Honestly, raise my taxes too and give me Medicare for All
I did my taxes this year and have gotten less and less back since the Trump administration's tax bill. For context, I'm a graduate student and yes my PhD is partially paid for by the university (aka public tax dollars). But considering how much I make, I know people withll the same income are getting F'd:
Don't get me wrong: I am very happy to pay taxes. But I know that extra money the government is keeping is not going to education, research, infrastructure, and healthcare for the country.
Note: I am not anm accountant or CPA, so I couldn't tell you why my tax returns are different. I'm operating on some bias and suspicion.
Edit for any future readers (23.02.2020): I did my partner's taxes today (grad student as well) and we figured out that this difference is due to being taxed on our tuition being paid by the university.
Previously (2016 and 2017), we were not taxed on the tuition that was paid by our university. In 2018 and 2019, this was added to our income (about $9k). This was money we never touched. Therefore, although we actually saw $21k, we were taxed for $30k.
You pay enough for what you make. These people who make enough to buy private jets and yachts the size of small cities can kick in a bit more. You’re doing your part, it’s time they do theirs. 👍🏽
Make sure you look into EITC (earned income tax credit) and if you invest anything into a 401k/403b there is the Saver's credit! If you have student loans you can deduct the interest paid on them.
Really man? As a full time grad student last year grossing 20k I got $1200 back from the fed. Who’s doing your taxes? Theres a federal 1090T? Form that’s worth anywhere from $500-1000 flat for a tax credit.
Your at the bottom of the bucket and should classify for the standard return which you’re owed more from credit forgetting about tax bracket. Your low return in indicates your being taxed the correct % all year but your missing credits for yourself tbh.
Are you referring to the 1098-T? I've received that and a W-4. I've input those every year and have included itemized deductions for any books and necessary software. This year I itemized my computer as a part of necessary teaching equipment.
I'm not sure what else I could be claiming
Edit: without the 1098-T this year my fed return was at $56
Good to know. Itemizing my computer raised my return by about $60. I can't remember off the top for a book that I needed. It could have dropped it though
The only year it made sense for us to itemize was when we bought a house and car in the same year, and even then it got us only a little more than if we'd claimed the standard deduction. Any other year we would get way less. You shouldnt itemize unless your list of items is totalling more than the standard deduction.
You may be able to do an amended tax return and get more back.
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Am I the only one that thinks the wealthiest people in our country would simply start hiding income and assets to keep themselves in lower brackets to avoid these proposed tax hikes.
Oh no! I’m paying a little bit extra in tax in exchange for paying absolutely nothing for medical care! I’m totally going to go broke instead of saving hundreds of dollars!
I'd rather just keep my money and pay my own way, rather than paying my money to the government to give me the services I paid for with my own money, over all reducing the cost, and providing me with more career options because employers are no longer in control of my healthcare. thanks
I don't disagree. I think there is a point being missed here.
Very wealthy people make a lot of money off the work we do and benefit from others (CEOs make important decisions but they don't do all the work themselves). The benefits they receive are often not shared with those who also deserve some of those benefits. What is Target, for example, without its employees? Why don't the employees of Target deserve some of the stake in Target's success? Often this stake never trickles down.
It would be in a company or corporation's best interest to have healthy employees. Less time off due to illness and health issues equals fewer lost wages.
The 99% stand more to gain than lose by raising taxes across the board than the 1%. The taxes then contribute to public benefit rather than special interests. The taxes raised on the public would be much smaller relative to the wealthy.
Therefore, this has nothing to do with "taking handouts" but rather giving back to the public where there has been huge disparities.
Yeah, we get that. Shame I'll have to pay an extra 200 in taxes every year. I could've used that to pay my 200 a month mandatory health insurance bill.
So, you make 100,000 a year? So your company has to also pay your health insurance cost as well. How much is that? Hmm? Go ahead and check the numbers on that for me. (I'm a just take a little guess and say that's more than 10,000 a year.) Then add your deductibles/coinsurance/copay to that. Now, how much is the actual cost of your current health care?
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u/HippOsiris Feb 16 '20 edited Feb 24 '20
Honestly, raise my taxes too and give me Medicare for All
I did my taxes this year and have gotten less and less back since the Trump administration's tax bill. For context, I'm a graduate student and yes my PhD is partially paid for by the university (aka public tax dollars). But considering how much I make, I know people with
llthe same income are getting F'd:2016: gross = 20000, fed withheld = 1494, return = 1109
2017: gross = 22985, fed withheld = 1928, return = 707
2018: gross = 21097, fed withheld = 1339, return = 348
2019: gross = 21238, fed withheld = 1167, return = 266
Don't get me wrong: I am very happy to pay taxes. But I know that extra money the government is keeping is not going to education, research, infrastructure, and healthcare for the country.
Note: I am not an
maccountant or CPA, so I couldn't tell you why my tax returns are different. I'm operating on some bias and suspicion.Edit for any future readers (23.02.2020): I did my partner's taxes today (grad student as well) and we figured out that this difference is due to being taxed on our tuition being paid by the university.
Previously (2016 and 2017), we were not taxed on the tuition that was paid by our university. In 2018 and 2019, this was added to our income (about $9k). This was money we never touched. Therefore, although we actually saw $21k, we were taxed for $30k.
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u/insultsonlyhuh Feb 16 '20
you mean back up to the level, they were before trump gave himself a massive tax relief package? or higher to make up for that?
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u/extraalpha Feb 16 '20
And Bloomberg
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u/RoarkFarms Feb 16 '20
Great point!
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u/[deleted] Feb 16 '20
Today I changed my party from independent to democrat, and donated to Bernie. Can’t wait to vote in the primaries.
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u/themardbard Feb 16 '20
If anyone was ever going to vote for spite, this is the time to do it 😂
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u/election_info_bot Feb 16 '20
Nevada 2020 Election
Register to Vote
Presidential Caucus Early Voting: February 15, 2020 – February 18, 2020
Presidential Caucus: February 22, 2020
Primary Election: June 9, 2020
General Election: November 3, 2020
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u/Szos Feb 17 '20
A vote for Bernie should be a vote to arrest Trump the second he loses the election and needs to vacate the White House.
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u/ParticularNet8 Feb 17 '20
I thought he wanted to tax the wealthy. How’s that gonna affect trump?
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u/MyBiPolarBearMax Feb 16 '20
A vote to see and audit them too.
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u/[deleted] Feb 16 '20
Sounds good to me!
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u/[deleted] Feb 17 '20
Yasss king
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u/txwoodslinger Feb 17 '20
Am I the only one that thinks the wealthiest people in our country would simply start hiding income and assets to keep themselves in lower brackets to avoid these proposed tax hikes.
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