2018 Taxes, getting your refund? - Jeep Patriot Forums
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post #1 of 47 (permalink) Old 03-04-2019, 11:58 AM Thread Starter
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2018 Taxes, getting your refund?

How did the whole new US tax changes affect your refunds? Did you end up paying less taxes in 2018?
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post #2 of 47 (permalink) Old 03-04-2019, 01:43 PM
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I filed the first week of February and they were submitted the same week - got money deposited even quicker than normal, less than 2 weeks! With the new tax law changes, more so the extra $1,000 per child credit ($2,000 per child), my refund this year was a shocker to us, about 40% increase from last year (and most every year prior)! If these changes stay the same I'll be sitting pretty for the next 7 years till the child credit expires as my kids will be getting out of high school at that time

I remember the democrats and media stating it will only benefit corporations and do a lot of bad things with no gain to average folk like me ... well again they were wrong about the Tax Cuts and Jobs Act of 2017 in my opinion!
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post #3 of 47 (permalink) Old 03-04-2019, 02:54 PM Thread Starter
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My family is one of the families that have benefited the most from the tax changes. We didn't have enough deductions to itemize before so we would have taken the standard deduction even before they doubled it. So we got a lot out of that happening. We also have kids so that has helped too.

For the last few years we have been paying money at tax time. This time around we actually got a 4k refund, its kind of nice to have for once but I need to make my witholdings less for next year. I even changed my witholdings in 2018 to withold less but I should have doubled my efforts to withold less last year.

It feels nice that a middle class family like me not having pay for the handouts as much.
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post #4 of 47 (permalink) Old 03-05-2019, 12:41 AM
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I'm getting a little more this year, though admittedly I still have a little extra withheld from my paycheck each week. Hasn't come through yet, but I just checked the federal website and it's apparently scheduled to be deposited by tomorrow, so we'll see how that works out. Funny, so many Democrats on twitter keep complaining how they're not getting as much back....maybe they're just not earning as much and have been banking on freebies that are no longer there? I've been blessed enough to earn more than ever this past year. Hoping the trend keeps up, but we'll see.
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post #5 of 47 (permalink) Old 03-05-2019, 01:41 PM
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I withhold at the single rate even though I am married and claim 0 exemptions. I usually get bonuses throughout the year that if I claimed exemptions and withheld at the normal "married" rate, would end up making me owe taxes at filing time. I don't like paying more when I file so I made those changes years ago. I also usually itemize my deductions because it is advantageous for me to do so. This year it was not. I used the new standard deduction and as I thought it would be, my refund was smaller. However, I also paid about $600 less out of my paycheck through the year. So for me, it balanced out in the end. My refund was smaller, but I paid less through the year.
I saw a lot of belly aching in the news about refunds being smaller, but none of those articles mentioned that those people probably pad less through out the year as well. Pay less up front, get less returned.... seems simple to me.
I would still prefer a much simpler system that incentivises saving. Ex.... a straight 20% sales tax and no income tax would result in larger contributions to our federal government, but would encourage better money management in our population. No tax filing, no refunds, no fraud/auditing, just a simple system that accomplishes the task of funding our government but does so unobtrusively and without the massive amount of work that our current system needs to support itself. retailers could roll that tax right into the prices of goods and services and after the initial "sticker shock" the first year or two, people wouldn't even think about it. IT also scales itself automatically to income level. Those who have more spend more and would then of course pay more in taxes. Those who earn less, buy less, and would therefore pay less in taxes. No sliding scales, credits, percentiles, etc....
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post #6 of 47 (permalink) Old 03-05-2019, 01:52 PM
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Quote:
Originally Posted by croat View Post
I filed the first week of February and they were submitted the same week - got money deposited even quicker than normal, less than 2 weeks! With the new tax law changes, more so the extra $1,000 per child credit ($2,000 per child), my refund this year was a shocker to us, about 40% increase from last year (and most every year prior)! If these changes stay the same I'll be sitting pretty for the next 7 years till the child credit expires as my kids will be getting out of high school at that time

I remember the democrats and media stating it will only benefit corporations and do a lot of bad things with no gain to average folk like me ... well again they were wrong about the Tax Cuts and Jobs Act of 2017 in my opinion!
Same here - With my two kiddos our return will be very nice indeed.

In fact, since the timing is right, I'm looking at an upgrade from my '11 Patriot and will likely be trading it in on Friday.


Dealer is giving me 5k for it. Bluebook shows only 4k.
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post #7 of 47 (permalink) Old 03-05-2019, 02:23 PM
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Nice and that added $2,000 you were not expecting will make things easier!
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post #8 of 47 (permalink) Old 03-05-2019, 02:38 PM Thread Starter
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Same here - With my two kiddos our return will be very nice indeed.

In fact, since the timing is right, I'm looking at an upgrade from my '11 Patriot and will likely be trading it in on Friday.


Dealer is giving me 5k for it. Bluebook shows only 4k.
What are you upgrading to? Another patriot?
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post #9 of 47 (permalink) Old 03-05-2019, 02:42 PM Thread Starter
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Originally Posted by DangerAaron View Post
Those who have more spend more and would then of course pay more in taxes. Those who earn less, buy less, and would therefore pay less in taxes. No sliding scales, credits, percentiles, etc....
The problem with a sales only tax is what if people decide to just buy things from over the boarder in Canada or Mexico or just ship things in from China? There are ways around the sales tax.
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post #10 of 47 (permalink) Old 03-05-2019, 02:54 PM
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Just do what Canada dose for example - they tax all packages on import delivery.
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post #11 of 47 (permalink) Old 03-05-2019, 03:08 PM
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What are you upgrading to? Another patriot?
Naa sadly no. Patriots are nice and all, but I miss something with a little more room (Being 6' 4"), A while back we owned a very reliable Rav4 and liked it very much, but that's still too small, so I'm getting a new 4Runner TRD Pro in that neato blue they've got.
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post #12 of 47 (permalink) Old 03-05-2019, 04:51 PM Thread Starter
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Naa sadly no. Patriots are nice and all, but I miss something with a little more room (Being 6' 4"), A while back we owned a very reliable Rav4 and liked it very much, but that's still too small, so I'm getting a new 4Runner TRD Pro in that neato blue they've got.
Wow those are pretty pricey. I think I'd still rather have the wrangler.
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post #13 of 47 (permalink) Old 03-05-2019, 05:22 PM
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Quote:
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What are you upgrading to? Another patriot? <img src="https://www.jeeppatriot.com/forum/images/smilies/smile.gif" border="0" alt="" title="Smile" class="inlineimg" />
Naa sadly no. Patriots are nice and all, but I miss something with a little more room (Being 6' 4"), A while back we owned a very reliable Rav4 and liked it very much, but that's still too small, so I'm getting a new 4Runner TRD Pro in that neato blue they've got.
The 4Runners are very nice, my boss has a 2018 and I'm trying to talk my wife into one when her Durango is done for.

Never understood the Toyota deal until I bought an 04 Tundra 193k on the clock now and its been far less troublesome than an of the Mopars I've owned.

Back on topic, I believe most of the opposition to this is the fact most of the benefits for individuals expire in 2025 but are permanent for corporations.
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post #14 of 47 (permalink) Old 03-05-2019, 05:39 PM Thread Starter
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Back on topic, I believe most of the opposition to this is the fact most of the benefits for individuals expire in 2025 but are permanent for corporations.
Its funny that its 2025 the year after a presidential election. So if trump wins 2020 and stays elected towards 2024 then the next president will have to decide what to do about it. I have a feeling my taxes will be increased 2025.
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post #15 of 47 (permalink) Old 03-05-2019, 06:56 PM
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Wow those are pretty pricey. I think I'd still rather have the wrangler.
Yeah I was thinking the wrangler route at first but like Fester said, the Toyota reliability is very good by comparison to most, and the 4Runner has much more storage capability from what I've seen.

Yeah a bit pricey! 49k sticker price. Luckily the dealer gave me top dollar for the Patriot (bumped to 5k) and gave some further reductions. Bottom line is now 42k even. Gonna turn over the Patriot and sign tomorrow.

Now I gotta remove all the mods I wanna keep tomorrow morning hah. Dashcam, speakers, boat horn, etc.
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