Trump tax plan is making my paycheck great again!

[JettaKnight]

I work for a national utility company. They sent out a company wide email saying that being a utility, they were obligated to pass the savings on to the customer and not the employees. So I won’t see any of it on my check per se.

Like Hoosier Doc said, apples and oranges. What you're referring to is the decrease in corporate tax. What everyone else is referring to is personal income tax. Since the personal tax rates have decreased, the amount withheld should decrease proportionally, thus increasing your take home pay. You should notice this in your paychecks by now.

 

[ATOMonkey]

I used the standard deduction this year and got a sizable return, so I'm not terribly worried about getting screwed on the back end. I probably need to adjust my withholding again after this year. It's hard to figure when my wife's business income and expense is so unpredictable. So, I shade on the conservative side.

 

[hoosierdoc]

Standard deduction went up a lot too didn’t it?

 

[ATOMonkey]

That is my understanding, yes.

 

[JettaKnight]

Standard deduction went up a lot too didn’t it?

It did. A lot. But, personal exemptions went away.

 

[IndyTom]

It goes up a lot when you file next year for this year. I know my deductions this year came in under the new value, so I probably won't be itemizing going forward.

 

[hoosierdoc]

It would be great if standard deduction equaled your gross income. Then you pay a sales tax

i get tonpay quarterly this year. Yay.

 

[Expat]

Looks like about $200/month increase. Not as much as I had hoped but better than nothing.