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re: Anyone else see a big difference in tax returns this year?
Posted on 2/5/19 at 9:41 pm to JudgeHolden
Posted on 2/5/19 at 9:41 pm to JudgeHolden
quote:
The SALT limit is gonna hurt.
It is killing us. C'set la vie.
Posted on 2/5/19 at 9:41 pm to JudgeHolden
People lie on the internet and aren’t smart enough to realize it’s easy to figure out
Posted on 2/5/19 at 9:42 pm to MontyFranklyn
First year we are getting a little back in 7 or 8 years. We usually owe.
Posted on 2/5/19 at 9:46 pm to fallguy_1978
I was able to attribute my change to a couple of things besides the obvious tax changes.
We made more in 2018 than 2017(husband got a 15% raise)
He sold more in stock options in 2018 than 2017
Past couple years I was able to deduct tuition costs from going back to school.
We made more in 2018 than 2017(husband got a 15% raise)
He sold more in stock options in 2018 than 2017
Past couple years I was able to deduct tuition costs from going back to school.
Posted on 2/5/19 at 9:49 pm to lsunurse
quote:
He must be thinking of EVERYTHING taken out of his check. Federal, state, etc.
Based on Georgia state tax rates, a single person with no dependents making $60k/yr has a taxable income of $48k with roughly $18k going to federal, state, and FICA.
Still waaayyy too much for a person only making $60k.
Posted on 2/5/19 at 9:49 pm to lsunurse
I try to get ours around $0 for federal. We usually get a refund from state.
I think we owed about 1k or $1500 the past 7 or 8 years.
We are getting a refund this year from both. We made more money last year but doubling the standard deduction and child tax credit helped us.
I think we owed about 1k or $1500 the past 7 or 8 years.
We are getting a refund this year from both. We made more money last year but doubling the standard deduction and child tax credit helped us.
This post was edited on 2/5/19 at 9:51 pm
Posted on 2/5/19 at 9:56 pm to fallguy_1978
I did much better this year, tax liability was much lower
I don't owe this year... 
Posted on 2/5/19 at 9:57 pm to RogerTheShrubber
Yeah it's nice not to owe. I went back and double checked mine 
This post was edited on 2/5/19 at 9:57 pm
Posted on 2/5/19 at 10:00 pm to mmmmmbeeer
quote:You didn't hear Gov. Coumo of NY yesterday did you? He admitted the top 31% of earners in NY pay more than 48% of the total taxes in NY. The rich are paying MORE than their share, 17% more.
No, you subsidized much larger tax cuts for folks who make millions of dollars per year. Oh, and corporations.
Don't worry, we've been hearing for 39 years that that money you're giving to the rich will eventually trickle back down...I'm sure it will happen any year now. Be a little more patient.
He also admitted the high taxation is driving the high earners out of the state too. And when a high earner leaves it is much more harmful to the taxbase than any others leaving.
Posted on 2/5/19 at 10:00 pm to lsunurse
quote:
We normally get some money back from federal and state. Have owed in the past and would rather they take out more and get a small refund. This year we owe for federal and are getting a much smaller refund from our state. But at least the refund will cover our federal tax bill and still leave us $500. I was a little bummed. Was expecting our usual refund and was gonna pay off some debts with it.
There is so much wrong with this, poor girl
Posted on 2/5/19 at 10:01 pm to fallguy_1978
So upper middle and middle class folks with kids are getting more back? Weird, nobody predicted that.
Is this where I bring up 2023
Is this where I bring up 2023
Posted on 2/5/19 at 10:03 pm to fallguy_1978
I normally do a midyear check of my tax situation. At that point I can increase my savings to reduce taxable income (more in HSA, 401k, etc). Or worst case, I let them take out more per check to even out. I can normally get my state within $50 and federal a few hundred.
If you do this annually, you can make your tax season way less stressful.
If you do this annually, you can make your tax season way less stressful.
This post was edited on 2/5/19 at 10:04 pm
Posted on 2/5/19 at 10:16 pm to bee Rye
quote:
There is so much wrong with this, poor girl
What, you gonna tell about all the tens of dollars I could have made in interest on the refund we usually get since we’ve been married?
I’m horrible at saving money. I’ve owed $$$$ to the IRS before cause of not withholding enough and it sucked. I would just rather get the lump amount every February and stick it in our savings or pay off debts. It’s not like I go on shopping sprees with our tax refunds.
But yes....I do know I haven’t been cheated. I made more money and paid less in taxes in 2018. I’m happy about that. I have medical bills I was gonna throw that refund at, so I couldn’t help but be a little bummed when that didn’t happen.
Posted on 2/5/19 at 10:18 pm to JudgeHolden
There’s zero chance he paid 18k in federal taxes.
I made more than that and didn’t pay that much
I made more than that and didn’t pay that much
Posted on 2/5/19 at 10:19 pm to hashtag
quote:
I normally do a midyear check of my tax situation
We just have a lot more write offs at the state level (private school, aftercare, summer camps etc). I could change our withholdings but I just haven't bothered the past 7 or 8 years
Posted on 2/5/19 at 10:20 pm to Sun God
quote:
So upper middle and middle class folks with kids are getting more back? Weird, nobody predicted that.
Yep. But it only helped the rich and businesses according to Dems.
Posted on 2/5/19 at 10:22 pm to fallguy_1978
All you faqbutts make fun of my bazillion kids. The kid credit went up. Woo bigger fed return this year! Suck it, kidless(on purpose) fricks.
Now let me go back to paying 3k a month for them shitbiscuits.
Now let me go back to paying 3k a month for them shitbiscuits.
This post was edited on 2/5/19 at 10:26 pm
Posted on 2/5/19 at 10:24 pm to Codythetiger
quote:
making right at 60k in a small town... i can't believe i paid like 18k in taxes...
You're paying taxes wrong.
Posted on 2/5/19 at 10:27 pm to mikelbr
Sounds like a net negative there Mikee 
Posted on 2/5/19 at 10:28 pm to 50_Tiger
Yea I started the sentence bragging and ended up sobbing. 
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