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  1. #1
    Registered User BearyManilowe's Avatar
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    Year 2 of Tax Reform boys, how we holding up?

    Year 2 of tax reform in the books. Anyone file yet? Trump's tax law helping? Hurting? Are you in deep with Uncle Sam or are we skirting by at a net zero these days?

    My wife making significantly less than me really takes its toll on the Federal side of things but Stateside evens us out so I'm floating right around $60 net gain on my tax return.

    I try to float around the $0 mark on Feds but they hit me hard this year.

    How are you guys holding up?
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  2. #2
    Banned OPGenesis's Avatar
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  3. #3
    Author/Trainer 2020Wellness's Avatar
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  4. #4
    Registered User dcbone30's Avatar
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    Got an 8k return this year. I know its effectively money I gave the gov't over the year but dont know how to reduce it so my paycheck is bigger lol
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  5. #5
    Banned OPGenesis's Avatar
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    Originally Posted by dcbone30 View Post
    Got an 8k return this year. I know its effectively money I gave the gov't over the year but dont know how to reduce it so my paycheck is bigger lol
    Claim 1
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  6. #6
    Registered User Polaris's Avatar
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    No I haven't, I'm not expecting to get much back though.
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  7. #7
    Proud Dad 5x10's Avatar
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    I payed at least 7k less , I’m sure it’s more cause I made more than i expected but haven’t run a calculator on my higher income
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  8. #8
    Banned OPGenesis's Avatar
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    Originally Posted by 5x10 View Post
    I payed at least 7k less , I’m sure it’s more cause I made more than i expected but haven’t run a calculator on my higher income
    Well, how about running a calculator, Einstein?
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  9. #9
    Proud Dad 5x10's Avatar
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    Originally Posted by OPGenesis View Post
    Well, how about running a calculator, Einstein?
    go for it

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  10. #10
    Registered User dcbone30's Avatar
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    Originally Posted by OPGenesis View Post
    Claim 1
    I think I claim 5. Still getting huge returns.
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  11. #11
    Talk To Rudy NYPat's Avatar
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    Why did Trump make cuts for the middle class temporary, while making tax cuts for the rich permanent?

    And why did he trick people by reducing their paycheck withholdings to make them think they were getting more money in their paychecks?
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  12. #12
    Registered User jeffl1980's Avatar
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    Originally Posted by dcbone30 View Post
    I think I claim 5. Still getting huge returns.
    Children? If so, how many?
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  13. #13
    Registered User redmelly's Avatar
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    Originally Posted by dcbone30 View Post
    Got an 8k return this year. I know its effectively money I gave the gov't over the year but dont know how to reduce it so my paycheck is bigger lol
    Increase your allowances by 1 or 2 on your w-4.
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  14. #14
    Registered User jeffl1980's Avatar
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    Originally Posted by NYPat View Post
    Why did Trump make cuts for the middle class temporary, while making tax cuts for the rich permanent?

    And why did he trick people by reducing their paycheck withholdings to make them think they were getting more money in their paychecks?
    I'm guessing the Senate Democrats didn't vote for it?

    Shame on your party.....

    https://www.cnbc.com/2018/09/28/hous...permanent.html
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  15. #15
    Medallion Wearing CEO10k Ephedra's Avatar
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    Originally Posted by NYPat View Post
    Why did Trump make cuts for the middle class temporary, while making tax cuts for the rich permanent?
    Trump's proposed budget makes the middle class tax cuts permanent.
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  16. #16
    Verified Aesthetic rhadam's Avatar
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    I've sent my W-2s to my tax preparer but she hasn't filed yet for me. Probably break even just about, or like 1-2k back from the feds. Had a huge year for my investments so i'm not even mad.
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  17. #17
    Registered User redmelly's Avatar
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    I am saving a few thousand a year on taxes. However, the real gains are in the salary and bonus increase because of the company doing so well. Also seeing a 23% return on my 401k.

    saulgoodman.
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  18. #18
    Bonafide Stud HoganIsGOAT's Avatar
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    I'm paying out of pocket again. So glad the rich could get a tax break out of this.
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  19. #19
    Registered User BearyManilowe's Avatar
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    Originally Posted by redmelly View Post
    I am saving a few thousand a year on taxes. However, the real gains are in the salary and bonus increase because of the company doing so well. Also seeing a 23% return on my 401k.

    saulgoodman.
    The 401k my company uses saw a 31% return last year. Our advisors were like "plz don't get used to this, this is insane"

    Originally Posted by OPGenesis View Post
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  20. #20
    Registered User redmelly's Avatar
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    Originally Posted by BearyManilowe View Post
    The 401k my company uses saw a 31% return last year. Our advisors were like "plz don't get used to this, this is insane"



    My guy
    Great returns. I have a mix of conservative and aggressive which brings my average returns a bit down. My in laws who are Trump haters pulled their money out of the market a couple of years ago. Doh!
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  21. #21
    Maximum Effort gixxer0.6g's Avatar
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    Making more and taxed less. Maga winning
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  22. #22
    Talk To Rudy NYPat's Avatar
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    Originally Posted by jeffl1980 View Post
    I'm guessing the Senate Democrats didn't vote for it?

    Shame on your party.....

    https://www.cnbc.com/2018/09/28/hous...permanent.html
    Click site so I can't read but it looks like this was from 2018 when the Republicans had control of the House and the Senate..
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  23. #23
    Talk To Rudy NYPat's Avatar
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    Originally Posted by HoganIsGOAT View Post
    I'm paying out of pocket again. So glad the rich could get a tax break out of this.
    Weird how you're posting again.

    You literally turned your avi into a Russian flag during the 2016 election..
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  24. #24
    Registered User jeffl1980's Avatar
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    Originally Posted by NYPat View Post
    Click site so I can't read but it looks like this was from 2018 when the Republicans had control of the House and the Senate..
    They had control by a narrow margin. They didn't have enough votes to push it through the Senate, thanks to zero backing from dems.
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    I just filed yesterday, owed $1,225. I don't notice any decrease from previous years. Is his tax cut really helping the middle class?
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    Originally Posted by yeshli2nuts View Post
    I just filed yesterday, owed $1,225. I don't notice any decrease from previous years. Is his tax cut really helping the middle class?
    Your take home should be more.
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    Originally Posted by NYPat View Post
    Click site so I can't read but it looks like this was from 2018 when the Republicans had control of the House and the Senate..
    Bernie will fix that by raising taxes on the middle class.
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    Originally Posted by jeffl1980 View Post
    Your take home should be more.
    This is what people failed to realize. It's like, get $100 more in your check and don't bother to find out why. Then they get nothing back when they file and wonder why. I have heard this scenario a lot.
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    Originally Posted by Halfway View Post
    Bernie will fix that by raising taxes on the middle class.
    He would raise them on everyone. He's itching to remove that fica cap. That alone would cost us about 15k more per year in taxes.
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