Video Summary of Changes to 2020 Tax Code

[james.hendrickson]

Guys,

Saw this summary of 2020 tax issues on Youtube. Thought it was good, wanted to share.

https://www.youtube.com/watch?v=ewhbBCRvIO0

Screen grab below.

[Milly]

Thanks for sharing! That was pretty comprehensive.

[james.hendrickson]

Thanks for sharing! That was pretty comprehensive.

I'm a geek, I love that stuff.

[Milly]

I'm a geek, I love that stuff.

I was glancing over the for sale section at the library, pushing the last ounce of goodness out of my increasingly impatient kids (3, 5, 6 years old). An older lady noticed and asked "what kind of books do you like?" I responded without a thought "monetary policy and finance". Her look said she had nothing to work with, but after a pause, she handed me a flier and said, "well, I'm sure we have something for you at our book sale next week." I had a great silent laugh once she walked back. She just looked so at a loss.

Yup, we are our own breed and happy for it.

[james.hendrickson]

I was glancing over the for sale section at the library, pushing the last ounce of goodness out of my increasingly impatient kids (3, 5, 6 years old). An older lady noticed and asked "what kind of books do you like?" I responded without a thought "monetary policy and finance". Her look said she had nothing to work with, but after a pause, she handed me a flier and said, "well, I'm sure we have something for you at our book sale next week." I had a great silent laugh once she walked back. She just looked so at a loss.

Yup, we are our own breed and happy for it.

Totally Milly - I feel like general public doesn't get how important tax policy really is.

[Singuy]

I still can't believe they extended the child credit even beyond 315k threshold for a married couple to 400k! Just ridiculous how much tax money household that makes beyond 150k get back under these new tax laws.

[~bs]

$10k standard deduction, no personal exemption, and cap on state tax deduction still shafting a lot of people.

[Like2Plan]

Just ridiculous how much tax money household that makes beyond 150k get back under these new tax laws.

You don't pay any taxes?

Still, if you want to pay more: https://www.treasurydirect.gov/govt/.../gift/gift.htm

https://www.treasurydirect.gov/govt/resources/faq/faq_publicdebt.htm#DebtFinance

[disneysteve]

$10k standard deduction, no personal exemption, and cap on state tax deduction still shafting a lot of people.

Yep. The Trump tax hike cost us a few thousand.