Your refund has NOTHING to do with your tax bill and EVERYTHING to do with your withholding. But nobody understands how anything works anymore
Your refund has NOTHING to do with your tax bill and EVERYTHING to do with your withholding. But nobody understands how anything works anymore
@Tyler_The_Wise This is what happens when department stores stop offering Christmas Club accounts.
@Tyler_The_Wise I wouldn't say nothing, since what you earn and how you earn it would influence your hypothetical tax burden and refund, but obviously, withholding is what really matters. FWIW, even those working in this space aren't entirely sure what's happening. politico.com/news/2024/04/1…
@Tyler_The_Wise The 2017 Tax Act playing a number on all of us. What I use to write off as an educator, I can no longer do.
@Tyler_The_Wise Taxes also went up on a lot of working class people this year because of the Trump Tax Cuts. Good thing is billionaires can write their private jets off for "business"
@Tyler_The_Wise I had this conversation just this week with people I thought were well educated. It was like they gauge their entire financial well-being on the size of their refund. If you manage your tax burden correctly, your refund should be zero.
@Tyler_The_Wise I mean I understand what you’re trying to say but it has to do with both.
@Tyler_The_Wise "Refund" is such an interesting word. Oh yay, the government let me have my money back...my own money, that I earned, that they kept from me for many moons. SO glad I got a "refund" this year...
@Tyler_The_Wise Are you trying to say that our system of taxes and filing is easily understandable?
@Tyler_The_Wise A lot of people withheld the same but were taxed more this year. From the bill Paul Ryan passed and resigned on as his capping achievement. The changes have been cascading down income brackets until this year. Do you know how anything works anymore