Poll

Do you expect your federal taxes to go up or down?

Up
15 (19%)
Down
34 (43%)
Have no idea
30 (38%)

Total Members Voted: 79

Author Topic: Will your federal taxes be going up or down next year?  (Read 91818 times)

Offline ChaimMoskowitz

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Re: Will your federal taxes be going up or down next year?
« Reply #620 on: September 03, 2018, 04:06:40 PM »
TBH, I have some very unusual activity in 2018, which is causing me to do some unusual things that will raise my AGI significantly, but keep taxes under a lid, due to an unusual event.

That being said, when I started running my projections for 2018 taxes, I got sticker shock at first, until I realized the huge offset I would get from the child tax credit.

Now if only my CPA wouldn't drag things that much, and would work with in a timely manner, I would have a better picture of what things will look like, with the ability to plan ahead appropriately, rather than just being reactive.
I happy for you and any other middle/low class that get a break.
I just found a new supply of forks!

Offline mushkovits

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Re: Will your federal taxes be going up or down next year?
« Reply #621 on: September 03, 2018, 04:11:58 PM »
Going up was an understatement. Going to skyrocket to around 11%.  >:( >:( >:(
At least we finally know the true reason behind the non-stop bashing of our Commander in Chief

Online ExGingi

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Will your federal taxes be going up or down next year?
« Reply #622 on: September 03, 2018, 07:50:51 PM »
I happy for you and any other middle/low class that get a break.

https://www.hrblock.com/tax-center/irs/tax-reform/new-child-tax-credit/

Quote
The beginning credit phaseout for the CTC increases to $200,000 ($400,000 for joint filers). The phaseout also applies to the new family tax credit

If only we could get NYS and NYC reprieve.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline avromie7

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Re: Will your federal taxes be going up or down next year?
« Reply #623 on: September 03, 2018, 08:48:48 PM »


What caused it? The massive tax cut

I understand that you are referring to that, but there are many changes to the tax code, I was asking which change caused such a big increase.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline ChaimMoskowitz

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Re: Will your federal taxes be going up or down next year?
« Reply #624 on: September 03, 2018, 08:59:18 PM »

I understand that you are referring to that, but there are many changes to the tax code, I was asking which change caused such a big increase.
I have no idea. I am to upset. I haven't eaten all day.  :)
I just found a new supply of forks!

Offline ChaimMoskowitz

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Re: Will your federal taxes be going up or down next year?
« Reply #625 on: September 03, 2018, 09:02:16 PM »
At least we finally know the true reason behind the non-stop bashing of our Commander in Chief
The real reason is obvious. He is a scumbag and a draft dodging coward. Looks like you have something in common with him hiding behind your new account.  :P
I just found a new supply of forks!

Offline gingyguy

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Re: Will your federal taxes be going up or down next year?
« Reply #626 on: September 03, 2018, 09:07:14 PM »
The real reason is obvious. He is a scumbag and a draft dodging coward. Looks like you have something in common with him hiding behind your new account.  :P
and we"re back to the politica /Rip john mccain thread!! ;D
May you slide down the banister of happiness & get many splinters of success up your career.

Offline mushkovits

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Re: Will your federal taxes be going up or down next year?
« Reply #627 on: September 03, 2018, 11:37:41 PM »
The real reason is obvious. He is a scumbag and a draft dodging coward. Looks like you have something in common with him hiding behind your new account.  :P
Knowing the truth that nobody  is hiding here, I can likely assume your bashing has nothing to do with the obvious.

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Feelings don't care about your facts