Title says it all. How are you doing compared to last year? Mine went up about $400ish.
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-- Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past me I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain. --
Posts: 17277 | Location: New Mexico | Registered: October 14, 2005
Ours went down on similar income but we benefited from the increase in the stardard deduction. Last year itemization was better for us but no longer the case.
My taxes went down because my income went down as well, but because I worked less, because I didn't want to or need to work.
NRA Life member NRA Certified Instructor "Our duty is to serve the mission, and if we're not doing that, then we have no right to call what we do service" Marcus Luttrell
My taxes went up, but you won't hear me boo. It's simply the price my family pays for not having Hillary as president. I will pay a bit more to keep more of my freedoms.
Posts: 781 | Location: KC Metro MO | Registered: November 23, 2005
My income increased but I still pulled down a refund, though it was less than the previous year. I don’t declare zero.
"I'm yet another resource-consuming kid in an overpopulated planet raised to an alarming extent by Hollywood and Madison Avenue, poised with my cynical and alienated peers to take over the world when you're old and weak!" - Calvin, "Calvin & Hobbes"
Posts: 18023 | Location: Sonoma County, CA | Registered: April 09, 2004
Mine increased as a %, but mostly because I didn't have education credits and such this year. Having to pay a bit more now because the recent idiot company my wife worked for didn't manage to take out the right amount of money.
For those saying their refund was less/more, shouldn't this be a comparison of year-to-year tax percentage paid? Total paid/refund is fungible based on income level variations and withholding changes. No?
Mkay, this is usable for comparison purposes, kind of...
quote:
My effective tax rate went down about 1.5%. I'll take it.
I believe overall the new standard deduction helped me, but the bigger benefit was the change in the AMT rules - not paying that!
My effective tax rate dropped 4%.This message has been edited. Last edited by: 229DAK,
_________________________________________________________________________ “A man’s treatment of a dog is no indication of the man’s nature, but his treatment of a cat is. It is the crucial test. None but the humane treat a cat well.” -- Mark Twain, 1902
Posts: 9039 | Location: Northern Virginia | Registered: November 04, 2005
For me, itemizing still comes out best, but the difference is narrowing. The bastards put a cap on how much interest and local taxes you can itemize, and that combined with the decrease in withholding rates moved me from getting a few hundred back last year to having to shell out a grand this year. Methinks I'm gonna have to submit a new W4.
Posts: 7267 | Location: Idaho | Registered: February 12, 2007
Refunds don’t matter for this question. Look at total federal taxes paid after refund or payment and compare that. I saved $4000. Got the full child tax credit for one kid (which I made too much for prior to Trump changes) plus the increased standard deduction. I’m pretty happy.
These go to eleven.
Posts: 12436 | Location: Westminster, MA | Registered: November 14, 2006
I'm talking about how much money you PAID to the feds.
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-- Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past me I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain. --
Posts: 17277 | Location: New Mexico | Registered: October 14, 2005
When have taxes paid ever come down? I must have missed it. Especially in a blue state. It's not a matter of going up. It's only a matter of how much this year.
"Wrong does not cease to be wrong because the majority share in it." L.Tolstoy "A government is just a body of people, usually, notably, ungoverned." Shepherd Book
Posts: 12719 | Location: In the gilded cage | Registered: December 09, 2007
When have taxes paid ever come down? I must have missed it. Especially in a blue state. It's not a matter of going up. It's only a matter of how much this year.
You must have not done your taxes yet. Federal doesn’t matter what state you live in. As I said I saved 4K thanks to Trump.
These go to eleven.
Posts: 12436 | Location: Westminster, MA | Registered: November 14, 2006
