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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.
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.
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....
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!
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
My NY State Taxes ar higher yes but seem too high. An Error?
Quote:
Originally Posted by stormgal
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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My NY State Taxes ar higher yes but seem too high. An Error?
