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Old 02-10-2019, 04:22 PM   #11 (permalink)
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The system overall should have been more efficient (many more tax payers are using the standard deduction rather than itemizing) so overall the regular paycheck deductions ought to have been more accurate, hence smaller end-of-year returns.

My wife has her own business so we are used to taking a shellacking at tax time even though my W-4 says I'm still single and childless. At first it was a mistake on my part but then I figured, why claim more exemptions if I'm gonna get boned on April 15
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Old 02-10-2019, 08:45 PM   #12 (permalink)
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Pay it all at once. The installment thing is something you can only do once every 5 years or so if I remember correctly.

I don't think this is correct
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Old 02-10-2019, 11:50 PM   #13 (permalink)
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I’ve decided to go ahead pay in full rather than installments; I will wait till April though. I’ve been reading up on the refund mess this year and understand the rationale regarding getting more across each paycheck = less of refund; however I’m sure this is a surprise to many and is a buzzkill to the time honored American tradition of getting that lump sum tax return.
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Old 02-21-2019, 03:06 AM   #14 (permalink)
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I am still waiting on my 1099 from Walmart for all the times they me me run the register myself.

I enjoyed this joke.




Mine was typical, except that there was no need to itemize deductions; which I've done every year since college.
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Old 02-21-2019, 06:16 AM   #15 (permalink)
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Getting a decent return still, my car needs new tires bad, wife's work pc needs ram, the rest will go to paying off credit card and/or savings
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Old 02-21-2019, 07:39 AM   #16 (permalink)
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killing it this year. Have a very nice return coming back. We plan on selling our house and buying a new one this summer so I don't get to play with any of it.
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Old 02-21-2019, 09:49 AM   #17 (permalink)
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I'm getting about $2600. I need to get an electrician to run some power over to where my hot water heater is so I can replace my propane hot water heater with a hybrid hot water heater then I can use the chimney vent the propane was going into for the pellet stove I want to put in the basement.
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Old 02-21-2019, 02:16 PM   #18 (permalink)
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I haven't done my taxes yet...am afraid too. I keep hearing about unreimbursed work expenses going away, and since my wife is a science teacher that usually amounts to a couple grand/year spent on classroom and lab supplies. Pretty sure I'm going to get bent over by the federal government.
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Old 02-21-2019, 02:24 PM   #19 (permalink)
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Best bet is to calculate them now so you know what you are in for and if you need to start saving up. If you have to pay then you can wait. No rule says you have to file them as soon as you complete them.
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Old 02-21-2019, 03:08 PM   #20 (permalink)
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I haven't done my taxes yet...am afraid too. I keep hearing about unreimbursed work expenses going away, and since my wife is a science teacher that usually amounts to a couple grand/year spent on classroom and lab supplies. Pretty sure I'm going to get bent over by the federal government.

10 points to Nectaris.



If it's any consolation, ClarkGryphyn, teachers/educators have an exception to the work expense rule. Up to $250 is eligible for deduction, regardless of any other circumstance. If the excess is >2% AGI it can be itemized and deducted as "unreimbursed employee expenses"; including travel, union dues, etc. If I read this right, then the >2% rule might cause you to have a lower overall tax rate if you file separately. Try both through FreeTaxUSA or similar free service and see what the outcome is for each type.



Source: https://turbotax.intuit.com/tax-tips...nses/L7RQyMRR4
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