...and was very happily surprised to see we had overpaid by quite the wee bit more than I would have imagined. So, we are going to get an exceptionally nice refund from the federal government and a nice one from the state too. Into the bank at least the federal refund will go. The state refund probably will be used for something on the fun side of life.
The thing that got us a very nice sized federal refund is that my wife cut back a lot on her hours at one of her two part time jobs. That was done so she could babysit our grandson when our daughter works. Well, she did that but I did not change the withholding from my federal pension, which I had already raised a year or two before to assure we would not wind up owing anything at the end of the tax year when she as working the longer hours. It made for an awfully nice refund this year of money that was never missed.
Hopefully the Trump tax plan will not hut us even though we live in uber taxed NY State The U.S. Office of Personnel Management already lowered my withholding from my pension this year but I went in and adjusted it to even a bit more than what it had been last year. I did that because I expect my wife to be working more this year, know my pension will be a bit higher than last year (Trump gave us a small cost of living raise) and am none too certain how the Trump tax plan will effect us. Anyway, I am not of the belief that me paying just the right amount or owing a bit at the end of the year is good for us, at least not better than letting the feds hold my money and then having them return to us what I would otherwise have wasted. At least when getting a refund, we get it all at once and can either spend/bank some or all of it all at once or just stash it all away at once.
All the best,
Glenn B
The thing that got us a very nice sized federal refund is that my wife cut back a lot on her hours at one of her two part time jobs. That was done so she could babysit our grandson when our daughter works. Well, she did that but I did not change the withholding from my federal pension, which I had already raised a year or two before to assure we would not wind up owing anything at the end of the tax year when she as working the longer hours. It made for an awfully nice refund this year of money that was never missed.
Hopefully the Trump tax plan will not hut us even though we live in uber taxed NY State The U.S. Office of Personnel Management already lowered my withholding from my pension this year but I went in and adjusted it to even a bit more than what it had been last year. I did that because I expect my wife to be working more this year, know my pension will be a bit higher than last year (Trump gave us a small cost of living raise) and am none too certain how the Trump tax plan will effect us. Anyway, I am not of the belief that me paying just the right amount or owing a bit at the end of the year is good for us, at least not better than letting the feds hold my money and then having them return to us what I would otherwise have wasted. At least when getting a refund, we get it all at once and can either spend/bank some or all of it all at once or just stash it all away at once.
All the best,
Glenn B
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