Jkloc420
Do you need an air compressor or tire gauge
you can only put in 18500, it just went up 500. Where do you get 24000 from
That could be. I may be rembering the numbers incorrectly.
So how does the tax break of 2400 relate to the $18500? I admit that I only maintain a passing curiosity to terms like "tax break, tax credit, tax deferred, etc".
Jkloc420
Do you need an air compressor or tire gauge
i think you can only claim so much on your taxes, like the other guy said, when you do the before tax thing on your 401k, you can claim some of that on your taxes
But if you lower the marginal rates across the board, the rich get even more.
They get the tax breaks for each and every income level up to the top.
Jkloc420
Do you need an air compressor or tire gauge
the point is they make so much any type of break evrn 1 percent looks huge
So going from $18500 down to $2400 is a big deal. The idea of putting money in a 401(k) is that the taxes are deferred and therefore the income from interest is vastly increased. T
Jkloc420
Do you need an air compressor or tire gauge
I don't think so. The point is that income up to certain levels is taxed at different levels. So a person getting tax breaks gets them at every level.
Jkloc420
Do you need an air compressor or tire gauge
correct
Jkloc420
Do you need an air compressor or tire gauge
lets say tge top rate changes to 37 percent, and you have 200000 in that bracket
Jkloc420
Do you need an air compressor or tire gauge
i was trying to explain that but i wasnt doing it right, 185000 is what you can contribute and 2400 is what you can claim
But the idea came from a republican congress because they wanted what? Who would have benefited from that?
More tax money right now.
No. The 2400 was a proposal that Trump shot down.
From the middle class that has seen pensions dry up?
And?
Jkloc420
Do you need an air compressor or tire gauge
yea i know, im explaing what it is though
Gotcha
