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Tyler
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Re: Taxes

Postby Tyler » Thu Jan 18, 2018 3:13 pm

I'm sure I explained it somewhere in this thread. Because of Jocelyn's career her student loans are forgiven after 10 years, so we want to keep them as small as possible until then. If we file together her income based loans are adjusted for our dual income, if we file separately her loans are based on only her income.

We get way less for a return, but it saves us $400ish+ a month in student loan payments.
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Kath525
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Taxes

Postby Kath525 » Thu Jan 18, 2018 3:25 pm

That's how Tim and I will be. Trump is trying to take away the program Jocelyn and I are in though!


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bmyoungs
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Postby bmyoungs » Thu Jan 18, 2018 4:39 pm

Tyler wrote:I'm sure I explained it somewhere in this thread. Because of Jocelyn's career her student loans are forgiven after 10 years, so we want to keep them as small as possible until then. If we file together her income based loans are adjusted for our dual income, if we file separately her loans are based on only her income.

We get way less for a return, but it saves us $400ish+ a month in student loan payments.
Oh yeah you have mentioned that. That is a huge difference and a nice bonus down the road

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Tyler
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Re: RE: Taxes

Postby Tyler » Thu Jan 18, 2018 8:19 pm

Kath525 wrote:That's how Tim and I will be. Trump is trying to take away the program Jocelyn and I are in though!


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I thought it was Betsy. It's funny because the program started in 2007 so the first people to actually get anything were last year and they already want to take it away. Luckily Jocelyn qualifies for a few other programs too, but this one would have had the biggest impact I think.
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Re: Taxes

Postby Tyler » Thu Jan 10, 2019 3:13 pm

It's almost time!
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cwilkins88
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Postby cwilkins88 » Thu Jan 10, 2019 3:46 pm

Tyler wrote:Source of the post It's almost time!


Woooooooo!!!
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Tyler
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Re: Taxes

Postby Tyler » Thu Jan 10, 2019 3:58 pm

Just got Deluxe + state TurboTax digital download for $40
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bmyoungs
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Postby bmyoungs » Thu Jan 10, 2019 5:32 pm

Getting ours prepared by a pro this year.

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Huss Buss
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Postby Huss Buss » Thu Jan 10, 2019 9:15 pm

got my appointment made if that counts
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Postby Tag » Tue Jan 15, 2019 1:32 pm

i take advantage of how awesome it is that my cousin runs an accounting deal. She's the best!
-Tag
*Formerly known as Slumdog Billionaire

As Pat from Silver Linings Playbook says... "I've got nothing but love for you, brother."
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Postby ejhartman91 » Tue Jan 15, 2019 1:38 pm

I think I screwed us over this year. Didn't adjust my withholding at the beginning of the year and instead of thousands of $ in refunds we might owe a couple thousand or more...whoops. Also thanks Trump for the super confusing W4.
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Re: RE: Taxes

Postby Tyler » Tue Jan 15, 2019 1:57 pm

ejhartman91 wrote:I think I screwed us over this year. Didn't adjust my withholding at the beginning of the year and instead of thousands of $ in refunds we might owe a couple thousand or more...whoops. Also thanks Trump for the super confusing W4.
Oh no! Always a headache when starting a new job. I owed around $1,200 last year so this year I put $100 into savings a month to account for it. Hopefully it works out.

At least your paychecks seemed huge all throughout the year for you?
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Postby ejhartman91 » Tue Jan 15, 2019 2:28 pm

Tyler wrote:Source of the post At least your paychecks seemed huge all throughout the year for you?

That is correct. I did get a bit of a raise over my old job, and I no longer have 401K or Insurance costs at my new job. However, my paychecks were significantly larger than at my previous job. I should have put 2 and 2 together, but oh well...
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Postby cwilkins88 » Tue Jan 15, 2019 3:37 pm

ejhartman91 wrote:
Tyler wrote:Source of the post At least your paychecks seemed huge all throughout the year for you?

That is correct. I did get a bit of a raise over my old job, and I no longer have 401K or Insurance costs at my new job. However, my paychecks were significantly larger than at my previous job. I should have put 2 and 2 together, but oh well...


Well shit. Owing taxes is one of my biggest fears. Sell your dogs.
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bmyoungs
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Postby bmyoungs » Tue Jan 15, 2019 6:00 pm

I'm scared of how much I will owe this year from my pro shop income. I'm trying to expense as much as possible.

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Postby blake » Wed Jan 16, 2019 10:59 am

Haven't filed yet. Worried about needing to pay in as well
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Postby blake » Tue Feb 12, 2019 2:56 pm

Got a bigger refund than last year somehow haha

My wife runs an in home day care with a few kids so that helps a ton with deductions
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Tyler
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Re: RE: Taxes

Postby Tyler » Tue Feb 12, 2019 5:16 pm

blake wrote:Got a bigger refund than last year somehow haha

My wife runs an in home day care with a few kids so that helps a ton with deductions
Don't lie to us. You're part of the 1%ers that benefit from the tax changes. Us middle classers are the ones who got hurt!
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ejhartman91
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Postby ejhartman91 » Tue Feb 12, 2019 5:17 pm

We will end up owing around $2500 to Fed and getting a $500 state refund. I've already requested a Fed W4 form to adjust my withholding amount...not sure what I did wrong but hopefully we can get closer to $0 next year.
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Re: RE: Taxes

Postby Tyler » Tue Feb 12, 2019 5:26 pm

ejhartman91 wrote:We will end up owing around $2500 to Fed and getting a $500 state refund. I've already requested a Fed W4 form to adjust my withholding amount...not sure what I did wrong but hopefully we can get closer to $0 next year.
I changed my fed withholdings from 1 to 0. I too want to be closer to $0 after seeing what happened this year and how much we owe. I'm scared how my monthly pay will me impacted now, I don't want to swing too far in the other direction and get a big return next year.

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