Gifting tax cut

[Hereiam]

I’m a middle class guy. I’m trying to get an estimate of just how much my tax liability is going to be reduced by, with what sounds like an impressive federal relief bill.

I’d like to calculate the amount and add it to what I donate to my parish, CRS, St. Jude’s, and other Catholic Charities.

Pax et Bonum!

 

[Xanthippe_Voorhees]

I’m a middle class guy. I’m trying to get an estimate of just how much my tax liability is going to be reduced by, with what sounds like an impressive federal relief bill.

I’d like to calculate the amount and add it to what I donate to my parish, CRS, St. Jude’s, and other Catholic Charities.

Pax et Bonum!

Turbo tax is a good site

 

[JetteZ]

Well, since there isn’t a final plan in place you really can’t make those kinds of calculations.

The proposed changes are slated to go into effect for 2018 so there wouldn’t be any changes on your tax liability for this year.

Now, if you are someone who itemizes using deductions that will likely be eliminated it might be prudent to pay as many of them as you can before year end.

 

[Rhubarb]

I would absolutely love to hear what your net change is if the new scheme goes into effect.