US Gaffers, have you done your taxes? How has this reform treated you?

RiccochetJ

Member
Jan 5, 2010
12,021
438
770
Here in the US, the deadline for filing your taxes is tomorrow April 15th.

I'm pretty happy with how it turned out. I adjusted my W4 and this year I got a refund of $35. I'm in the sweet spot. On a state level, I don't have a clue. I live in Colorado and last year I owed $300 and this year I got a refund of $420. I don't know what changed state wise but I'm completely OK with getting a refund.

I figure a lot of you were a hell of a lot better than me and filed months ago, but how did it turn out for you? It's a bit of a mixed bag for me. I actually got to deduct a lot more last year, but this year, I get to just take the federal 12k version because it's more. At the same time, what I got taxed last year was a lot more than what I got taxed this year so it balances out. If I'm being honest, the dollar amount I'm paying in taxes is about the same, but I got a decent raise this year.

My taxes were very simple this year. How about you?
 

greyshark

Member
Feb 15, 2011
1,303
262
590
St. Louis
My tax liability was a lot less than last year - mostly because of the child tax credit. I was able to itemize this year but will likely never have to do it again - taking the standard deduction should simplify my taxes moving forward.

I got a big refund again, but would rather adjust my withholdings to get it closer to zero come tax time. Will mess with my W4 to try and get closer this year.
 

haxan7

Member
May 9, 2016
1,719
1,707
295
Owed about double what I normally do. Part of that was from picking up a small amount of 1099 work but that was less than 10% of my total income.
 

Azzurri

Member
Jun 13, 2007
7,107
132
995
Either you have fuck you money and what you're saying has little to no consequence. Or you haven't been paying taxes for a while.
Lol I don't owe back taxes, it's because I had a pretty big Bonus last year. I'm sending out the check today.
 
Last edited:
  • Like
Reactions: RiccochetJ

VAL0R

Member
Nov 14, 2017
860
851
250
I have eight kids and they doubled the child tax credit. Let's just say that homie got paid.
 

Pagusas

Member
Jun 9, 2006
10,487
695
1,145
Prosper, Tx
Got bit in the ass. Thanks to the withholding calculations error my wife and I (married no children) ended up being short almost 7k. Luckily no penality thanks to the law change and option to avoid a penalties by citing it, but still it was a bad tax year. Both of us had our w2’s as married, filing joint, 0.
 
Last edited:

JORMBO

Darkness no more
Mar 5, 2009
5,838
2,472
1,115
I got $1k back which is normal. Throughout the year I got around $2.5k more back in my paychecks from the tax cuts bill. I’ll take an extra $2.5k :)
 
Feb 23, 2018
425
772
190
I got about $1200 back, and I'm still salty over it. I'm a single guy without dependents, so to my understanding a withholding credit of 1 is the most I can legally claim.

I don't bust my ass for 60 hours a week just to give the government an interest-free loan all year.
Wouldn't that allow you 2? I am in the same situation and used to do 3 and still ended up with a refund somehow, but this year 3 had me owing money for the first time ever. Went back to 2 for 2019, but honestly id rather pay them at the end of the year than the other way around.
 

greyshark

Member
Feb 15, 2011
1,303
262
590
St. Louis
Got bit in the ass. Thanks to the withholding calculations error my wife and I (married no children) ended up being short almost 7k. Luckily no penality thanks to the law change and option to avoid a penalties by citing it, but still it was a bad tax year. Both of us had our w2’s as married, filing joint, 0.
I owed a bunch unexpectedly the first year after I got married - turned out that filing Married (at the federal level at least) is assuming you’re a one income household. Having two incomes is far too high an income to use the married exemption, I switched back to single after that.
 

ClanOfNone

Member
Nov 24, 2018
185
129
185
I have eight kids and they doubled the child tax credit. Let's just say that homie got paid.

8, I can't even begin to imagine what that is like. I'd like to try for a third in Hope's of getting my boy, but I'm getting a bit long in the tooth to be procreating.
8 though, fuck me, I salute you sir. Two is quite the handful already, adding six more into the mix.... I know what my food bill is with just me and the girls.
 

Pagusas

Member
Jun 9, 2006
10,487
695
1,145
Prosper, Tx
I owed a bunch unexpectedly the first year after I got married - turned out that filing Married (at the federal level at least) is assuming you’re a one income household. Having two incomes is far too high an income to use the married exemption, I switched back to single after that.
We've been married for 5 years, the last 3 we've had our taxes perfect (owed nothing, refunded nothing). This is the first time we've ever had this happen.
 

appaws

Gold Member
Jan 31, 2008
2,349
777
1,040
Taylorsville, Ky!
Fuck me, I owe $6,500
Got bit in the ass. Thanks to the withholding calculations error my wife and I (married no children) ended up being short almost 7k. Luckily no penality thanks to the law change and option to avoid a penalties by citing it, but still it was a bad tax year. Both of us had our w2’s as married, filing joint, 0.
Yeah, my wife and I had to pay 6200. Went in and both adjusted our withholding so that we won't have to deal with it again.

I support Rand Paul's proposal to replace the income tax with a national sales tax.
 

Pagusas

Member
Jun 9, 2006
10,487
695
1,145
Prosper, Tx
Yeah, my wife and I had to pay 6200. Went in and both adjusted our withholding so that we won't have to deal with it again.

I support Rand Paul's proposal to replace the income tax with a national sales tax.
Same. We changed both of our witholdings to married filing as single. Our accountant will have a look at our numbers in July and we’ll adjust as needed from there to keep it from happening again.


One good thing to come out of this, I feel kinda rich from it. By that I mean we’ve reached a finical point in our lives where a sudden surprise 7k expense was basically a shoulder shrug and “well that sucks, oh well, pay it, fix it and move on”. Like i didn’t have to move money around, didn’t have to think about it, just 7k less in the account but it’s such a tiny amount it didn’t even bother us. Years ago that would have been majorly stress inducing
 
Last edited:

Alfen

Member
Nov 12, 2018
117
97
180
I got about $1200 back, and I'm still salty over it. I'm a single guy without dependents, so to my understanding a withholding credit of 1 is the most I can legally claim.

I don't bust my ass for 60 hours a week just to give the government an interest-free loan all year.

Same here. Got about 1500 CAD back...I asked my tax filing adviser if it be better to ask my employer to reduce the taxed percentage of my income but she said its never a good idea to do this,
 

Super Mario

Member
Nov 12, 2016
803
853
250
There's nothing worse than the bunch of losers making their rounds on social media to complain that their refund is smaller because of "tax cuts to businesses". Can't understand they made more throughout the year, and use the tax refund as their only savings plan, to ultimately blow that money as soon as they get it.

Yeah, my wife and I had to pay 6200. Went in and both adjusted our withholding so that we won't have to deal with it again.

I support Rand Paul's proposal to replace the income tax with a national sales tax.
Rand has a lot of good ideas. This one is terrible. People will find ways to skate that tax far easier then they can for income. I'm no sympathizer of the poor, but that tax would kill them. Our system just needs to be streamlined. Get rid of all of the deductions and credits. Stop paying people to have kids. Stop letting people lower their tax liability by claiming a bunch of bs. Let everyone pay the same rate for their tax bracket. A hybrid of our current system with brackets and flat tax.
 
  • Like
Reactions: infinitys_7th

appaws

Gold Member
Jan 31, 2008
2,349
777
1,040
Taylorsville, Ky!
Rand has a lot of good ideas. This one is terrible. People will find ways to skate that tax far easier then they can for income. I'm no sympathizer of the poor, but that tax would kill them. Our system just needs to be streamlined. Get rid of all of the deductions and credits. Stop paying people to have kids. Stop letting people lower their tax liability by claiming a bunch of bs. Let everyone pay the same rate for their tax bracket. A hybrid of our current system with brackets and flat tax.
Nah, we need to pay people more to have kids because we need more kids. My understanding is that rents and food are exempted from the tax, and because the poor spend such a high percentage of their income on those things, it would not hit them badly at all. Also, it would encourage work and savings and discourage consumption, which are good things in the long term.

I would oppose the idea if it did not exempt rents and food.
 

spandexmonkey

Member
Dec 17, 2009
1,587
163
690
Memphis, TN
Wife and I both work, no kids. Used to owe at the end of every year, first time in a long time we actually got a refund. Nearly cried.
 
Last edited:

Sub_Level

wants to fuck an Asian grill.
Apr 9, 2009
27,543
2,178
1,015
Owed about double what I normally do. Part of that was from picking up a small amount of 1099 work but that was less than 10% of my total income.
And only half of that gets added to your taxable income so its really more like less than 5%. The thing is, you have to pay social security and medicare. You could have 0 taxable income with deductions, but SS/Med gets added after the fact so you'd still owe.

Hopefully you benefited from the new qualified business income deduction. There's a carryover for next year if you didn't use it this year.

I'm no sympathizer of the poor
We already know you vote republican breh.
 

ChuyMasta

Member
Jul 29, 2011
2,497
75
520
Colorado
I got back enough to open up a CD account with 3.1% APY

This is by no means bragging. I just did not adjust withholdings at all due to ignorance and now Im doing whatever I can to recover that loss.

It hurts. Specially as a teacher in CO. You've probaly seen the news about DPS and Jeffco.
 
Last edited:

infinitys_7th

Member
Oct 1, 2006
3,649
3,251
1,090
I got back enough to open up a CD account with 3.1% APY

This is by no means bragging. I just did not adjust withholdings at all due to ignorance and now Im doing whatever I can to recover that loss.

It hurts. Specially as a teacher in CO. You've probaly seen the news about DPS and/Jeffco.
Oof, don't do that. No need to tie your money up for an okay rate when you can get better in a checking account.

Not to shill, but look at Heritage Bank in MN. Their rewards checking gets 3.33%, and is very low hassle to get the high rate (make 10 debit card purchases a month, receive e-statements, log in to your account once a month). I buy 10x $0.50 gift cards on Amazon once a month to get the rate.

You can put in up to $25,000 at that rate and can withdraw it anytime, unlike most CDs, by transfer or check. It's perfect for an emergency fund.

Ally Bank and other banks are good too, but Heritage has the highest rate with the easiest-to-follow conditions, if you have money you want to put away for later use.
 
  • Like
Reactions: ph33rknot

MastAndo

Member
Oct 13, 2014
868
170
310
Got back $700 or so which is less than last year, but I'm just relieved that it takes me like, 10 minutes to do my own taxes nowadays..
 

ChuyMasta

Member
Jul 29, 2011
2,497
75
520
Colorado
Oof, don't do that. No need to tie your money up for an okay rate when you can get better in a checking account.

Not to shill, but look at Heritage Bank in MN. Their rewards checking gets 3.33%, and is very low hassle to get the high rate (make 10 debit card purchases a month, receive e-statements, log in to your account once a month). I buy 10x $0.50 gift cards on Amazon once a month to get the rate.

You can put in up to $25,000 at that rate and can withdraw it anytime, unlike most CDs, by transfer or check. It's perfect for an emergency fund.

Ally Bank and other banks are good too, but Heritage has the highest rate with the easiest-to-follow conditions, if you have money you want to put away for later use.
My man. Let me do some research on this. I did not know there were checking accounts with such rates.
 

Corderlain

Member
Jun 12, 2018
525
576
220
Finished my taxes on Friday. I made out alright with a few hundred bucks. My fiancee claimed all the kids and made like 3k so we're both pretty happy.
 

#Phonepunk#

Member
Sep 4, 2018
2,903
3,320
265
lol jealous of people upset at how little they are getting back, im having to pay a couple thousand.

last year ive made the most i ever made so im not surprised
 

rykomatsu

Gold Member
Jan 2, 2008
4,398
41
1,035
My tax burden was a bit less - standard deduction for CY2018 is about the same as my mortgage deduction for CY2017, but the reduction in dividend tax rate helped a good amount since I have positions making for a decently sized chunk of REIT investments.

I fall under middle class - definitely feeling the benefit
 
Dec 22, 2007
3,822
176
895
My return was identical, to the penny, to the past three years.
My financial status hasn't changed at all, and I've had no major expenses, so I didn't expect any change.

But still, I work for the damn government! Who's supposed to benefit from these tax cuts if not me? What the hell is the point of corruption if I don't get some of the pie?
Worst. President. Ever.
 
  • Fire
Reactions: <+)O Robido O(+>

It's Jeff

Member
Aug 28, 2015
460
545
280
Awful, thanks for asking. I'd had almost 40,000 withheld and I STILL ended up owing money to federal. Thanks, government that somehow thinks being single needs to be penalized. 5 stars, would recommend to friends and family.

State gave back a couple hundred, so thumbs up for that I suppose.
 
  • Fire
Reactions: Mihos

davepoobond

you can't put a price on sparks
Apr 26, 2006
44,563
179
1,275
California
www.squackle.com
Awful, thanks for asking. I'd had almost 40,000 withheld and I STILL ended up owing money to federal. Thanks, government that somehow thinks being single needs to be penalized. 5 stars, would recommend to friends and family.

State gave back a couple hundred, so thumbs up for that I suppose.
So you make like 200k a year?
 

iconmasterX

Member
Jan 27, 2018
2,614
3,262
300
I believe it benefited us, but mainly in reduced withholdings. My wife took on a part-time contracting job that we weren't paying taxes on (we're doing estimated tax payments this year), so her taxes cancelled out my refund. Between federal and state, we got $200 back overall.
 

Mihos

Gold Member
May 10, 2009
5,572
588
800
steamcommunity.com
I paid less over all this year than last year. Smaller return, but I am keeping more every month.

Awful, thanks for asking. I'd had almost 40,000 withheld and I STILL ended up owing money to federal. Thanks, government that somehow thinks being single needs to be penalized. 5 stars, would recommend to friends and family.

State gave back a couple hundred, so thumbs up for that I suppose.
I paid more in taxes this year, than I grossed all 6 years I was in the military, so I feel your pain.
 
Last edited:
  • Like
Reactions: It's Jeff