Thread: Tax time.....
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jwasbury jwasbury is offline
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Join Date: Jan 2008
Location: Weehawken, NJ
Posts: 3,593
my back of the envelope calcs indicated my bill was going up. i have been paying with my return for years, so i adjusted my withholdings upwards to compensate for both the larger tax burden, and also the fact that the withholding formulas that were issued with the tax reform bill resulted in LESS withholding than under the old laws.

the change in withholding tables and decreased taxes taken out of peoples wages is probably going to catch a lot of folks out. those of us in high tax states like NY and NJ who make enough scratch to live decently in this area are not beneficiaries of the tax reform bill, but the dumb withholding tables assume that everyone benefits.
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Current: 1983 911 GT4 Race Car / 1999 Spec Miata / 2000 MB SL500 / 1998 MB E300TD / 1998 BMW R1100RT / 2016 KTM Duke 690
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Old 02-22-2019, 04:29 AM
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