General Discussion
In reply to the discussion: I'm Old, on Social Security, and Just Finished Doing My Taxes [View all]watoos
(7,142 posts)I am on SS and I control my withholding. The firm that runs my pension deducted less federal withholding without my asking them to which affected my refund a little. I also get money from a 401k that my withholding stayed the same. My wife makes a tiny bit of income.
Comparing 2017 with 2018;
I made 3k less in 2018 than 2017.
My taxable income was 6k less in 2018 than in 2017.
My tax was 400 dollars less in 2018
My refund was 600 dollars more this year.
I made out because it's just the wife and I and since we are older we got 26,600 for our standard deduction which offset losing the exemptions.
People who are on SS should not have been affected much by Trump's tax scam as other people who were still working were, or depending how many kids you have.