You guys file your taxes yet?

[Techriding101]

I probably won’t file until Presidents’ Day weekend



But that’s based on your withholdings not your actual taxes paid unless your income and withholdings remained completely unchanged from last year

I got like 7 dollars federal and a few hundred state.

Also even though I don't like you, I'd suggest filing ASAP. It makes it harder for people to try and file under your name.

4 years ago some HR hag on the other side of the country fell for a phishing scheme and sent off everyone's w2 info.

Was such a pain fixing it.

[fleeceitout]

He lives in his grandma's basement.
Can't file taxes if you don't get a W2 form.

This is true.

[Xinroth]

If you get a big return, you're doing it very wrong.

I don't think over 3/4 of the people in 'murica know how taxes work. I know literally everyone in my family doesn't, not even for a worker with a simple W2.

Also, OP will get off at people that will say they're not get anything more, but ignore people that are paying $1-3 grand less in taxes overall compared to last year when adjusted to same income. The usual boring tactics.

[Techriding101]

I don't think over 3/4 of the people in 'murica know how taxes work. I know literally everyone in my family doesn't, not even for a worker with a simple W2.

Also, funny that OP will get off at people that will say they're not get anything more, but ignore people that are paying $1-3 grand less in taxes overall compared to last year when adjusted to same income. The usual boring tactics.

Yeah, the smaller your return the more accurate your tax rate was throughout the year.

The goal is to loan as little to the government as possible.

[JoshSP1985]

Yeah, the smaller your return the more accurate your tax rate was throughout the year.

The goal is to loan as little to the government as possible.

If you're really worried about loaning the government money set your withholding at ZERO and pay only exactly what you owe when you file. Tada you gave the gov zero interest free loans.

[Bushmaster]

If you get a big return, you're doing it very wrong.

Not always. Because of the money I spent on my rental properties I get to take some nice deductions and get some of it back. Just breaking even though would be better than having to pay again every April...

Return?! LMAO!

Or do you mean waiting for my butthole to return to normal after getting it plowed by the irs.

....

The goal is to loan as little to the government as possible.

No, the goal is to GIVE as little as possible the government.

[ImBunky]

If you're really worried about loaning the government money set your withholding at ZERO and pay only exactly what you owe when you file. Tada you gave the gov zero interest free loans.

You will have to pay quarterly, if you owe too much you will get a penalty.

[JoshSP1985]

You will have to pay quarterly, if you owe too much you will get a penalty.

Learn something new every day. Fuk paying quarterly.

[bryan324]

Curious what kind of bigly returns you are receiving compared to last year.

No frauding.

Being that I have a side hustle where I make about 12-15k/year without much overhead doubling the standard deduction was huge for me. I also got married so that doubled it again. Last year I paid in $1,700 or so, this year we're getting back $3,000. I also get about $40/week extra in my check

[chaunce54]

Gotta wait for some corrected forms, but it's looking like it will be about 20% better than last year.

[BearyManilowe]

I need 1098s from 4 mortgage companies this year and one is slacking so I haven't filed yet. I better have my 1098 this week though. I expect around $700 or so in returns which is less net than last year but I paid less mortgage interest this year. Next year it'll bump back up.

[bartosh]

Yeah got my taxes, filed, and now my return already

I withheld one extra fed and got roughly the same back

[Dan_S]

Started. A while back I had read someone say that while the 1040 form is actually shorter, they just moved everything to schedules.

Which seems to absolutely be the case. And it's actually made it a LOT more confusing and complicated.

I'm not particularly happy that I'm going to have to fill out quite a few schedules for what would've previously been a pretty simple 1040 (mostly dividends, possibly itemizing, but I doubt it).

[Mumra]

I want to say I netted about $800 return last year between Fed/State. This year with savings I get from the new tax bill and me spending more money fixing up my rental property than I did in 2017 I'm looking at almost $3K.

owing rental property is a great way to save on taxes. it probably saves me between 6%-8% every year.

[Bushmaster]

I want to say I netted about $800 return last year between Fed/State. This year with savings I get from the new tax bill and me spending more money fixing up my rental property than I did in 2017 I'm looking at almost $3K.

owing rental property is a great way to save on taxes. it probably saves me between 6%-8% every year.

B-b-but Bernie said tax cuts for teh rich!

[SmillironS]

Ranch broke even but the other 6 small businesses has me paying in just under 25k.

[Mumra]

B-b-but Bernie said tax cuts for teh rich!

yeah, they probably got some too. but It's working great for me. even better for married people with kids so long as one of the parents doesn't earn to much money. filing jointly for most couples is a big win, add in the increased child deduction and you're saving a lot of cash.

[scooterbrah]

nope. havent even prepared everything for my accountant yet. self employed and had a bigly 2018 so hoping the accountant can work his magic so I dont get pooned by the feds for more than another 30-40k. az wont be too bad. cali should be minimal.

[Retoaded]

I do quarterlies. I am told the tax cuts helped us out pretty big but I just have to take the CPA's word because we still cut checks 4x/year.

[|ceman]

just LMAO at anyone who thinks taking out a cash advance loan on your credit card is good fiscal sense.

[anonymous]

Not yet

I make the same money as I did last year but no longer own a million dollar house in CA or pay a huge amount of state tax so its not like I need to itemize anymore.

Be nice not to have to spend a whole day going over every statement and paying an expensive CPA to be as creative as possible, thanks Trump!

B-b-but Bernie said tax cuts for teh rich!

I had a childless, single, renter, in our no income tax state, who has no non W2 income or investments, who makes 6 figures, tell me how much worse the tax bill would be, despite him never itemizing in his whole life.

Bernie and CNN told him orange man bad

[JT11RTR]

I'm getting back less than last year, but my paychecks were more each month due to paying less in federal taxes. In the end, my net income was about the same as the previous year.

[Austanian]

If you are getting big returns you are doing it wrong.

Giving the Feds an interest free loan on your money isn't smart.

https://apps.irs.gov/app/withholdingcalculator/

Pretty damn accurate.

My effective tax rate went from 13% to about 1%. However, I am getting about 300 dollars back because I took the rest out in my paycheck every two weeks.

[Polaris]

I had another job prior to my current one that I'm still waiting on a W2 from, so I don't know yet. I'm gonna need to start getting on their ass if I don't receive it soon.

[5x10]

If you are getting big returns you are doing it wrong.

Giving the Feds an interest free loan on your money isn't smart.

[url]http

this guy has never had a commission job

[BadMonkeyFunker]

LMFAOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!

biggest tax cut ever ! put the country 1.5 TRILLION in the hole and look at all the answers... all the winning.. breakeven! $100 more ... fukin pathetic cucks.

MAGA!

[NitrogenWidget]

uh-huh.

can grandma claim you as a dependent?

[WrestlingFan123]

LMFAOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!

biggest tax cut ever ! put the country 1.5 TRILLION in the hole and look at all the answers... all the winning.. breakeven! $100 more ... fukin pathetic cucks.

MAGA!

lmao this same moron cheered Quantitative Easing under the Obama administration (aka 21st century Trickle Down Economics).

lmao

[IH8RICE]

hard to control for me, I’m paid monthly, am heavy commission and my companies payroll department annualizes my big check as they were bi weekly checks
So I’m effectively taxed at the highest tax rate all year and then get a refund at the end of the year

This. Getting about 8500 back but I never could really get down my withholding ebcause overtime was so crazy. We decided to just keep it at zero so we didn’t owe. May or may not do it differently this year. On track to make more so idk...

[jdo1]

You shouldn't look at how big your refund is. You should look on your 1040 and see what your tax liability was from last year and compare it for this year. Reason why you refund won't look as big is because you got more back from withholding less in 2018 from your check.