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Ms. Toad

(34,069 posts)
7. They are a nice puzzle.
Tue Dec 5, 2017, 01:42 AM
Dec 2017

It's been a while since I got paid to play - but when I did H&R Block revised a couple of their forms because I found errors i the CRUT, for one. (I was looking for a way to be out of the home for a few hours a day when I had a daughter ages 0-5 . . . We mutually used each other - I did good work for them for a pittance; they gave me "free" courses until I qualified to become an enrolled agent. And I got to have fun and some adult time.

Ohio taxes are particularly fun for married couples with very different incomes - I can usually save $500-$1000 by shifting deductions and income around between the couple. Ohio treats the second spouse's income as being earned on top of the first - so unlike the Federal taxes where there is a substantial portion of both spouse's income taxed at the lowest rates, the second spouse's income is taxed at the marginal (Ohio) tax rate - and higher - of the first. Of course, the MFS penalties a the Federal level sometimes throw a monkey wrench into that juggling.

But you're right about the rumored aspects of this tax bill - my "favorite" is that the loss of the deduction for unreimbursed employee business expenses will mean Schedule C businesses will be taxed on gross profits, rather than net. (They aren't saying it that way - but that is the gist of it when they say the are going to lose their business write-offs)

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