Just T
Drama Llama
Posts: 5,838 
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Post by Just T on Mar 1, 2019 22:09:38 GMT
If your circumstances (income/deductions/children etc) are the same as last year and your results are totally different, that is telling. In our case, the circumstances are not the same and we're getting slammed. It's a large, depressing number. That is what killed us. Deductions that we have always been able to take she told my husband we no longer can. I don't remember them all...he was pissed and rattling them off to me over the phone. |
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Post by judy on Mar 1, 2019 23:17:50 GMT
Our income went up about 3% but what we owe went up about 50%, with no changes to deductions on our part. So frustrating!
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PLurker
Prolific Pea
Posts: 9,808
Location: Behind the Cheddar Curtain
Jun 28, 2014 3:48:49 GMT
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Post by PLurker on Mar 1, 2019 23:22:28 GMT
If your circumstances (income/deductions/children etc) are the same as last year and your results are totally different, that is telling. That's not really fair as what's allowed for deductions has changed drastically this year. In our case, the circumstances are not the same and we're getting slammed. It's a large, depressing number. That's exactly my point about allowable deductions drastically changing. But I'm just saying that if the only (1) variable from one year to the other is "the changes" it is telling that the changes caused the effect. If you plugged last years numbers into this years program (nothing else different) it would show how the change hurt (or helped) you in same circumstances. In your and others' (mine) where circumstances changed it is harder to pinpoint the one cause because of multiple variables. I seem to be hearing more negatives than positives (gains). But it might just be the company (similar incomes) I keep. Sorry it hurt you, too. ETA I am tempted (but don't know if I'll find the time) to plug in year's previous before my divorce etc. and see how I (we) would fair in this years changes. I'm guessing not good. Not that it is great now but I would have a better frame of reference with long standing consistency up to that point. |
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stecho
Shy Member
Posts: 24
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Post by stecho on Mar 1, 2019 23:28:26 GMT
Our effective tax rate went down. I was anticipating it would. We no longer itemized and had been phased out of the child tax credit last year. The new deduction helped us and we were allowed the child tax credit now.
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Post by refugeepea on Mar 1, 2019 23:29:16 GMT
We did better with the tax changes. It would have been less with the old laws. We got less back because of a change of dependents.
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Post by Spongemom Scrappants on Mar 2, 2019 0:27:01 GMT
In your and others' (mine) where circumstances changed it is harder to pinpoint the one cause because of multiple variables. I agree. I'm pretty sure I know what to blame for ours, but there's too many moving parts to know for sure. |
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Post by NanaKate on Mar 2, 2019 0:50:34 GMT
What’s a K1?
For the first time in 26 years of marriage we don’t owe thousands...only $311. Nothing else changed for us.
I’m so confused!
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Post by *KAS* on Mar 2, 2019 23:51:36 GMT
$960 less than last year. And honestly, the only reason I'm getting as much as I am is because of my Stella and Dot side business. I know people hate MLMs, but I'm thankful for it this year! I don't have kids, so very few deductions otherwise.
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Post by myshelly on Mar 3, 2019 1:57:31 GMT
Every time I scroll past this thread I read it as “ugh, Texas” and think crap, what did we do now 🤣
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scrappinmama
Drama Llama
Posts: 5,050
Jun 26, 2014 12:54:09 GMT
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Post by scrappinmama on Mar 3, 2019 2:03:47 GMT
Every time I scroll past this thread I read it as “ugh, Texas” and think crap, what did we do now 🤣 😂 |
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Post by FuzzyMutt on Mar 4, 2019 17:21:36 GMT
If your circumstances (income/deductions/children etc) are the same as last year and your results are totally different, that is telling. That's not really fair as what's allowed for deductions has changed drastically this year. In our case, the circumstances are not the same and we're getting slammed. It's a large, depressing number. I agree, the tax code should be simpler, with changes better communicated. My 2015 taxes killed me, because I had a massive shift in jobs and location, and made some huge decisions along the way (less comfortable) that ensured alot of my job search and moving expenses would be tax deductible. I chose more expensive options in several cases, because I would be able to obtain receipts for tax purposes. Then I did my taxes and the playing field for job search and moving had changed for tax year 2015. It really really hurt me financially. I am still feeling the effects. |
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Post by gmcwife1 on Mar 4, 2019 21:17:41 GMT
We just got back from doing ours. We owe for the first time in many years. Dh tried to change his withholding last year when our preparer told him to, but there was a misunderstanding between him and HR and it didn’t get done.
We made $36 more this year then last year and our tax rate went from 25% last year to 22% this year. I’m fine owing as we probably wouldn’t if his employer updated his withholding as asked.
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Post by Skellinton on Mar 5, 2019 1:00:27 GMT
We ended up getting a small amount back, but I also had money held from paycheck each month in anticipation of getting screwed. If I hadn’t we would have owed for the first time in forever. We are definitely worse off and neither paycheck saw any of the supposed increase we were all going to see.
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Post by Scrapper100 on Mar 5, 2019 3:56:36 GMT
I'm thankful we didn't owe but got the smallest return back we have ever received. I know that is good but at the same time it is always nice to get a some back. We also did not see an increase in paychecks this year maybe a few bucks but I attributed that to my husbands small raise. After hearing so many saying they owed I was scared we would to so happy about that. Sorry that you owed money.
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Post by nepean on Mar 5, 2019 4:07:48 GMT
We had to pay this is year........ $3! for federal. yep it cost almost as much to pay the bill! I think we owed $2 for state. Crazy!
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