Replies: 18
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Oculus Spirit [81536]
TigerPulse: 100%
Posts: 47056
Joined: 3/18/07
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So being so absent as of late, did I miss all the complaints
Mar 27, 2019, 4:27 PM
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about taxes? I understand the whole "tax returns are free loans to the government", but my witholding has always been proper, it's my itemized deductions that would typically provide me with a decent return....until the new tax law.
The removal of the deduction to donating to charity might be the biggest #### you to the middle class ever.
Sure, I get like $30 more per paycheck thanks to the new tax law. But my average return the past few years has been $2,500. $30*26 = $780. Sure would be nice to have that additional $1,720 that has magically disappeared because of the new tax laws.
Also, I miss Tigernet, y'all are fun.
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Oculus Spirit [97323]
TigerPulse: 100%
Posts: 64586
Joined: 7/13/02
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We came out about even. Lost a lot of deductions, but
Mar 27, 2019, 4:31 PM
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gained the child credit for 3 head of kids because we're such prodigious breeders.
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Oculus Spirit [81536]
TigerPulse: 100%
Posts: 47056
Joined: 3/18/07
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I don't want to go the kid route, but dang it.***
Mar 27, 2019, 5:23 PM
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Oculus Spirit [84396]
TigerPulse: 100%
Posts: 24648
Joined: 5/21/14
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What charity did you not get credit for? IPTAY?
Mar 27, 2019, 4:35 PM
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I got all of mine this year.
Also, came out way better b/c of the new tax laws mostly b/c of kids. The only place I got hurt was the cap on the state tax deduction...BUT I still itemized and that is why it hurt me. I assume the majority did not itemize this year because the increased the standard.
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Oculus Spirit [81536]
TigerPulse: 100%
Posts: 47056
Joined: 3/18/07
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Double checking my return it looks like whenever I checked
Mar 27, 2019, 5:22 PM
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I didn't qualify for itemized; however, after inputting some more rental property stuff I finally got over the threshold and the donations weren't $0.
But the threshold for itemizing and standard is beyond stupid now.
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Oculus Spirit [75432]
TigerPulse: 100%
Posts: 108676
Joined: 10/26/03
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I think I got about the same back as last year.
Mar 27, 2019, 4:42 PM
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With the news standard deduction, I my mortgage interest will not make a difference for 2019.
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Heisman Winner [118846]
TigerPulse: 100%
Posts: 54057
Joined: 6/24/09
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Forget taxes; go check out Daddario!***
Mar 27, 2019, 4:43 PM
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Heisman Winner [112363]
TigerPulse: 100%
Posts: 61263
Joined: 8/22/01
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Chocolate is angry black woman and says .............
Mar 27, 2019, 5:29 PM
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Trump can gdiaf. Well she didn't say that exactly but same thing since there were a few F bombs in there.
I don't know the tax laws etc. But she owes almost $10,000 that wasn't expected per previous years returns.
I didn't know what to say I was like SMH.
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Oculus Spirit [80644]
TigerPulse: 100%
Posts: 55743
Joined: 9/13/04
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My SIL does as well.
Mar 27, 2019, 6:33 PM
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Due to Obamacare.
I'm sorry she owed, but at least she understands now the downside to it.
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All-TigerNet [12098]
TigerPulse: 100%
Posts: 6709
Joined: 8/3/09
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My total tax burden was about $800 less this year
Mar 27, 2019, 5:36 PM
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vs last year, but due to them monkeying around with the withholding to make the ignorants feel like they were getting a huge tax break, I wound up owing a little over $2800 including a $30 underpayment penalty because they changed what they were taking out. For years, I’d had it set just right where we were within $75 of either refund or paying but nooooo the had to give everybody a fake “gift” and screw up my system.
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Heisman Winner [112363]
TigerPulse: 100%
Posts: 61263
Joined: 8/22/01
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Yep so many are upset. They got more money in the .........
Mar 27, 2019, 5:47 PM
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check but not what they expected at refund time.
I adjusted my #### and came out smelling like a rose. Thank you Trump (I'm not telling her that lol)
Like I said I don't know the tax laws. Apparently it had to do with something about nursing perks gone and buying a house but not in a certain way. Hades I don't know.
I'm just like laying low and not talking about it. Got enough probs with her dad lol.
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CU Medallion [50635]
TigerPulse: 100%
Posts: 43019
Joined: 12/3/98
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i have no way of telling
Mar 27, 2019, 5:43 PM
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my tax returns this year were completely unlike any other year
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All-TigerNet [11019]
TigerPulse: 100%
Posts: 12358
Joined: 7/5/03
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The biggest kick in the teeth was losing the personal exempt
Mar 27, 2019, 5:59 PM
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ion.
Between that, the raised itemization cap, and the new rules that say you can't deduct relocation expenses, I took it in the shorts for taxes this year.
The tax bill was a legitimate shot over the bow at people that live in states with high tax rates, and own homes by capping state and local taxes paid at $10k.
Between state and local taxes, relo expenses, and personal exemption, I would have had about $22-24k in deductions. Thanks to the new bill, I lost out on all of those, and ended up paying a net of ~$2700 more than I would have under the previous code. Fortunately, I left california just before I hit 10k in state taxes, otherwise that number would have been even higher.
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Oculus Spirit [80644]
TigerPulse: 100%
Posts: 55743
Joined: 9/13/04
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Haven't done mine yet.
Mar 27, 2019, 6:37 PM
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I'll wait til the first or second week in April to start; i'm in no hurry. I always owe even though we both claim zero allowances. It sounds as if I'll have no deductions as well, so i'm thinking I'll probably have to give Uncle Sam about $5-6K.
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All-In [34350]
TigerPulse: 100%
Posts: 41278
Joined: 4/20/01
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now do Obummacare***
Mar 28, 2019, 11:33 AM
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All-In [30435]
TigerPulse: 100%
Posts: 62636
Joined: 10/4/99
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Worked out well for me.
Mar 28, 2019, 12:46 PM
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More take home pay. Larger refund vs last year. But, I try to break even on the refunds crap. But, I did own NC $56 and no idea where I'mm get that money from.
I'm a jerk, so I do not donate anything (my job is to toss everything in a landfill somewhere), so no need for that deduction. So, yay for Trump's tax cuts.
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All-In [30435]
TigerPulse: 100%
Posts: 62636
Joined: 10/4/99
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This MAC keyboard SUCKS!!!***
Mar 28, 2019, 12:48 PM
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All-In [35541]
TigerPulse: 100%
Posts: 14328
Joined: 4/7/17
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I got back $400 this year
Mar 28, 2019, 1:00 PM
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My W4 is set to Single 5 all year except for Dec when I got exempt. I also cashed out a 401k last year.
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Heisman Winner [131722]
TigerPulse: 100%
Posts: 26219
Joined: 9/18/12
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Re: So being so absent as of late, did I miss all the complaints
Mar 29, 2019, 10:05 AM
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Next year, I get to claim Myfavjr. so I'll get back a pretty decent return. This year, yuck!!!
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Replies: 18
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