All Hokie, All the Time. Period.

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WestyHokie

Joined: 7/10/02 Posts: 17913
Likes: 3753


Finally, a reasonable post on this; all the headlines are annoying


Back in Feb 2018, my tax person warned that, since we were getting a piece of the tax break in every paycheck, if I didn't change my withholding I could end up paying significantly - like $7k (that is significant for me, after getting back less than $1,000 each year for years). So I did a little research, and chose to make some changes.

I adjusted my traditional 401(k) rate and opened a (new for my company) Roth 401(k), to take some of the tax burden. My appt isn't until end of Feb., but my estimate is that I should about break even. And I know nothing about taxes, and can barely do math. I was just doing this seat-of-the-pants.

Now every day there is a headline about people getting smaller refunds, and how it "isn't fair." Jeez. If even I understand it, others should be able to.

[Post edited by WestyHokie at 02/12/2019 12:28PM]

(In response to this post by VaAkita)

Posted: 02/12/2019 at 12:26PM



+3

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Current Thread:
 
  
CPA: What % of your clients are actually paying more? -- VaAkita 02/12/2019 12:10PM
  Yes 80 percent paid less in taxes -- capitals1 02/12/2019 1:12PM
  You don't sound snarky. -- MP4VT2004 02/13/2019 12:50AM
  I understand your premise -- RTFC 02/13/2019 10:19AM
  That's not how I understood it -- RTFC 02/12/2019 4:26PM
  Sorry, I didn't explain it very well. -- MP4VT2004 02/13/2019 12:57AM
  Media spinning it ** -- DaveVT 02/12/2019 12:36PM

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