2018 TAXES

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93henfan
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Re: RE: Re: 2018 TAXES

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UNI88 wrote:
93henfan wrote:Sorry, but I'm not going to break the law. Child support is not deductible by the payer.
Plus I don't think you'd want to put yourself in a situation where you couldn't prove you'd made the child support payments.

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True. The other thing is, if I'm going to declare it a gift, then she would have to claim it as income, which obviously isn't going to happen. Why in the world would she agree to raise her taxes? :lol:
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Re: 2018 TAXES

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Yes, I'm doing it by hand. At least it's ready to convert to computerized copy. I'm still trying to find printed instructions for my CA 540 2EZ at my library....
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Re: 2018 TAXES

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SuperHornet wrote:I'm still trying to find printed instructions for my CA 540 2EZ at my library....
:suspicious:
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Re: 2018 TAXES

Post by CID1990 »

SuperHornet wrote:Yes, I'm doing it by hand. At least it's ready to convert to computerized copy. I'm still trying to find printed instructions for my CA 540 2EZ at my library....
Sounds about as hard as a black man trying to get a photo ID
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Re: RE: Re: 2018 TAXES

Post by AZGrizFan »

93henfan wrote:
UNI88 wrote:Plus I don't think you'd want to put yourself in a situation where you couldn't prove you'd made the child support payments.

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True. The other thing is, if I'm going to declare it a gift, then she would have to claim it as income, which obviously isn't going to happen. Why in the world would she agree to raise her taxes? :lol:
Was told by someone today that there’s a “grandfather” date before which you can still claim it....not true?
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Re: RE: Re: 2018 TAXES

Post by 93henfan »

AZGrizFan wrote:
93henfan wrote:
True. The other thing is, if I'm going to declare it a gift, then she would have to claim it as income, which obviously isn't going to happen. Why in the world would she agree to raise her taxes? :lol:
Was told by someone today that there’s a “grandfather” date before which you can still claim it....not true?
Nope. Make sure you aren't confusing child support and alimony.

Straight from the horse's mouth:
Child support payments are neither deductible by the payer nor taxable income to the recipient
https://www.irs.gov/faqs/filing-require ... emptions-6
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Re: 2018 TAXES

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93henfan wrote:
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Re: 2018 TAXES

Post by houndawg »

HI54UNI wrote:
ASUG8 wrote:I usually get money back from the state and have to pay the Feds, so my usual routine is complete the whole thing ASAP, file state, then pay the Feds 4/15 or so.
Ditto.

Got my tax software and have to start playing with some numbers in case I need any last minute deductions.
Kids gone, no mortgage, excellent health...no deductions.


I'm going to have to look into some of that farmer welfare where they pay you to not grow stuff.. :ohno:
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Re: RE: Re: 2018 TAXES

Post by AZGrizFan »

93henfan wrote:
AZGrizFan wrote:
Was told by someone today that there’s a “grandfather” date before which you can still claim it....not true?
Nope. Make sure you aren't confusing child support and alimony.

Straight from the horse's mouth:
Child support payments are neither deductible by the payer nor taxable income to the recipient
https://www.irs.gov/faqs/filing-require ... emptions-6
Ah...he could have been referring to child support....he pays both.
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Re: 2018 TAXES

Post by ∞∞∞ »

SDHornet wrote:
AZGrizFan wrote:
Didn’t you get a raise from the tax cut during the year? Or did Your bracket not change?
Probably a pay raise that he isn't accounting for.

And as a young up and coming engineer, if he didn't get a pay raise last year then he needs to look for a new place of employment. :coffee:
So I finally got around to figuring out some rough numbers. I made an extra $80/month due to the tax cut, but now I owe $400 to the government, so I made an extra $560 purely due to the tax cuts. Add to that a pay bump of $3000 from moving jobs which was taxed about $600.

But my property tax went up $100 and my healthcare went up about $900 this year, but my gas costs was only $1000 compared to $2000 the year before (new job is much closer), so I effectively made about $3000 more after moving jobs and the tax cut last year.

Overall I did end up saving less money this year though even after making an extra $3000, but I have to dig deeper into spending. I didn't take a vaca, nor bought a big ticket item, or change my lifestyle, so I have to see where the extra money is going. Because it's a lot of money (unless I made a mistake elsewhere).

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Re: 2018 TAXES

Post by Ibanez »

∞∞∞ wrote:
SDHornet wrote: Probably a pay raise that he isn't accounting for.

And as a young up and coming engineer, if he didn't get a pay raise last year then he needs to look for a new place of employment. :coffee:
So I finally got around to figuring out some rough numbers. I made an extra $80/month due to the tax cut, but now I owe $400 to the government, so I made an extra $560 purely due to the tax cuts. Add to that a pay bump of $3000 from moving jobs which was taxed about $600.

But my property tax went up $100 and my healthcare went up about $900 this year, but my gas costs was only $1000 compared to $2000 the year before (new job is much closer), so I effectively made about $3000 more after moving jobs and the tax cut last year.

Overall I did end up saving less money this year though even after making an extra $3000, but I have to dig deeper into spending. I didn't take a vaca, nor bought a big ticket item, or change my lifestyle, so I have to see where the extra money is going. Because it's a lot of money (unless I made a mistake elsewhere).
Didn't you start a coin collection ?
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Re: 2018 TAXES

Post by ∞∞∞ »

Ibanez wrote:
∞∞∞ wrote: So I finally got around to figuring out some rough numbers. I made an extra $80/month due to the tax cut, but now I owe $400 to the government, so I made an extra $560 purely due to the tax cuts. Add to that a pay bump of $3000 from moving jobs which was taxed about $600.

But my property tax went up $100 and my healthcare went up about $900 this year, but my gas costs was only $1000 compared to $2000 the year before (new job is much closer), so I effectively made about $3000 more after moving jobs and the tax cut last year.

Overall I did end up saving less money this year though even after making an extra $3000, but I have to dig deeper into spending. I didn't take a vaca, nor bought a big ticket item, or change my lifestyle, so I have to see where the extra money is going. Because it's a lot of money (unless I made a mistake elsewhere).
Didn't you start a coin collection ?
I've always had one.

I actually just figured it out. I saved $200/mo for an HSA account which I forgot about, so in reality there's probably $600-$1000 of spending I gotta figure out.

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Re: 2018 TAXES

Post by Ibanez »

∞∞∞ wrote:
Ibanez wrote:
Didn't you start a coin collection ?
I've always had one.

I actually just figured it out. I saved $200/mo for an HSA account which I forgot about, so in reality there's probably $600-$1000 of spending I gotta figure out.
Don't forget about the HSA. I had one that I forgot about, didn't use for a year or so and didn't realize there was a $5 monthly fee. :ohno: I lost close to $100.
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Re: 2018 TAXES

Post by Ibanez »

Ibanez wrote:
93henfan wrote:I had mine done in TurboTax for over a week and just had to wait on the Passive Activity Loss Limitations (8582) form. Once that was released by IRS on Monday, I hit the e-file button on TT.

My federal return was "accepted" by IRS later the same day, and Delaware accepted my state return a day later. They say three weeks, but I'm willing to bet I get my returns in two or less.

The Trump cut lowered by effective rate 2.1% last year, so that was sweet. Delaware actually got worse.
Submitted mine yesterday and they were "accepted" by the Feds, North Carolina and South Carolina in an hour. They estimated a refund by Feb 22. We'll see.

Effective Tax Rate
2017- 14%
2018- 6.09%
SC deposited my $9 refund 2 weeks ago. :thumb: :thumb:

The Feds deposited theirs today. :notworthy:

NC has yet to review. :roll:
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Re: 2018 TAXES

Post by 93henfan »

Ibanez wrote:
Ibanez wrote: Submitted mine yesterday and they were "accepted" by the Feds, North Carolina and South Carolina in an hour. They estimated a refund by Feb 22. We'll see.

Effective Tax Rate
2017- 14%
2018- 6.09%
SC deposited my $9 refund 2 weeks ago. :thumb: :thumb:

The Feds deposited theirs today. :notworthy:

NC has yet to review. :roll:
Yeah, I finally got my Delaware refund on Wednesday. 18 days after the federal.

And people say federal employees are inefficient and lazy?

I think NOT!

Muhfuggers come back from a shut down and are shucking and jiving and paying the bills!
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Re: 2018 TAXES

Post by AZGrizFan »

∞∞∞ wrote:
Ibanez wrote:
Didn't you start a coin collection ?
I've always had one.

I actually just figured it out. I saved $200/mo for an HSA account which I forgot about, so in reality there's probably $600-$1000 of spending I gotta figure out.
Sheeee-iit....that's carryin' around money for me, bro! :coffee: :coffee:
"Ah fuck. You are right." KYJelly, 11/6/12
"The future must not belong to those who slander the prophet of Islam." Barack Obama, 9/25/12
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