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Your 2018 tax return......how did the changes affect you?

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posted on Feb, 8 2019 @ 08:35 PM
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On about $3000 less income (I worked a lot less OT in 2018), I will receive a $197 refund instead of owing $108 as I did last year.

I also got an additional $30 after taxes from each biweekly check during 2018.

$977 additional in my pocket. Crumbs indeed...




posted on Feb, 8 2019 @ 08:43 PM
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a reply to: dfnj2015




I once had an argument about having a flat tax with someone from a red state

You spoke to someone in Russia on flat taxes in the US ?



posted on Feb, 8 2019 @ 09:34 PM
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edit on 282019 by Sillyolme because: (no reason given)



posted on Feb, 9 2019 @ 04:34 PM
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originally posted by: FredT
a reply to: burdman30ott6

That would be true if I was complaining about my STATE taxes but thats just federal. I added a line in my rant to make clear its the Feds bending me over. The state taxes were flat this year


It may have something to do with the fact that you can no longer claim the state income tax as a deduction from the federal income tax. This was stopped to keep the Fed government from effectively subsidizing high income tax states.



posted on Feb, 9 2019 @ 04:37 PM
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originally posted by: RickinVa
My case is fairly simple... I file short form every year.


My taxes for the year 2018, I gained $250.00 on federal....I lost $445.00 on state.


Ky lowered the non-taxable retirement exemption from $41,110 to $31,110


That caught me off guard because I have always got a full refund from state. I have searched but can't find the reason for the change, to see if it was due the new tax laws.


Basically I got a negative $250 bottom line.



Nearly everyone I know owes this year. I haven’t done mine yet, too afraid to see results .



posted on Feb, 9 2019 @ 04:59 PM
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originally posted by: Hypntick
So my mother and I had a talk about income recently, and we talked about what we brought home each month. I honestly have no idea how she lives, and she makes pretty decent money. I on the other hand fall into that 10% of single earners over 100k, which when you get used to it, doesn't really seem like much...until you're around people who don't earn that much, puts it into perspective.


Life living in rentals, driving old cars and budgeting every penny is very different and it's how most of us live. The working poor work every bit as hard and at times harder than the high income earners.

Punishing the job creators with obscene taxes is certainly not going to make the middle class grow. The more government control and the higher the taxes, the closer it puts us to a two class society IMO and we are well on the way that direction.

As much as I dislike Trump and I do dislike him, I approve of what he's trying to do.



posted on Feb, 9 2019 @ 07:17 PM
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originally posted by: Lumenari
a reply to: Metallicus

ETA... my dream is to juggle everything around to where I get $1 for a federal return.

That way I gave them nothing more than I owed and they would have to do all the work... and then send me a dollar.



Last year, I ended up with a $3 refund from federal and $0 owed to state. Woooeee, closest to the mark I've ever come.

This year my taxes are up about $500 (before accounting for dear daughter's taxable scholarship). I knew about the changes to withholding, had hubby change his withholding to hold out more, and still under withheld. Dang!
edit on 9-2-2019 by Mountainmeg because: forgot a word



posted on Feb, 14 2019 @ 11:39 AM
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On a side note:

I received my Federal Tax refund 8 days after filing. A record for me.



It would appear that people who file a short form are the ones seeing an increase, those that file long form with deductions appear to be getting less back.
edit on R412019-02-14T11:41:36-06:00k412Vam by RickinVa because: (no reason given)



posted on Feb, 14 2019 @ 12:13 PM
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a reply to: Blaine91555




The working poor work every bit as hard and at times harder than the high income earners.


I hate this kind of sentiment. People of all walks of life work hard, some rich, some poor.
Some people are just lazy. Some people work hard physically, some work hard mentally.


I do agree that we all want to keep more of our hard earned money.



posted on Feb, 14 2019 @ 12:27 PM
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My 2017 Federal Withholdings: 12,014.59
My 2017 Federal Return: $3,687

My 2018 Federal Withholdings: $11,058.64
My 2018 Federal Return: $4,015

Net gain of $1,283.


My state return went up slightly as well.



posted on Feb, 14 2019 @ 12:44 PM
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a reply to: RickinVa

Would that be because of the doubled standard deduction?
12k is a lot



posted on Feb, 14 2019 @ 12:56 PM
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a reply to: FredT

How? Are you paying more taxes or can you declare less? You live in CA and cannot write off local, state or county taxes. How is that the fault of the Federal Government.

I live in Florida. No states or locals. I got more in my check which means less to the Federal government. It is working. Now, if I could get healthcare for less since I paid 10k in premiums this year I would be happy.



posted on Feb, 14 2019 @ 12:57 PM
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a reply to: RickinVa

Correct because many of the things people used to simply 'write off' are not there anymore. Oh well.



posted on Feb, 14 2019 @ 01:01 PM
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a reply to: scraedtosleep

If you do not make that much or work part time you pay no Federal Income Tax. I work in this industry and I say people who make let's say 12 bucks an hour and work 28 hours a week pay zero federal income tax.

This is how it should work. What used to happen was this.

Person worked part time with 5 kids. Pays little income tax. Delcares all kids gets a 3k refund.

Trumps plan took care of this so of course people are pissed. Their 'free money' went about but earners in the middle class paid less in their checks and to be honest could care less if they only get back a little because they did not pay to much into it.



posted on Feb, 14 2019 @ 01:07 PM
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a reply to: matafuchs

Same here. I get no money withheld from any compensation. No way I want the Federal Government being a 0% interest piggy-bank for me all year. (If I die, the government keeps the money. Heirs rarely file taxes for a deceased.)

For the past 20+ years, I file on April 13th, because I owe money. It's a lot easier now, with software. No need to have an accountant do it. Technological progress has been very good for consumers, in most areas.



posted on Feb, 14 2019 @ 01:26 PM
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How many here understand that it's only going to get worse... not better.

In 2025, the individual tax cuts you might be enjoying now, will expire. Corporate tax rate cuts will be made permanent.

Individual tax rates will increase after 2025 to pay for the permanent tax cuts on corporations.

And here's the kicker.... your tax bracket will change as well. The GOP tax plan includes an inflation measure called chained CPI.... the result of which will push individual filers into higher tax brackets while the value of many tax credits remains effectively unchanged. You'll be paying more taxes on the same income without an increase in exemptions to adjust for inflation...

Anyone feeling like they've been screwed? Don't worry, you will....



posted on Feb, 14 2019 @ 01:29 PM
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a reply to: Blarneystoner

Against the GOP plan then eh? Well let Dems win, they plan to tax even higher and have the govt take care of you. Don't like that option either? Too bad. Leave the country I guesss?



posted on Feb, 14 2019 @ 01:31 PM
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originally posted by: Blarneystoner
How many here understand that it's only going to get worse... not better.

In 2025, the individual tax cuts you might be enjoying now, will expire. Corporate tax rate cuts will be made permanent.

Individual tax rates will increase after 2025 to pay for the permanent tax cuts on corporations.

And here's the kicker.... your tax bracket will change as well. The GOP tax plan includes an inflation measure called chained CPI.... the result of which will push individual filers into higher tax brackets while the value of many tax credits remains effectively unchanged. You'll be paying more taxes on the same income without an increase in exemptions to adjust for inflation...

Anyone feeling like they've been screwed? Don't worry, you will....


Yeah but clearly you don't realize the point is to position the Dem's to be in power when they expire so we can blame the Democrats for everything.

Simple really.



posted on Feb, 14 2019 @ 01:34 PM
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originally posted by: jjkenobi
a reply to: Blarneystoner

Against the GOP plan then eh? Well let Dems win, they plan to tax even higher and have the govt take care of you. Don't like that option either? Too bad. Leave the country I guesss?


Oh you think I'm just GOP bashing? You still stuck in the us verses them mode? When are you going to wake up and realize that it's not about Republicans verses Democrats? Mindless sheep like yourself have no clue what's really going on.

edit on 14-2-2019 by Blarneystoner because: (no reason given)



posted on Feb, 14 2019 @ 01:52 PM
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a reply to: Blarneystoner

I have. I voted for Trump who is really not a Republican and really not a Democrat. You can say he is a Republican and be a sheep like you called us who support our president but that would just be inline with Democratic thinking so I guess you are really not awoken at all yet are you?



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