My refund dropped significantly - but my total taxes paid dropped by even more.

Last edited Fri Apr 5, 2019, 04:59 PM - Edit history (1)

My total tax bill went down a pretty decent amount. Married couple with no dependents and haven't itemized for years. I was really happy with how it turned out personally

Sounds like you either made more money or filed incorrectly. I'm a CPA fwiw

ETA - If you paid more due to state taxes, that has nothing to do with the federal tax code

went down some, my refund went down by about a third even though I increased my withholding. Not sure how that works, but total tax went down, so I guess I netted $40 a month somewhere. Not complaining, but nothing that makes it worth having Trump as president, that's for sure.

Nothing has changed, my income is the same, my deductions from last year are at the same for this year. The only thing that changed was Trump's tax giveaway to his buddies like Tim Apple.

I just got $500 back. My accountant said I was lucky I didn't owe money. Which of the uber rich Trump admirers got my $1,000? Do you think Bill Gates got some of it? How about the Waltons? Bunch of f*cking criminals, all of them.

There is a higher standard deduction for people born before 1954. It's $13,600 for a single person compared to $12,000 for a single person who was born after 1954.

married filing jointly if earning over 25,000 there is no over 65 deduction.



Oh yeah forgot something ...using the Social Security worksheet it is different this year and my taxable amount of Soc Sec has increased also

The over 65 deduction was increased from $1,250 to $1,300. And there is no income limit on that - nor was there in past years.

The credit for the elderly or disabled has an income limit of $25,000 - just like it was last year.

There were also no changes in publication 915 (Social Security Worksheet) from tax year 2017 to tax year 2018.

Also, the tax prep person scheduled another $400 increase in tax estimate payments for next year. They figure my property plus state taxes will go over the threshold, given the horrendous state our previous governor (Weasel Walker) left us in.

Guess I was lucky, but think that wasn't as bad as I expected due to being "unlucky" in other aspects during the year -- mainly horrific medical expenses and less income to start with.

The Trump tax cuts were a fraud.

I think the people that really got hosed are people with high state/local taxes and large mortgages. Probably a number of small business and self-employed people that depended on deductions too

But I'm in WA, so no income tax and our mortgage + other deductions was only about $3000 above the old standard deduction.

Let me preface this by saying I am for everyone paying their share of taxes, middle class on up, to help the lower class. Right or wrong, that is my belief.

With that said, I am a CPA and do taxes for a living. For every 100 cases of people saying they paid more under Trump's plan, 99 of the cases can be lumped into the following categories:

1- They made more money-total salary (different bracket)
2- The tax cuts gave them more in their paycheck throughout the year that offset the amount they were returned
2- Their state taxes increased
3- They are rich and have a house $500k+ (mortgage deduct was effected by Trump's plan)

My taxable income went up but my tax rate went down. Payed slightly less tax then before.