Poll:2019 Federal Tax refund - more or less? poll

[JDARNELL]

Right. Two observations:


1) Like we've found so often in the past, the folks here aren't representative of the public at large.


2) This poll is going to find the "mode" of those who respond (i.e. the most frequent response--either "got more" or "got less"). The IRS press release discussed the "mean" refund. If the poll here shows most respondents got a lower refund, it's still very possible that the average (mean) of all refunds among respondents is higher than in 2017.

I agree. I suspect those of us that file later have more complicated returns and didn’t expect large refunds due to our tax planning. My cpa called me today and I am 38 refund in federal and owe state 200. He has emailed me my info to look over but I won’t have a chance to look at it until Monday. Once I smoke everything over I will share if overall taxes under the new system was more or less than before.

 

[Firezone]

Re married at 52 now 57 truly empty nesters . Besides a rental we had and sold in 2019 and charitable giving .we have no deductions . My retirement is 401 50/50 between Roth and traditional Spouse has pension and 457 .but has not fired yet . We are going to owe again and it’s not pretty .In my calculation it does not pay for us to stay working st current mega Corp . Cashing our chips in so to speak and retiring earning less will save us money . We can live on less and about to roll next year . That’s the plan

 

[MarieIG]

Still waiting to hear back from the accountant.

 

[swakyaby]

My intent of starting this thread isn't about tax rate change. It's about having more or less money after completing the tax return. Are you going to Vegas or eating Ramen, are you happy or pissed, ....

My first year of retirement was 2018. I have found I paid $95,600 less federal and state taxes combined compared to 2017. I will be visiting Machu Picchu and the Galápagos Islands this year, and perhaps send a picture of a blue-footed booby, representing how I felt paying that much more taxes every year while w*rking.

 

[MarieIG]

Very good news. I was surprised. Our income was up and taxes down. Accountant said change in tax brackets and that we don't have to pay AMT helped.

 

[jdnd9091]

I paid 21.4% of my income this year compared to almost 24% last year. Much better.

 

[Dean56]

The change in the standard deduction produced a notable refund vs. last year. Already been to Vegas, tho.

I'll second that remark!!

 

[Ronstar]

I paid 12.8% of AGI this year compared to 6.6% last year. Spike in 2018 tax probably due to DW taking $35k from her IRA and me doing a $50k roth conversion.