2018 Procrastinator's Tax Thread

Re: 2018 Procrastinator's Tax Thread

Postby lethal » Sat Feb 02, 2019 11:45 pm

I put 0 exemptions on my W-4 htf do I owe 10K? (well I know how, goddamn trump tax cuts and stupid irs withholding schedules).
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Re: 2018 Procrastinator's Tax Thread

Postby Bucky » Sun Feb 03, 2019 2:48 am

yeah, i'm not looking forward to this. My withholding was reduced but all the online calculators say i will owe slightly more than in the past (and I usually end up with a bill around $20K). But in the silver linings department maybe lots of the trumpies who exalt about getting more in their paycheck will realize the folly of the whole thing once they file.
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Re: 2018 Procrastinator's Tax Thread

Postby thephan » Sun Feb 03, 2019 8:00 am

You guys are reporting the type of thing that I’ve been concerned with. Although I knew that I would get nothing out of it, I continued to increase my charitable giving because I think sometime in the not too distant future the folks who only donate only because of tax breaks will stop because they won’t hit that minimum. I think this year is mostly ok because people don’t pay attention, so they may have continued to give it their previous levels.
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Re: 2018 Procrastinator's Tax Thread

Postby thephan » Sun Feb 03, 2019 8:04 am

Bucky wrote:how was it challenged? Every year H&R block software tells me I need to have more withheld, and I get a little bill from the IRS for penalties, but no enforcement was ever forced.


My great uncle was a waiter until he retired, then he went on to work at H&R Block... i’ve never felt like they would bother to find anyone qualified to write their software given old uncle Johnny who seem to have a general struggle day to day with pretty basic stuff as one of their top guys cross the bridge in New Jersey.
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Re: 2018 Procrastinator's Tax Thread

Postby jamiethekiller » Sun Feb 03, 2019 8:36 am

Turbo tax will tell you the difference in taxes paid from this year to last
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Re: 2018 Procrastinator's Tax Thread

Postby The Savior » Sun Feb 03, 2019 11:28 am

I owe. F.
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Re: 2018 Procrastinator's Tax Thread

Postby Bucky » Sun Feb 03, 2019 12:14 pm

how is you overall burden compared to last year?
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Re: 2018 Procrastinator's Tax Thread

Postby mickbayne » Sun Feb 03, 2019 12:30 pm

Mine ended up pretty similar to last year. Getting a little over $1k back. Effective Tax Rate (as calculated by TurboTax) dropped by 0.21%. I didn't change anything on my W-4 but was able to contribute to an HSA for the first time.
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Re: 2018 Procrastinator's Tax Thread

Postby Uncle Milty » Sun Feb 03, 2019 5:10 pm

Guess you guys didn't buy the trump tax guide book
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Re: 2018 Procrastinator's Tax Thread

Postby thephan » Mon Feb 04, 2019 12:43 pm

What happened? We were all getting massive tax breaks!
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Re: 2018 Procrastinator's Tax Thread

Postby heyeaglefn » Mon Feb 04, 2019 5:28 pm

thephan wrote:What happened? We were all getting massive tax breaks!

You mean you haven't been getting it in your paycheck?
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Re: 2018 Procrastinator's Tax Thread

Postby Bucky » Mon Feb 04, 2019 7:01 pm

someone challenging someone else's assertion that they got no tax cut this year:

Just had my taxes done today. Grossed about the same amount as last year, did not get the usual credits such as mortgage interest, and got no deductions or credits for being over 66. I'll get a return amounting to half of what I got last year, but my paychecks with appropriate deductions actually netted the difference directly into my own pocket ... basically, while it may seem like a wash, I did net more take home pay.
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Re: 2018 Procrastinator's Tax Thread

Postby lethal » Mon Feb 04, 2019 10:21 pm

Am I missing something?
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Re: 2018 Procrastinator's Tax Thread

Postby Bucky » Tue Feb 05, 2019 12:36 am

Yeah, I guess context. He's sticking up for the tax cuts trying to make a point that they achieved their mission for middle-class folks.
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Re: 2018 Procrastinator's Tax Thread

Postby Bucky » Tue Feb 05, 2019 12:38 am

Whoops, now that I read back, my post was extremely lacking. Original post was how the dude paid more this year, then several others saying the same thing, and he saying although he paid the same, the tax cuts were effective.
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Re: 2018 Procrastinator's Tax Thread

Postby Ace Rothstein » Tue Feb 05, 2019 12:41 am

Did my taxes on Wednesday, got my return just now, that was fast
Last edited by Ace Rothstein on Tue Feb 05, 2019 6:15 am, edited 1 time in total.
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Re: 2018 Procrastinator's Tax Thread

Postby Bucky » Tue Feb 05, 2019 1:05 am

what was the comparison to last year?
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Re: 2018 Procrastinator's Tax Thread

Postby Bucky » Tue Feb 05, 2019 1:06 am

and holy @#$% that is fast
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Re: 2018 Procrastinator's Tax Thread

Postby Ace Rothstein » Tue Feb 05, 2019 6:14 am

Bucky wrote:what was the comparison to last year?


About 33% less than last year’s return, but factoring in the extra money a week I was getting from the tax break and moving up in tax level I’m guessing it’s about the same overall
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Re: 2018 Procrastinator's Tax Thread

Postby lethal » Tue Feb 05, 2019 8:17 am

Bucky wrote:Whoops, now that I read back, my post was extremely lacking. Original post was how the dude paid more this year, then several others saying the same thing, and he saying although he paid the same, the tax cuts were effective.


Oh, OK. I was reading it and thinking that guy sounds like he got no tax cut, but he's arguing against the notion that people got no tax cut?
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