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

Urbanappalachian

Active Member
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).
 

25rides7daysaweek

Well-Known Member
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

Active Member
  • Thread Starter Thread Starter
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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

Well-Known Member
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

Member
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

Well-Known Member
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.
Post automatically merged:

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.
 

Shynrix

Active Member
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~
 
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RDWRER

Well-Known Member
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

Well-Known Member
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

Member
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

Well-Known Member
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

Well-Known Member
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!
 

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