2nd year of trump taxes

[SDANation]

And it’s only getting worse. This year I get to owe the federal government $4500 and that’s with receiving $3600 back from the state. Yay! Despite the fact that California sends more revenue to federal government than any state in the union I can’t help but feel directly targeted by the administration due to me living in a blue state. The SALT CAP is crushing our working/middle class family. All the more angering when the top 1% got a big tax cut. While yes the SALT deduction benefits those who are already well off, I feel like it still needs to exist because the coastal states have a much higher cost of living and families like mine get screwed. Anyways, rant over. Trump and his ilk have got to go.

[gibraltar72]

1. On a post card right??

[MissB]

2. Similar here

Although Oregon triggered a kicker refund this year (worst idea ever but no way to change it as the voters want their kicker) so the pain is more offset.

Next year will be a bit bleaker, though I’m sure I’ll be prepared.

I’m not in penalty territory yet so I tend to just leave things as they are and pony up at tax time. We aren’t under withholding.

[LizBeth]

6. In Oregon last year I had to write a check to state.

I was really offended seeing that I declare 0 getting the most taken out and I do not make much over minimum wage. What is the kicker refund? I have not heard of it.

[MissB]

7. The kicker refund

The kicker is triggered when the incoming tax receipts are X% over what our state economists predict in advance what we will get. So the economists get out their crystal ball, predict how much the state will take in for taxes and if they are off by X%, the $ over that much has to be refunded to the taxpayers.

There is no saving for a rainy day. If the state is short the next year that’s too bad.

Anyway, it used to be that the state printed off checks and mailed them in November-ish I think. Now it’s just refunded as part of the tax filing process. I use TurboTax and it’s built into the programming.

On edit: it will reference the oregon tax that you paid last year, so the good news is you’ll get a bit of that back (or owe less this year).

[MANative]

3. I did my Federal taxes using the pre-tRump method and the current rules...

Would have been a $3100 refund under old rules. New ones? I owe $1100. So. Much. Winning.

[MichMan]

4. Mine went down $2600

Married, no dependents and taking the standard deduction. Haven't itemized for many years.

[Nonhlanhla]

5. I'm afraid to do our taxes

Our taxes went up last year (ugh) but we've recently moved from PA to VA, so we'll see what this tax season brings.