Taxes??

[super_dave]

Has anyone filed yet?

I'm seeing where once you break 75k that the child tax credit starts to fall off and ends up being 0$ at 110k married filing jointly!
Ends in being 1k per child for us.

Also seeing where the amount your employer pays for medical insurance is now added to the income and is taxable!?

Hello liberals? Is this really what y'all voted for? Idiots

[Jaybo31]

Has anyone filed yet?

I'm seeing where once you break 75k that the child tax credit starts to fall off and ends up being 0$ at 110k married filing jointly!
Ends in being 1k per child for us.

Also seeing where the amount your employer pays for medical insurance is now added to the income and is taxable!?

Hello liberals? Is this really what y'all voted for? Idiots

WHAT?! I hope not!

[super_dave]

WHAT?! I hope not!

https://www.taxact.com/tax-information/tax-topics/child-tax-credit-and-additional-child-tax-credit-answers.asp

[rjet]

https://www.taxact.com/tax-informati...it-answers.asp

I dont see anywhere on that site that says employer paid part of health care is taxable. That is going to suck big time if true.

[Texastaxi]

I dont see anywhere on that site that says employer paid part of health care is taxable. That is going to suck big time if true.

It'll suck only if your employer pays for part of your health insurance.

Mine doesn't.

[kyle1974]

the child credit, mortgage interest, college loan interest and other common deductions have been like that for a long time. the entire system is set up to penalize people for success.

[Jaybo31]

https://www.taxact.com/tax-informati...it-answers.asp

No, where are you seeing the employer paid insurance amount being taxable?

[Jaybo31]

I dont see anywhere on that site that says employer paid part of health care is taxable. That is going to suck big time if true.

Everything I see on IRS says still nontaxable like always

[rjet]

Yep, non taxable. Just reported, same as last year.


Form W-2 Reporting of Employer-Sponsored Health Coverage

The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan. Reporting the cost of health care coverage on the Form W-2 does not mean that the coverage is taxable. The value of the employer’s excludable contribution to health coverage continues to be excludable from an employee's income, and it is not taxable. This reporting is for informational purposes only and will provide employees useful and comparable consumer information on the cost of their health care coverage.

[super_dave]

No, where are you seeing the employer paid insurance amount being taxable?

Just doing the math on income and then income taxed. The difference was box 12d

[CBHunter]

the child credit, mortgage interest, college loan interest and other common deductions have been like that for a long time. the entire system is set up to penalize people for success.

Got that right...

[super_dave]

I hope it's not the case.


How about the kids. Is it the same?

[Jaybo31]

Just doing the math on income and then income taxed. The difference was box 12d

Hmmm thats odd. Waiting on one more W2 to start ours.

[kyle1974]

I'm messing with turbo tax today, and after I got most of the information entered, there's a section for jury duty pay. I think I had jury duty this year, but couldn't remember if I took the $6 payment or not. when I entered the $6 pay... it reduced my return by $2.

I am so glad they've thought of everything at the IRS!

[panhandlehunter]

I had to pay in this year. Still not sure how that's even possible. I hate tax time.