For those of you not from Wisconsin, this might not make a lot of sense to you. But traditionally when the federal government made significant changes to their tax codes…primarily to tax deductions and credits and such…the Wisconsin legislature would emulate those changes. So once you completed your federal tax form you pretty much just plugged those numbers into your state form.

But since the Trump tax cuts went into effect…the Wisconsin legislature has been pretty quiet about aligning the state tax codes with the federal codes. So the Wisconsin tax codes will still be running along the lines of the 2017 federal codes and the 2017 Wisconsin state codes. Differences in deductions, credits, etc. A little bit more complicated this year but not insanely so.

So why do you think Madison ignored the federal changes? Because they are confident that they will bankrupt the state? While the Republicans in Washington get ready to borrow a trillion dollars for the current fiscal year…Wisconsin already struggles with their budget. Despite all their blustering along party lines and conservative talking points…even Assembly Speaker Robin Vos and Senate Majority Leader Scott Fitzgerald are probably woke enough to avoid trickle down…

2 Responses to Remember the Trump Tax Cuts? The Madison GOP does/doesn’t

  1. Jake formerly of the LP says:

    Actually, they’ve lined it up if you’re richer and can take advantage of the Tax Adam’s business provisions.

    But if you’re an everyday homeowner? Not so much. However, that’s not a bad thing, since you’ll be able to write off charitable donations and other itemized deductions at the state level, when it won’t be worth it for you to do so with the feds.

    • Jake formerly of the LP says:

      “Tax Scam”, that is.

      Also, let’s see if there’s any changes to Wis tax law now that fewer people will write off their property taxes and state income taxes.

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