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Message
re: I'm dreading filing taxes this year
Posted on 1/23/23 at 5:36 pm to Glock17
Posted on 1/23/23 at 5:36 pm to Glock17
quote:
Didn't the standard deduction change?
It did, but not NEARLY enough to account for the expiring child and childcare credits for those of us idiots who decided to have children. I'm not looking forward to owing more, but it needed to expire. This wasn't like the Trump tax cuts. Frankly, I'm surprised democrats let it expire.
0
Posted on 1/23/23 at 6:35 pm to Northwestern tiger
Oh gosh. Nervous now haha. We got back 4-5k last year, so I adjusted our deductions to try and even it up. Might have overcompensated when you factor in the child deduction changes.
Posted on 1/23/23 at 7:18 pm to Pauvetibete
Please don’t do your own taxes.
Posted on 1/24/23 at 8:57 am to Northwestern tiger
quote:
Many tax benefits that is related to child tax credit, child care etc.. have expired this year.
People complain about welfare moms getting more benefits per kid, but they loooove them some child tax credits.
Meanwhile, childless folks are paying full freight taxes that support the schools and other services they don't use. Those who use the services most get the most deductions.
Posted on 1/24/23 at 9:05 am to Twenty 49
quote:
Meanwhile, childless folks are paying full freight taxes that support the schools and other services they don't use. Those who use the services most get the most deductions.
I have 3 kids and don't get child tax credits.
An educated population is important to have.
Posted on 1/24/23 at 4:24 pm to Pauvetibete
quote:
Claim those 401k losses. I know I'm down 28% YTD.
Posted on 1/24/23 at 4:28 pm to Northwestern tiger
quote:
STFU
go back to being a cuck on the poliboard.
what do you want here sympathy?
Posted on 1/24/23 at 4:51 pm to zbra24
quote:
State of LA changed tax code as well. They lowered the percentage but also did away with the federal tax deduction. They claim that tax payers who do not itemize will pay less in state taxes and those that do itemize will pay more. However so far what we have seen is those tax payers are paying more even when they take the standard deduction. Lots of folks going to be wondering why they owe the state when they never have in the past.
That seems hard to believe given the way the tax brackets now work. Are we talking about a larger total tax, or are people just under withholding and not realizing it?
ETA- just did a quick calculation on $150k AGI married filing jointly - state taxes would be about $130 lower under new system than the one in place in 2021.
This post was edited on 1/24/23 at 5:01 pm
Posted on 1/25/23 at 11:29 am to slackster
quote:
However so far what we have seen is those tax payers are paying more even when they take the standard deduction.
Exactly what I am seeing with my own. I owe about what I used to get back. Standard deduction.
Posted on 1/25/23 at 11:42 am to slackster
After further looking at the tax code we found that our software company has an error for LA tax filing. Supposed to be updated by the 26th so we will see how it shakes out.
Posted on 1/25/23 at 11:55 am to zbra24
quote:
software company
Which company?
Posted on 1/26/23 at 8:44 pm to Northwestern tiger
My refund was bigger this year than last. Not sure why. There may be hope for others too.
Posted on 1/26/23 at 11:15 pm to Twenty 49
quote:
People complain about welfare moms getting more benefits per kid, but they loooove them some child tax credits.
People hate handouts if they are not getting them. Many that claim to hate entitlements were most happy with the Covid handouts.
Posted on 1/26/23 at 11:28 pm to Northwestern tiger
I'm going to get killed this year.
I think both my accountant and financial planner both implied I need to get married and have kids so I'm not filing single lol.
I think both my accountant and financial planner both implied I need to get married and have kids so I'm not filing single lol.
Posted on 1/27/23 at 6:53 am to Northwestern tiger
Join the club. I pay in every year
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