Any data on number/% of NY taxpayers who will benefit under Trump tax overhaul? And upstate vs down state.

bummp

The liberal mayor of an upstate city had an agenda item to go against the tax cuts.

Guy's an idiot.

I would guess only the very wealthy in the city won't benefit. 95% must benefit.

Fuck NYS.

Average worker in NY State making 35-40k will only see about $50 per month more in their paychecks. Certainly not enough to make a difference in lives, and not enough to turn NY into a red state.

Good job cherry picking your use case. Please show me your math how you came up with this figure?

My calculations show that if you are making this amount of money, file jointly you save 1200 annually, twice what you indicate. When you consider the entire tax burden of someone in this bracket, that's nearly a 40% reduction in actual tax.

There is NO WAY to turn NY Red with urban populations that vote lock/stop democratic. The best you can do is what I hope Trump does is reveal the corruption and deceit and hopefully in disgust, and hopefully the people get it but never underestimate the power of Stupid.

I will no longer have an advantage of being able to claim property taxes and mortgage interest. Of course... I still will be able to itemize those deductions... but I would loose money since the standard deduction will be much higher.
It was a pretty slick way to take the mortgage interest and property tax advantage away.

I think that number is 100%. Everyone benefits.

NYS sucks. High property taxes, high state income tax, crazy gun laws, insane state vehicle inspection laws. Why anyone would stay in that state is beyond me.

Yup...if one does not itemize...they will probably be better off. For those of us that have historically itemized...that tax advantage will be gone for many.

What say you op? You must not itemize.
Many will say goodbye to the home ownership tax advantage. Might be better off to rent now.

corporations will now stay in the country so that means jobs for you guys.

You guys are funny. Sure...take the tax advantage of home ownership away and give it to the corporations. Yup...the lobby is doing well...and the masses applaud. Amazing

Crickets.

And by the way...there is a better way to keep jobs in this country...and even foster a manufacturing boom...all done without giving the corporations the advantage of writing our tax laws.

Even in NY most homeowners do not pay property tax amounts and state tax amounts that would keep them from saving with the Trump tax cuts. Renters, who are a massive portion of citizens of all states, don't pay property taxes so they will save a lot. NY politicians condemning the Trump tax bill are anti new yorker in the end, except for their wealthy NY friends.

Like what?

According to the mass amounts of people attempting to pay their property taxes before the end of the year...you are wrong. Home owners will take a big hit.

Like addressing the slave labored imports issue.

The mass amount of people that I have given advice to aren't doing it because they lose it.

They are doing it to double the deduction this year while they can by adding prepaid 2018 with 2017 already paid.

That being said - most people benefot from the higher standard deduction.

Fixed it for you.

Pres. Trump is on it so you are in luck.

Say goodbye to your homeownership advantage.

I thought it was just being capped to $10k per year. My school/property tax bill is $6k/year. I will still be able to itemize this when doing my taxes, no?

Wrong again op. I went down to the tax office on Friday to inquire about paying my taxes early before the end of the year...there was a line at the counter. This is one month before town taxes are due.

Applies only if you live in a mansion. Still an advantage if you are one of NY or the US common folk (95% of us)

Sure you will be able to itemize, but you will lose money by not opting for the higher standard deduction most everyone else will be taking. Your home ownership advantage in NY is dissolving.

Wrong again. I live in no mansion and I am fixing to lose my home ownership advantage.

The biggest losers are state and local governments that tax the shit out of people.

Fuck NYS. Many states have dirt cheap property taxes, low or no income tax, and even no sales tax.

NYS can drain the swamp and get rid of their excessive liberal bloat.