Community Chat

[FrostyBabe1]

I dropped all of my info off with my accountant earlier this week. I'm pretty confident that I'll owe something - I always do. And quite honestly, I'd rather have it that way. Why would I want to let the government have the use of my money for free just to get a refund? 

[halfpint1]

No-have to wait for them until next month. Had to take my ira out. I heard it would cost people more and less back for most people this year.

[CelticCrafter]

I haven't dropped ours off yet to the accountant.

It's always nice to get a little something back but I'm happy to break even and not have to write a check.

[chickenbutt]

He just dropped our paperwork off last week, so now it's just the waiting game - waiting for them to call with an appointment.  Our guy, probably like most this time of year, is super busy so it's usually late March to early April before we get in.

Not looking forward to it.

[nomless]

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@BirkiLady wrote:

My appointment is March 29th . . . and I'm dreading it. This will be a killer with mom's Trust finalized in 2018 . . . and I turned 70 last year. Had to begin taking the Required Minimum Distributions on my IRA's (which hadn't been completely rolled into ROTH's), my Retirement Accounts (which I've never touched), and a 401-K.

Holy Cow! It appears my income was massive . . . and I'm simply re-investing it. So, I'll be paying taxes on all that inheritance and the money I've set aside for my "old age". (Why do we have to take it at 70 1/2? Dang, government "rules".) Still not ready this nonsense. Don't feel anywhere near "old age" either. 

End of March, you'll hear me CRY like a baby! I honesty have no idea how much it will cost . . . was afraid to ask. 

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@BirkiLady, if I were in your shoes, I would be thankful to have such assets.  I would not begrudge owing tax.

[pigletsmom]

I already did my parents for them. They got more of a refund and they were already getting some extra in their pension check from the tax change. Refund has already been deposited.

I think they should have left the witholdings as they were, that way people would see the effect in their refunds. It seems that's how people gauge things. They don't go back and look at total tax paid last year compared to this year. I swear a lot of people think their refund is just money the government gives them.

[BirkiLady]

@nomless  Not begrudging oweing the taxes. Frightened of what the totals will be!

Very, very grateful mom and I (along with my late husband) both planned ahead and invested for our futures. Hopefully, it will continue to grow and be passed along to the next generations. That's my goal.

[BirkiLady]

@FrostyBabe1  Yes!  I'd rather invest my money throughout the year. The government isn't getting my money until April 15 of any year . . . and I always pay into both State and Federal. 

[Laura14]

You are lucky with 20%.  The government kept an extra 50% from me.  I literally had a moment and cried a few tears. 

You do everything your country tells you do, be a good student, get a college degree, pay back the loans, be a stable and loyal employee.  Check, check, check, and check.

I made the same this year as I did the year before and before and before.  I haven't had a raise in four years and never will because the new owner doesn't believe in raises.  There is no way I changed brackets except for the government changing them on me.

I just said to my mother last night at dinner.  My first job out of college I could afford a one bedroom apartment, a new car payment, and my student loan bill.  25 years later I make twice as much and I can't afford a one bedroom apartment comfortably, forget the new car, and this is with my student loan bill all paid off.  I've never bought a home and have had three economy cars in my lifetime.  I'm the opposite of spendthrift.  And don't even get me started on insurance then and now.

And now they take my refund money.   I swore I wasn't voting or participating in this country anymore.  But after some recent hat throwing, I'm in again.  Some I think get us working class folks and I am making a last gasp effort that someone will change it and give us all a chance again.    

[SilleeMee]

My refund was deposited into my bank over a week ago. The amount was nearly the same as last year's.