Anyone have their taxes done yet?

[Maof]

As predicted, last year was a "one hit wonder". Thanks to dingus, it's not pretty for the middle class this year. Talking with our tax guy, he has a lot unhappy customers and you can add me to the list.

[Ray1936]

Done and the refund posted to my bank account two weeks ago. All my income is my retirement fund, SS income, and nickle and dime bank account interest. Got an extra hundred bucks refund with pretty much the same income as last year. But retirement is good. No complaints.

[coracle]

We’ve [[my wife and I) “done” our taxes but haven’t sent the forms off yet because we owe a tad. We always err on the underpayment side during the year by modifying the quarterly payments with a “settlement” in the last payment on Jan 15, after the year closes, when any investment profit/loss is known.

I did notice on 1040 that the Standard Deduction for Married Filing Jointly has been increased from $12k to $24k, but we no longer spend enough to Itemize Deductions; the Individual Exemptions of $4.1k each or $8.2k in our case, has disappeared, and the tax brackets have changed, all together resulting in a “wash” providing a minimal advantage.

Due to a good return on IRA’s in 2017 we experienced an increase in RMD income in 2018, but only pay the same taxes as the previous year. So a welcome small percentage overall gain in income.

[[But the rampant Stock Market gains since Mr. Trump anihilated hillary that seems to have gone over the heads of democrats/media - is the real moneymaker if you’re in it!)

[Ray1936]

I should mention that living in Las Vegas v. Detroit has real tax advantages. No state or local income taxes; thus, no multiple forms to agonize over and complete. Further, Turbotax reminds me of that factor when the last entry has been made on my federal form. "Nevada has no state income tax. You are done."