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Are your taxes higher this year than last?

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View Poll Results: Are your taxes a lot higher/Getting a lower refund this year?
Yes, my taxes seem higher
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9
29.03%
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9.68%
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Are your taxes higher this year than last?

Old 02-28-08, 06:58 PM
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Are your taxes higher this year than last?

Doing my tax return and it looks like I may actually owe money this year, when I got a nice refund last year. Nothing has changed in my life. I did give less to charity this year, but not that much of a difference.

have you noticed a big change from last year's return to this years?
Old 02-28-08, 07:05 PM
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I made much less money this year so my taxes were much lower.

Yea me!


Old 02-28-08, 07:08 PM
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No. Much less. Granted, I became an owner rather than a renter in 2007.
Old 02-28-08, 07:11 PM
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My school and property taxes went up $3,600 for the year.
Old 02-28-08, 07:34 PM
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Lower tax rate
Old 02-28-08, 07:41 PM
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Originally Posted by ChiTownAbs, Inc
Lower tax rate

Wouldn't it be a higher tax rate?
Old 02-28-08, 07:58 PM
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Originally Posted by j123vt_99
Wouldn't it be a higher tax rate?
Lower (marginal) tax rate if your income was lower.

My taxes were higher, but my income more than compensated, so I'm cool with that. But this year I'll be splitting major deductions, so taxes will go up a lot. (But total household income will compensate--I hope--)
Old 02-28-08, 08:06 PM
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your refund or if you owe has no bearing on whether your taxes went up

you have to look at the tax paid line
Old 02-28-08, 08:07 PM
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i took my 1099s and other forms I got and threw them in turbotax. I'm just a single homeowner. There doesn't seem to be any room for interpretation with the forms. Would it make any sense to check with an accountant?
Old 02-28-08, 08:32 PM
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Originally Posted by kvrdave
I made much less money this year so my taxes were much lower.

Yea me!


Thats a good way to look at it. Time to go through the the books and apply some threats.

I dont really care anymore, my father has dementia/alzheimers and I dont care who knows it. My father belongs in the loonie bin with most of my other relatives from that side. I think I may have to consult with a lawyer as I have not been paid since about 12/15 of last year. And all that money just sits there close to 70.000.00 in a non-intrest bearing account.

I keep telling him I have been working for 0 this year. I dont see any pleasant way arouond this. What do you do with someone like this????

Old 02-28-08, 09:15 PM
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My wife's business made much more money last year. Payroll taxes are a bitch.
Old 02-29-08, 12:09 AM
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Originally Posted by j123vt_99
Doing my tax return and it looks like I may actually owe money this year, when I got a nice refund last year. Nothing has changed in my life. I did give less to charity this year, but not that much of a difference.
But did you itemize in both years?
Old 02-29-08, 07:11 AM
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Of course, my taxes go up every year.
Old 02-29-08, 07:18 AM
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Originally Posted by j123vt_99
i took my 1099s and other forms I got and threw them in turbotax. I'm just a single homeowner. There doesn't seem to be any room for interpretation with the forms. Would it make any sense to check with an accountant?

if you have 1099's it means you probably deduct a long list of things like say your car. i'd guess your deductions is the first place to look.

and compare your 1099's this year to last year to see if they took any taxes out
Old 02-29-08, 07:57 AM
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up...although i don't know the amount, I'll have to check
Old 02-29-08, 08:57 AM
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Originally Posted by al_bundy
your refund or if you owe has no bearing on whether your taxes went up

you have to look at the tax paid line
You mean the "tax owed" line, right?
Old 02-29-08, 08:57 AM
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Originally Posted by drmoze
My taxes were higher, but my income more than compensated, so I'm cool with that. But this year I'll be splitting major deductions, so taxes will go up a lot. (But total household income will compensate--I hope--)
Your income would have to compensate more than inflation, no?
Old 02-29-08, 09:01 AM
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Originally Posted by j123vt_99
Doing my tax return and it looks like I may actually owe money this year, when I got a nice refund last year. Nothing has changed in my life. I did give less to charity this year, but not that much of a difference.

have you noticed a big change from last year's return to this years?
I haven't done mine yet, but this doesn't seem right to me. I mean everything being equal, your taxes should bascially be equal. It's not like the law really changed. I think last year had that phone tax credit, but it wasn't that big.
Old 02-29-08, 02:51 PM
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Originally Posted by kvrdave
I made much less money this year so my taxes were much lower.

Yea me!


Yea, instead of half of a million you're down to just a quarter.

Must be nice...
Old 02-29-08, 03:53 PM
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Originally Posted by SuperJim88
Yea, instead of half of a million you're down to just a quarter.

Must be nice...
Not around here.

Well, I mean, it would be nice to make that kind of money around here, but do you realize how many chickens and beaver pelts that would be?
Old 02-29-08, 05:36 PM
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Originally Posted by matta
You mean the "tax owed" line, right?
Actually it's line 63, the "Add lines 57 through 62. This is your total tax" line.

My effective rate (total tax / AGI) went up 2%.
Old 03-01-08, 11:51 AM
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just checked the numbers. i am paying a higher amount but a lower percentage.
Old 03-01-08, 09:25 PM
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I started a new job last year and it looks like I was setup by payroll as married, so they took less out of my check. I owe the government money this year.
Old 03-01-08, 10:12 PM
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My property tax went up but my income tax is the same as it was last year $0.

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