Tax refunds are down 8.4 percent so far this year—here's how experts say you should prepare

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Tax refunds are down 8.4 percent so far this year—here's how experts say you should prepare via CNBCMakeIt

 

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MakeIt If you have to have a refund, put 10% of your pay in a savings account, and withdraw it in April each year. Voila! 🤦‍♂️

MakeIt Well...for most people, tax refunds are lower because they TOOK less from your paycheck when brackets were reduced. Right?

MakeIt Only in CNBC land it is bad when you pay less in total taxes but get a smaller refund...

MakeIt Tax refunds are free loans to the Gov. Nothing good there at all.

MakeIt Maybe I’m stupid, but doesn’t reduced withholding result, usually, in a smaller refund?

MakeIt If you're single then you most likely got that money throughout the year in payroll adjustments. If you, like me, have a family then your checks got larger AND your return got larger.

MakeIt Prepare by not believing the trickle-down tax scams Republicans have been trying to make us believe would work for the middle-class for the last 35 years.

MakeIt prepare? BEND-OVER

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Wealthy Taxpayers Screaming About Lost Deductions Under Trump Tax 'Cuts'If you deducted more than $10,000 in real estate and state income taxes on last year’s tax return, you might be in for a big surprise this year. I don't think that comes as a surprise. That's why they are leaving NY and CA. Did you just find out? We've all know about it since last year. It hit more than the wealthy. Anyone upper middle in a blue stars that blues education. That’s the combination to have high SALT tax. And TaxReform was a scam that hit us. I thought Liberals all say the rich need to pay their fair?
Source: Forbes - 🏆 394. / 53 Read more »

Under new Trump tax code, average refund is 8.4 percent smallerNew data from the IRS shows the average refund this year for early filers under the new Trump tax code is 8.4% smaller. Great 👍🏽 That is great! Means your keeping more of your money
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Trump Tax Law Spurs Job Creation...for Tax Lawyers and AccountantsThe tax industry is benefiting from the Trump administration’s Tax Cuts and Jobs Act as companies analyze the law, restructure operations and rely on experts, according to lawyers and executives at tax firms. Desperate to publish negative stories about tax cuts? Remember liberals, if you want to resist trump, then come April 15th, please feel free to return or donate the increased tax savings you’ll get from the bill he signed into law. That will teach him! Our tax filling got a whole lot simpler. For first time didn't have to itemize.
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Tax code changes leave Americans asking, ‘What happened to my refund?’With tax filing season officially under way, a growing number of taxpayers are realizing that the Tax Cuts and Jobs Act might be a double-edged sword. But we paid less throughout the year. I paid like 5k less in taxes. FakeNews Blame Trump. If something is wrong it's his fault.
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What You Need To Know About Refund Anticipation Loans This Tax SeasonThe beginning of tax season can be a busy and anxious time for taxpayers - especially those who are waiting for their tax refunds. While they wait, some taxpayers turn to refund anticipation loans (RALs). Here’s what you need to know. Great article. Despite the reforms taken over the past several years, the entire concept of RALs (tied to the earlier concept of 'same day refunds') is, in my view, an embarrassment to the tax profession and a financial plague on low income taxpayers.
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What You Need To Know About Refund Anticipation Loans This Tax SeasonThe beginning of tax season can be a busy and anxious time for taxpayers - especially those who are waiting for their tax refunds. While they wait, some taxpayers turn to refund anticipation loans (RALs). Here’s what you need to know.
Source: Forbes - 🏆 394. / 53 Read more »