We are getting a refund, about the same amount as we usually do. I did lose my job back in September and have been unemployed (w/o payment) since. So I am thankful to be getting this "income."
Post by closertofine on Feb 15, 2019 19:52:18 GMT -5
I get a pretty large refund every year (I was going to adjust it after last year's taxes, but my accountant suggested waiting until after this year to see how things shake out). I'm getting 20% less back this year, and I had no significant changes from last year.
We refund was about $900 more then last year. We made about $15k more though. I haven’t looked up what we actually paid in taxes vs last year yet. I really grateful though. I have heard horror stories and was holding my breath that we wouldn’t owe.
Post by amberlyrose on Feb 18, 2019 14:00:36 GMT -5
We bought 2 electric vehicles, put solar on a house. It's a good year for us though I feel guilty knowing my parents and sister are definitely getting screwed this year
Post by secretlyevil on Feb 18, 2019 16:37:18 GMT -5
And we owe $1,500 for fed taxes, which is $500 more than we owed last year. AND we are taking out maximum taxes plus putting extra towards taxes. This is fucking stupid.We are efiling and having turbo tax take the money out on 4/15. Fuck the orange dumb ass.
Post by pierogigirl on Feb 18, 2019 18:24:33 GMT -5
Due to SALT limits, our income went up by $10,000 and our tax liability went up by $6,000. We increased our retirement contributions for 2019 to try to reduce our taxable income, but I kind of want to throw up. We might need to increase our 403b even more to bring down our income some more.
Post by StrawberryBlondie on Feb 18, 2019 21:27:05 GMT -5
We owe about $2,500 more than last year, but this year was also sort of a unique year in terms of our finances, plus we both got promoted, so it's hard to say whether this is related to the new tax law or because of the one-off stuff.
Post by secretlyevil on Feb 19, 2019 8:00:33 GMT -5
H takes the stand of being as close to zero as possible - no refund or no owing. So after doing the taxes yesterday, he did calculations and once again changed his extra withdrawal. However, who knows what fuckery will ensue this year?
I did mine yesterday and my federal refund was cut in half by making about $2700 in my side business. I'm getting refunds from state and federal, but I do think my federal refund is less than last year. I'll have to look back at my 2017 documentation to verify. But even though I didn't get a raise this past year, my AGI was higher than in 2017.
Post by katieinthecity on Feb 22, 2019 9:24:45 GMT -5
We're getting a refund, but smaller than last year. For several years in a row before that we had major life changes so can't compare a norm. We withhold a lot, and almost doubled the refund by itemizing vs. standard deduction this year.
We're both getting a huge refund, but it was each of our years to claim our kids and always withhold as if we don't have them. I didn't compare actual tax paid to last year, but am annoyed I tracked expenses all year then didn't need to itemize.
Plus side, we both got to file for free - his was simple and I got mine through Uber. He's always gone through an accountant and I convinced him it just wasn't with it.