Quote:
Originally Posted by Woody38
Maybe I'm in the minority here. Basically same income in 2018 as 2017. The difference is that in 2018 we ended up owing just under $4,000 when we filed our taxes. Also, we increased the withholding during 2018. Now, if I take the same deductions in 2018 as in 2017 we would have owed an additional $485. How is that tax reform working. Eliminating most deductions. Don't get me wrong, I have no problem with paying taxes. Fortunately. we are not in the situation where we are living minute to minute.
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I am a retired workaholic and continuing aquaholic
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It’s a very long and exhausting discussion but most tax payers had smaller refunds or larger amounts due but this was the result of greatly reduced withholdings not higher tax rates when in fact most paid less in tax as a whole with lower tax rates. Obviously many factors and no two tax returns are alike. Generally when taxpayers have paid more in 2018 was the result of living in highly taxed states like NY MA NJ CT CA
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