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bottomofthehill

(8,261 posts)
16. You should always target Paying Taxes at the end of the year
Mon Feb 11, 2019, 03:53 PM
Feb 2019

Your tax is set off of the money that you make. If you withhold too much you will get money back at the end of the year ( you have given the government an interest free loan). If you owe money at the end of the year, you are getting an interest free loan from the government. I usually pay between 1200 to 1500 at the end of the year in taxes.

I usually do my taxes early... Dennis Donovan Feb 2019 #1
Honestly Dennis..this feels like such a shell game Peacetrain Feb 2019 #2
I entered the job market in the early 80's... Dennis Donovan Feb 2019 #13
Keeping my fingers crossed for you Peacetrain Feb 2019 #25
The amount withheld is usually determined by the employer using a chart given them by the IRS. rgbecker Feb 2019 #3
OHHHH now that makes sense.. I could not figure out how that worked Peacetrain Feb 2019 #4
+1, "Trump's guys at the IRS "' uponit7771 Feb 2019 #7
It was just a withholding cut disguised as a tax cut for most. pwb Feb 2019 #5
This message was self-deleted by its author NCChomskyan Feb 2019 #12
I've always claimed 0 withholding Nictuku Feb 2019 #6
So you've had a net tax increase? Thx in advance uponit7771 Feb 2019 #9
The withholding tables were manipulated to make it look MineralMan Feb 2019 #8
+1, 30 - 40% of American's usually itemized and it'll be the upper half of the middle class that uponit7771 Feb 2019 #10
They knew it was a full on screw job, they just kicked the can past Nov 2018 Cosmocat Feb 2019 #11
Exactly! MineralMan Feb 2019 #14
They ARE pissed. dixiegrrrrl Feb 2019 #17
This!!! ProfessorGAC Feb 2019 #18
Combined family income between $150K and $200K? Two kids? Big house in the 'burbs? theboss Feb 2019 #22
Yes. They're the most vulnerable group. MineralMan Feb 2019 #24
What was changed was withholding Moral Compass Feb 2019 #15
You should always target Paying Taxes at the end of the year bottomofthehill Feb 2019 #16
To What End? ProfessorGAC Feb 2019 #19
An excellent point, indeed. MineralMan Feb 2019 #20
Instead of paying 18-24% on credit card interest bottomofthehill Feb 2019 #30
Yeah, That Makes Plenty of Sense ProfessorGAC Feb 2019 #31
The withholding is done automatically by who pays you theboss Feb 2019 #21
SS and small pension can I safeinOhio Feb 2019 #23
Thank you one and all for the information and input... Peacetrain Feb 2019 #26
Taxes Srkdqltr Feb 2019 #27
It's not just about withholding. The standard deduction did go up by $5500 per person, but what Squinch Feb 2019 #28
My taxes went down significantly with the new tax laws MichMan Feb 2019 #29
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