Is your overall liability higher or lower than last year?
Is your overall liability as a percentage of income higher or lower than last year?
Those are the pertinent questions. Not whether you under or over withheld.
“Those are the pertinent questions. Not whether you under or over withheld.”
People just don’t get it. My daughter, who is a math wiz compared to me, and makes more money than me is always going on and on about how her commission payments have like 40% tax withheld, while her regular salary checks have withholding at a much lower rate.
For years I have tried to explain to her that it doesn’t matter at the end of the year, but it still annoys her muchly.
I have my doubts about this tax reform. I think I’m going to be screwed personally, but the kid made out OK so far.
But, as you correctly say to really assess how it worked out for her we’d have to compare this year’s return to last years. I’m pretty sure that high withholding saved her, plus she’s got 2 kids.
And, btw, how many people have a mtg. for over 750K?
Still think hubby and I will be screwed, but still worth it not to have Felonia VonPantsuit as POTUS.
That’s the issue: did you pay more or less tax than last year on the same income?
Who in the world could come up over the years with such an abominable abortion called the Internal Revenue Code than the filthy poiticians called congress?