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Old 04-15-2019, 09:13 AM
 
306 posts, read 226,138 times
Reputation: 301

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I deducted a lot previous years. The limit on SALT made the new standard deduction practically equivalent.
My effective rate went from ~8% to 9.5% for the equivalent amount of money. My new effective rate is around 11% due to increases in salary.
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Old 04-15-2019, 09:31 AM
 
Location: Brooklyn, ny
167 posts, read 222,711 times
Reputation: 162
When all is said and done as a "middle income" earner who is single with no dependents I will admit my tax burden is fairly high. I think the thing that annoys me the most is NYC city tax and the state tax. What on earth am I paying for? I had to have hip surgery recently (does anyone realize that we pay a post tax charge for NY paid family leave? - https://tax.ny.gov/pit/file/paid_family_leave.htm ) - I am mobility disabled but not totally and completely disabled (I have degenerative hip disease from dysplasia), I continue to hobble to work via the trains etc, but post surgery I had to take a lot of cars because I don't live near an ADA accessible station, or often times I'd get to a station and the elevator would be broken etc. I have four screws holding my right hip together so it wasn't exactly easy getting around... I did have to take short term disability and while you only get 60% of your pay that is taxed as well. I don't mind paying taxes, but I'm this close to sending my receipts for cars to Cuomo, because they wouldnt give me Access a ride - I couldnt even stay in nyc because my apartment wasn't deemed safe for my recovery (i had to pay to stay in a different state for three months, flights etc, but don't you worry I'm still considered a Full time NY resident for tax purposes!). Ugh. Anyways, I guess it could be worse - I still have a leg.
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Old 04-15-2019, 10:25 AM
 
69,362 posts, read 69,945,255 times
Reputation: 46940
Quote:
Originally Posted by Energystream View Post
I deducted a lot previous years. The limit on SALT made the new standard deduction practically equivalent.
My effective rate went from ~8% to 9.5% for the equivalent amount of money. My new effective rate is around 11% due to increases in salary.
we dropped , our effective rate was 8% in 2017 , and now it worked out to 7% for 2018....
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Old 04-15-2019, 10:36 AM
 
306 posts, read 226,138 times
Reputation: 301
Quote:
Originally Posted by mathjak107 View Post
we dropped , our effective rate was 8% in 2017 , and now it worked out to 7% for 2018....
I can't be mad about anyone that the tax cuts helped. I am not happy that I am paying more for a budget with a bigger deficit.
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Old 04-15-2019, 10:55 AM
 
Location: New York, NY
2,596 posts, read 2,114,475 times
Reputation: 1509
Quote:
Originally Posted by tstwahine View Post
When all is said and done as a "middle income" earner who is single with no dependents I will admit my tax burden is fairly high. I think the thing that annoys me the most is NYC city tax and the state tax. What on earth am I paying for? I had to have hip surgery recently (does anyone realize that we pay a post tax charge for NY paid family leave? - https://tax.ny.gov/pit/file/paid_family_leave.htm ) - I am mobility disabled but not totally and completely disabled (I have degenerative hip disease from dysplasia), I continue to hobble to work via the trains etc, but post surgery I had to take a lot of cars because I don't live near an ADA accessible station, or often times I'd get to a station and the elevator would be broken etc. I have four screws holding my right hip together so it wasn't exactly easy getting around... I did have to take short term disability and while you only get 60% of your pay that is taxed as well. I don't mind paying taxes, but I'm this close to sending my receipts for cars to Cuomo, because they wouldnt give me Access a ride - I couldnt even stay in nyc because my apartment wasn't deemed safe for my recovery (i had to pay to stay in a different state for three months, flights etc, but don't you worry I'm still considered a Full time NY resident for tax purposes!). Ugh. Anyways, I guess it could be worse - I still have a leg.

Ugh, I am sooo sorry that happened to you! I fell last week and have a sprained/ bruised ankle and can't move without feeling extreme pain. But reading about your situation made me cringe! I hope you get better!
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Old 04-15-2019, 01:34 PM
 
105 posts, read 202,787 times
Reputation: 74
Quote:
Originally Posted by Hannah5555 View Post
My income is $21k a year and I don't qualify for medicaid. People don't realize just how poor you have to be to qualify for all the alleged "freebie" stuff.

At 21k a year in NY you should probably be getting the Essential Plan healthcare starting at $20 a month
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Old 04-15-2019, 01:34 PM
 
19,856 posts, read 13,049,312 times
Reputation: 13614
Quote:
Originally Posted by Energystream View Post
I can't be mad about anyone that the tax cuts helped. I am not happy that I am paying more for a budget with a bigger deficit.
Clearly not everyone is happy! https://nypost.com/2019/04/13/new-yo...ord-tax-bills/
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Old 04-15-2019, 02:01 PM
 
Location: Brooklyn, New York
3,639 posts, read 3,748,421 times
Reputation: 3369
Quote:
Originally Posted by BugsyPal View Post
*vote to increase taxes*
*get surprised when the taxes that they voted for are coming out of them*

Wait until people realize that the government gets revenue from collecting money from the people under their jurisdiction.
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Old 04-15-2019, 02:09 PM
 
105 posts, read 202,787 times
Reputation: 74
Default My NY State Taxes ar higher yes but seem too high. An Error?

Quote:
Originally Posted by stormgal View Post
Does anyone here find that they owe more taxes or have little to no refund? Personally, it's very rare that I get a refund, but I sure owed thousands in taxes this year.

I think that the recent tax adjustment hit blue states - and especially cities like New York - very hard, while red states are having a great ol' time collecting more in refunds.

I also know some housekeepers and other hourly employees getting thousands back. I can't figure it out: Besides having a child, or adjusting a holding of zero - what else can anyone do to get "thousands of dollars in refunds" instead of owing?

I have a low salary and low income and working 3 days a week. I recall on NY state (+ "local" ) taxes either getting a small refund like $40 or maybe having to pay a similarly low amount



But now I owe about $400 according to turbo Tax



I was thinking this could be an error on my part. But could such a big difference be due to Trump policy changes?



If I look at the state (+ local) section on my last year W2 based on 2017 at the sum of my state + local income tax and compare it to my wages that tax figure is 4.6% of my wages



Now when I do the same thing with my W2 for now (based on 2018) that figure is 3.5%


That is only about a 1% difference. It seems as per my wages, that lower percentage of tax is only about half of what I owe. I have until 12 pm tonight to finalize that online tax from but I'm wondering if I should file for an extension and either let H & R do it or try another program
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Old 04-15-2019, 02:11 PM
 
69,362 posts, read 69,945,255 times
Reputation: 46940
We saw the same 1% difference ....
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