I figured I would get less of a refund than last year since I made 20 k more and put more in Roth 401 instead of tax deferred account. Boy was I wrong. between state and federal my refund is double what I got last year.

Some was the taking advantage of the 20% state tax credit for putting money into the 529. And I guess they took a lot more out of my check and took out at the higher tax bracket all year since I was not putting in the tax deferred acount.

I will be able to fully fund both mine and my wife's Roth for this year with my refund. While I would rather get it figured out how to get zero refund and only pay in what I have ro all year instead of paying extra. It sure is nice to get a nice amount of what they took back .

Trump fixed that first thing…he just didn’t talk about it yet.

Got my state back all ready and will get my federal back the end of the month.Getting a little more back this year compared to last year.

I start on mine tomorrow, it's gonna be a bloodbath.

HIP HIP HOORAY or whatever.

So
You lost money in investment because you let the government use your money instead of YOU USING IT. At your 40% return you get on all your investments you really wasn’t very smart !!! Lower deduction so you can invest that yourself. Heck any money manager with a c average knows that

I have been talking with my wife about figuring out a better record keeping system than putting recipes in a basket and going through them at tax time.

I'm thinking a program we can scan recipes into in the parking lot at the store and put the amounts into the categories thay need to go into at the time of purchase of supplies.

Then keeping records of sales and contact info of customers would be easier as well. She is just geutn a website live tonight and geting more modern will help with marketing. Also need to get set up to take electronic payments.

I'm very inefficient and un organized that needs to change.

My wife twin sister does our income tax return every year.I just send her the information and for $100 she does it all and I don't even have to look at it.

Has your wife started a business?

No I didn't get but 24% return at the end of the year after the small correction. I'm allready claim more dependent than I have for payroll so they take less. I know your a rock star and would have seen making 20 k more in a year and putting 10 k less in a tax deferred acount would net you a 100% higher return on taxes than the year before. Rock star in your own mind.

Maybe now that your running a small business you can learn how your income and deductions change year to year making it difficult to know how things will fall.

she runs the farm and all the side things also get ran as farm because they are farm related.

I was tempted to send you and yote a pm with Pic to show the return amount. Not sure it would be so dramatic for you but she would likely loose her mind considering she didn't like I get a return at all.

LOL, yep I imagine mine will be also. I pay in a couple of quarters each year and still owe.

But would he get on-line and start a post about it? That is the Million Dollar question.

Just post a pic of your Tax return here ..along with SS number

You gotta come out of your shell J.

If you earned 20 K more in a year then you probably had paychecks whatever your time plan is that were much higher for the time period and much more federal was taken out. What you could have done if you noticed how many of those you were probably going to get you could have changed the number of exemptions for 2024 and changed them back again when and if salaries would be lowered. Many workers who work a lot of overtime typically get big refunds as they have pay periods that are much higher than their average over time.
If your state tax rates are not real high then 20% lowering would not have been the bigger part of a doubling of your refund.

Bryce

what is it about you that you have to talk down to people? Instead of giving some constructive advice, you prefer to criticize. You're on my last nerve buddy.