The standard deduction increase kind of screwed me because they took away the Personal Exemption and it caused me to not itemize.

So I owe $82 to Fed this year - but I get back several hundred from state.

How'd you do? And did you file? (I always file on the first day, which is 01/28/2019 this year.)

------------


Gone: My Discogs collection for The Roots:
http://www.discogs.com/user/tomhayes-roots/collection

I'm now in the same tax bracket as somebody making $350K or higher.
The new tax code is bullshit.

++++++++++++++++++++++++++++++++++++++

not looking forward it to it really. heard that turbotax is asking about crypto now.

have not filed yet, but this is gonna suck

i was hoping i would get a little something back. without uber i owe like $200. depending on what expenses i can claim it might go up to like $500 or stay around $200. im thinking i could get it to zero but im going to have to check everything.

i made changes to my exemptions last year to avoid owing anything, looks like i miscalculated some.

i will probably wait it out and gather all the receipts and such. if im going to pay no need to rush in filing.

My wife had a bunch of 1099’d these last few years.

Now that that’s over it should be a little better.

Next year we should finally be close to zero or maybe even get a return.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

I normally file within the second or so weekend in February, but given all the madness with Trump threatening to shut the government down and the uncertainty with the IRS, I will file ASAP even though the government is scheduled to stay open for at least three more weeks. I am certain I won't like what I see given that NYC is going to get screwed due to the changes with the tax code.

Can someone please breakdown the changes with the SALT tax deductions? I vaguely remember local government officials making a big deal about it last year when the tax code was changed, but I forgot all the details from the articles I read. I do remember that some Blue States are going to get screwed royally because of the tax code changes pertaining to deductions.

"Sean sparks like John Starks, nah, Sean ball like John Wall" - Rest In Power Forever Sean Price.

I think that bit me too.

Seems suspiciously like the tax code is getting cheaper for high income people who make most of their money off investments vs. the person who has worked for years to get an income above $80k.

https://smartasset.com/taxes/trumps-plan-to-eliminate-the-state-and-local-tax-deduction-explained

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Gone: My Discogs collection for The Roots:
http://www.discogs.com/user/tomhayes-roots/collection

This will be my first time filing as a homeowner so I should have a lot of extra stuff to think about. Usually it takes me like 10 minutes to fly through TurboTax.

-------------------------------------------------
http://www.soundcloud.com/sectachrome

This year my tax rate increased from 14.8% to 15.6%, while my income did go up a few thousand dollars and there were some other changes, it "feels" like I got less back.

So I took my exact figures/entries from my 2017 taxes and created a new 2018 tax return using those figures. In 2017 I did donate about $6200 to charity - I normally don't reach 1/5 of that amount.

Including the charitable contributions the 2018 taxes resulted in $500 less returned in Federal and $500 in CA state.

I then created a new 2017 tax return and removed the charitable deduction entirely and then did the same to my 2018 and compared them.

Next result:Federal taxes decreased by $8 dollars and state tax *refund* decreased by $400.

$8 is a federal tax cut of .00007% for me or 7 hundred-thousandths of 1 percent.

In conclusion: It's a shit show that benefited only the super-wealthy AND seems to punish charitable giving.

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Gone: My Discogs collection for The Roots:
http://www.discogs.com/user/tomhayes-roots/collection

Our combined income went up, putting us in higher tax bracket, and we cashed in an IRA to cover roof repairs. Take off the IRA and we would have gotten back a few bucks.

So, I'll run the numbers somewhere else for a second opinion, but I'm confident that the numbers are correct. Needless to say, I won't be filing until 4/15.

We need to decide whether we need to increase withholding going forward, or just reconcile ourselves to the fact we'll be getting back pennies, or owing , in the future.

I like when I used to get a nice return but it’s my damn money.

I’m at a point where I need as much of it as possible so if I owe a bit or break evem I should be happy.

We have owed the last few years since my wife was 1099 and never put taxes aside. She used to get hype at her hourly rate until realizing that’s not really the rate once you file taxes... plus with the itemized deductions going away it was a bad deal.

It’s all W-2’s but I did cash out some of my IRA so it’s going to be scary this year.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

on Feb.22...
So I figured what's the point of doing them now.


"Get ready....for your blessing....."

albeit a little less than last year but still owe.

State refund is a little better but that came from giving them more during the year.

_______________________
We rationalize dumb shit

That field on Turbotax said I could just type whatever but then I was denied because I was sent a personal PIN in the email around mid-December but I never got that. TurboTax makes it sound like a pain in the ass to get back while the IRS site not so much. I should get on that but...eh. I REALLY hope it goes smoothly, whatever it is I have to do.


I don't have health insurance so my federal return hasn't been something to get excited over in years. My state is pretty good though; if I got both back I'd be looking at over $1,200, but since I'm not that state return is mostly just going to make up for how slow bars and restaurants are in January and how that hurt my paycheck.


~~~~~~~~~
"This is the streets, and I am the trap." � Jay Bilas
http://www.popmatters.com/pm/archive/contributor/517
Hip Hop Handbook: http://tinyurl.com/ll4kzz

i only had a job for 6 months of last year and drove Uber for the other 6. only had health insurance for 3 months. i'm prolly fucked.

d

Federal: $701
State: $1
City: "Even Steven" as my mom would say. She's an accountant and she did my taxes this year.

So, I'm getting $702. God willing the federal portion will drop in my checking account next week. I'm not surprised that I don't owe money because I keep my allowances mad low and my returns are fairly simple: I'm not a homeowner, I didn't take money out my 401K, blah, blah, blah. I'd rather overpay and give Uncle Sam an interest-free loan than have to pay up later. I don't like "surprises" that involve shelling out money. I'm already mad my passenger side windshield wiper stopped working and that's cutting into my forthcoming federal tax refund. Luckily, my stepdad is fixing it for free; I'll just have to reimburse him for the $83 part.

My mom told me she couldn't itemize deductions this year. It's been AGES since she hasn't been able to itemize, but she ain't the only one. I'm seeing a lot of news articles and folks are pissed. I'm fortunate that I came out unscathed-- I'm actually getting more than I did last year.

Here's the e-file direct deposit schedule. Don't really know if it's legit, though: https://themilitarywallet.com/irs-federal-tax-refund-schedule/

We filed this weekend. I got the email and text that the IRS accepted my return on Monday, February 11. Per the schedule, the direct deposit could hit on February 25, a day after the cut off for the February 18 direct deposit date. Grrr.

Oh, but wait...

Last year, the IRS accepted on March 16. Got my return six days later on March 22! The schedule I saw for last year said I'd get it on April 6!

There's hope, y'all.

On another note, I resent that I'm so broke right now that I'm excited over $701. I'm also disappointed by annoyance that I missed the February 18 direct deposit date cut off by ONE DAY. So, I'm mad I may have to wait another week for $701 like I'm mad that I still care when I get paid.

I'm too old for this. I can't wait until I pay off this credit card debt. It ruins shit. Don't rack up debt if you can help it, kiddos. SMHD.

//end rant

--
"Music is not to be possessed; it's to be shared.” - James Mtume

"Just stay loose, keep it raw, and bang ya drums out sometimes." - Madlib

Direct deposit hit this morning.

It took 8 days to drop after Uncle Sam accepted my return. Not bad, not bad at all.

Naturally, more than half of the money is gone already. Whew, Lawd. I really can blow some money. LOL.

--
"Music is not to be possessed; it's to be shared.” - James Mtume

"Just stay loose, keep it raw, and bang ya drums out sometimes." - Madlib

Refund was small, but I'm definitely not mad at that

_______________________________________

With the new $10K cap on SALT deductions, I'm really fucking worried about what the bottom line will come to. We pay property tax in NYC.

_______________________________________________________________________________________

Too bad I already spent that money. Apparently I'm getting a way bigger refund than last year. I think buying a house helped me there.

-------------------------------------------------
http://www.soundcloud.com/sectachrome

Mom is a disabled veteran who retired from the military with disability pay.

She owns a house. She pays property maxes.

She gives lightly to charity.

She was NOT allowed to itemize this year (standard deduction was better.)

Her income is was $5k higher, but she paid taxes on over $10,000 more because of not being able to itemize,

She paid more taxes, and she got 1/4 of the refund she got last year.

And she is a disabled veteran on a fixed income.

I hope a bunch of Trump goobers feel this same pain.

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Gone: My Discogs collection for The Roots:
http://www.discogs.com/user/tomhayes-roots/collection

I haven’t but it’s only been a little but when I go on Twitter hella people have been a “I filed in January and you keep saying 7-10 days more”.

Makes me wonder if anyone has gotten their refunds from DC.

Got my federal one but I don’t care about that one lol.