Current Events > Fed and State tax return accepted, booyakasha. A cool $700 bones

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Thighon
02/13/21 11:48:48 AM
#1:


It's much less than last return, I guess because of the "stimulus"? And the "tax cut" I guess?
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yunalenne10
02/13/21 12:15:44 PM
#2:


Thighon posted...
It's much less than last return, I guess because of the "stimulus"? And the "tax cut" I guess?
Tax bracket is more likely.

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Akagami_Shanks
02/13/21 12:17:09 PM
#3:


tax bracket yeah.

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CommonJoe
02/13/21 12:18:09 PM
#4:


I made 3k last year and im getting 860 back. Not too shabby

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Thighon
02/13/21 12:18:34 PM
#5:


yunalenne10 posted...
Tax bracket is more likely.
I'm in the same bracket though
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yunalenne10
02/13/21 12:19:34 PM
#6:


Thighon posted...
I'm in the same bracket though
Well, that's odd. I jumped up an entire bracket, so my returns literally got halved from last year's.

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krazychao5
02/13/21 12:20:04 PM
#7:


yunalenne10 posted...
Well, that's odd. I jumped up an entire bracket, so my returns literally got halved from last year's.
not how US tax brackets work

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SquirtleSkwad
02/13/21 12:21:22 PM
#8:


I'm getting $1500 back based on my unemployment draw lmao

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yunalenne10
02/13/21 12:21:30 PM
#9:


krazychao5 posted...
not how US tax brackets work
I let H&R Block do my taxes. I just pay the fees.

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Balrog0
02/13/21 12:27:14 PM
#10:


I made more this year but paid less taxes because I invested more in my retirement

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yunalenne10
02/13/21 12:28:56 PM
#11:


Balrog0 posted...
I made more this year but paid less taxes because I invested more in my retirement
Yeah, they advised me to do the same to lower my bracket.

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vigorm0rtis
02/13/21 12:30:05 PM
#12:


Thighon posted...
I'm in the same bracket though

Did you fill out a new withholding form with your employer when the tax code changed?

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TheBlueMonk_
02/13/21 12:30:30 PM
#13:


i owe 2000 dollars cuz unemployment insurance doesnt even take out remotely what you owe when you elect to take out federal taxes.

its bullshit

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krazychao5
02/13/21 12:33:15 PM
#14:


TheBlueMonk_ posted...
i owe 2000 dollars cuz unemployment insurance doesnt even take out remotely what you owe when you elect to take out federal taxes.

its bullshit
you can choose how much you have withheld. and also, there are other factors they would not know about in regards to your income

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ElatedVenusaur
02/13/21 12:33:22 PM
#15:


Ugh, U.S. income tax is progressive, meaning that your income up to $10000 is taxed at that brackets rate, the next chunk is taxed at that rate, etc. etc.
Our tax code is not quite so fundamentally stupid as to penalize you like that.
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Balrog0
02/13/21 12:34:47 PM
#16:


krazychao5 posted...
you can choose how much you have withheld. and also, there are other factors they would not know about in regards to your income

I think it's a flat rate of 10% for ui

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TheBlueMonk_
02/13/21 12:35:00 PM
#17:


krazychao5 posted...
you can choose how much you have withheld. and also, there are other factors they would not know about in regards to your income
it only takes out 10%. i dont see any way to change it.

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Balrog0
02/13/21 12:35:28 PM
#18:


ElatedVenusaur posted...
Ugh, U.S. income tax is progressive, meaning that your income up to $10000 is taxed at that brackets rate, the next chunk is taxed at that rate, etc. etc.
Our tax code is not quite so fundamentally stupid as to penalize you like that.

The only exception to this rule is Arkansas. We have three different tax tables in addition to each table having multiple brackets

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Thighon
02/13/21 12:41:34 PM
#19:


vigorm0rtis posted...
Did you fill out a new withholding form with your employer when the tax code changed?
I didn't, no. should i have
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Solid Snake07
02/13/21 12:45:16 PM
#20:


Congrats on paying too much in taxes?

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Cleo_II
02/13/21 12:46:51 PM
#21:


Lol. People getting excited at getting their own money back.
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Thighon
02/13/21 12:47:29 PM
#22:


Solid Snake07 posted...
Congrats on paying too much in taxes?

Cleo_II posted...
Lol. People getting excited at getting their own money back.

idk why you guys have to condescend. I understand what it means, yes.
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Jagr_68
02/13/21 12:54:32 PM
#23:


Only got $260 this year lololololololol

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FlameTurtle
02/13/21 12:55:24 PM
#24:


So, lets talk about my cut

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Thighon
02/13/21 12:58:37 PM
#25:


FlameTurtle posted...
So, lets talk about my cut
https://i.imgur.com/wg6kSLh.jpg
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