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.
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.
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
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?
Feb results, avg refund is 40 dollars more but the total refunds is down ~4% from last year. https://www.irs.gov/newsroom/filing-season-statistics-for-week-ending-february-22-2019
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.
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
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.
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%
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.
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