Taxes

Haven't done ours yet. We're both business owners so we don't do the whole withholding/refund thing, just write a huge check at the end of the year. I suspect the changes in the state tax credit and mortgage interest deductions will affect us a bit because of some investments we made in 2018. Seems this is varying a lot from state to state because of the state income tax issue.

i got 1700 back, usually get 4000

Did you get more back on your paychecks? 

I haven't been to my tax lady yet, but it usually ends up that we owe another 5000.00-7000.00 because we don't let the govt. keep more than we owe during the year.

It's kind of funny the way people look at taxes as only what their refund is or how much they "owe".  Like I said, my wife and I write a check for 5-7 thousand .....but we pay about $45,000 per year in taxes.  THAT'S the number that counts....not the refund or the end of year check we write. (of course,  Stacers,  that's not the same for business owners such as yourself....what you pay at the end of the year IS your tax bill)

it is a bit difficult for me to tell.  my income changed, my retirement contribution went way up, and i payed off one of my student loans.  all that noise makes it hard for me to decide what the change was.  i do know that i lost some deductions that i used to have

40 x 52?

2080

As for your other reply......it's taxes dude.....the more you make the more you pay.  It's a good problem. 

And........here's a presidential candidate that doesn't get it either. LMAO

https://www.foxnews.com/politics/harris-fact-checked-over-nonsensical-claim-trump-hiked-taxes-on-middle-class

DOH, read it as 40 a paycheck

well i have like 27 years left on my mortgage so.... if you have a few extra hundred thousand lying around, please ill give you the bank account number to transfer to :P

We've taken the equity out of our house twice in the 25 years we have lived in it.  Both times we invested the money......and those investments are now worth more than the house.  Of course we still have a house payment, but a house is a unique item on your credit.  You can walk away at any time and the mortgage co can't come after any money or other assets you have....only the house.  We don't worry about it much because we can either sell it for what we owe on it, or walk away from it after we pay cash for the house we will retire in.  Either way, our retirement won't have any loans involved so credit score is no matter.....we'll pay cash.

I have no debt either, besides a house that I will not retire in.  At this point, I don't care at all what ends up happening.....I'll either sell it or walk away from it if the value falls.....my family is raised.  For sure, I would not have been able to afford the retirement I have set up without the use of the equity as we went along.  If the bank ends up with the house, so be it.