Politics & Government
2018 Taxes: Did GOP Tax Reform Help Or Hurt? [POLL]
A poll found that more than two-thirds of taxpayers said the GOP tax reform didn't help them.
Looks as if at least one person in New York benefited from the Trump tax reform. Gov. Andrew Cuomo released his 2018 state and federal tax returns April 15, which showed that he paid less in taxes this year than the previous year.
Cuomo paid $55,000 in taxes in 2017, but for 2018 he paid more than $51,000, usnews.com said.
His income for 2018 was taxed at a federal rate of 18.5 percent, as opposed to 19.6 percent for 2017.
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The reduction was because of tax cuts that the Republican Congress passed and President Donald Trump signed into law at the end of 2017, Zack Fink of NY1 reported.
Granted, Cuomo's salary was $179,000 for 2018 and had more than $40,000 income from investments, though he did see a net loss in separate holdings of a little more than $30,000.
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A survey by Hill-HarrisX, reported by the Los Angeles Times, found that 68 percent of registered voters said the tax cuts weren't helping them and may have made their finances worse.
Only 18 percent of those surveyed said their taxes were less in 2018 than the previous year.
The article did add the caveat that few people who paid taxes calculated what they would have paid under the pre-2018 tax law, so comparisons aren't really exact.
Many taxpayers were not happy that they weren't receiving a refund in 2018, but in fact owed money to the IRS.
That led Nathan Rigney, of H&R Block's Tax Institute, to tell the New York Times that people should make a change to their paycheck withholdings now or it could be worse for next year.
The IRS has a withholding calculator people can use. Similar tools are offered by TurboTax and H&R Block.
Now it's your turn. With April 15 behind us, how did you fare with your taxes this year — better or worse? Vote in our unscientific poll and leave a comment.
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