02-12-2019, 01:34 PM
everything I read when the tax laws were passed, both sides, "be careful, your check might go up but your return will be zero or you might owe."
Married, claiming 1 each, zero kids, we have a house and put in an average of 19% of our pay into 401k/health savings, and have about 10% in charitable contributions... I expect to be down, maybe not pay.
The first year we got married and filed taxes was a "wakeup" call. I wish it was only $1,200 we owed ... BUT my accountant sat us down and we reworked the next year early enough that we were fine the next year. It is all about tax liability and you need to know what counts (and at what rate) and when. He also cleared up things pretty easily when I got an audit letter asking me to write the $9,800 check...
When the tax laws got released, our accountant reran everyones 2017 numbers and said about 20% of this clients were projected to owe that didn't owe in 2017. He also noted if your charitable contributions are down and/or you got a raise... save some dollars up and spend them after tax season clears.
Married, claiming 1 each, zero kids, we have a house and put in an average of 19% of our pay into 401k/health savings, and have about 10% in charitable contributions... I expect to be down, maybe not pay.
The first year we got married and filed taxes was a "wakeup" call. I wish it was only $1,200 we owed ... BUT my accountant sat us down and we reworked the next year early enough that we were fine the next year. It is all about tax liability and you need to know what counts (and at what rate) and when. He also cleared up things pretty easily when I got an audit letter asking me to write the $9,800 check...
When the tax laws got released, our accountant reran everyones 2017 numbers and said about 20% of this clients were projected to owe that didn't owe in 2017. He also noted if your charitable contributions are down and/or you got a raise... save some dollars up and spend them after tax season clears.
#99 - 2000 Civic Si (Future H2 Car, Former H1 car)
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NASA-MA Tech Inspector (Retired)