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12262789 No.12262789 [Reply] [Original]

Burger here, with Trumps new tax laws, the standard deduction will de doubled. I got back about $3k last year as a single non home owner no kids making about $60k. Does this mean I will get back $6k this year? Or will it actually be less?

>> No.12262817

>>12262789
that's a hot 8/10 mutt

>> No.12263084

Also, should I change my witholdings on my W4 so I take home more pay, instead of getting a refund at the end of the year? The refund is essentially just lending uncle sam your money and getting it back later.

>> No.12263185

>>12263084
You should do this anyway

>> No.12263237

>>12262789

Are you joint filing? single?

I have yet to run into a situation where get a return of 3k on a income of ~60k, without itemizing and a good deal of exemptions. You clearly had huge gross income deductions that you can’t take advantage of anymore with the new 1040. This smells of bad larp regardless.

>> No.12263396

>>12263237
Single filing, not a LARP.. live in NYC, taxes as follows:
>Tax Deductions Year to Date
>Amount
> FICA TAX-EMPLOYEE SHARE >4,353.53
> MEDICARE-EMPLOYEE SHARE >1,018.16
> FEDERAL WITHHOLDING TAX >10,183.42
> STATE WITHHOLDING TAX
>3,669.65
> NEW YORK CITY TAX WAIVER >2,422.77

>> No.12263404

>>12263396
That's my current yearly, currently high 60ks, just below 70k salary

>> No.12263625

>>12262789
You lost dependency exemption of 4k so that doubling of your standard deduction is blunted somewhat