p
Probably.
The refund did go down quite a bit.
Nope, taxes up $4,000.
Unless you’re a future taxpayer. Then you got debt.
I got back every bit that was withheld last year. The first time ever.
First, I have major issues relying on anyone who calls themselves “survey monkey” being an accurate pollster.
Secondly, more people would believe they got a tax cut if the leftist media didn’t inundate us with sob stories who often were too stupid to see the tax cut and instead bemoaned that Santa Government has left less of a refund under the tree.
I paid $100 more in taxes with my filing that last year but I also made $12,000 more in pay and my tax bracket climbed from 15% to 22%. So, without the tax cut surely I would have needed to cough up more than I did.
That’s okay. I intentionally set up my withholding so I am sending money in rather than allow Uncle Sam to keep an interest-free loan in my name.
If I wanted to go running and crying to the leftist media, I could claim I had to pay more than last year when someone with more than half a brain can figure out that I did much better this year than 2017.
I got a significant tax cut :-)
I probably did but screwed up big time. Kids all moved out and I forgot to adjust withholdings. Just wrote a big check to the Government.
I was very happy with how taxes went this year.
Made $2500 more than last year, and paid $320 less in taxes, so we are happy.
Our Fed income tax went down...my elderly Mom’s taxes went up...loss of personal exemptions ($8300.) plus large medical expenses (well over the new std. ded. of $24-$26K (Dad in a SNF). Her tax up about $1K.
I didn’t. I give a lot to charity and was not able to deduct 80% of it. So maybe less next year.
I just wrote a painful check to the IRS, but... my effective rate dropped from 21.51 last year to 18.0 this year. So, yes... I got a tax cut.
If I could designate which agency gets it, I’d feel a lot better about it.
My taxes stayed the same... In the long run I’ll pay less taxes due to the doubling of the standard deduction. Thank you President Trump!
LMAO.
Nope! I’m self employed in commiefornia.
Annoying!
Usually I aim for a tiny one but this year has been crammed full and evidently I fell down on the job.
It will not happen next year.
“Most of them don’t buy it.”
Because legacy media outlets like the NYT have been working overtime to convince people to believe just that.
It had to have been a mistake that this article got published.
I calculated what I paid before and after. My federal tax was ~.03% higher. I’m sure that I could have probably had a professional find some additional stuff - in the end though it was a wash for us tax RATE wise.
$ wise I paid more and I had to cut a check - but that was because my income was 10% higher than the prior year.
Next year I lose one of my daughters as a tax credit as she runs off into the great world on her own after graduating college. THAT will hurt as my rate will increase- but will be offset by less expense (tuition etc).
We got hit with a double whammy. First we pay a lot more than $10,000 in state taxes so were unable to deduct all the money we paid out in taxes. Then even though the standard deduction was nearly doubled, those who itemize lost their exemptions. So that increased our adjusted gross income by another $8,100. The only way we were able to partially equalize this was by increasing the amount of charitable giving to the absolute maximum which is half of your adjusted gross income. But we still had to send the IRS a substantial amount of money. I am going to have to increase our withholding substantially this year if we cannot find a lot more items to donate.
The new tax law hurts those who itemize but do not make a lot of money. We are in this weird tax zone; if we made more money the reduced rate would equalize out the loss of the personal exemptions. I am not sure what the purpose of this is... it definitely hurts a segment of the lower middle class who have high mortgage interest and high state taxes that come to a lot more than the $24,000 standard deduction.
We have both lived in Washington all of our lives. But we are planning on buying a cheaper house in another state that has lower taxes as soon as we can sell our property here and then taking the standard deduction. The amount we pay to the federal government will go up, but the amount we pay overall in taxes and interest will go down. We can no longer afford to stay in a familiar area with our friends and family.