I keep trying to figure this tax stuff out and it just ****** me off to hi helll. Last yr we paid 1600. This yr we are getting 29 dollars back. Whooooooooooo
Our youngest goes to UTSA. She doesn't qualify for nothing, due to our income? Yeah I'm talking NO Grants.We pay cash for all her tuition etc
Oldest is out and on her own. My wife and I barley break 6 figures. Cops pay and teachers pay so yeah no joke.
Whatever happen to the middle class income return with a bit of help from what we have put in? BTW the 29 is still not free. Wife paid 50 to do the taxes, so yea still 21 in the hole.
If we are doing something wrong please tell me. I would love to see a lil bit at the end of the yr.
I long for the day where we live in a world where folks can understand that a tax refund is not a bonus. It means you paid in too much in the first place. No reason to give Uncle Sam a free loan on your money all year. You should set your withholdings up accordingly so you don't get a refund. Put that money in the bank all year.
As long as I don't have to pay, I am happy.
But for millions of Americans it is just that, a bonus, or another form of welfare I suppose. With child tax credits & the earned income credit, millions of people get more money than they paid in back. Pay in $2000 throughout the year in withholding, get a $6,000 refund because you have 3 kids and don't make much money. Merica!
Taxes while maybe not many will face this situation there is a TAX PENALTY called Windfall Elimination Tax and it hits you at 85% and at 85% it will certainly take your breath away. This was my first year to experience this pentaly.
But for millions of Americans it is just that, a bonus, or another form of welfare I suppose. With child tax credits & the earned income credit, millions of people get more money than they paid in back. Pay in $2000 throughout the year in withholding, get a $6,000 refund because you have 3 kids and don't make much money. Merica!
My brother-in-law's baby mama has 4 kids from 4 different men. They all have to pay her child support. She works like 20 hours a week when she feels like it and always gets a few grand back on her tax return, which she promptly spends wisely on things like concert tickets. 100% certain she is already teaching her daughters that babies are paychecks.
But for millions of Americans it is just that, a bonus, or another form of welfare I suppose. With child tax credits & the earned income credit, millions of people get more money than they paid in back. Pay in $2000 throughout the year in withholding, get a $6,000 refund because you have 3 kids and don't make much money. Merica!
Which is exactly why I said I long for the day.....
No kids here so I'm stuck with adjusting my withholdings..
Maybe I am wrong but I dang sure like my taxes this year compared to last year. I paid around $2000 last year and this year i will get back a little over $120. No change in income to speak of this year compared to last year. $2000+ tax break this year
(I like it!!)
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