Could someone please explain to me what Gov. Hogan is talking about in preparing to save the state from Trump's tax cuts.... YES, MARYLAND IS THE STATE OF CONFUSION.
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30 comments:
MD generally follows IRS rules. Without reform Marylander's will lose many deductions under the new rules, so Hogan is looking out for you.
Hogan is no more a Republican than my damn dog is! He was buddy buddy with Liarton! Need I say more?
He lives in a very blue state, folks. If he doesn't make it appear that he is appeasing ALL of the voters, he will not get re-elected.
Look at the glass as half-full instead of half-empty.
Remember our last Governor??? You want that again?!?
Be happy for the way he's changed the direction of the ship and stop worrying about the tacks and jibes along the way.
It's pretty straight forward (and sneaky). Taxes paid to MD (or any State) are DEDUCTABLE from your Federal taxes. It's gonna appear as if your taxes are raised with tax reform. In fact, they have not. The deduction simply went away. The higher your State taxes, the bigger loss of deduction. It is not dollar for dollar though because all Federal taxpayers get the deduction. The problem is that the taxpayer in DE with lower taxes has a much lower deduction than a Marylander. All Federal taxpayers basically subsidize the States. The higher the State taxes, the greater the loss of Federal deduction. Certainly, Hogan can cut its taxes to offset that but, will they?
He didn't back Trump so Why should we back him? He showed us where he stands and it is not with us. But on a good note he is better then the last one. (map)
12:45 Please don't confuse these idiots with facts. SALT is just something you put on all food before eating. Real Estate tax deduction being capped at $10k sounds high but not on the western shore and Talbot county.
1:03,
That's not quite it. The new law caps itemized deductions for state taxes, and eliminates most miscellaneous itemized deductions altogether. These changes will lower overall itemized deductions, and encourage more people to take the standard deduction. Since MD generally follows the IRS rules, lower deductions will increase MD taxable income and MD income tax. This is what Hogan is talking about fixing.
I could be wrong but it is my understanding that state and local taxes are deductible up to $10,000. We are losing the ability to deduct amounts greater than $10,000. I am guessing most folks in Maryland are not affected by this change.
PLeasw list what Maryland will lose...
Untrue. Grand standing for election
I agree my friend
What does that mean? Give me example ?
Trump's tax cuts forcing lame governor's to cut their own taxes and they don't like it.
4:04 Most on the slower lower are not unless they own waterfront or a second home at the beach. Property taxes can be ratehr hight on the other side of the bay.
Actually taxes are higher on this side of the bay. That's why we are getting out of Maryland Eastern shore. Everything is more expensive, electricity, water (Oh my) so high. Florida is the place to be.
Yes 6:49 - Granted property taxes ARE higher on the other side of the bay...as are the properties and wages. Loss of deductions does mean higher MD tax owed. I see nothing about this tax reform that will benefit seniors and other folks on FIXED INCOMES and SINGLE, CHILDLESS folks - especially ones making $20-25K. This takes away deductions and consolidates one exception ($4050) with the standard deduction ($6350) = $10,400 changed to a standard of $12K with difference of $1600. I don't like it. It's all for corporations and "middle income FAMILIES". I am a single home buyer with no kids... friggin taxes KILL us!!
Florida is a arm pit.
go to the website and READ IT. I can't tell if your trolling or a moron.
You see nothing because it doesn't fit your narrative. Stop the madness snowflake it's the best tax plan ever. Your welcome!!?
8:34 My FL property has doubled in value in the last 5 years. How much did your property increase in value in Wicomico county or Salisbury?
The only ones that really dont like the tax bill are high state taxed and regulated. The very ones that gave those high taxes are now all of a sudden concerned about your state taxes? Gov Hogan did not give Md those high taxes, former Democrats did and some of those same Democrats still support the high taxes and still want you to pay them! Gov Hogan wants to help you and your wallet. NJ, NY, Ca and Md are the main ones fighting the tax plan and are the highest taxed states! Thank You Mr Gov for trying to do whats right for the people of this state! Get the Democrats out of this state!
This governor is bi-polar...sometimes he just doesn't get it. His rejection of President Trump has clouded his brain.
This man is one great big lie after another voted for him big mistake won't make that one again.
12:20 what has he lied about? There are a few things that has not gotten accomplished but that is also due to being fought at every turn by Demonrats in this state. I want to know what those lies are so that we can make informed decisions come November. What really choice do we have unless you want more of the Martin Omalley policy that those Demorats will hand back to us.
BTW - We don't pay any state income tax in FL and now you won't be able to deduct your MD state and county taxes from your Federal returns. LMAO!
In what way + I have 7 beaches with 8-11 miles. People are so friendly. Get doctors with names you can pronounce. Amazing restuarants. I guess I should have said I moved to Siesta Key FL. Ranked #1beach in America! What's wrong with Salisbury. Appears the University is taking over trying to educate rich out of town dumb kids who didn't qualify for a better school. Sad
How about them hurricanes.....?
99% of FL is marsh, farmland and a mixture of white and non-white poor people. Waterfront areas are beautiful and filled with a mix of retired and successful business people. There is virtually no crime, people are friendly, cars are not locked at night, neighbors know each other and almost no rentals. Man, I sure wish I was back in Salisbury, NOT!
You must speak Spanish and own a pair of hip boots to live in Florida ha.
Same can be said most of the eastern shore too. Been to georgetown or seaford lately?
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