I did my income taxes this morning. I never like doing taxes early, because like even an earthworm, I am pain adverse.
Belle and I are fully retired, without any side gigs. Our income didn't increase dramatically this year, although some of our retirement accounts gave us a small cost-of-living increase. We are where we were this time last year. Last year, we got a small rfund. This year, I'll have to write the IRS a check.
Something changed, and I'm not sure what, but a further analysis will clear that up.
What I do know is that I didn't owe the IRS money last year, and I do owe them money this year.
Thanks, Joe Biden.
4 comments:
Not Biden. Changes made by Trump, that are just now kicking in.
Facts matter.
Trump gave the rich tax cuts that were permeant and the middle class tax cuts that were temporary and now expiring.
I prefer to owe a small amount than give the IRS a free loan.
I haven't paid mine yet; I'm waiting for my accountant to get back to me.
P.S. Federal agencies have latitude (or take it, same difference from our position) in implementing rules and laws. Even if passed under Trump, it's been done by Biden s appointees.
Jonathan
When our two kids were counted as dependents, we got a small windfall back. Since they both grew up, last year we owed about three grand (iirc). This year - five grand. Not sure what it was that went up, but there you go.
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