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At random: Dollar for dollar and man for man, the submarine is the country's most economical weapon. Comprising only 1.6 percent of the Navy's World War II personnel, the submarine service accounted for 55 percent of all enemy shipping destroyed.
Taxes NSR
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Doc Gardner
Posted 2019-04-15 6:59 AM (#93822)


Master and Commander

Posts: 2253

Location: Foothills of the Ozarks 		Subject: Taxes NSR

Just read this analysis in the New York Times
https://www.nytimes.com/2019/04/14/business/economy/income-tax-cut.html?action=click&module=Top%20Stories&pgtype=Homepage
Holland Club
Posted 2019-04-15 8:09 AM (#93823 - in reply to #93822)


Master and Commander

Posts: 2490

Location: East Coast of Wisconsin		Subject: RE: Taxes NSR

Good to hear from you Doc. Hope you found your Missouri weather better than the Michigan stuff.
GaryKC
Posted 2019-04-15 8:38 AM (#93824 - in reply to #93822)


COMSUBBBS

Posts: 3669

Location: Kansas City Missouri		Subject: RE: Taxes NSR





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Attachments taxes.jpg (185KB - 602 downloads)
Doc Gardner
Posted 2019-04-15 11:31 AM (#93825 - in reply to #93823)


Master and Commander

Posts: 2253

Location: Foothills of the Ozarks 		Subject: RE: Taxes NSR

Doing well here Ron. Enjoying the shorter winters and the small town atmosphere. We’re going to visit Blue and Tamara in October.
Don Gentry
Posted 2019-04-15 3:22 PM (#93828 - in reply to #93822)


Admin

Posts: 2297

Location: Renton, WA		Subject: RE: Taxes NSR

Well, like I said in an earlier post, I am in the minority this time.  Our tax returns have been rock steady with 300-500 returned.  No significant changes this year and had to pay a little over 1700.  Guess it was our turn in the barrel
Doc Gardner
Posted 2019-04-15 4:34 PM (#93829 - in reply to #93828)


Master and Commander

Posts: 2253

Location: Foothills of the Ozarks 		Subject: RE: Taxes NSR

I can’t explain why some went up, some went down, and some stayed the same. I know Pat and I benefited from the higher standard deduction for being over 65. I’ve read in some states the taxes went up because of new limits on deductibility of state taxes. I always check with my tax guy to see if I have to adjust my withholding
Holland Club
Posted 2019-04-15 4:59 PM (#93830 - in reply to #93828)


Master and Commander

Posts: 2490

Location: East Coast of Wisconsin		Subject: RE: Taxes NSR

One event during the past tax year was the retiring of a $15000 IRA. Unfortunately the bank did not withhold Taxes. First cut by amateurs using Turbo tax showed me owing 2,000.
Had taxes done by a real tax person and I only owed $364 while the state is kicking back $800 of my bread.
I thought it wasn't too bad since I showed a sizeable bump in my 'earnings'.
610ET
Posted 2019-04-17 4:48 PM (#93840 - in reply to #93830)


Old Salt

Posts: 438

Location: Fort Lauderdale, FL		Subject: RE: Taxes NSR

Holland Club - 2019-04-15 7:59 PMOne event during the past tax year was the retiring of a $15000 IRA. Unfortunately the bank did not withhold Taxes. First cut by amateurs using Turbo tax showed me owing 2,000.Had taxes done by a real tax person and I only owed $364 while the state is kicking back $800 of my bread.I thought it wasn't too bad since I showed a sizeable bump in my 'earnings'.


That is a significant difference.

I have used TT for years. Last year I switched to H & R Block because TT was not calculating accelerated depreciation on a new SUV correctly.

What did your guy know that TT didn't?


Edited by 610ET 2019-04-24 1:25 PM
Holland Club
Posted 2019-04-17 9:11 PM (#93841 - in reply to #93840)


Master and Commander

Posts: 2490

Location: East Coast of Wisconsin		Subject: RE: Taxes NSR

Can't really answer your question very well since I didn't talk to the tax person. A Son In Law did all the legwork and his understanding was that TT wasn't calculating my monthly rent in assisted living correctly. Can't add to that.
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