Are people's tax returns higher because they paid less taxes last year?

You were right the first time, retard

>$7k.
No way that's the total you paid. Or you had some serious deduction magic

People are paying more in taxes because Trump lied. He is the white Obama, he has been on campaign for 5 years, no wall, no immigration reform, tax cuts hurt the average person. Anyone who still thinks he can win 2020 is just trolling you, the has jumped the shark.

Liar, I can tell by the number you pulled out of your ass you don't even have a full time job. Stop spreading lies.

I didnt pay shit i actually got more back then what i paid in
Thanks based earned income credit

Why would a person get more of a tax refund if they paid less taxes

don't try to have a serious talk about taxes on a website where the average age of user is 14

No way, I'm a licensed CPA.
Unless you have 500+k in rental property then you're talking out of your ass.
Post your 1040 with blurred out identifiable info.

I paid $0.

Kill yourself

>Why would a person get more of a tax refund if they paid less taxes
Have you never filed taxes before? Absolute state of burger education.
In extremely simplified terms, here's how it works:
You need to pay 90% of your actual income (which you don't know, hence have to predict) tax or else you will be fined. therefore, the vast majority of people pay the same amount they did the year before that (assuming their income didn't change). Which means, when the government finally processes their 1040s, they take whatever was computed and issue a tax return.
People are getting more money back from the government than they did the last time because of the tax cuts.
Meaning, people have more money to spend/save.

Depends on how they did their withholdings

That’s because you made 0$ and the benefits and VAT already had taxes applied

except no one i getting more money back, at least anyone that has the balls to post proof.

>I made like $250K in 2017 and paid about $7k.
no you didn't

I had to pay 1505 buck to the i.r.s. not complaining I'm a rich fat. Keeping them nigz feed and them spics on free dialysis

You have to be 18 to post here kid, fuck off.
I'm a licensed CPA and have prepared taxes for 6 of my family members, including my self.
You're talking out of your ass.

My understanding was that if you didn't itemize to begin with you'd get more of a refund, a grey zone where you used to itemize but now you don't and it might be better and it might be worse, and those people who still itemize and its worse

I am getting more and won’t post proof just so I can be right and show you how little I care about validating to an anonymous lilboi

I own 20 apartments, purchased for $1.3m in 2017, I then did a cost segregation study which speeds the depreciation of apartments from the normal 27.5 years down to 3, 5, and 7 years.

I took a $300K loss in 2017. Plus I am classified as a "real estate professional" on my tax returns which gives me further deductions.

This is common knowledge in the real estate investing world, Robert Kiyosaki who wrote "rich dad poor dad", he brags about being worth hundreds of millions of dollars and paying ZERO in taxes due to real estate depreciation

I'm sure an "accountant" from Lebanon knows more about the US tax code than I do.

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CPA (certified public accountant) in the state of new hampshire with 10+ years of public accounting experience. Come at me faggot.
You know you're gonna pay depreciation recapture tax when you sell your property, right?
Only way around it is to keep re-investing the money in real estate. When the market crashes or you try to get out of it, you're fucked.
You're playing a risky game user.

If you're in New Hampshire why is your flag from Lebanon?

Firstly, I never plan on selling. The ONLY way I would consider it is if a deal too good to pass up came along & I needed to sell in order to capitalize on it. And then I would just do a 1031 exchange.

You don't need to sell properties anymore. You can simply 1. Buy a property 2. Rehab, raise rents 3. Refinance 5. Pull your money back out & buy the next property. Fannie Mae has an agency debt product that lets you internally refinance every year, so if you had 100 units & raised rents $20 each, you've created $240K+ in equity, and you can refinance out ~$200K of that, all tax free since it's considered a loan.

I'll "defer" taxes until I die, and then my beneficiaries will inherit the properties at their current market value and the taxes owed will disappear.

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>If you're in New Hampshire why is your flag from Lebanon?
What is dual citizenship?
>I'll "defer" taxes until I die, and then my beneficiaries will inherit the properties at their current market value and the taxes owed will disappear.
It's a clever way of avoiding taxes, but unfortunately too many lefties already know about it. There're articles upon articles being written about inheritance tax. I wouldn't be surprised if the dems pass something along whenever they have the power.
As I've said, it's a risky game that I don't like to play. I'm extremely risk averse, since I made my money myself. I declare my earnings from my offshore account (making 13% return a year) and pay taxes on it to avoid any headaches.
To each their own. Just cross your fingers and hope that bitch AOC and her elk never get to power.

NO
BECAUSE WE STOPPED THE FUCKING KIKES FROM GETTING UNFAIR DISCOUNTS ON FEDERAL TAXES
LIKE THIS JEW YORKER KIKE HERE
WRONG VPN YOU FUCKING TEL AVIV KIKE
ASK WHY SENATORS of other states allowed (((((((((new york))))))) to steal federal dollars for so long

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>I own 20 apartments, purchased for $1.3m in 2017
that's a substantial investment
>I took a $300K loss in 2017
oh so you didn't make 250k
>he brags about being worth hundreds of millions of dollars and paying ZERO in taxes due to real estate depreciation
depreciation is just you (slowly, even if you accelerated) expensing money already spent to offset your income. if you're in real estate of course you're not paying income tax. you're just paying property taxes, municipality fees, inspections, tax on insurance and all sorts of other local bullshit. Knowing that, I'm not sure why you're bragging about not paying income tax on the federal level.

Don't know. Unlike you deadbeat faggots, I have to pay money. I will wait until April to worry about how much I have to pay you lazy fucks. Strive for mediocrity!