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Old Yesterday, 03:56 PM
 
Location: New York, NY
2,597 posts, read 2,116,478 times
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Marsha, what are you claiming 0, or 1? I am claiming 1 and I still got taxed out the ass. Although I did notice a paycheck to paycheck increase when those laws went into effect.
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Old Yesterday, 04:53 PM
 
1,313 posts, read 585,443 times
Reputation: 438
Quote:
Originally Posted by stormgal View Post
Marsha, what are you claiming 0, or 1? I am claiming 1 and I still got taxed out the ass. Although I did notice a paycheck to paycheck increase when those laws went into effect.
Claiming 1. I did too but itís not like itís mind blowing
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Old Today, 03:24 AM
 
5,130 posts, read 5,016,869 times
Reputation: 6081
Quote:
Originally Posted by stormgal View Post
Marsha, what are you claiming 0, or 1? I am claiming 1 and I still got taxed out the ass. Although I did notice a paycheck to paycheck increase when those laws went into effect.

I claimed zero on both my full-time and my part-time job. I still ended up owing almost double compared to last year.
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Old Today, 04:15 AM
 
Location: Wartrace,TN
5,423 posts, read 8,682,778 times
Reputation: 10754
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?
Look up the "Earned income tax credit". If you work but make less than a set amount you are actually entitled to a tax credit which results in a payment FROM the IRS instead of TO the IRS.

I live in Tennessee and due to our low state tax structure and having a paid off home it has never been advantageous to itemize. Yes I paid less in federal income tax this year than last.

I grew up in New York State and still have family there. My Mom pays three times the property tax that I do for a similar valuation. She also pays a State income tax (Tennessee does not tax income). When I visit it doesn't seem as if the services provided by government are any better.

I believe a good portion of your tax dollars are going to waste, fraud and corruption.
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Old Today, 05:52 AM
 
19,867 posts, read 13,057,963 times
Reputation: 13659
Quote:
Originally Posted by Wartrace View Post
Look up the "Earned income tax credit". If you work but make less than a set amount you are actually entitled to a tax credit which results in a payment FROM the IRS instead of TO the IRS.

I live in Tennessee and due to our low state tax structure and having a paid off home it has never been advantageous to itemize. Yes I paid less in federal income tax this year than last.

I grew up in New York State and still have family there. My Mom pays three times the property tax that I do for a similar valuation. She also pays a State income tax (Tennessee does not tax income). When I visit it doesn't seem as if the services provided by government are any better.

I believe a good portion of your tax dollars are going to waste, fraud and corruption.

OP makes too much for EITC for a single person without dependents. Need to be at <15, 270 per year which is truly busted by NYC standards.


Besides all tax software, programs and any half way decent preparer will do EITC calculations if AGI comes anywhere in range. TurboTax will ask you straight up if you want to run the numbers if it thinks (based upon information entered) you might qualify.


Rest of your post isn't telling anyone who lives in NYS much less NYC anything we don't already know. Taxes both locally and state level are higher than most other places in USA, especially the south.


As for services being "better" than TN or not; oh I don't know.


Much as many of us moan and wail NYC and NYS offer pretty decent welfare and other benefits if people are truly busted. It may not be all some want and or more than some think should be doled out; but never the less it exists.
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Old Today, 07:25 AM
 
Location: Manhattan
21,166 posts, read 27,771,159 times
Reputation: 9579
If the IRS owes you a refund, you can file late without penalty, even a year or two later.
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