Tax Returns?

Discussion in 'Economics' started by sle, Apr 11, 2019.

My total tax return this year as compared to the year before is:

Poll closed May 11, 2019.
  1. 50% or more higher than last year (I live in SALT state)

    0 vote(s)
    0.0%
  2. 25% to 50% higher than last year (I live in SALT state)

    0 vote(s)
    0.0%
  3. roughly the same as last year (I live in SALT state)

    1 vote(s)
    9.1%
  4. 25% to 50% lower than last year (I live in SALT state)

    0 vote(s)
    0.0%
  5. 50% or more lower than last year (I live in SALT state)

    2 vote(s)
    18.2%
  6. 50% or more higher than last year (I live in no-SALT state)

    2 vote(s)
    18.2%
  7. 25% to 50% higher than last year (I live in no-SALT state)

    2 vote(s)
    18.2%
  8. roughly the same as last year (I live in no-SALT state)

    2 vote(s)
    18.2%
  9. 25% to 50% lower than last year (I live in no-SALT state)

    2 vote(s)
    18.2%
  10. 50% or more lower than last year (I live in no-SALT state)

    0 vote(s)
    0.0%
  1. This implies a seven figure income. I can't imagine a few points are changing your consumption. Plus, at that income your deductions are getting phased out anyway. If anything, you will probably just scale down on the donations. IMO, the introduction of the NIIT when obamacare got signed was more painful.

    On the other hand, all my friends with reg jobs are getting hurt pretty badly.
     
    #11     Apr 11, 2019
  2. srinir

    srinir

    We usually file our taxes in October. From initial estimation taxes will be down substantially, compared to previous year.
     
    #12     Apr 11, 2019
  3. destriero

    destriero


    You’re paid as a salaried PM with bonus. She is a Dir in telecom. She makes less than 200 before bonus.
     
    #13     Apr 11, 2019
  4. ETJ

    ETJ

    #14     Apr 11, 2019
    sle likes this.
  5. sle

    sle

    That's my sense, that the middle-middle class people in states with high local taxes are getting very seriously slammed. Gotta hit the consumption numbers, right?

    Well, you are there to make the family budget :D
     
    #15     Apr 11, 2019
  6. newwurldmn

    newwurldmn

    I thought refunds were up once the fed government opened.

    The tax reform was actually corporate tax reform. It had virtually no benefits to individuals other than the trickle down effect from corporations. Owners of non-professional c-corps and s-Corps really benefited.
     
    #16     Apr 11, 2019
  7. sle

    sle

    I was listening to some lady today who said the totals (federal and state) were very down, with a lot of people owing money.
     
    #17     Apr 11, 2019
  8. vanzandt

    vanzandt

    Yeah... from the stock buybacks. BTFD. :D
     
    #18     Apr 11, 2019
  9. ironchef

    ironchef

    My taxable incomes year over year are lumpy. 2018 Federal income tax is a little less with the new tax rates.
     
    #19     Apr 11, 2019
  10. smallfil

    smallfil

    You think that is bad. California is even far worst! State income taxes as much as 13%, vehicle license fees have increased to a couple of hundred dollars even for very old cars, property taxes sky high, rent sky high, sales taxes 10.50%, gas taxes being $0.58 per gallon on top of $0.184 per gallon in federal gas taxes. Californians love the high taxes anyways voting for the same no good politicians! Lots of homeless people too in Los Angeles now, over 30,000 people! And politicians want more illegals coming in and giving them benefits!
     
    #20     Apr 12, 2019