Did my 2018 taxes last night...

Discussion in 'The Dungeon' started by wood600rr, Jan 29, 2019.

  1. GRH

    GRH Well-Known Member

    It's not my world so I don't claim to know anything about it, she's been doing it forever so I can only surmise that maybe it was a timing thing. She may have been talking about when people were coming in to do their 2017 taxes and what recommendations make for the following year. I don't know, I only see her once a year and get no correspondence between visits.
     
  2. Clay

    Clay Well-Known Member

    I keep it simple and use TurboTax. 1 hour, 80 bucks, and I'm done. :D
     
  3. Jedb

    Jedb Professional Novice :-)

    No, my tax witholding was $300 more than last year.
    I now owe an additional $400.

    Essentially a net negative of $2,200 compared to last year at the federal level.
     
  4. Mongo

    Mongo Administrator

    Okay, you're using too many goofy numbers and comparing different stuff to other different stuff, I'm out before I get a headache trying to figure it out :D
     
  5. thrak410

    thrak410 My member is well known

    That doesnt make sense. The witholding should've gone down, not been more than last year.

    I can see where the standard deduction can change things though, it was difficult for us to get over the $24,000 standard deduction this year to make itemizing attractive.

    Dependents also changed, do you have any kids?
     
  6. Jedb

    Jedb Professional Novice :-)

    Single, no kids.
     
    Kolbe likes this.
  7. Jedb

    Jedb Professional Novice :-)

    Winner by TKO!!!
    :D
     
  8. Phl218

    Phl218 Lemme ask my wife

    Pretty close return to last year.
    1 wife, 1 kid, 1 house.
     
  9. TXFZ1

    TXFZ1 Well-Known Member

  10. In Your Corner

    In Your Corner It's a little-known fact...

    The average refund is just a useless statistic to judge the tax cut by.
     
    kangasj likes this.
  11. Fonda Dix

    Fonda Dix Well-Known Member

    The refund is a measure of how fucking stupid taxpayers are, nothing more.
     
    kangasj and D-Zum like this.
  12. ChemGuy

    ChemGuy Harden The F%@# Up!

    Dont worry...ill help the nationwide average when I actually file mine....12K back from the feds. Trying to figure some shit out about how to credit my non-resident IN COUNTY INCOME TAX (whoever heard of counties having income tax) against my MI state return. If I can credit the full amount that will give me a couple grand back on state my current $4 return.

    And yes i know its my money...why loan it to the goverment....the bulk of my pay is commission/bonus and comes in 1 check a month (or once a year). Since its once and large amounts they withhold a shitload. I havent messed with the numbers too much since I know ill get it back come the end of the year. Its like savings I know is there but cant spend.
     
  13. Fuzzy317

    Fuzzy317 a Crash Truck near you

    I did mine a few hours ago, getting back a small amount (+15%) more on Fed than last year, and getting back about double the amount from the State than last year.
    Total is still under 1K
     
  14. Newsshooter

    Newsshooter Well-Known Member

    No refund, but I haven't gotten one for a few years and I claim single, no dependents, even though I'm married, I also have extra taken each check, made a little more this year, paid more too. :)
     
  15. TWF2

    TWF2 2 heads are better than 1

    Not always. Some people don't work for hourly or weekly wages.
     
  16. Fonda Dix

    Fonda Dix Well-Known Member

    I work for straight commission, no “wages”

    Not sure I understand your post

    My point is if you are getting a large refund you might be doing it wrong by loaning the gov your money at 0%
     
  17. TWF2

    TWF2 2 heads are better than 1

    Pass through businesses.
     
  18. jrsamples

    jrsamples Banned

    Timely post!
    One of my accountants gave me a 2 minute run down on the 20% deduction applicable to certain pass through situation. Said that they did not get the final rules until about January. He and others spent 4 days going over all of the overly complicated rules for the deduction. He said that there were going to be a lot of people in trouble with just that one thing because there would be a lot of mistakes.

    So much for a more simple tax code. He then told me that, for most of the clients, they were using more time to complete the returns. I told him tough shit, I expect a 20% reduction in his bill since I can't write off the expense of paying him anymore.
     
  19. TWF2

    TWF2 2 heads are better than 1

    I got book of paperwork from my tax man :).
    Add to that my wife on salary and bonus that very a lot from year to year but taxed at 30% which is not our bracket. Trying to constantly figure how much to pay to come even is not worth it effort.
    Easier to pay little more and get back vacation money :)
     
    Phl218 likes this.
  20. TWF2

    TWF2 2 heads are better than 1

    And we are paying less than last year so tax change was positive for us.
     

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