Discussion in 'The Dungeon' started by wood600rr, Jan 29, 2019.
Made more in 18, got more back than for 17
Would have been less but got more for having a kid
Taking all our stuff to the accountant Friday evening, should have the results in a week. We'll see if it's good news.
I used to work as a contractor for Pro Series and did mine quarterly, you can still do it and get close to a wash at the end of the year.
Getting back more isn't a measurement of success, nor is it a measurement of the effects of the tax law changes.
But it is an indication of the terrible lack of financial knowledge on the part of the general population. Even the ones who say it's a way of forced savings...lord, just how stupid (or lazy) can you get. What's even worse is the government won't send out refunds until after 2/15...even if you submit early. That way they get to keep your money for a few weeks longer. May not seem like much when you're talking about a thousand bucks but when you multiply that out it could easily amount to many millions in interest.
Ya, no shit. I take the interest-free loan every year and just give Sam $1200.ooish around April 15th...
owe about $5k this year
The property tax/state tax cap limits suck. swing of about $6k from last year.
Everything pretty much the same, except in 2017 tax year last year we moved from NY to NJ, so there was 1/2 residency in each state.
Talk about the frying pan or the fire.
Just got all of my stuff back. Paid $1,300 less total tax on approximately $15,000 more income than in 2017. Ended up cutting a check to the Feds for $38 so this was a pretty happy tax year for me!
Between '17 and '18 there were a lot of variables in AGI, section 179, etc. It is tough to tell from a glance. But from Kentucky windage, it seems that I'm paying about 15% less than what I would have under the 2017 system. Sending in an additional 8500 and 2500 state. Could have bought an MT-07 and new gear.
Paid $2500 last year, paying $5000 this year on pretty much the exact same income.
I got back a little less, income was slightly lower. The biggest factor was the dependent mini-blonde is now independent (more or less).
had to pay for the first time this year. Sux
I got back less, but my take-home was higher. Works for me.
I had to pay almost $600.
Be interesting to see how many said there take home went up that are now saying refund went down Effective rate is all that matters (mine stayed about the same but I had changes that should have made it rise)
Leftists have been highfiving each other for misleading the uninformed public about the tax cuts.
Obviously, Trump is aware of your political affiliation and is using the IRS to target you.
If your income and withholding stayed constant, yet your tax burden increased, I assume that you lost a credit or an exemption somewhere along the way?
Lots of exemptions went away.
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