Not ashamed to share my basic financials, married, no kids, own a home, one W-2 for each of us, she's a part-time student. Last year, almost the same income (I'm salary plus commission)...paid in $19k in taxes combined, refund was $5k This year, paid in 19k again (on $10k more income, meaning I took home more on every check), refund...$9,500! Standard deduction married filing jointly is now $24,000... Thanks Trump!!!!
I was under the impression for those in a situation similar to yours, would get a smaller return. Guess you don't really know until you do it.
That's awesome dude. Trump's approval rating may be climbing a bit between now and April 15th as more people figure this out.... I'd be happy just to hold my own as I've paid off my accounts that had interest deductions...
Me too getting back a $1000 more then last year. But I’m sure it’s just peanuts to Pelosi and I should just give it to the government.
Running my numbers my tax rate ends up being .40% lower this year. My refund will be about a 1/3 of last year, so I guess closer to 0 for a change is a good thing.
I did a quick calc last week, looks like we'll be paying more than last year, I have extra taken out each check and we made less too.
I have not finished mine yet but at the moment it is looking like I will be getting less back this year with most things being the same but not a huge swing in either direction really. Kind of shocking given that the standard deduction for married joint went up so much and little else changed in my taxes.
yes, for me personally and my statement, I meant that more as given the deduction was much greater and I didn't adjust my withhold between 17 and 18 I did not expect the result.
Let's see... My take-home pay increased by almost $100 per paycheck last year after the tax reform but it looks like I'm getting about $800 less this year on my tax return. I'm actually okay with that. The math seems simple enough.
I don't mind a large refund, it's like forced savings and comes at a good time every year. I have other investments that bear interest but if I got more on my checks and no refund I'd blow the money during the year.
Long story short...we came out ahead of last year. It might be fun digging up all the TDS folk's posts here saying we were foolish for thinking we were going to do better with the Trump tax credit.