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Tax time! How did your taxes go this year?

Middle_Ground said:
Rich liberals? Really that's what you think?
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You're kidding, right? It is the high tax liberal blue states that are complaining that they got their SALTs capped. Do you think these people care about rich Republicans?
 
Carleen said:
How will retirees be affected if at all?
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What? Tax rates are lower, standard deductions have increased. Married retirees will have a standard deduction of $24000, almost double last year. In most cases, that is far better than itemizing. Why would you even ask such a ridiculous question?
 
Moderate Right said:
What? Tax rates are lower, standard deductions have increased. Married retirees will have a standard deduction of $24000, almost double last year. In most cases, that is far better than itemizing. Why would you even ask such a ridiculous question?
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Because I am a retiree and a widow. Why is that a ridiculous question?
 
Carleen said:
Because I am a retiree and a widow. Why is that a ridiculous question?
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You get and added $1300 if your over 65. So its 25,300 or 19,300. But they took away a bunch of other stuff so of course it all depends where you live.
 
Carleen said:
Because I am a retiree and a widow. Why is that a ridiculous question?
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It is a ridiculous question because you are a liberal who is always taking pot shots at Republicans, as with their tax plan, and yet you apparently don't have a clue what is in the tax plan. Are you really that uniformed?
 
Moderate Right said:
It is a ridiculous question because you are a liberal who is always taking pot shots at Republicans, as with their tax plan, and yet you apparently don't have a clue what is in the tax plan. Are you really that uniformed?
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I took no shots at the Trump tax plan here because I have not followed what has been going on, so please exclude me from your comment about pot shots just because I identify as a liberal.
 
Threegoofs said:
Its about tax time and I ran some preliminary numbers (all the documents aren't quite ready yet).

I thought that given my situation, with a very good income, I'd do pretty well with taxes this year - even figuring for a significant refund. Heck- the AMT has been slamming me for years, and that was supposed to be significantly changed.

Well... it looks like my taxes really haven't changed too much at all. In fact, chances are I'll end up owing a few grand instead of getting a couple grand back, with an overall pretty hefty tax rate that seems not much different from last year in terms of effective rate.

But we know this tax 'cut' favors wealthier people, and I kinda was hoping I might qualify as one of those... but nope. Instead of being pleasantly surprised, I'm basically in a worse spot, if anything, since my state income tax and property tax exceeds the SALT thresholds. Thanks, asshole GOPers.

Given the amount of tax revenue shortfall, this tax bill really seems to be really benefiting the very, very high earners.

Whats the story with all of your taxes? Am I an outlier here?
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Ahead by more than $7000 in taxes paid , compared to before cut...looks to be. Possibly more.
 
Carleen said:
I took no shots at the Trump tax plan here because I have not followed what has been going on, so please exclude me from your comment about pot shots just because I identify as a liberal.
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Liberals are the ones whining on here.

They are all about increasing taxes until they don't get a return that pays for their X-Boxes and I phones.

Phony bastards.
 
RetiredUSN said:
Liberals are the ones whining on here.

They are all about increasing taxes until they don't get a return that pays for their X-Boxes and I phones.

Phony bastards.
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Republicans used to be conservatives when it came to spending, Phonies!!!
 
Winston said:
I have my W-2's just waiting for a 1099. I should be able to deduct all the records I've purchased so, I suspect it will come down to the 20 grand or so, I made as a cook. Would be nice to get some money back, but, I'm not holding my breath. The GOP hates working people. Can't ever lose sight of that.
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It is not how much you earn but how much you keep and invest. If you spend it all you'll never be better off no matter what you make.

Sent from my SM-G892A using Tapatalk
 
RetiredUSN said:
As I have said... you liberals love taxation until hit slaps you on side the head.
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And as I said Republicans only want to not spend money is when Dems are in office.
 
Carleen said:
And as I said Republicans only want to not spend money is when Dems are in office.
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No that's not true they wanna spend just on bull****....they don't want to spend on things that will actually help the average American. Throw 5bil on defense another couple bil to put wire up on a fence another couple bill to investigate things that are already proven to be false, couple bil to farmers they hurt, couple more bil for coal workers support. But oh no we cant do anything about healthcare or infrastructure.
 
Threegoofs said:
Its about tax time and I ran some preliminary numbers (all the documents aren't quite ready yet).

I thought that given my situation, with a very good income, I'd do pretty well with taxes this year - even figuring for a significant refund. Heck- the AMT has been slamming me for years, and that was supposed to be significantly changed.

Well... it looks like my taxes really haven't changed too much at all. In fact, chances are I'll end up owing a few grand instead of getting a couple grand back, with an overall pretty hefty tax rate that seems not much different from last year in terms of effective rate.

But we know this tax 'cut' favors wealthier people, and I kinda was hoping I might qualify as one of those... but nope. Instead of being pleasantly surprised, I'm basically in a worse spot, if anything, since my state income tax and property tax exceeds the SALT thresholds. Thanks, asshole GOPers.

Given the amount of tax revenue shortfall, this tax bill really seems to be really benefiting the very, very high earners.

Whats the story with all of your taxes? Am I an outlier here?
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I did pretty well. In addition to the 50 extra in my paycheck during the year, I still got a couple of thousand back. SALT doesn't effect me since my itemized wouldn't reach the 10k cap, and with the larger standard deduction, I made out better than itemizing.
 
RetiredUSN said:
As I have said... you liberals love taxation until hit slaps you on side the head.
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Even if we took conservatives at face value about taxes, it has been shown time and again who exactly the conservative politicians are looking out for. They aren't looking out for the average person. They are looking out for the donor class, nothing more. Case in point...they wrote a tax bill that lowers taxes for the rich PERMANENTLY, but lets the minor break for the middle and lower classes sunset. You know why? Because even THEY know the truth about lowering taxes not increasing revenue generation, and they eventually have to get that money back from someone, so they chose rather than ruffle the feathers of the people they are indebted to, they would just foist in on the backs of lower classes again.

Kudos for getting people to vote against thier owned best interests.
 
Because of the new tax law that gave away $1.5 trillion dollars -- tax refund checks are going to be down 8.7% compared to last year.
 
Atheist 2020 said:
Because of the new tax law that gave away $1.5 trillion dollars -- tax refund checks are going to be down 8.7% compared to last year.
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People who don't work will get less free money. So?
 
Lutherf said:
Had a client in yesterday who owed for the first time ever.

He actually ended up paying roughly $5k less in tax but his withholding was less by $10k. It was a "win" for him but he just didn't feel that way.
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That kind of financial acumen amazes me. People look at excessive withholding, which is an interest free loan to the government, as their savings account.
 
apdst said:
People who don't work will get less free money. So?
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Your the reason why one of the reasons I am a atheist. I lived in a number of states and cities during my lifetime. One, was Grand Rapids Michigan were the major religion of the community was Calvinism. You should study John Calvin, and you really understand all the major religions about it. Under Calvinism you have to prove to yourself you are one of the elect that will go to heaven. If you are on government handouts or you do not work so hard to pay taxes -- it looks like your not going to heaven. If you go to church on Sunday, you work hard to make money to pay taxes, and you raise a family -- you could be the elect that may go to heaven. God and taxes, if you pay taxes you might go to heaven, and if you do not pay taxes: it looks like your going to hell.
 
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