Big Beautiful Bill tax impact looking good so far

[DavidGee24]

FUCK THE POOR! Am I right?

Hard for me to say when my poor clients pay little to no tax at all, and even get big refunds thanks to the Child Tax Credit and Earned Income Credit.

But if you're poor, then yes, fuck you.

[DavidGee24]

FUCK THE POOR! Am I right?

Hard for me to say when my poor clients pay little to no tax at all, and even get big refunds thanks to the Child Tax Credit and Earned Income Credit.

But if you're poor, then yes, fuck you.

Just felt the need to bump the Shutdown Of The Year. Oh, and this is for a black woman client of mine who has two children and made 26K in 2025. That racist Big Beautiful Bill really did a number on her, didn't it, SoB?

[gil]

I haven't finished my taxes yet, but I'll be pleasantly surprised if I get a refund. I try to make my estimated tax payments throughout the year be just a little above what I owe.

I don't expect you to give away any professional secrets, but could you give a hint what within the Bill is driving the lower taxes owed? You cited people who itemize, which I have not done for a few years, after the standard deduction was raised. Thanks!

[DavidGee24]

I haven't finished my taxes yet, but I'll be pleasantly surprised if I get a refund. I try to make my estimated tax payments throughout the year be just a little above what I owe.

I don't expect you to give away any professional secrets, but could you give a hint what within the Bill is driving the lower taxes owed? You cited people who itemize, which I have not done for a few years, after the standard deduction was raised. Thanks!

Standard deduction, hmmm...well, if you work OT and your employer shows your qualified OT on line 14 of your W-2, you can deduct 1/3 of that, hopefully that helps. If you write off children as dependents the Child Tax Credit has jumped. I have my tricks of the trade that work great for itemized deduction taxpayers, but not so much for standard deduction taxpayers.

What makes it challenging in your case is that if you live in Washington you don't pay state income tax which limits what the BBB can do for you. My California clients who pay a lot of state income tax and real estate tax are hitting the federal tax jackpot, mainly because the SALT (state, real estate, vehicle registration) cap was raised from 10K to 40K.

[gil]

I haven't finished my taxes yet, but I'll be pleasantly surprised if I get a refund. I try to make my estimated tax payments throughout the year be just a little above what I owe.

I don't expect you to give away any professional secrets, but could you give a hint what within the Bill is driving the lower taxes owed? You cited people who itemize, which I have not done for a few years, after the standard deduction was raised. Thanks!

Standard deduction, hmmm...well, if you work OT and your employer shows your qualified OT on line 14 of your W-2, you can deduct 1/3 of that, hopefully that helps. If you write off children as dependents the Child Tax Credit has jumped. I have my tricks of the trade that work great for itemized deduction taxpayers, but not so much for standard deduction taxpayers.

What makes it challenging in your case is that if you live in Washington you don't pay state income tax which limits what the BBB can do for you. My California clients who pay a lot of state income tax and real estate tax are hitting the federal tax jackpot, mainly because the SALT (state, real estate, vehicle registration) cap was raised from 10K to 40K.

Thanks. It looks like I need to move to CA incur state income tax. And buy a MUCH more expensive house to take advantage of SALT! Any maybe I can report my income as tips.