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I did mine last Sunday but I noticed that the process is significantly slower this year. Last year my refund got approved after 3 days. This year after 5 days later and it’s still in “refund received” status, undoubtedly due to both the government shutdown and the tax laws changing.
Seems close to me. Of course it will differ depending on the situaiont- there are 401k contributions, FSA, HSA, exemptions that impacts the net. After everything is taken out before our direct deposit (contributions, health insurance, parking, etc) we net about 5k a pay period between the two of us (bi-weekly), so that's roughly 10k/mo give or take. And the numbers below can go somewhat up or down of course depending on the situation.
Childcare-2-3000 (depends on what we can manage in the summer)- cannot write that off
Utilities -800-1000 (electric, oil, wood, well maintenance, plow)
Food-6-800ish
2 cars - 500
Student loans- 800-1000- sometimes less
Commuting - 3-400
Children stuff- 300 (529, gymnastics, clothes, shoes)
CC debt- 4-600- we don't use cards, but did when the kids were younger/babies
Car insurance, cell phones (150 for 2 lines), CVS, MISC, -4-500
This is not middle class living? If not, I think the definitions have changed. I have colleagues going to Disney land, living in 600-700k homes, etc and I don't know how they do it.
Either they are in more debt or don’t catty amount of debt that you have
I did mine last Sunday but I noticed that the process is significantly slower this year. Last year my refund got approved after 3 days. This year after 5 days later and it’s still in “refund received” status, undoubtedly due to both the government shutdown and the tax laws changing.
That is weird because my refund has been approved after 3 days after doing my taxes last Friday and I got my state tax refund today and will be getting my federal refund on Wednesday
Either they are in more debt or don’t catty amount of debt that you have
I just figure the student loan debt as a reduction of our salaries. Although, I suspect they just have more money. One of them is in finance. They always bring in more and probably have investments. We don’t -yet.
That is weird because my refund has been approved after 3 days after doing my taxes last Friday and I got my state tax refund today and will be getting my federal refund on Wednesday
Mine was approved after three days last year, and I haven’t even checked on my state yet. It is weird.
This is not middle class living? If not, I think the definitions have changed. I have colleagues going to Disney land, living in 600-700k homes, etc and I don't know how they do it.
What we discovered back in 2008 was it was all debt. People in our town all had new cars for husband and wife, kids had BMW's, $400k house, another house at the Jersey shore, everything.
Then the financial crisis hit and the layoffs came. All the cars were leased and were repossessed, shore homes were foreclosed on and more than a few main homes were foreclosed as well.
Everything was leveraged and they were living paycheck to paycheck.
We didn't have as much as they all did, but what we had we got to keep.
I calculated our 2018 taxes today and then re-calculated what they would have been under the 2017 law. We're better off by about $3500 under the new law. AGI of about $170k so we are not wealthy.
I calculated our 2018 taxes today and then re-calculated what they would have been under the 2017 law. We're better off by about $3500 under the new law. AGI of about $170k so we are not wealthy.
Wow. That's the opposite of us and our HHI is about the same. I figure about $2,680 less was withheld, but we went from owing $300 to $5800. I wonder what the difference is. Do you have children under 17 (ours just turned 18)?
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Do you have children under 17 (ours just turned 18)?
