Chef Jim Posted April 16, 2019 Share Posted April 16, 2019 I put mine aside for the retirement home we’re looking to buy in the next year or so. What did you all do with yours? 2 Link to comment Share on other sites More sharing options...
bdutton Posted April 16, 2019 Share Posted April 16, 2019 I paid slightly less in taxes this year than I did last year... despite both me and my wife claiming single-0 withholding. Link to comment Share on other sites More sharing options...
Tiberius Posted April 16, 2019 Share Posted April 16, 2019 As always I tossed it right into my Roth IRA 1 Link to comment Share on other sites More sharing options...
DC Tom Posted April 16, 2019 Share Posted April 16, 2019 Upgraded my internet connection so I can call people idiots that much faster. 2 3 Link to comment Share on other sites More sharing options...
3rdnlng Posted April 16, 2019 Share Posted April 16, 2019 5 minutes ago, bdutton said: I paid slightly less in taxes this year than I did last year... despite both me and my wife claiming single-0 withholding. What you paid in taxes has no relation to what your refund was. What you claimed as deductions at the beginning of the year has no bearing as to what you will eventually pay. Yes, it affects your refund, but only in the sense of how you received your income throughout the year. Too many people are fooled regarding the significance of their refund which is basically the withdrawing of funds that you've lent the government during the year. Link to comment Share on other sites More sharing options...
bdutton Posted April 16, 2019 Share Posted April 16, 2019 1 minute ago, 3rdnlng said: What you paid in taxes has no relation to what your refund was. What you claimed as deductions at the beginning of the year has no bearing as to what you will eventually pay. Yes, it affects your refund, but only in the sense of how you received your income throughout the year. Too many people are fooled regarding the significance of their refund which is basically the withdrawing of funds that you've lent the government during the year. I think you missed my point. Despite giving the government as much as they were able to take out of my paycheck every two weeks, I had to pay more when I filed this year. Only I paid slight less than when I filed last year. Link to comment Share on other sites More sharing options...
3rdnlng Posted April 16, 2019 Share Posted April 16, 2019 3 minutes ago, bdutton said: I think you missed my point. Despite giving the government as much as they were able to take out of my paycheck every two weeks, I had to pay more when I filed this year. Only I paid slight less than when I filed last year. Again, what matters is what you paid in totality, not what you had to cough up when you filed. My guess is that you live in a high tax state and have few deductions. Also, you and your wife are probably high earners. Link to comment Share on other sites More sharing options...
bdutton Posted April 16, 2019 Share Posted April 16, 2019 New Hampshire. No income tax. High property tax (which is a deductible). Children are too old to count as as dependents too. Link to comment Share on other sites More sharing options...
Hapless Bills Fan Posted April 16, 2019 Share Posted April 16, 2019 34 minutes ago, Chef Jim said: I put mine aside for the retirement home we’re looking to buy in the next year or so. What did you all do with yours? What tax cut? 1 Link to comment Share on other sites More sharing options...
Tiberius Posted April 16, 2019 Share Posted April 16, 2019 2 minutes ago, 3rdnlng said: Again, what matters is what you paid in totality, not what you had to cough up when you filed. My guess is that you live in a high tax state and have few deductions. Also, you and your wife are probably high earners. You probably don't have a job Link to comment Share on other sites More sharing options...
3rdnlng Posted April 16, 2019 Share Posted April 16, 2019 2 minutes ago, Tiberius said: You probably don't have a job Well, if I don't have a job I can always go and get one. You on the other hand, can't just go out and find a brain. Link to comment Share on other sites More sharing options...
GG Posted April 16, 2019 Share Posted April 16, 2019 I'm in the deepest of blue. I got the opposite of a tax cut. 2 Link to comment Share on other sites More sharing options...
Koko78 Posted April 16, 2019 Share Posted April 16, 2019 I actually got a federal refund this year, for the first time in over a decade. Of course, after paying H&R Block to do my taxes (I did not want to try to figure out the new tax rules on my own), and paying NYS, I think I wound up a whopping $20 in the hole. Far better than the thousands I would have to pay in previous years, because my employer would never deduct the correct ***** amount out of my W-2 pay. Anyhow, I wound up paying ~3% less tax rate on a lesser adjusted gross income due to the tax reduction and doubling of the standard deduction, along with now being able to automatically deduct 20% of my Schedule C income. Life is good. Link to comment Share on other sites More sharing options...
Chef Jim Posted April 16, 2019 Author Share Posted April 16, 2019 28 minutes ago, Hapless Bills Fan said: What tax cut? The one that a vast majority of Americans got. Thank you Donald Trump! 19 minutes ago, GG said: I'm in the deepest of blue. I got the opposite of a tax cut. Maybe I should have clarified. I meant your likely federal tax cut. Link to comment Share on other sites More sharing options...
keepthefaith Posted April 16, 2019 Share Posted April 16, 2019 (edited) Income went up, tax bill increased less. SALT cap got us some but Illinois is one of those targeted blue states so the laugh at all the lefties bitchin' is worth something. State taxes here rose in 2017 and likely will rise again possibly even this year retroactively. Oh and the tax return set a new record for pages this year at 111 detroying the old record of 90-something with no changes to our tax status or business activity. Edited April 16, 2019 by keepthefaith Link to comment Share on other sites More sharing options...
Tiberius Posted April 16, 2019 Share Posted April 16, 2019 Quote 39% of Americans approve of tax overhaul; 46% disapprove 64% say they have not seen an increase in their take-home pay 51% say cuts haven't helped financially; 38% say they have https://news.gallup.com/poll/243611/disapprove-approve-2017-tax-cuts.aspx I guess the reason he is scapegoating immigrants is because he ain't got nothing to brag about Link to comment Share on other sites More sharing options...
Deranged Rhino Posted April 16, 2019 Share Posted April 16, 2019 4 minutes ago, Tiberius said: https://news.gallup.com/poll/243611/disapprove-approve-2017-tax-cuts.aspx I guess the reason he is scapegoating immigrants is because he ain't got nothing to brag about All those numbers show is that: a) Most Americans do not understand what a "refund" is. and b) The enormous power/persuasiveness of the MSM to spread incorrect/false information as fact - something they've done about this tax cut since day one in both left leaning media companies and never Trump media circles (which is 95% of the total media complex). Link to comment Share on other sites More sharing options...
Tiberius Posted April 16, 2019 Share Posted April 16, 2019 1 minute ago, Deranged Rhino said: All those numbers show is that: a) Most Americans do not understand what a "refund" is. and b) The enormous power/persuasiveness of the MSM to spread incorrect/false information as fact - something they've done about this tax cut since day one in both left leaning media companies and never Trump media circles (which is 95% of the total media complex). They would know if they got a decent tax return. George W. Bush made sure they knew. The MSM never really got to get into the tax law, as the GOP did not even try and defend it in the last election. They still lost 40 seats. Most American knew this was mostly about getting the wealthy a huge tax break. The right wing media is VERY influnencial and could have tried promoting this monster, but didn't really try. Link to comment Share on other sites More sharing options...
Deranged Rhino Posted April 16, 2019 Share Posted April 16, 2019 Link to comment Share on other sites More sharing options...
Uncle Joe Posted April 16, 2019 Share Posted April 16, 2019 2018 was a transitional year into retirement so not a fair comparison to 2018 for me from 2017. Owed Feds and got a State refund - basically a wash. Feds tax most everything including SSI. Oregon is not one of the 13 states that tax SSI. Link to comment Share on other sites More sharing options...
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