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No need. All that needs to happen is that they live within or below their means.
And what makes you think they aren't "living within their means"? I really get tired of this holier than thou attitude that seems to be pervasive in these threads.
You don't have to be poor in order to use your refund as a 'bonus' of some kind. My tax advisor told me years ago that if one is a great saver - then keep more if your paycheck if you know you AREN'T a great saver - then use your refund to accumulate some money.
Exactly! Especially when bank interest is less than 1%. Maybe these financial gurus think these people should go open a Fidelity brokerage account and invest their $75 or $100 a month in the stock market?
No need. All that needs to happen is that they live within or below their means.
Why should they when Trump bullies the Fed into not allowing interest rates to be closer to market? We are "told things" by the actions of our admins. Low interest rates say "a party going on".
When a POTUS called HIMSELF the "King of Debt", what is he telling people?
Given this leadership, all these folks should be heroes of the Trumpies - after all, Donald always bought things (like his boat and the Taj Mahal in AC) that he could not afford. Then he filed Bankruptcy...
Exactly! Especially when bank interest is less than 1%. Maybe these financial gurus think these people should go open a Fidelity brokerage account and invest their $75 or $100 a month in the stock market?
Early on I lamented about that 32 in extra interest I paid the government for underpaying them.
Same deal goes with overpaying, which I have done by many thousands. It gets applied to the next quarterly estimate.....and I could have "made" $50 or $100 by taking an hour or two and calculating everything exactly as I went along and trying to pay perfectly.
Doesn't matter either way, really.
That certainly is not the problem with larger or smaller refunds.
Why would anyone in this forum give you "the numbers"? It's none of your business. If they need help figuring out their taxes they can get free help from IRS, And I'm sure it would be better than relying upon self taught tax experts on an anonymous internet forum.
Here's the gist... The OP complained about paying more in taxes in 2018 than in 2017, and also claimed he/she earned more in 2018 than 2017 and was still in the same marginal tax bracket. Here's where the lack of comprehension comes in... Every additional dollar one earns above their top marginal tax bracket minimum threshold is taxed at that highest marginal tax rate. That means the increase in his/her income over that in 2017 was taxed at that highest marginal tax rate. So, of course the OP paid more in federal income tax than in 2017, and likely a higher effective federal income tax rate, as well.
Why would anyone in this forum give you "the numbers"? It's none of your business. If they need help figuring out their taxes they can get free help from IRS, And I'm sure it would be better than relying upon self taught tax experts on an anonymous internet forum.
The "numbers" are the percentage of (total federal tax paid - (FICA + Mediwelfare))/federal taxable AGI for tax years 2017 and 2018.
If the percentage for 2018 is higher than 2017, than yes, the OP "paid" more taxes. If not, then they paid less or the same. The two percentages aren't exactly privacy data, since they don't have any meaning that relates to income, deductions, etc. Just two percentages compared to one another.
But thanks for sticking up for the mathematically illiterate. Math is hard, and they need your protection. :thumbs:
go up to Newton, Green or Sparta, and you are in the country...and you can get a real nice place for 250k.... nothing near you, might have to drive a half hour to get to a real grocery store.. but it is there
Well, yeah, but that's a short sale, not a normal market price.
And you are right. My sister lives in Hamburg, and she got a condo for $143K with more square footage than mine that I bought for $180K in Monmouth. In Sussex County, and probably in some of the South Jersey counties, you could find something for $250K. Still wouldn't be a "palace", but a nice enough house.
Well, yeah, but that's a short sale, not a normal market price.
And you are right. My sister lives in Hamburg, and she got a condo for $143K with more square footage than mine that I bought for $180K in Monmouth. In Sussex County, and probably in some of the South Jersey counties, you could find something for $250K. Still wouldn't be a "palace", but a nice enough house.
MQ - He didn't point out that the yearly property tax bill on that home was $12,360 in figuring out the monthly payment. But being a NJ house that amount of property tax doesn't require an exclamation point. I feel for your sister in Hamburg having to travel down Rte 23 on a snowy, icy day.
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I feel for your sister in Hamburg having to travel down Rte 23 on a snowy, icy day.
