- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How's the new tax laws treating you?
Posted on 1/30/19 at 11:34 am to Flanders
Posted on 1/30/19 at 11:34 am to Flanders
quote:
First time I've ever owed the federal govt. Not cool
Did you have more money in your check during the year? Did you pay less taxes in 2018?
JUST BECAUSE YOU GET LESS BACK OR HAVE TO PAY DOENST MEAN shite!!
0
Posted on 1/30/19 at 11:39 am to Mingo Was His NameO
quote:
That doesnt really mean anything. You need to look at your liability and effective rate compared to last year. It's very possible you just didn't have as much withheld therefore didn't get as much back
I’m amazed at how many people don’t realize this. I’ve seen and heard a lot of people bitch because they aren’t getting as much back or have to pay.
Posted on 1/30/19 at 11:50 am to JOJO Hammer
The difference for me and my wife has been pretty drastic. Effective federal tax rate of over 19% last tax filing. For 2018 tax year, it was around 16%. Had a bit more taxable income in 2018 vs. 2017, as well.
This post was edited on 1/30/19 at 6:27 pm
Posted on 1/30/19 at 12:36 pm to Puffoluffagus
This is the first year we haven't owed the Feds in quite some time.
Posted on 1/30/19 at 1:00 pm to Puffoluffagus
quote:
How's the new tax laws treating you? by Puffoluffagus
Great!
Over the years I had to itemize to max out my return and was worried about mileage. but took the standard deduction, got a less back but kept more of my check over the year so win win
Posted on 1/30/19 at 4:06 pm to Puffoluffagus
Getting back $3400 or so, but we had our first kid in 2018.
Posted on 2/3/19 at 5:18 pm to Puffoluffagus
The elimination of individual exemptions and capping SALT deductions at $10k has my effective tax rate increasing by about 1.5%. We’ve always itemized and will again this year so the standard deduction increase didn’t do anything to help us.
Posted on 2/3/19 at 9:05 pm to Puffoluffagus
Withheld extra $3,600
Owe $2,300 more
Law is terrible in me
Owe $2,300 more
Law is terrible in me
Posted on 2/3/19 at 9:10 pm to thelawnwranglers
My household made $10k more than 17. We owed about $1800 less in taxes.
Posted on 2/4/19 at 7:34 am to Puffoluffagus
first time in forever i took standard deduction, and i got back more this year then last with making the same.
Even had enough medical to write off this year, but couldn't use it. didnt have enough work expenses, mortgage interest, property taxes, charitable donations combined to beat the standard deduction. Knowing this, next year should take less then an hour to do my taxes.
called HR this morning to lower my federal withholdings to correspond with the lower taxes...hate giving Washington an interest free loan for the year
Even had enough medical to write off this year, but couldn't use it. didnt have enough work expenses, mortgage interest, property taxes, charitable donations combined to beat the standard deduction. Knowing this, next year should take less then an hour to do my taxes.
called HR this morning to lower my federal withholdings to correspond with the lower taxes...hate giving Washington an interest free loan for the year
Posted on 2/4/19 at 8:27 am to tigeraddict
Household made approx. $20K more in 2018, but paid approx. $1,000 less in taxes as a whole. WIN!
Higher standard deduction, higher child credit, and low state property taxes were the driver for us.
Higher standard deduction, higher child credit, and low state property taxes were the driver for us.
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News