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Anyone here filed their income taxes yet? If so, did you see a big reduction in the amount you're getting back or an increase in the amount you have to pay in back taxes owed? I just filed and I'm getting back about half of what I had last year. Personally, I'd love to get back or owe $0.00 because that means my paycheck is right where it's suppose to be and I can play with my money as I want (spend or save) instead of having the feds holding onto that money for me. But this seems a big change. Just curious if anyone else has seen a change?
Nope. What has changed for you since last year? Did you have to pay a penalty due to not having health insurance? That's really the only big change in personal income tax since last year, in general. But perhaps your personal circumstances have changed?
Have you compared your 2014 return with 2013? Is your income different? Your deductions? Your withholding? Your credits?
Nope. What has changed for you since last year? Did you have to pay a penalty due to not having health insurance? That's really the only big change in personal income tax since last year, in general. But perhaps your personal circumstances have changed?
Have you compared your 2014 return with 2013? Is your income different? Your deductions? Your withholding? Your credits?
Only about a 3% pay raise, have employer provided health insurance.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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While I try my best to come out very close, and not get a big refund (and let the government use my money all year) I would expect to get a smaller refund this year too. I also got only a 3% raise, but there are a lot of other factors. For one, the longer you make mortgage payments the more goes to principal, and only interest is deductible. In late 2013 we bought a new car, which gave us a deduction on the state tax we paid on it. Our employer paid medical contribution went down, which was always too little to deduct anyway, but that increases our taxable income.
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