Poll: Did You Owe More Or Less Tax This Year?

[jyl]

Poll: Did you owe more or less in Federal income tax on 2018 compared to 2017? As a percent of AGI.

[McLovin]

Way, way less.

[LWJ]

Unsure just yet. However, my amount owed is astronomical compared to any prior year. I earned more, had more losses, but the auto changes on withholding absolutely killed me.

I think my tax rate may be similar. That is a tomorrow task. I was supposed to pay 4-8 k less this year when my accountant did a pro- forma last year???

[cabmandone]

I asked my accountant to run a comparison between old rules and new. I ended up saving about 6K thanks to the new tax laws.

[Jims5543]

Mine would have been less except I have to pay 1 more year of an Obamafine.

I would have seen a 3.5% drop in taxes, except I had to pay 2.5% in Obamafines due to not having a complying policy.

So next year will be my year. Thanks Obama!

[GH85Carrera]

Way way more.

[masraum]

I know some folks that live in states with high property taxes and state income taxes. I think they are taking a beating this year since I think there's now a limit to how much of those two things can be deducted from their Fed taxes.

We don't have to worry about either of those things here. This year was an improvement over last year for us.

[911boost]

That did affect me as well Steve.

[id10t]

Got way more back, but also lost 15k in income

[peppy]

Our percentage was less, but I had to write a big damit check. Wife retired and her pensions withholdings need adjusting.

[gprsh924]

About an 18% reduction in tax due on very similar income, despite having SALT deductions severely capped.

No AMT impact this year, which is nice.

[72doug2,2S]

Less for 2018, but dependents are coming off and that is changing everything for 2019.

[Macroni]

Accelerated depreciation.......

[jyl]

My owing more is because of the reduced federal credit for state and local taxes.

Most middle to high middle income earners in my state, who I know, owe more this year for that reason. The higher standard deduction doesn't help because we itemize. Oregon is a high tax state - well, maybe not when you consider no sales tax on anything, but that doesn't show up in tax returns. Fortunately my house isn't worth enough for the mortgage interest deduction cap to matter.

I also failed to withhold enough so had to write a check and hopefully won't have a penalty.

[Hugh R]

$5,000 less, but I retired and income went way down.

[stomachmonkey]

120% more.

Not being able to write off 40% of property taxes certainly did not help.

[VincentVega]

its ugly here

[Bill Douglas]

More.

[KFC911]

Me...just a bit less....my elderly parents will now pay a couple thousand every year from now on....at least they're no longer getting a FREE ride on private jet owner's tab....it's MOAPTA....Makin' Older Americans Pay Taxes Again.....I reckon'

[KFC911]

Originally Posted by McLovin

Way, way less.

Get a job !