brain
8 years ago if you told me i was going to be able to
do these taxes
i would have said no way
i was expecting to not to be able to do these things
by now
i also used a hr block program where i estimated my
taxes for 2018 based on our present financial situation
when i saw what we would owe next year
i got to wondering
what difference in folks paychecks did this new tax law really
make in peoples checks in 2018
here is the link to the article where i go these numbers
i picked several occupations of folks i know that read this blog
then i listed their wages
im not sure where these wages came from
this one below is definitely not from oklahoma
eg
the schoolteachers wage was 60k
the increased two week paycheck was $64,69
or
$1682.94 per year
a 2.8% increase in pay
the paycheck increases were from paying less taxes
these are for a single person non homeowner getting paid every
2 weeks
so thats 26 paychecks a year
so its
annual salary
every two week savings
annual savings
% increase in check
waitperson
25k
$12.94
$335.34
1.3%
clerk
22 k
$9,76
$253.76
1.2%
pharmacist
120k
$133.50
$3471
2.9%
construction worker
38k
$28.50
$741
1.9%
electrician
57k
$59.17
$1538.42
2.6%
firefighter
51k
$51.50
$1339
2.6%
family doctor
200k
$161.08
$4188.08
2.1%
oh my
that would have been a good saving in taxes for me
if i was still in practice
something doesnt see right about all this
as i look at this
i think of all of the tax cuts that were given
where did it all go
it doesnt seem to have gone much to any of these folks in this article
or
to many of you who read this blog
unless they were on the higher end of the salaries
why do the lower wages get less of a % increase
i think its that 1% group thing again
their tax savings numbers are well obscene
we need to remember that these increased incomes we are
all getting from the tax cuts
well its coming off the backs of our kids and our future generations
they will be paying for them
the organicgreen doctor
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