Anyone else have 2011 tax sticker shock?

[Wildman]

We got the bad news yesterday; we owe $3K Strange thing was we had $2500 more than last year on itemized on the 1040. Paid the same tax rate we did last year and only made $1500 more than last year. What was different? Well looking at the return from 2010; the tax rate was the same but the STANDARD itemized deduction was ONLY $11600 this year. That is down from the $18K of last years standard. That is a $7000 difference. Yep, taxes did not go up. That promise was kept! Now we sit here wondering how to pay a tax bill and scratch our heads and wonder where we benefited from "bailing" all year.

[ZenDaddy]

We did as well. I usually overpay during the year. My refund was almost nonexistant. So small, I had to talk to my accountant. He went over my return with me. Many of the deductions have been sumbstantually 'skinnied' down from previous years.

[Keith]

Us to, we usually get about $3500 back. This year we only get a $1200 refund.

[tookeymonster]

Obama (and his dirt bags in office) reduced the amount you can give to Churches and get credit on your taxes (before most of them got voted out last mid term election) went into effect for the 2011 tax year.

[Mayhem]

i have no clue we got like 3200 back.

[volsfan969]

No sticker shock....battle it every year.

[Shane]

We intentionally withheld about $3K more than last year, and we still owe about $3K in the end due to all the deductions that were taken away.

[Uncle Doug]

It will only get worse if the Bush tax cuts are allowed to expire at the end of this year.

[jlopez]

We usually get 3-4k and got half that back this year!

[klepdo]

It's better to pay than get money back. Why would you give the government a intrest free loan.

[Breezy]

It's better to pay than get money back. Why would you give the government a intrest free loan.

This is true in most cases. We got back $126.

[txoutdoorsman24]

Got less back this year also!! We had a child last year and still didn't get more back!!!!

[airwolves]

Yep for the last 3 years it has been getting less and less next year I see paying in.

It was 4-5k back then 3k back and now 1.5k back I can see next year i'm paying.
Pay has been about the same and I paid in 13k each year.

Its that 10 dollars a week he gave us last year but 10 dollars in a paycheck dont buy much lol.

[Bofly]

It's better to pay than get money back. Why would you give the government a intrest free loan.

[Pin Oak DXT]

I usually get a pretty good return. I dont like the idea of giving govt a free loan, but I hate the idea of writing a check to the govt on tax day even worse. I got a good return!