Let us keep this thread about our personal income tax differences between this year's filing and last year's. All this other stuff is another subject.
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╟JPG ╢
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Goldie(Bought New SN 377425)/4" jointer/6" beltsander/12" planer/stripsander/bandsaw/powerstation /Scroll saw/Jig saw /Craftsman 10" ras/Craftsman 6" thicknessplaner/ Dayton10"tablesaw(restoredfromneighborstrashpile)/ Mark VII restoration in 'progress'/ 10E[/size](SN E3779) restoration in progress, a 510 on the back burner and a growing pile of items to be eventually returned to useful life. - aka Red Grange
Finally got that last form! Did a run through and now need to go back and make sure I entered all the number correctly, I've caught myself messing up entering stuff in quicken so I always do a double check. Yes it's possible to do it wrong twice but much less likely.
Sure can see the increase due to the interest rate going up. This year about 8% of my income came from interest, next year it will do even better if they keep raising the rates. When I retired I was figuring on a modest 3% interest rate and that has not happened for most of those years. Just goes to show how much "good" planing does.
Ed
{Knight of the Shopsmith} [Hero's don't wear capes, they wear dog tags]
We just got our taxes back from our CPA. Last year we owed $1319. This year we get a $2765 refund. We did have some more expenses on our rental properties in California but no way did those account for all of the $4000 turn around.
John & Mary Burger
Eagle's Lair Woodshop
Hooper, UT
Dale
1992 Mark V with 510 upgrades All SPT Machine in black II
1950 #24616 10 E Demo All Parts and extras used as drill press. Teresa
1951 #45246 10 ER SS Refurbished Shelly + Brent
Early 1951 #47982 10 ER SS Refurbished
Late 1951 #53316 10 ER SS Refurbished
Also addicted tool collector
MikeG wrote:Taxes filed 3/5, return deposited 3/12. One week turnaround!
Refund this year was about $1000.00 less than last year. Not happy!
Refund amount doesn't tell you anything. Your tax liability is the complete story. How much did you prepay in 2018 vs 2017? What was your income in 2018 vs 2017?
If you really want to compare apples to apples, plug your 2018 income numbers into your old 2017 tax forms. Then compare those final numbers to the numbers you get from plugging the same income numbers into the new 2018 forms.
