2019 Taxes and the "Big Break"

[Glock Jock]

Well I was made to understand that the big tax break would take affect this year more so than last year then I got done with my taxes. Sad to say that I'm getting almost half of what I usually do. Glad I'm getting something but certainly disappointed. I did make more money by several thousand and worked lots of OT but didn't expect this. Curious what other people are experiencing with our new tax system. Hopefully I just had the right circumstances and this isn't a common experience for everyone else. Good Luck this year!

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[Flymph]

Yep... I got about 3/4 my normal federal and same state.
Hoping 2019 tax year does me better, but I doubt that.

 

[Glock Jock]

I normally take home about $1350 and I got under $700 and owe the state $18. No toys this year I guess. Good thing I sold my cowboy gun and bought my first CZ that I pick up tomorrow!

 

[surevaliance]

Colonies started Revolutionary War because there was 13% taxation without representation.
Now we pay approx 70% in all kind of taxes: income, property, sale's, utilities, car tabs, social security, FMLA; other local state, county and city taxes, HOA... you name it.
Feeling happy yet? No worries, the more is coming!
California lawmakers demand investigation into mystery gas surcharge

 

[Stomper]

Dude.... I'm paying $500 every WEEK to Federal, State of Oregon isn't far behind that, then Social Security.... there's a $10k cap on deducting State and Local Taxes (aka SALT) which I EASILY exceeded and means I actually paid Federal tax on the taxes I paid to the State of Oregon.... awesome.

I do however take solace in knowing that the kool-aid drinking drones in "blue states" who keep voting for all this progressive sheite will feel more of "the burn" paying for it.... so there's that.


If more people ACTUALLY paid attention to the differences of the gross pay and net pay columns of their paychecks, things might actually change a bit.... but then again, facts don't matter so I doubt it.

 

[Member 5605]

I find it interesting that this year our largest difference is we will pay Oregon.

Both is us claim 0/zilch/nada on our W4.

We get taxed the absolute most we can but somehow this year Oregon has ramrodded us in the bubblegum.... with no Vaseline.

Gotta pay that PERS coffer.

It's almost like Oregon is taking us based on our gross and not net. I started filling out our forms and got pissed seeing how much Oregon was fawking is and put it away.

 

[notazombie]

You really want to feel the sting? I'm a 1099 taxed at 40%. That means no withholdings. I also own my home so instead of paying a portion of property tax every month with my mortgage and not feeling it, I pay it all at once. So I get to set aside a large portion of my earnings into an account and watch it grow all year, then write a fat check to the county and a much fatter one to the state and feds. Poof! All gone.

 

[Stomper]

I'm in Marion County where property tax rates are "comparatively low" to other counties, but we still shelled out $3k.... although it's not a shiny new "McMansion" and it's a 140 year old "continual work in progress", our house has 7 bedrooms and 3 bathrooms.... cough, cough.

4.5 more years until the mortgage is paid off!

 

[notazombie]

Getting out of Washington county and into a rural Idaho county cut my property taxes 75%.

 

[Black Dog]

If everybody had to pay their property tax's and income tax's out of their own pockets every quarter things would change. That's where the problem is they don't see it or feel it go out the door or have to come up with it.

 

[kmk1012]

We always (and I mean always) end up owing the state between $50-$100, this year is no exception. Zero difference here

 

[notazombie]

^^TRUTH^^
That's why I'm always complaining about the man taking and wasting my money.

 

[Stomper]

Getting out of Washington county and into a rural Idaho county cut my property taxes 75%.

I can theoretically punch out in 10 more years and collect my pension w/o a penalty.... I'm glancing towards the "American Redoubt" more and more as that time approaches.

 

[308]

For the record, we don't 'get' money....we paid too much and the dot gov used that too much all year long. They earned the intrest instead of us 'if' we had simply chosen to pay more into our qualified retirement fund. Dot gov is just returning the some of our overpayment and we have to jump through hoops providing them with a reason to give that $$ back

 

[notazombie]

This year's taxes will be interesting. We both got new jobs, changed states, lost the interest deduction, and shuffled our finances around. I have the equivalent to a new Corvette sitting in the bank and I'm honestly a bit nervous that when my accountant finishes up it won't be enough. Hope I'm wrong. It'll be great if there's a little left over so I can feel like I get a refund. But because of all the changes, I won't really be able to calculate whether I got a "tax break" or not. "Tax break", what an absolutely BS concept.

 

[Stomper]

For the record, we don't 'get' money....we paid too much and the dot gov used that too much all year long. They earned the intrest instead of us 'if' we had simply chosen to pay more into our qualified retirement fund. Dot gov is just returning the some of our overpayment and we have to jump through hoops providing them with a reason to give that $$ back

Precisely... I'd rather break even, or even owe a couple hundred based on that...

 

[Stomper]

This year's taxes will be interesting. We both got new jobs, changed states, lost the interest deduction, and shuffled our finances around. I have the equivalent to a new Corvette sitting in the bank and I'm honestly a bit nervous that when my accountant finishes up it won't be enough. Hope I'm wrong. It'll be great if there's a little left over so I can feel like I get a refund. But because of all the changes, I won't really be able to calculate whether I got a "tax break" or not. "Tax break", what an absolutely BS concept.

Like my father always said... there's only two things guaranteed in this life: death.... and taxes.

 

[notazombie]

Precisely... I'd rather break even, or even owe a couple hundred based on that...

But...then you don't get that check from your benevolent overlords. Free Obama money from da gummint!

 

[308]

Precisely... I'd rather break even, or even owe a couple hundred based on that...

That's cuz you are a genius
I talked with quite a few young co-workers ans oldmansplained how the deal works, and the basics of the 401k, the freemoneyemployermatch, and how reducing ones taxible income can pay for that 401k contrib. Some get it and have six-figures in savings in their mid-30s...like my wifey, others are like, 'but I won't get my big refund at the wnd of the year, and thats what we use for vacation"...

 

[Stomper]

The big scam is getting people to think of the money they EARN as belonging to the government, and the government deciding just how much of that money they're allowed to keep....