Will your federal taxes be going up or down next year?

[ChaimMoskowitz]

I am going to guess going up for me.

Last 6 years effective tax rate %:
-3.65
.43
-3.59
1.11
1.07
.81

[aygart]

I am going to guess going up for me.

Last 6 years effective tax rate %:
-3.65
.43
-3.59
1.11
1.07
.81

Is it due to the tax bill or due to differences in income and income type?

[ChaimMoskowitz]

Is it due to the tax bill or due to differences in income and income type?

It is due to me being low income. 

[skyguy918]

Effective rate going down by a little more than 1%.

[aygart]

It is due to me being low income. 

Are those numbers sorted recent to older or the opposite?

[ChaimMoskowitz]

Are those numbers sorted recent to older or the opposite?

Recent to older.

[Work-for-ur-muny]

I wish I would know. 

[ChaimMoskowitz]

I wish I would know. 

You itemize?

[aygart]

I wish I would know. 

I am happy that I don't!

[aygart]

Recent to older.

So why are you complaining about the tax bill? It eliminated your entire tax liability and then some! Do you expect them to give you a refund the size of Bill Gate's tax liability?

[ChaimMoskowitz]

So why are you complaining about the tax bill? It eliminated your entire tax liability and then some! Do you expect them to give you a refund the size of Bill Gate's tax liability?

I have no problem paying more. The problem I have with the bill is the massive giveaway to the few at the top and corporations. I am just a blue collar worker  that understands when a bill cost 1.5 trillion someone has to pay the bill. As always it will be on the backs of the middle class.

How about you, up or down?

[Work-for-ur-muny]

You itemize?

Me? Never! My accountant... 
Depends on the year.

[aygart]

I have no problem paying more. The problem I have with the bill is the massive giveaway to the few at the top and corporations. I am just a blue collar worker  that understands when a bill cost 1.5 trillion someone has to pay the bill. As always it will be on the backs of the middle class.

How about you, up or down?

I haven't figured out the entire bill yet, but from what I can see with the lower classes paying less I don't see how they can be footing the bill.

ETA, did you mean my tax bill?

I wish I would know. 

I am happy that I don't!

[ChaimMoskowitz]

Me? Never! My accountant... 
Depends on the year.

That's the benefit to low/middle income. Don't have nothing to itemize.

[ChaimMoskowitz]

I haven't figured out the entire bill yet, but from what I can see with the lower classes paying less I don't see how they can be footing the bill.

Lot of threads for the tax bill. This is just to see how members here make out.

[Work-for-ur-muny]

That's the benefit to low/middle income. Don't have nothing to itemize.

I'm gonna guess that this year I will probably end up itemizing, though that's a random (half)educated guess.

[aygart]

Lot of threads for the tax bill. This is just to see how members here make out.

See my edit.

[Work-for-ur-muny]

Just as a PSA: My accountant told me to make sure to pay any owed state taxes before January to be able to claim a deduction on my federal.

P.S. This is probably posted all over the forums, and is a repost, but figured I'll point it out.

[aygart]

Just as a PSA: My accountant told me to make sure to pay any owed state taxes before January to be able to claim a deduction on my federal.

P.S. This is probably posted all over the forums, and is a repost, but figured I'll point it out.

+1

[ChaimMoskowitz]

Just as a PSA: My accountant told me to make sure to pay any owed state taxes before January to be able to claim a deduction on my federal.

My account told me a long time ago I don't need him.