# Is it just me or are taxes I owe this year is less?



## Urbanappalachian (Dec 11, 2016)

Yet I made more earnings this year compared to last year yet I paid more in taxes last year. Not sure if I overpaid last year and they're just realizing my mistake that's probably why or I'm making a mistake (I will double check just to make sure).


----------



## Taxi2Uber (Jul 21, 2017)




----------



## SurgeMasterMN (Sep 10, 2016)

Trump Trump ?? Fake Newz would say you are paying more in.


----------



## 25rides7daysaweek (Nov 20, 2017)

Urbanappalachian said:


> Yet I made more earnings this year compared to last year yet I paid more in taxes last year. Not sure if I overpaid last year and they're just realizing my mistake that's probably why or I'm making a mistake (I will double check just to make sure).


Our tax breaks were for a year. Corporate rates dropped permanently. Thanks Trump, that makes us like dogs begging for scraps at the dinner table...


----------



## Urbanappalachian (Dec 11, 2016)

I see. I was assuming these rideshare companies changed up some rules with the IRS to benefit the driver, A LITTLE! I'm not even sure if I owe this money or it's "due" to me?


----------



## Taksomotor (Mar 19, 2019)

I ended up paying a lot more taxes this year compared to 2017. I have a house and a mortgage and this year I am losing most of the mortgage interest benefits, cause I can't deduct them, I hit the stupid cap way before that! F-ing Trump!


----------



## UberMpls (Mar 6, 2017)

The bottom line is if you own a house and were able to itemize before you will get screwed. If you took the standard deduction before you'll make out better. No more tax advantage in owning a home. All exemptions have been ELIMINATED.


----------



## Rickos69 (Nov 8, 2018)

Taksomotor said:


> I ended up paying a lot more taxes this year compared to 2017. I have a house and a mortgage and this year I am losing most of the mortgage interest benefits, cause I can't deduct them, I hit the stupid cap way before that! F-ing Trump!


That was an unfair situation.
So, because you could deduct state and local property taxes from your federal return, there was absolutely no incentive for state and local officials to be fiscally sane. Oh, we'll just raise the taxes, they won't mind, they can deduct them from their federal taxes!!
That is a pile of liberal poop! CA, IL, NY, NJ.



25rides7daysaweek said:


> Our tax breaks were for a year. Corporate rates dropped permanently. Thanks Trump, that makes us like dogs begging for scraps at the dinner table...


Talk to your congressman for permanent reductions. This is not Trump's fault.
He has a crapload of faults, but this is not one of them.


----------



## Taksomotor (Mar 19, 2019)

I don't care for the reason. I know my bottom line was better off before Trump. I will vote against him.


----------



## Shynrix (Aug 15, 2014)

Must be fckn nice~ I got a 1k refund last year and paid $9100 this year~ to be fair my again changed from 10k to 40k and I had a little bit of w2 withholding last year but still, I thought with the tax cut I would pay 4-5k at most~


----------



## RDWRER (May 24, 2018)

Every year I’ve paid $200 - $400 in taxes owed but surprisingly this year I’m getting my first ever refund of $2000. I completely expect a notice in the mail from the government saying I made a mistake somewhere and owe them back the money... ?‍♂


----------



## Older Chauffeur (Oct 16, 2014)

Taksomotor said:


> I ended up paying a lot more taxes this year compared to 2017. I have a house and a mortgage and this year I am losing most of the mortgage interest benefits, cause I can't deduct them, I hit the stupid cap way before that! F-ing Trump!


Your purchase mortgage interest is deductible up to a value of $750,000 (one million on loans taken before 12/15/17) on primary and secondary homes. Home equity loan interest is deductible only if the proceeds were used to buy or improve your home.

Perhaps you are thinking of the SALT limit (State & Local Taxes) of $10,000? That's a killer for homeowners in states with high home values combined with high property taxes like California, among others.

Your state, Massachusetts, has an average effective rate of 1.21%, and a median tax bill of $4132 for real property.

Read more at this link: https://www.irs.gov/pub/irs-pdf/p936.pdf

Disclaimer: I'm not a tax professional.


----------



## Driver100 (Aug 1, 2015)

They really are lower; very simplistically everyone got an extra $1,000.

Two factors were expanding the standard deduction big time and the business credit- those affect a lot of Uber drivers.


----------



## JimKE (Oct 28, 2016)

Taksomotor said:


> I ended up paying a lot more taxes this year compared to 2017. I have a house and a mortgage and this year I am losing most of the mortgage interest benefits, cause I can't deduct them, I hit the stupid cap way before that! F-ing Trump!


Your problem is Taxa-chusetts, not Trump.

The rest of us have been carrying you and your high taxes all these years, and now we're not. Well actually, we are, but only to the tune of $10,000. You still get to deduct the first $10,000 -- which is more than I PAY, and I have a very nice house.

You want high taxes? No problem. But YOU pay them. I'm tired of paying your taxes.


----------



## Taksomotor (Mar 19, 2019)

JimKE said:


> Your problem is Taxa-chusetts, not Trump.
> 
> The rest of us have been carrying you and your high taxes all these years, and now we're not. Well actually, we are, but only to the tune of $10,000. You still get to deduct the first $10,000 -- which is more than I PAY, and I have a very nice house.
> 
> You want high taxes? No problem. But YOU pay them. I'm tired of paying your taxes.


I have been living in Taxachusetts my whole life and with Trump my tax return is the worst ever! Trump is the problem!


----------



## JimKE (Oct 28, 2016)

Taksomotor said:


> I have been living in Taxachusetts my whole life and with Trump my tax return is the worst ever! Trump is the problem!


LOL.


----------



## theMezz (Sep 29, 2018)

Taksomotor said:


> I ended up paying a lot more taxes this year compared to 2017. I have a house and a mortgage and this year I am losing most of the mortgage interest benefits, cause I can't deduct them, I hit the stupid cap way before that! F-ing Trump!


That make no sense, because

1) mortgage interest IS deductible for 2018 
https://ttlc.intuit.com/questions/1899697-can-i-deduct-my-mortgage

and

2) the standard deduction is now 12K for single and 24K for married, so even if you do not itemize and take the standard deduction your saving money

I think you just are a anti-trumper !


----------



## observer (Dec 11, 2014)

UberMpls said:


> The bottom line is if you own a house and were able to itemize before you will get screwed. If you took the standard deduction before you'll make out better. No more tax advantage in owning a home. All exemptions have been ELIMINATED.


"All exemptions have been eliminated".

Except of course if you are a corporation.


----------



## Uber's Guber (Oct 22, 2017)

Yeah, I know.... you’re overcome with shock when you realize that fake news (CNN, MSNBC, NYT) had you sucked in for the last 2 years.


----------



## Workforfood (May 12, 2018)

Urbanappalachian said:


> Yet I made more earnings this year compared to last year yet I paid more in taxes last year. Not sure if I overpaid last year and they're just realizing my mistake that's probably why or I'm making a mistake (I will double check just to make sure).


The new 2019 standard tax deduction was doubled from last year. We are not taxed on the first $12000 not $6000.


----------



## SEAL Team 5 (Dec 19, 2015)

Urbanappalachian said:


> Yet I made more earnings this year compared to last year yet I paid more in taxes last year. Not sure if I overpaid last year and they're just realizing my mistake that's probably why or I'm making a mistake (I will double check just to make sure).


That's because the standard personal deduction increased while itemized deductions decreased. Let me see if I can guess some things about you. You rent not own, you don't have any kids in college and you didn't withdraw any capital gains last year.


----------



## tohunt4me (Nov 23, 2015)

25rides7daysaweek said:


> Our tax breaks were for a year. Corporate rates dropped permanently. Thanks Trump, that makes us like dogs begging for scraps at the dinner table...


Or like Govt. Benefit Recipients Voting Democrat ?


----------



## Seamus (Jun 21, 2018)

theMezz said:


> That make no sense, because
> 
> 1) mortgage interest IS deductible for 2018
> https://ttlc.intuit.com/questions/1899697-can-i-deduct-my-mortgage
> ...


Not for or against Trump.

Many people used to have itemized deductions in the neighborhood of 35 to 45k so with the elimination of most itemized deductions the 24k does not cut it.

Also, doesn't matter that mortgage interest is still deductible. With the loss of the other itemized deductions it is far below the threshold of the standard deduction. There is "in effect" no more tax advantage in owning a home.

The politics of it all doesn't matter. If you are paying $10k more in taxes this year it stings!


----------



## islanddriver (Apr 6, 2018)

Because the rest of us have been footing the bills you homeowners fee is welcome to the club


----------



## Seamus (Jun 21, 2018)

islanddriver said:


> Because the rest of us have been footing the bills you homeowners fee is welcome to the club


While homeowners have been footing the bill for renters kids to go to school and all to receive municipal services. It's easy to make someone else the bad guy and justify it.


----------



## Launchpad McQuack (Jan 8, 2019)

Seamus said:


> While homeowners have been footing the bill for renters kids to go to school and all to receive municipal services. It's easy to make someone else the bad guy and justify it.


Yeah, because property owners don't take property taxes into account when setting rental rates. They set the rates independently and if the property taxes are high, then they just take a loss on the rental property, right? Of course not. Renters pay property taxes. They just don't pay them directly. They pay them indirectly through their landlords as the property taxes are incorporated into their rent.


----------



## Seamus (Jun 21, 2018)

Launchpad McQuack said:


> Yeah, because property owners don't take property taxes into account when setting rental rates. They set the rates independently and if the property taxes are high, then they just take a loss on the rental property, right? Of course not. Renters pay property taxes. They just don't pay them directly. They pay them indirectly through their landlords as the property taxes are incorporated into their rent.


LOL I was waiting for someone to say that indirectly they do! I have been on the site too long when I can predict the immediate response. Bottom line you don't. "Indirectly" LOL. I'm not a lawyer but after reading all the legal advice on this forum, maybe "indirectly" I am. My taxes pay for Medicaid so maybe "indirectly" I'm an insurance company. I don't run my city but since I voted "indirectly" I'm the Mayor! I own stock in a pharmaceutical company so I guess "indirectly" I fueled opioid addiction!

Whatever makes you feel better. You should thank a property tax payer, not equivocate.


----------



## Launchpad McQuack (Jan 8, 2019)

Seamus said:


> You should thank a property tax payer, not equivocate.


Okay, if I'm so predictable, tell me my response to this before I make it.


----------



## Seamus (Jun 21, 2018)

Launchpad McQuack said:


> Okay, if I'm so predictable, tell me my response to this before I make it.


Starts with an F and it ends with a U. The Amazin Seamus has a crystal ball! LOL.


----------



## Launchpad McQuack (Jan 8, 2019)

Seamus said:


> Starts with an F and it ends with a U. The Amazin Seamus has a crystal ball! LOL.


My response is that I _am_ a property tax payer...........directly, due to property ownership. I also fully recognize, though, that the cost of property taxes on rental property get passed on to the renters. This has to be done, otherwise the landlord would not be making money. I have tinkered with the idea of buying rental property, and when I crunched the numbers I found that my profit margin would be fairly small, given the market rental rates and property tax rates.


----------



## Seamus (Jun 21, 2018)

Launchpad McQuack said:


> My response is that I _am_ a property tax payer...........directly, due to property ownership. I also fully recognize, though, that the cost of property taxes on rental property get passed on to the renters. This has to be done, otherwise the landlord would not be making money. I have tinkered with the idea of buying rental property, and when I crunched the numbers I found that my profit margin would be fairly small, given the market rental rates and property tax rates.


I used to own rental properties and sold them off. The only people that make money on it are slumlords who put nothing in to the upkeep as there is always something unexpected happening to expend more money than you think. Also, the county I live in has rent control so if you buy a qualifying property you'll lose your shirt.

After doing it for several years my opinion is for most people it's a bad idea. About the best I could get out of it was trying to break even on the operational cost of ownership and then selling after an accumulated property value increase. If you're conscience always you to be a slumlord, or if you inherited property and own it outright, then you can have positive cash flow.


----------



## islanddriver (Apr 6, 2018)

first off renters due pay property tax in their rent if you couldn't make money with rental property that your problem . second it's New York's politicians that is screwing us on taxes and nobody else as soon as we all wake up and learn that we all be better off. Coumo is give free collage to illegals talk to him about taxes.


----------



## UberMpls (Mar 6, 2017)

theMezz said:


> That make no sense, because
> 
> 1) mortgage interest IS deductible for 2018
> https://ttlc.intuit.com/questions/1899697-can-i-deduct-my-mortgage
> ...


All exemptions have been ELIMINATED. So no more claiming yourself, your spouse or any of your kids. Exemptions have been in place since the civil war, now they are gone. That's a $4000 write off for each exemption. Poof! Gone. The money going to the rich has got to come from somewhere.


----------



## theMezz (Sep 29, 2018)

What country do you live in?


----------



## Seamus (Jun 21, 2018)

islanddriver said:


> first off renters due pay property tax in their rent if you couldn't make money with rental property that your problem . second it's New York's politicians that is screwing us on taxes and nobody else as soon as we all wake up and learn that we all be better off. Coumo is give free collage to illegals talk to him about taxes.


I don't care about the politics of it! They all suck! Its very simple:

I get more money back in taxes this year=:smiles::smiles::smiles::smiles::smiles:
I pay more in taxes this year=:thumbdown::thumbdown::thumbdown::thumbdown::thumbdown:
I paid less in taxes this year=:coolio::coolio::coolio::coolio::coolio:
Someone else had to pay more this year= F em they deserve it!

Pretty simple and non political.


----------



## theMezz (Sep 29, 2018)

I paid less in taxes too. (A lot less)

I am not talking about a tax refund or amount owed at end of year - I am talking about the true and accurate amount of tax paid for the entire year of 2018. _THAT_ was less.

Isn't it aggravating when people overpay all year and then they brag about a nice tax refund; or when they underpay all year and then ***** about how much taxes they pay at the end of the year.


----------



## mmn (Oct 23, 2015)

theMezz said:


> ...Isn't it aggravating when people overpay all year and then they brag about a nice tax refund; or when they underpay all year and then @@@@@ about how much taxes they pay at the end of the year.


And they'll never get it.

"I didn't pay any taxes this year. In fact, I got a refund "...!


----------



## Seamus (Jun 21, 2018)

theMezz said:


> I paid less in taxes too. (A lot less)
> 
> I am not talking about a tax refund or amount owed at end of year - I am talking about the true and accurate amount of tax paid for the entire year of 2018. _THAT_ was less


You have led a very simple tax life but not everyone fits into your simplified box. WRONG for some it wasn't less.

The % means nothing if your TAXABLE INCOME went way up even if your Gross income stayed the same. IDK why its impossible to understand that YOUR situation is not EVERYONE else's situation. Other than to blovicate I guess whatever your simplified view is should allow for the fact that others had a different affect than you.


----------



## theMezz (Sep 29, 2018)

UberMpls said:


> All exemptions have been ELIMINATED. So no more claiming yourself, your spouse or any of your kids. Exemptions have been in place since the civil war, now they are gone. That's a $4000 write off for each exemption. Poof! Gone. The money going to the rich has got to come from somewhere.


But the standard deduction has doubled for 2018 plus you get a 20% tax deduction on net business income - that means you. ( ref: https://intuit.me/2VY47yx )

The standard deduction for married is now $24,000 !

Only 20% of the people will pay more taxes, maybe you are one of them. But 80% of us paid less taxes. 
( ref: tax foundation https://taxfoundation.org/tcja-one-year-later/ )

The Trump hater newspapers like the Washington Post mislead people by looking at tax refund checks, not total amount of tax paid over the entire year. ( example: https://wapo.st/2DpYj9K )

If you are one of the 20% paying more than sorry man ... that sucks.

As far as a simplified view, yes I am trying to do that so you can understand better. My tax return was 80 pages and I have 3 businesses and file 3 Schedule C's and have multiple streams of income - so I certainly have experienced complex taxes.


----------



## amazinghl (Oct 31, 2018)

mmn said:


> And they'll never get it.
> 
> "I didn't pay any taxes this year. In fact, I got a refund "...!


Ignorance is bliss, let's just hope they don't vote.


----------



## Seamus (Jun 21, 2018)

theMezz said:


> But the standard deduction has doubled for 2018 plus you get a 20% tax deduction on net business income - that means you. ( ref: https://intuit.me/2VY47yx )
> 
> The standard deduction for married is now $24,000 ! * Small consolation for those that used to have 40K+ in itemized deductions that now have to take the standard deduction for the first time in their adult life.*
> 
> If you are one of the 20% paying more than sorry man ... that sucks. *Thanks, nobody cares about us living in Red state over-taxed socialism run high tax states that can't give enough freebies away. Unfortunately I live in the county that has the distinction of being the #1 property taxed county in the country. In a few years I'll join all the other NYers moving to Florida! LOL.*


----------



## hrswartz (Jan 4, 2019)

Seamus said:


> LOL I was waiting for someone to say that indirectly they do! I have been on the site too long when I can predict the immediate response. Bottom line you don't. "Indirectly" LOL. I'm not a lawyer but after reading all the legal advice on this forum, maybe "indirectly" I am. My taxes pay for Medicaid so maybe "indirectly" I'm an insurance company. I don't run my city but since I voted "indirectly" I'm the Mayor! I own stock in a pharmaceutical company so I guess "indirectly" I fueled opioid addiction!
> 
> Whatever makes you feel better. You should thank a property tax payer, not equivocate.


In my world, if I was King, only property owners would have the right to vote...


----------



## Matt Uterak (Jul 28, 2015)

theMezz said:


> I paid less in taxes too. (A lot less)
> 
> I am not talking about a tax refund or amount owed at end of year - I am talking about the true and accurate amount of tax paid for the entire year of 2018. _THAT_ was less.
> 
> Isn't it aggravating when people overpay all year and then they brag about a nice tax refund; or when they underpay all year and then @@@@@ about how much taxes they pay at the end of the year.


People who get a large refund without unexpected changes shouldn't brag, but I've found that some folks (I know 2) benefit from over withholding. They can't spend it if they don't have it. The larger amount is easier to shame them into funding a Roth IRA or save a substantial amount.


----------



## FLKeys (Dec 27, 2018)

Matt Uterak said:


> People who get a large refund without unexpected changes shouldn't brag, but I've found that some folks (I know 2) benefit from over withholding. They can't spend it if they don't have it. The larger amount is easier to shame them into funding a Roth IRA or save a substantial amount.


Very true but those in my opinion are the very few. Most people I know that get big refunds blow it right away on stupid stuff. I do know one lady that uses it as her annual vacation fund so I really don't consider her blowing it on stupid stuff.

Opposite of that one lady I work with uses her big tax return to pay off her credit card every year, so she stupidly has extra with held, charges up her credit card paying at least 13%+ in interest for a year just to pay it off with her tax return. She just does not understand how much that really costs her over a years time. Can't fix stupid.


----------



## Disgusted Driver (Jan 9, 2015)

FLKeys said:


> Very true but those in my opinion are the very few. Most people I know that get big refunds blow it right away on stupid stuff. I do know one lady that uses it as her annual vacation fund so I really don't consider her blowing it on stupid stuff.
> 
> Opposite of that one lady I work with uses her big tax return to pay off her credit card every year, so she stupidly has extra with held, charges up her credit card paying at least 13%+ in interest for a year just to pay it off with her tax return. She just does not understand how much that really costs her over a years time. Can't fix stupid.


Can't fix stupid indeed. It never ceases to amaze me how ignorant people are in regards to financial literacy and understanding the difference between want and need.


----------

