My taxes are almost $4k higher this year, with no changes to income or expenses. Fuck the GOP.
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My taxes are almost $4k higher this year, with no changes to income or expenses. Fuck the GOP.
Yeah, doubling the standard deduction is going to hurt a lot of charities, as people who used to itemize realize they can't anymore. That's annoying.
Charities aren't thrilled about the massive eatate/gift/gst cut, either.Quote:
Originally Posted by Danno
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I *knew* people were going to get caught off-guard by the huge increase in the standard deduction. I'm waiting anxiously to see how *many* millions are pissed about it... 'cause it's gonna be millions.
But 'Merica's gonna be great again, and tired of winning.Quote:
Originally Posted by skaredshtles
Just finished filling and owe 2k. Now I know what a hooker on Wall St feels like [emoji2959]
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Somebody should start a separate taxes thread so we can track the increases/decreases in taxes and refunds due to this so called reform. Haven't done mine yet but I am starting to worry.
Sure, but let’s make sure we are comparing apples to apples (i.e., effective tax rate year over year) and not, “last year I got a refund and this year I had to pay $2k.” type of comparison. Talk about shit that annoys you.Quote:
Originally Posted by yeahman
^^^Agreed. Actual tax rate. Refund is irrelevant.
yeah. I am getting quite a bit more back this year, and I think it is because of the tax law, but my tax situation also changed fairly significantly.Quote:
Originally Posted by spanky
You want apples fine- 17 ETR 10.57% - 18 ETR 9.97%. in '18 total income $1875.00 less then in 17 and owe $1854.00 more this year. Also after filling last year both of us changed deductions from married 1 to married 0 plus $10. Per check extra. So ya got fucked.Quote:
Originally Posted by spanky
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I wouldn't be complaining if I was getting a refund, fuck I wouldn't be complaining if I broke dead even after filling fees, that's actually how the fucking system should work.Quote:
Originally Posted by Flyoverland Captive
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That would be a worthwhile thread. With no reason to itemize now I've been wondering if it's still worth the price to use TurboTax vs something else. On the other hand, my wife got two W2s and a 1099-MISC, we maxed out a HSA, received ACA subsidies, and contributed to a 529, so maybe it's still worth it?Quote:
Originally Posted by yeahman
Isn't the HSA deduction separate from schedule A itemized deductions? It goes straight on the 1040 I thought.Quote:
Originally Posted by Dantheman
I meant still worth the cost to use TurboTax vs. one of their cheaper, simpler competitors. I just don't know how well the other guys will handle her 3 jobs, the HSA, and particularly the ACA subsisides. This is our first year with the HSA and ACA subsidies, so I'm not really sure what's involved. Definitely not itemizing mortgage interest, donations, etc. though.
Do I understand your post correctly? Your ‘17 effective tax rate (10.57%) was higher than your ‘18 effective tax rate (9.97%)?Quote:
Originally Posted by prsboogie
Are you really complaining about a lower tax rate?
No I'm complaining about making 2k less this year and having to pay $1854 more at filing on top of increasing my weekly federal deductions. I really don't give a shit what my ETR is, I'm paying more per week as well as paying more in April. I paid the fed $708 last year and $2662 (708+1854).Quote:
Originally Posted by spanky
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Queef is not a valid words with friends word.
well tht's bullshit, it's in the OED: https://en.oxforddictionaries.com/definition/queef
At a brew pub (or any small venue) and the local artist finishes a song and people don't give her/him applause. Yeah, it kinda pisses me off.
Mostly it was this one douche sitting next to me at the bar. His Irish plaid cap with his rolled sleeves that were different color on the inside and his long ass beard and he was with his wife or whoever. He was a douche to the barmaid not saying "thank you" for anything and asking for stuff like she was beneath him. Man, I just hate assholes.
I know, right?Quote:
Originally Posted by iceman
Admittedly I'm really bad at this, but your tax rate x your income = what you pay, right? So, how did your tax rate go down, income went down and paid amount went up? And again, bad at this plus I'm two glasses of wine in waiting for wife to get home so we can go to dinner, sorry.Quote:
Originally Posted by prsboogie
If you are getting a refund, you’ve given the government a loan at 0%.Quote:
Originally Posted by Danno
Do you think they’ll do the same for you?
I’m confused as well. I think the math might be off somewhere. My understanding of effective tax rate is:Quote:
Originally Posted by zion zig zag
[Total tax paid (withdrawn from your paycheck over the year) +/- amount owed/refunded] / Your “taxable income”
Now, with the tax law changes, the deductions from your AGI may not be as great which would possibly increase your taxable income. That could decrease your effective tax rate.
Don't know either, those are the exact numbers directly off the summaries for both years.Quote:
Originally Posted by spanky
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