racer254 Posted March 8, 2019 Share Posted March 8, 2019 (edited) https://www.wthr.com/article/tax-loophole-costs-billions https://www.factcheck.org/2012/05/tax-credits-for-illegal-immigrants/ Edited March 8, 2019 by racer254 Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 8, 2019 Author Share Posted March 8, 2019 That was from 2012, years later and it's still a problem....WHY? https://www.wthr.com/article/indiana-lawmaker-asks-congress-to-eliminate-tax-credits-for-undocumented-workers Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 8, 2019 Share Posted March 8, 2019 Got my tax refund already. 19 days after I filed with Turbo Tax. Yahoo. Quote Link to comment Share on other sites More sharing options...
Edmo Posted March 8, 2019 Share Posted March 8, 2019 1 hour ago, AKIQPilot said: Got my tax refund already. 19 days after I filed with Turbo Tax. Yahoo. Finished mine today. Came out exactly how I had estimated it when the tax law kicked in and they put out that worksheet. Return is down a bit but it was nice getting more in every check. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 8, 2019 Gold Member Share Posted March 8, 2019 My overall effective tax rate went up by .3%. But the pay increase of around $40,000 and the last kid becoming an adult changed my tax brackets a little bit. Quote Link to comment Share on other sites More sharing options...
washedupmxer Posted March 8, 2019 Share Posted March 8, 2019 12 minutes ago, BOHICA said: My overall effective tax rate went up by .3%. But the pay increase of around $40,000 and the last kid becoming an adult changed my tax brackets a little bit. no school for the kid? Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 8, 2019 Gold Member Share Posted March 8, 2019 12 minutes ago, washedupmxer said: no school for the kid? There is an income threshold level where there is no tax benefit to college. Quote Link to comment Share on other sites More sharing options...
washedupmxer Posted March 8, 2019 Share Posted March 8, 2019 5 minutes ago, BOHICA said: There is an income threshold level where there is no tax benefit to college. you really don't have any idea what you're talking about and you lose your child income tax credit between the ages of 16 and 17 not when they become an adult Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 8, 2019 Share Posted March 8, 2019 1 minute ago, washedupmxer said: you really don't have any idea what you're talking about and you lose your child income tax credit between the ages of 16 and 17 not when they become an adult I sent 3 kids to college. Paid for it all myself. There was no tax benefit to me in the slightest. Has something changed? Quote Link to comment Share on other sites More sharing options...
washedupmxer Posted March 8, 2019 Share Posted March 8, 2019 1 minute ago, AKIQPilot said: I sent 3 kids to college. Paid for it all myself. There was no tax benefit to me in the slightest. Has something changed? If you still claim them and youre paying their tuition hell yeah it does Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 8, 2019 Share Posted March 8, 2019 1 minute ago, washedupmxer said: If you still claim them and youre paying their tuition hell yeah it does Not in my tax bracket it didn't. Quote Link to comment Share on other sites More sharing options...
washedupmxer Posted March 8, 2019 Share Posted March 8, 2019 2 minutes ago, AKIQPilot said: Not in my tax bracket it didn't. like I said I get mine done by a guy and I'm not sure exactly what changed but it's the first year I paid tuition and I was returned about 3 Grand more than I thought I would Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 8, 2019 Gold Member Share Posted March 8, 2019 24 minutes ago, washedupmxer said: you really don't have any idea what you're talking about and you lose your child income tax credit between the ages of 16 and 17 not when they become an adult $160k and above any college tax benefit doesn’t apply. If you make below 160k there is a benefit. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 8, 2019 Gold Member Share Posted March 8, 2019 (edited) I haven’t been able to even claim student loan interest for my wife’s student loans. Make to much money and have for years to qualify for any education tax breaks or credits. It’s best I just give the kids college money to pay for school and let them claim all there school expenditures as adults and not be a dependent on my tax filing. or they can get student loans and do as they wish. Two years of college is all I will pay for. You youngest was going into his third year and still hadn’t picked a major. He decide to move out, work and save and decide what he wants to do before he starts blowing his own money on education. https://20somethingfinance.com/education-tax-credits-deductions/ Edited March 8, 2019 by BOHICA Quote Link to comment Share on other sites More sharing options...
Edmo Posted March 8, 2019 Share Posted March 8, 2019 29 minutes ago, BOHICA said: $160k and above any college tax benefit doesn’t apply. If you make below 160k there is a benefit. This. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 8, 2019 Share Posted March 8, 2019 I paid through the nose last year. I hope I pay again this year. A couple of years ago I told my CPA that I love to pay big taxes, because that means I made big money. He said I was the first person that ever said that. I think he really wanted to say, " man, you're a fukken asshole!!! ". Quote Link to comment Share on other sites More sharing options...
awful knawful Posted March 8, 2019 Share Posted March 8, 2019 He's a smart man! Quote Link to comment Share on other sites More sharing options...
Guest Posted March 8, 2019 Share Posted March 8, 2019 12 minutes ago, awful knawful said: He's a smart man! He was about 10 years younger than me. He died a little over a year ago. Good guy to work with. I was worried that no one else in the office would work as well. They set me up with some lady, she went right through my return with no problem. She said they do this stuff all day, every day. CPAs Quote Link to comment Share on other sites More sharing options...
Guest Posted March 8, 2019 Share Posted March 8, 2019 16 minutes ago, awful knawful said: He's a smart man! He also said there's a guy he heard about in Tide Head that works for a big wood-processing company on Mill Road, that EVADES TAXES every year. Said the guy will be arrested before long and prosecuted. Will probably end up in a cell with Justin T. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 9, 2019 Share Posted March 9, 2019 5 hours ago, washedupmxer said: If you still claim them and youre paying their tuition hell yeah it does phases out at 160 Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted March 9, 2019 Share Posted March 9, 2019 5 hours ago, BOHICA said: $160k and above any college tax benefit doesn’t apply. If you make below 160k there is a benefit. Yup. I've been paying grad school tuition for years and no deductions or credits. Quote Link to comment Share on other sites More sharing options...
XC.Morrison Posted March 9, 2019 Share Posted March 9, 2019 I never get a huge refund, usually around 6 to 8 hundred if I itemize just right. That’s total from state and fed. This year I got back about 100 from the fed and 400 from state. Overall, I paid about 1,000 less in taxes year over year and also made a bit more as wife and I both got our usual 2% raises so figure the actual reduction as a little over 1,000. Quote Link to comment Share on other sites More sharing options...
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