Taxes

How did you good people fair out this yr with the new Taxass pounding.

we currently owe a couple grand, and for whatever reason inputing our interest and taxes from our mortgage didnt even tickle its pickle.

we normally break even or pay a smidge but this year is off the wall (or funding a wall) either way this is dumb.

we will be visiting a tax guy soon to double check our work and make sure we didnt mess something up.

 

roughly the same as last year. Do you have any kids ? seems that helped us where we couldn't claim other stuff.

 

Refund slightly larger. Many folks forget that their paychecks were larger...hence smaller refund. Brackets did change and caused some tax pain. A large refund isn't a great thing, just means that the feds used your $ for free the whole year. SUCKS worse to owe taxes in your case.

 

Not looking forward to this year. We usually overpay throughout the year and end up with a large refund. We'll see.

 

I didn’t realize they had reduced withholding throughout the year which is going to reduce most people’s refund. Ca taxes are so high we definitely got hosed a little by the 10k max deductions for state/local taxes

 

yep we have one and that helped but still puzzled with the house not doing anything. to be fair i did get a market adjustment raise last yr part way through the year and forgot to go over the deductions so perhaps thats causing it. i fixed it early this yr in case we have another adjustment.

 

Will find out soon.
I have a tax guy and just sent our expenses out, deductions for wife + Kids, mortgage interest. My work deducts at a std rate.
2k more, yikes!

 

Getting back half of what I got last year. As @Grey Wolf said, less was taken out of my paycheck so I got less on the refund. Do have to pay CO state taxes though

 

We owe under the new tax plan...

 

Got $89 back from fed, cost $95 to get taxes done. $6 in the hole. Even on state and local

 

I get to sleep with my tax lady, so no complaints here.

 

Is that like a sugar momma?

 

If you mean older woman who pays me for my body....yes.

 

This was the first year my wife has been self employed so I was scared, even with that we’re still getting back about $2000. Texas doesn’t have state income tax so we’re in the clear there. As long as I don’t have to pay in I count it as a win.

 

Couldn't take off PMI this year because Congress didn't renew the deduction, so took a ding there. The refund was less, but overall for the year I came out ahead of last year since my paychecks were more.

 

so do you end up having to pay her does she pay you?

 

Got money back, I have a sexy tax lady who know how to get it

 

I always end up in the hole.

 

hopefully the right hole.

 

#FAKETAXLADY #FAKEMAID

 

I take it back. I take this all back!

 

Yeah know it boy!

 

unless you have farm or business no sense in wasting money on tax guy. Taxes this year are toi simple. Either you have $20k in deductions (married couple) or you don't. Only real complications are $10k tax cap and mortgage interest cap. Next year I am doubling up on property tax payment and paying 13 months on mortgage. I will be just over standard deduction. Might get me a few hundred. Less I pay the uncle the better.

 

You have to look at the total tax due/paid box on your tax return form. That’s the real number you need to look at to know that you did get a tax break. Yes my refund was smaller this year, but I made 12k more in 2018 than 2017 and actually paid a little less according to the total tax box on my return. The problem is that we all had less taken out of our checks last year and that is why the refunds are smaller.

 

got hammered by this new ridiculous tax plan. went from getting back 5k to paying 4k.. what a joke

 

https://youtu.be/-zHVW7Zy_vg

 

true but the goal of the new tax plan was to leave us with a bit more money in the pocket. it if evens out between less tax monthly and less end of the year refund then we are back to Obama years as far as taxes.
what I know is my company made bigger profits but didn't really share it with us