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Started By
Message
Tax bill reduction of $7800....????
Posted on 12/20/17 at 9:10 am
Posted on 12/20/17 at 9:10 am
I used the tax calculator that was posted on the OT Lounge message board and my savings came to $7800. This seems a bit high...how does it compare to yours?
29
Posted on 12/20/17 at 9:11 am to Tiger Lake
mines about 1400
Posted on 12/20/17 at 9:11 am to Tiger Lake
Mines about 1300.
Posted on 12/20/17 at 9:12 am to Tiger Lake
You complaining about keeping more of YOUR money?
Posted on 12/20/17 at 9:12 am to Tiger Lake
(no message)
This post was edited on 1/21/21 at 10:59 am
Posted on 12/20/17 at 9:14 am to tigerfootball10
quote:
You complaining about keeping more of YOUR money?
NO, the exact opposite. I think it's outright theft that the government takes so damn much of MY MONEY. I just hope the tax calculator is correct. Do the math....that's $650 dollars a month I get to save!!!...or use as I see fit!!
Posted on 12/20/17 at 9:16 am to Tiger Lake
That’s awesome! I haven’t figured mine out yet. I am trying to decide the best way to do it.
Posted on 12/20/17 at 9:19 am to Tiger Lake
quote:
I used the tax calculator that was posted on the OT Lounge message board and my savings came to $7800. This seems a bit high...how does it compare to yours?
Mine is about 2500
Posted on 12/20/17 at 9:21 am to Tiger Lake
Somewhere between 4500 and 7000. I'm not sure what our final income or deduction total will be.
Posted on 12/20/17 at 9:23 am to Tiger Lake
2400
Posted on 12/20/17 at 9:24 am to Tiger Lake
Ours is between 3600 and 7500 or so. Will be filing jointly for the first time, so that's part of the uncertainty.
Posted on 12/20/17 at 9:26 am to Tiger Lake
Can I get a link to the calculator?
Posted on 12/20/17 at 9:27 am to Tiger Lake
I am a partner at a firm, so my corporate taxes are a separate issue.
But for my income taxes, I have done a complete comparison.
Family of 4, one 14yo, one 17yo, and should gross about $298k between me and my wife, so married filing jointly. I have about $6k in property taxes and around $14,800 in SALT. I also had about $18,000 in other itemized deductions last year and will probably have around that again this year.
If I itemize, I still have a savings of $3,919.
If I use the standard deduction, I have a savings of $11,458.
Not only am I very happy that i'll have around $954 extra dollars per month in my pocket, but I'm beyond excited that I don't have to waste my time gathering up all the shite my accountant usually needs to itemize my taxes.
But for my income taxes, I have done a complete comparison.
Family of 4, one 14yo, one 17yo, and should gross about $298k between me and my wife, so married filing jointly. I have about $6k in property taxes and around $14,800 in SALT. I also had about $18,000 in other itemized deductions last year and will probably have around that again this year.
If I itemize, I still have a savings of $3,919.
If I use the standard deduction, I have a savings of $11,458.
Not only am I very happy that i'll have around $954 extra dollars per month in my pocket, but I'm beyond excited that I don't have to waste my time gathering up all the shite my accountant usually needs to itemize my taxes.
This post was edited on 12/20/17 at 9:34 am
Posted on 12/20/17 at 9:28 am to Tiger Lake
What calculator did you use?
Posted on 12/20/17 at 9:29 am to Tiger Lake
Like $3500 ish.
I'll spend it on women and alcohol.
I'll spend it on women and alcohol.
Posted on 12/20/17 at 9:41 am to IAmReality
Mine was + 19,200, now I have 3 kids, but that’s amazing, if true...
Posted on 12/20/17 at 9:42 am to Tiger Lake
We save $2800 a year on taxes 
Posted on 12/20/17 at 9:46 am to Tiger Lake
$4900
Posted on 12/20/17 at 9:49 am to Tiger Lake
$3700 for me. Merry Christmas baw. All hail Kekes chosen one, the GEOTUS.
Posted on 12/20/17 at 9:51 am to Tiger Lake
quote:
NO, the exact opposite. I think it's outright theft that the government takes so damn much of MY MONEY. I just hope the tax calculator is correct. Do the math....that's $650 dollars a month I get to save!!!...or use as I see fit!!
They literally show you the math on the calculator.
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