Taxes

MJE

Senior
Sep 5, 2001
2,036
278
83
Los Angeles
Say what you want...the Donald has made this year’s filings very lucrative!

Made more money
Paid less in taxes!
Bigger refund
Lower effective tax rate!

Paid less in taxes being the priority!!!!
What state are you in? No SALT limitations for you?
 

bshields

Junior
Aug 28, 2001
1,328
280
83
Say what you want...the Donald has made this year’s filings very lucrative!

Made more money
Paid less in taxes!
Bigger refund
Lower effective tax rate!

Paid less in taxes being the priority!!!!
That has NOT been the typical case for most of the tax returns I have done, especially larger refunds since less was deducted.
 
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Hank Reardon

Hall of Famer
Gold Member
Jan 12, 2004
19,231
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Say what you want...the Donald has made this year’s filings very lucrative!

Made more money
Paid less in taxes!
Bigger refund
Lower effective tax rate!

Paid less in taxes being the priority!!!!
Meh. Didn't work for me.
 

MyTeamIsOnTheFloor

Hall of Famer
Gold Member
Dec 5, 2001
45,895
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Duckburg
Say what you want...the Donald has made this year’s filings very lucrative!

Made more money
Paid less in taxes!
Bigger refund
Lower effective tax rate!

Paid less in taxes being the priority!!!!
I had less taxes confiscated through payroll deduction, so i got less of a refund than last year, but the overall tax burden was about 2% less.

BUT, Kentucky (unfunded pensions) and Louisville (cop expenses) are both broke, so it was probably a 1 year thing. I'm sure they'll take it back quick.

On the other hand, I get to pay for a wedding, so I'm broke too.

I need me some of that "Robin Hood" government where the socialists give me half their stuff to be "fair."

Woe are me.
 
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iubud

Hall of Famer
Aug 7, 2003
12,293
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That has been the typical case for most of the tax returns I have done, especially larger refunds since less was deducted.
I have to pay this year. My employer paid my 2017 bonus at the end of 2017 instead of early 2018 as is usually the case. I received my 2018 bonus in 2019. So there was no bonus paid within calendar year 2018, but I had 2 bonuses pay out in 2017. I believe I got hurt this year by not getting the larger than normal bonus withholding. It helped me in 2017 getting 2 and worked against me in 2018.

I'm not quite sure if it will balance out for 2019. I need to study my return and calculate what I need to withhold this year. Or, I could just write a check next year.
 

hookyIU1990

Senior
Gold Member
Sep 26, 2007
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I have to pay this year. My employer paid my 2017 bonus at the end of 2017 instead of early 2018 as is usually the case. I received my 2018 bonus in 2019. So there was no bonus paid within calendar year 2018, but I had 2 bonuses pay out in 2017. I believe I got hurt this year by not getting the larger than normal bonus withholding. It helped me in 2017 getting 2 and worked against me in 2018.

I'm not quite sure if it will balance out for 2019. I need to study my return and calculate what I need to withhold this year. Or, I could just write a check next year.
FWIW, I'm a fan of writing the check. I have better things to do with my money than uncle sugar.
 

UncleMark

Hall of Famer
Sep 1, 2001
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I'm not going to say I like paying, but I don't mind it as long as it's not a huge surprise. It means I've not given the government an interest free loan all year, and that I've done better than expected financially.

I've been one of Romney's 47% and I don't like it.
 

iubud

Hall of Famer
Aug 7, 2003
12,293
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FWIW, I'm a fan of writing the check. I have better things to do with my money than uncle sugar.
My wife thinks the government holding out money without paying us interest is better than keeping the government's money ourselves and using it all year. It has been the source of a few disagreements.

She thinks it is a bonus.
 

VanPastorMan

Hall of Famer
Mar 21, 2002
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Central Pennsylvania Via Washington Indiana
My wife thinks the government holding out money without paying us interest is better than keeping the government's money ourselves and using it all year. It has been the source of a few disagreements.

She thinks it is a bonus.
Bud, I suppose it's good if people don't have the personal discipline to hold onto the money during the year. I actually don't mind owing some as long as I knew about it beforehand.
 

iubud

Hall of Famer
Aug 7, 2003
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Bud, I suppose it's good if people don't have the personal discipline to hold onto the money during the year. I actually don't mind owing some as long as I knew about it beforehand.
My wife and our best friends have a competition every year on who gets the most back. I tell my wife it isn't a competition I want to win and that it is money we didn't save or use for something else. I am glad we won this year though. We owe less than they do! Yay us!
 
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37Hoosier

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Mar 28, 2017
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I am actually a Baptist pastor. I've been in the ministry since 2001 after graduating from the Moody Bible Institute in Chicago. What do you do for a living?
You are one of the biggest phonies on the board. I pity anyone listening to your nonsense.
 

IUXC68

All-Big Ten
Dec 12, 2003
3,257
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You are one of the biggest phonies on the board. I pity anyone listening to your nonsense.
Just for the sake of those of us trying to make sense of this, why didn't you answer the OP's question about what you do for a living?
 
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VanPastorMan

Hall of Famer
Mar 21, 2002
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Central Pennsylvania Via Washington Indiana
You are one of the biggest phonies on the board. I pity anyone listening to your nonsense.
My people seem to love me and I love them. And the most important thing is we love Jesus together. It's real life and if you would seriously consider the claims of Christ you could be saved too. You would experience the love of God that saves souls. God gave His Son to die on the Cross to pay the penalty for our sins because He loves us. When you accept it, you have the confidence that your sins are forgiven and that you possess eternal life. Again, it's real life.
 

IUXC68

All-Big Ten
Dec 12, 2003
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Paid hater
Not at all. Been a poster for over 15 years, and don't do it often. Seemed like a simple question to me, trying to understand the subject. You might want to go back and look at my original post, just to get what I was looking at.
 
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hookyIU1990

Senior
Gold Member
Sep 26, 2007
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Just for the sake of those of us trying to make sense of this, why didn't you answer the OP's question about what you do for a living?
Where did the OP ask anything about what any of us do for a living? What are you trying to male sense of?

Maybe, just maybe, some people don't think it's anyone's business.
 

hookyIU1990

Senior
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Sep 26, 2007
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My wife and our best friends have a competition every year on who gets the most back. I tell my wife it isn't a competition I want to win and that it is money we didn't save or use for something else. I am glad we won this year though. We owe less than they do! Yay us!
That's a tough one. My sister-in-law and brother-in-law look at it as forced savings and then they crow about the refund and badger us about ours. One time my wife said we'd rather keep it in our pocket and they couldn't fathom that idea.
 

UncleMark

Hall of Famer
Sep 1, 2001
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That's a tough one. My sister-in-law and brother-in-law look at it as forced savings and then they crow about the refund and badger us about ours. One time my wife said we'd rather keep it in our pocket and they couldn't fathom that idea.
I've never had a refund of any consequence. I suppose that's a function of my low income, but a couple hundred bucks doesn't make a big difference in my life one way or the other. I see where the average tax refund is over $2500; that would be a nice chunk of coin, but getting that much back would mean I made a helluva lot more money than I do, so relatively it probably wouldn't be that big a deal for me then, either.
 

cryano

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Apr 19, 2005
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That's a tough one. My sister-in-law and brother-in-law look at it as forced savings and then they crow about the refund and badger us about ours. One time my wife said we'd rather keep it in our pocket and they couldn't fathom that idea.
I like getting a refund - as Inpay tuition for kids with it - I know its ‘dumb’ to give the ‘interest free loan’...but its what works for me.

I also look at the taxes I paid yearly, and the effective tax rate % to see real figures - but the return is nice!
 

MyTeamIsOnTheFloor

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Dec 5, 2001
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Duckburg
Not at all. Been a poster for over 15 years, and don't do it often. Seemed like a simple question to me, trying to understand the subject. You might want to go back and look at my original post, just to get what I was looking at.

I meant HE was a paid hater
 

Rangeline Fan

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Mar 22, 2007
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My return was only 46% of what it was last year. When I factor in how much wasnt withheld for my check this year as compared to last year, I came out a little ahead.

The inability to take many of the personal business deductions killed me. Disappointed that my return was less than half, but overall it worked out. Just a shock that it was that much less.
 

McNutt76

Hall of Famer
Sep 1, 2001
13,929
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Say what you want...the Donald has made this year’s filings very lucrative!

Made more money
Paid less in taxes!
Bigger refund
Lower effective tax rate!

Paid less in taxes being the priority!!!!
Our refund is going to be considerably less this year because I can't deduct my business miles now. I normally drive about 25,000 business miles a year.
 

alax2

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Jul 21, 2003
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That has been the typical case for most of the tax returns I have done, especially larger refunds since less was deducted.
I don't understand. The OP claims larger refunds and you agree because less was deducted during the year. How is that possible that the refunds were larger than in the past when less was withheld in the first place?
 

Rangeline Fan

Hall of Famer
Gold Member
Mar 22, 2007
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I don't understand. The OP claims larger refunds and you agree because less was deducted during the year. How is that possible that the refunds were larger than in the past when less was withheld in the first place?
When you take into account what wasnt withheld combined with what was actually was returned, that was more than the total amount previously. You have to compare apples to apples when comparing 2018 to 2017...and there is a component missing from 2018 in that comparison if you don't take into account the savings of what wasnt initially deducted upfront.

Of course the other way to look at it is the percentage of return received compared to what was actually withheld...which may be the amount returned vs initially deducted was a higher percentage in 2018 than 2017 even though the amount returned was actually a smaller amount.
 

bshields

Junior
Aug 28, 2001
1,328
280
83
I don't understand. The OP claims larger refunds and you agree because less was deducted during the year. How is that possible that the refunds were larger than in the past when less was withheld in the first place?
Sorry, just realized there was a typo. Should have been “has NOT been the cese”. Meant to contradict, not agree. That little “not” was pretty important.
 

alax2

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Jul 21, 2003
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Sorry, just realized there was a typo. Should have been “has NOT been the cese”. Meant to contradict, not agree. That little “not” was pretty important.
That makes sense to me now.
 

outside shooter

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Oct 23, 2001
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I was listening to a financial show on the radio this weekend and they claimed that:

The number of Americans getting a tax refund this year is down by about 30%.
The average amount of refund, for the people that are getting them, is down by about 40%.

A lot of the decline is due to some deductions disappearing, like refunds of state and local taxes. Some other deductions went up, however.

This doesn't necessarily mean that people are paying more, since it could also be that employers didn't adjust quite right to the new laws and didn't withhold enough to make the numbers work out as they did in the past.
 

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