Reply To: Tax Time Nightmare….Trump’s Tax Reforms Cost me big time

@Joseph
I am well off, I don’t fit into the 1% or even 3% of top incomes in the USA.
I am not an accountant, but my undergraduate studies were at the Wharton School of Finance, University of Pennsylvania. Being a family law, wills, trusts and estates attorney, the tax codes are an integral part of my practice We prepare tax returns for many trusts/clients as well as assist in tax planning (which is a major reason to create trusts).
I cannot speak for the vast majority of the American middle class, but I doubt most of those in the northeast and California saw a tax decrease.
I live in a small town with an average family income of 115K and average single family home market value of 450K which means an average property tax of 15K plus state income tax. This is not a wealthy suburb of top executives, but working people, teachers, lawyers, doctors, tradesmen and small business owners.
The town ran a free income tax clinic at the library three days this week. Those residents using the service were asked to fill out a short survey (no names)……72% had higher tax bills/lower refunds for 2018 than 2017 on similar incomes. Many of our residents are seniors on Social Security and fixed incomes. Without being able to deduct the full state and local taxes they are eating into their capital and being forced to consider selling and moving to cheaper cost of living states.