My tax refund is bigger this year: Trump's tax plan benefited me.

[AllUniverse17]

200 fucking dollars...

 

[Newlots]

Not dismissing claims either way, just keep in mind tax returns can be complicated. Fluctuations or changes to income, exemptions, dependents, write offs and expenses can change return amounts from year to year. One example is, I see people all the time that change there exemptions during the coarse of the year, plan to change them back and forget. That usually screws them at tax time and they're mad.

 

[HeathCliff]

Not dismissing claims either way, just keep in mind tax returns can be complicated. Fluctuations or changes to income, exemptions, dependents, write offs and expenses can change return amounts from year to year. One example is, I see people all the time that change there exemptions during the coarse of the year, plan to change them back and forget. That usually screws them at tax time and they're mad.

I used to do that from time to time. I would claim the max dependents for 4-6 months and go back for the rest of the year. That way, come tax time, I nor the government would owe each other.

 

[publicenemy]

It might have been unexpected but it wasn't free!

He's right. It wasn't free, It's money they took from your paycheck! A tax refund is the difference between taxes paid and taxes owed.

 

[Postalone]

This is really the first year we see the effects of Trump's tax plan. I got my 2018 W-2 today and just finished filing my taxes. Turbo Tax isn't free this year if you have a 401k plan. H&R Block was free, so I filed with then. Anyway, my tax refund is about $200 bigger than usual. We allegedly paid less income tax last year too. So I have to be honest and admit Trump's tax plan benefited me, some, this year. Still, a little more money in my pocket this year doesn't make up for how bad I feel this country has become under the Trump administration.

Same for me. I usually owe about $2500. This year only $400. That new $24,000 couples exemption is sweet. MAGA.

 

[Newlots]

Same for me. I usually owe about $2500. This year only $400. That new $24,000 couples exemption is sweet. MAGA.

The new standard deduction amounts is like a double edged sword. I can see some people with a home not being able to itemize because of the new high limit amounts, having to go with the standard deduction and getting less money back. For people without a business, a home is usually their biggest deduction when itemizing. It is going to be hard for most people midway through their mortgage to write it off now. Once again, the people in the middle get squeezed.

 

[Postalone]

The new standard deduction amounts is like a double edged sword. I can see some people with a home not being able to itemize because of the new high limit amounts, having to go with the standard deduction and getting less money back. For people without a business, a home is usually their biggest deduction when itemizing. It is going to be hard for most people midway through their mortgage to write it off now. Once again, the people in the middle get squeezed.

My situation was just the opposite. Even with the home I couldn't itemize. Now I'm all good. But, you're absolutely right. A lot of homeowners and families are going to get a lot less. Some people gonna be upset.

 

[jagu]

Man, I’m in California and for the last 8 years I’ve paid thousands. It’s gotten to the point that my accountant just files for an automatic extension and I file in October.

You’re better off owing than getting money back.

If you’re waiting until October to pay them then you are also paying interest and some penalties. I used to do the same until two years ago when I paid an ungodly amount of interest even though I had the money to pay in April.

 

[Black A. Camus]

My best friend started his own business in 2018 so he set aside $20,000 because he's new to this shit and scared they gonna rape him

Maybe the OP not use to making real money but 10k ain't shit for certain dudes in here making real money so yes I believe Dr Truth

Credit consolidation killed my credit so I'm in a credit repair program as soon as I get 3 more negatives off my shit I'm going to be a business owner myself plus my wife and I are in the process of purchasing our first home Of course with her credit score because her score over 800.

So OP I don't have money like alot of these established dudes in here mainly due to me getting a late start due to being an ex knucklehead and being younger than them but the closing cost for our potential home is around 10k and trust we not losing any sleep over it or the 20% we putting down on the house.

Maybe u need to hustle alil harder cause 10k is alot but really NOT NOT that's why ppl laughing at that $200 because in the mix of things everybody should be happy to get $200 (shit I picked up $1.50 in change off the ground a few days ago and felt like a winner the rest of the day) but that $200 chump change

I said I'm getting back $200 more than I usually get. My tax refunds are usually around $1600. This year I'm getting back a little over $1800. People here lie all the time. I just don't believe a lot of what people say here.

 

[jagu]

I said I'm getting back $200 more than I usually get. My tax refunds are usually around $1600. This year I'm getting back a little over $1800. People here lie all the time. I just don't believe a lot of what people say here.

I think it’s the fact that you’re excited about the Feds holding your $200 in a non interest bearing savings account for you that’s causing the ridicule. You should plan to owe them about $200 give or take.

 

[largebillsonlyplease]

You’re better off owing than getting money back.

If you’re waiting until October to pay them then you are also paying interest and some penalties. I used to do the same until two years ago when I paid an ungodly amount of interest even though I had the money to pay in April.

Yeah I just don't avoid what's coming
I want a clean break lol. Fuck it here motherfucker now leave me alone

 

[PDQ21]

I said I'm getting back $200 more than I usually get. My tax refunds are usually around $1600. This year I'm getting back a little over $1800. People here lie all the time. I just don't believe a lot of what people say here.

I feel u because alot of these nikkaz swear they ballers and bang straight dime bitches and they be lying their asses off lol

But idk if u go into the business threads but it's alot of sharp guys up in here that know their shit

I've learned so much from alot of these guys (the serious ones)

It's alot of homeowners, business owners, gun owners with a lot of great advise to share

 

[TheBigOne]

I hate Chump, all the people around him and all he says he stands for. But, have to admit that I’m doing much better, economically. And, nothing his people have actually done has hurt me—-yet

 

[mangobob79]

I think it’s the fact that you’re excited about the Feds holding your $200 in a non interest bearing savings account for you that’s causing the ridicule. You should plan to owe them about $200 give or take.

Hope u can renovate the whole kitchen with that return n perhaps add a marble countertop