Reply to Taxes - big jump this year?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Just sent off an unexpected 18K check to the IRS.

Our landscaping will be not happen this year :([/quote]

So high taxes can hurt jobs?   Someone needs to bring this up to the powers that be. [/quote]

No, because the landscaper will simply find a client who is better prepared and ha s refund to blow.

All this and the other posts means is that there are some unprepared people out there. You should be preparing and saving from January for the highest/worst case scenario for taxes. You have a good idea of your income, your tax bracket, and the changes in the tax code at the beginning of every year.

None of this should ever be that big a surprise for people at these income levels and for anyone with a modicum of common sense. [/quote]

They keep changing stuff and it really makes it difficult for every day folks. Most of us have lives and a million other things to think about like how to feed your family or pay for childcare.[/quote]

They don't change things mid year. We know at the beginning of every year, and these particular hikes were well-known. Anyone who didn't know had his buried deep in the sand. And the "We have lives" argument is bunk: we all have bills and responsibilities, taxes are no different. 
You have no excuse.[/quote]

It's impossible to predict on January 1 how investments will perform during the year.  Directly impacts tax liability.  [/quote]

True. But you know on dec 31 how they performed and have until April to plan and save. Also, aside from massive volatility, you can make basic predictions from the previous year's return. In addition, your investment manager and or tax professional can help you prepare. Ours did.

Everybody should be doing these things, along with not waiting until April, to be better prepared. https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/Top-8-Year-End-Tax-Tips/INF12120.html[/quote]

Thanks for the tip. Unlike you many of us can't pull 20k out of our ass in 3 months [/quote]

If you're in the income bracket that saw a 20K increase then your ass should be packed with a ton of cash.[/quote]

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