That's not how taxes work. Figure out your effective tax rate and see if it changed.
did you get dividends from a saving account?
Although your mortgage interest stayed the same, the portion of each payment that went to paying off that interest was less than the previous year.
Instead of looking at your refund, compare 2024 total tax paid vs 2023 and see how those compare to their respective burdens.
Looking at last year's refund it was only 1,121 so the difference is actually just 884 less from last to this year.
2023 says withholding was 9, 146 and we only had to pay 8,025 thus the 1,121 refund. For 2024 it says a withholding of 9749 with a tax responsibility of 9,512 thus the 237 refund.
I dont think theres much I can do about that, right?
You made 10k more income and have an additional $1500 in tax liability. What's your marginal tax rate? You can check if it makes sense.
Ugh, taxes.Your estate still owes taxes on whatever you earned while living in 2024 in that case.
Can I just go ahead and die so I don't have to file this year?
Your estate still owes taxes on whatever you earned while living in 2024 in that case.As long as I don't have to spend the next two months trying to track down a 1099-WTF and a WD40 and a 1095-BBQ.
Married filing jointly tax marginal rate is 12% between 23k to 94k
Assuming standard deduction, 12% is going to be your marginal tax rate.
So 12% of 10k is 1200, which seems to roughly work out
Did you decrease or increase amount going into your 401k?
I never understand how it was supposed to be fair to have all the tax rebates go to people having kids. Arguably the people taking up more resources.Kids being taken care of is not only morally right, its a net positive on society
I never understand how it was supposed to be fair to have all the tax rebates go to people having kids. Arguably the people taking up more resources.
I got 180 bucks. After I paid for turbo tax it was 100. Turning a sucky thing into a positive, at least it dont owe anything. Taxes are a joke.
I got 180 bucks. After I paid for turbo tax it was 100. Turning a sucky thing into a positive, at least it dont owe anything. Taxes are a joke.
Cause it takes more money to raise someone? You're also bringing another consumer and producer into the world. It's not like you get a whole lot anyway.The only thing you know about that new person for sure is that theyre going to be sucking up resources that I pay for while you get a fucking rebate. And other people certainly shouldnt need to subsidize it unless there is some similar restitution being made for what I need.
The only thing you know about that new person for sure is that theyre going to be sucking up resources that I pay for while you get a fucking rebate. And other people certainly shouldnt need to subsidize it unless there is some similar restitution being made for what I need.For one, this same logic applies to pretty much everything taxes fund.
Im going to assume youve been married for a couple of years now so you may have forgotten but single people dont not get a lot.
They get fucked over. Theres almost no refund and theres certainly no $1000 rebate.
In a world where we have too many fucking people, the time to subsidize the middle class shitting out babies left and right is over.
Having a smaller refund is a good thing, it means you gave the government less of your money interest free on loan for a year.Explaining this every tax season is the modern version of Sisyphus.
Explaining this every tax season is the modern version of Sisyphus.It's also really dumb. The most common missing of the point in the entire first quarter of every year.
Yeah my wife worked a full year at her job so we jumped a tax bracket and our refund also went down. Oh well.
Explaining this every tax season is the modern version of Sisyphus.
The only thing you know about that new person for sure is that theyre going to be sucking up resources that I pay for while you get a fucking rebate. And other people certainly shouldnt need to subsidize it unless there is some similar restitution being made for what I need.The money isnt to subsidize the people having kids, its to subsidize the kids, who, it should be noted, generally dont work to pay for their own food
Im going to assume youve been married for a couple of years now so you may have forgotten but single people dont not get a lot.
They get fucked over. Theres almost no refund and theres certainly no $1000 rebate.
In a world where we have too many fucking people, the time to subsidize the middle class shitting out babies left and right is over.
The money isnt to subsidize the people having kids, its to subsidize the kids, who, it should be noted, generally dont work to pay for their own foodShouldnt the parents be doing that?
Shouldnt the parents be doing that?
Because giving only parents the tax break means were subsidizing your children.
Do you disagree with disability payments?Its not only limited to those in need.
Its not only limited to those in need.
All parents filing who have children get included so this has nothing do with the disabled or kids who are in need.
You and I are paying Donald Trump a Child Tax credit for Barron.
There's an income limit for the tax credit. Means testing benefits is rarely worth it anyway, so I don't even think we should have an income limit. Just claw back the money from higher income people through taxesBecause
But my question was more, are you fine with a disabled adult getting benefits? If so, why is that different than from a child getting benefits?
Having kids is you grown an economy and thus wallstreet. You may not have kids, but your investments also depend on this.You are reaching unbelievably far.
Shouldnt the parents be doing that?
Because giving only parents the tax break means were subsidizing your children.
And thats not based on need or anything. Its just all children.
Even if they got rid of the tax credit for kids, its not theyd decide to lower taxes for everyone. So youd still get nothing.I would save
BecauseIt is reciprocated. The child becomes an adult and adds to the workforce, paying for services that you use. Social security for example.
theres no reciprocation so this is all one way,
parents can pay for their own kids or utilize the existing systems to see to their well being,I mean, part of that existing system are things like that child tax credit. Are you also against public education? Free meals at school? Services they are paid for by the community regardless of if you have a child or not. If not, how are those different?
Is it child tax credits in particular you're against, or like most forms of tax credits? I want to understand the baseline hereI was pretty clear this is about the child tax credit.
The government wants people to have kids, so theres a tax benefit to having kids.You could look at it that way
You guys are overthinking it.