I Cried Today

I just sat down with our accountant to file taxes this afternoon. That is all.

I smiled when I picked mine up today and found out I’m getting a refund

buckybadger wrote:

I just sat down with our accountant to file taxes this afternoon. That is all.

Quite certain I’ll be right there with you soon.

Same boat. Highway robbery.

Worst slap in the face ever this year. Single dad fully supporting three children all on my own and absolutely raked over the coals compared to all previous years. I have done everything right year after year but hey – thanks to you all who think we are on the right path (not)!!!

Mine was down significantly from last year. The primary reason is that the child tax credit went from 2800 down to 600 per dependent child. Multiply that by two or three, and that is a huge difference.

The good news is that it only took about 10 days to receive the federal and 2 weeks to receive state.

wife and i havent recieved our SS statements yet…..had to call them to resend them!!! so we are still waiting…..yea not looking forward to it.

then every 3 months sending a check to the state!!!!!! crooks!!! my pension and SS doesnt take state tax out…..

I dont ever know what to say when I read these. My wife and I almost always get a huge amount back. Did again this year. Very possible she’s doing our taxes wrong lol. We do claim 0 though and she has her own small business which allows her to write things off…

I’m afraid to start ours. Last year was a disaster. Used turbo tax and was surprised we were getting a federal refund since we’ve paid in the last several years. Get a letter in the mail in June that you never want to see from the IRS. Sure enough we owed 5900. Turbo tax had some glitch in it and tons of people had the same problem. I wonder if I paid the extra $ for the guarantee if they would have ate that.

Doesn’t really matter if you get a refund or pay, that’s just a reflection of whether too much or too little was withheld throughout the year. If you claim 0 on w4 you have the maximum withheld and and will probably get a refund unless you are married and combined income goes above a certain bracket.

CaptainMusky wrote:

I’m afraid to start ours. Last year was a disaster. Used turbo tax and was surprised we were getting a federal refund since we’ve paid in the last several years. Get a letter in the mail in June that you never want to see from the IRS. Sure enough we owed 5900. Turbo tax had some glitch in it and tons of people had the same problem. I wonder if I paid the extra $ for the guarantee if they would have ate that.

i’ve had the same experiene with turbotax……i’ll pay an accountant!!!!!!!
notto mention the headache of doing it yourself…….naw not worth it!!!!

Reef Wholligan – when I pay too much and see those above AND below – too little. I have a serious problem with it snd will vote accordingly. I hope others do too.

It’s been said many times and it’s hard to accept, but if you get a big refund back most years you need to look at your situation and change your withholdings through out the year. Don’t let the Gov. use your money all year for free. Don’t with hold so much and invest it. Just my opinion

I’ll just leave it at that.

Reef – ya got no idea. just sayin.

What changed gents. Not political but in taxes this year versus previous. Haven’t done mine yet. Is it just the child tax credit or something else.
Not looking for political debate more so what change from last year to this year.

klang wrote:

It’s been said many times and it’s hard to accept, but if you get a big refund back most years you need to look at your situation and change your withholdings through out the year. Don’t let the Gov. use your money all year for free. Don’t with hold so much and invest it. Just my opinion

Understand 100% but simply put I just don’t care. Fighting with the government to secure every single nickel, adjusting my deduction multiple times a year to try and get a magical number of 0 owed at the end of the year, being angry all the time like I see so many being….just not something I’m interested in.

Eelpoutguy wrote:

Reef – ya got no idea. just sayin.

Enlighten us.

I enjoy my refund every year use turbo tax zero issues. Send it straight to the principle on the mortgage.

For some of us it doesn’t matter what you claim. They just take it.
They take $.49 out of every $1.00 i make.

Eelpoutguy wrote:

For some of us it doesn’t matter what you claim. They just take it.
They take $.49 out of every $1.00 i make.

Wtf does that have to do with refunds or payments at the end of the year? Explain how those change you total tax liability…

When I read the topic, I though someone was chopping onions. We all feel they take too much. It’s the money we pay to be left alone. Except they’re not doing that anymore either.

It will get worse in years’ to come.

Biden is going to raise taxes to support his spending habits..

oh…and to support Ukraine and their government pensions and lavish lifestyles…Zelensky’s wife needs another $50k for a spring shopping spree in Paris..

you’re footing the bill..

klang wrote:

It’s been said many times and it’s hard to accept, but if you get a big refund back most years you need to look at your situation and change your withholdings through out the year. Don’t let the Gov. use your money all year for free. Don’t with hold so much and invest it. Just my opinion

Naa I like getting a check back at tax time instead of having to write a check out and cry about it

Child credit reduced from $2800 to $600. You are paying more in taxes than before.

Buy a car that prices have drastically increased – you are paying more taxes than before.

Go to any store and buy the same thing you did a few years back – you are paying more taxes than before.

Your value of your house has gone up and with that your property taxes – you are paying more taxes than before.

Every single day we are be impacted more and more and that cannot be challenged.

The government sees the difficulties of those having less take home than before – but increase spending instead of decreasing unnecessary spending and lowering tax rates – not happening. Common sense for those whom understand basic economics….

Ripjiggen wrote:

Is it just the child tax credit or something else.

That was the major difference on mine. Dropped from 2800 per child to 600. Obviously the more dependent children you have, the more impactful this is.

The standard deduction thresh hold went from $24,000 to $25,900 (inflation).

I think some of you need a lesson on how the government works. The president or governor alone cannot just “raise taxes” or “increase federal spending.” That requires legislation from congress or the MN state legislature. Which is exactly why the federal student loan forgiveness is being challenged in court. Increases in funding for Ukraine require approval from both the House and Senate. The House is currently a conservative majority, and they have approved it.

Right now in MN all three chambers of power are held by one party. That’s the direct result of an election last November. Really no one to blame but ourselves on that one. When you allow one party to control every chamber, they can push through more legislation, and that is exactly what they are going to for the next 2 years.

Totally agree with everything you said gimruis.

jimmysiewert wrote:

Totally agree with everything you said gimruis.

It’s bush league, no doubt. When one party has full control, it’s really not good for anyone. Bipartisanship and compromise is far better IMO.

If I ever complain on the internet about my money as much as you guys, Im gonna take the initiative and just move to a lesser-burden state.

Bearcat89 wrote:

Same boat. Highway robbery.

yo you got to stop working 70 hours a week! after like 48 hours you are just helping everyone on welfare.