View Poll Results: Did 2019 Fed Tax refund increase? decrease? the same?
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I've got more! I will going to Vegas.
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78 |
38.42% |
I've got less. I will be eating Ramen for dinner.
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81 |
39.90% |
The same. Life goes on as before.
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44 |
21.67% |
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Poll:2019 Federal Tax refund - more or less? poll
02-20-2019, 10:22 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Nov 2013
Location: Bay Area
Posts: 2,745
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Poll:2019 Federal Tax refund - more or less? poll
Did you get bigger federal tax refund this year (2019)? Yes, no, or same?
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02-21-2019, 12:19 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Apr 2016
Location: Dutchess County
Posts: 1,599
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Yes................but........only because I had a large medical write off.
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02-21-2019, 03:40 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,196
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Same as last year, no refund no taxes.
__________________
TGIM
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02-21-2019, 03:56 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Michigan
Posts: 4,942
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The change in the standard deduction produced a notable refund vs. last year. Already been to Vegas, tho.
__________________
"The mountains are calling, and I must go." John Muir
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02-21-2019, 04:29 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 2,459
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2017 effective tax rate 0%, 2018 effective tax rate .94%. Called it even.
__________________
For me experiences are not good or bad, just different
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02-21-2019, 05:04 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2004
Posts: 1,427
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effective rate went from 10.6% to 8.5%.
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02-21-2019, 05:09 AM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,679
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After I retired 10 years ago, I have zero tax withholding, so I never get a refund. What I owe in April is simply what I chose not to pay in estimated taxes 3 months earlier.
But even in my working days, I very rarely got a refund. My withholding covered my taxable wage income, but the taxes on the smaller investment income I paid in April (or in 4th quarter estimated taxes if it were a large tax bill).
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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02-21-2019, 05:57 AM
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#8
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Dryer sheet aficionado
Join Date: Mar 2018
Posts: 43
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Effective rate was reduced despite an increase in AGI
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02-21-2019, 06:00 AM
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#9
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Full time employment: Posting here.
Join Date: May 2007
Posts: 982
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Never get a refund since I adjust withholding (pension) throughout the year based on my estimated tax spreadsheet. Never understood why anyone would want to overpay taxes in order to get a refund but seems to be in the news a lot of late. My fed taxes decreased by about $1,000 even with a slight increase in income compared to last year.
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02-21-2019, 06:20 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 1,644
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I never get a refund more than ~25 -- I always pay estimated and an additional amount when I extend in April.
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02-21-2019, 06:28 AM
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#11
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Recycles dryer sheets
Join Date: Jan 2015
Location: Rural VT
Posts: 307
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Seldom any refund, one year between the state and feds owed one $36 and got a $36 refund. Best year ever for our figgerin’.
We try not to lend money to the state, federal government, friends or relatives.
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02-21-2019, 06:31 AM
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#12
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 1,211
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^^^^^I didn't get a federal tax refund this year. Owed about $132. Just about matched my state refund, so figgerin' was good, almost as good as Choices.
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02-21-2019, 06:45 AM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,196
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Quote:
Originally Posted by Lakedog
Never get a refund since I adjust withholding (pension) throughout the year based on my estimated tax spreadsheet. Never understood why anyone would want to overpay taxes in order to get a refund but seems to be in the news a lot of late. My fed taxes decreased by about $1,000 even with a slight increase in income compared to last year.
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You know it is a forced savings for many folks, of who most on not on this site.
__________________
TGIM
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02-21-2019, 06:54 AM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,067
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Haven't even looked at it. I know I will owe and I like to wait until I feel corrections to 1099's etc have been made.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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02-21-2019, 07:05 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Posts: 1,871
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Size of refund really isn't relevant. Effective tax rate is better but even that isn't the best way to gauge things.
For a true apples-to-apples comparison, you'd need to compute your 2018 taxes using the current rules and the previous rules.
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02-21-2019, 07:08 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,518
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We pay 100% of our estimated tax out of our RMD in December. We fine tune our tax estimates prior to setting up the tax payment, so that in a perfect world, we would not owe anything nor receive a refund. But if you are asking if we are better off under the new tax code vs the old tax code, we benefited from the new tax code. Our federal taxes are 16% less than they would have been under the old system, largely because we are in a lower tax bracket than we used to be. This year, because of 2 RMD's we will be bumped up to the 24% bracket so the situation will be different, but still a savings over the oldsystem.
__________________
"Luck favors the prepared mind"
Pasteur
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02-21-2019, 07:20 AM
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#17
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Thinks s/he gets paid by the post
Join Date: Jul 2004
Posts: 1,427
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Quote:
Originally Posted by mrfeh
For a true apples-to-apples comparison, you'd need to compute your 2018 taxes using the current rules and the previous rules.
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I assumed everyone reporting their effective rate change was using the same 2018 data.
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02-21-2019, 07:34 AM
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#18
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Thinks s/he gets paid by the post
Join Date: Jul 2002
Posts: 1,581
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Asking if my refund is more or less than in the past is like asking if your planning was as bad as last year or worse.
My ideal planning is to owe as much as I can get away with without incurring any penalties. ANY refund means I screwed up badly.
Of course, didn't vote.
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02-21-2019, 07:38 AM
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#19
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 2,459
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Quote:
Originally Posted by mrfeh
Size of refund really isn't relevant. Effective tax rate is better but even that isn't the best way to gauge things.
For a true apples-to-apples comparison, you'd need to compute your 2018 taxes using the current rules and the previous rules.
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Sounds a lot like w**k.
__________________
For me experiences are not good or bad, just different
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02-21-2019, 07:44 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Posts: 1,871
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Quote:
Originally Posted by grasshopper
Sounds a lot like w**k.
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Yup, and it's not something I'm willing to do. Just pointing out not to draw conclusions from flawed metrics.
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