Week#10 Taxes
Last evening we learn a lot about taxes and the new tax law changes that are happening now and are about to come.
In 1789, in a letter to Jean Baptiste Leroy, Benjamin Franklin wrote, “In this world nothing can be said to be certain, except death and taxes.”
What new tax law did you learn?
Hello. To be totally honest. I had no clue about anything she spoke on. It was an eye opener for me. I learned everything new about the tax law. I should have known a lot more things. I feel really embarrassed about not knowing. Especially filing my taxes. I just drop my taxes off and never go thru them. Very sad and disappointing. I need to stop taking things for granted.
ReplyDeleteI hear you. I sometimes tell myself "I know what I know until I know differently." Now you have knowledge to move forward to make choices which align with what truly works best for you! What's that saying? ...."Knowledge is power."
DeleteStacy don't be embarrassed, I feel.the same way.I agree with Jess, knowledge is power. And we grow from what we know or learn.
DeleteStacy ,taxes for me it's stressful. The information provided was an eye opener and knowledge it's key like Jess and Onika mentioned. I learned new things from this tax class as well
DeleteOne thing which stood out for me were the repercussions / consequences regarding Married filing separately/jointly. While it doesn't pertain to me right now and one day it may well :) ....so, it is of clear benefit to file jointly if one has a spouse. I also appreciated & valued her explanation about the context of the tapering off of EITC amounts as income increases. There was such a plethora of information - there was something for everyone in her presentation. ...and, some of it felt mind boggling to process/consider the whole of it.
ReplyDeleteThe tax preparation is definitely a confusing one, the speaker did provider a ton of useful information and took.her time explaining it. Which proved somewhat helpful....
DeleteThank you Jess. Absolutely knowledge is power
ReplyDeleteYou're welcome 🌻. ...even as I lean in to align with my innate Queenly truth and claim my power. Knowledge and birth right - this is my current take on how to tune in, tap, and actionize financial change. I also believe it is important to weed my subconscious error thinking/beliefs so my fiscal garden can flourish. ✨💕🌷🌻🌷✨🙏🏼
DeleteJess your are so right about the repercussions and consequences. So much to learn and understand. It was a great presentation. No I can share my knowledge with someone that probably did not know.
ReplyDeleteI love this! Pass it on! I see us all in the garden of life together.
DeleteI discovered that navigating taxes can be complicated. I now grasp the nuances of how married couples should approach their tax filings. The concept of the head of the household is applicable to numerous households. I consider VITA to be a crucial community resource.
ReplyDeleteI'm glad that tou grasp.the tax topic. ViTA is a great asset..
DeleteHello Jessica. I have gained insight into the filing status of married couples. I now comprehend the EITC better, particularly it’s gradual reduction as income rises. The intricacies of taxes prove to be intriguing.
ReplyDeleteGreetings Stacy. I’ve been informed about about various subjects, and taxes indeed pose a challenge. I am grateful for individuals like the presenter and Eileen, who are eager to educate us on financial literacy. While submitting my taxes, I realized the importance of actively participating alongside the accountant. It seems you’re not taking anything for granted; we’re on a journey of enlightenment, learning, and growth. You’ve got this!!!!
ReplyDeleteNicole, I agree I to am.very grateful for Eileen, this course has proved very beneficial. We all have learned so much..
DeleteHi ladies, I agree every week we are blessed with new information that benefits us in our your journey for financial freedom. Thank you Eileen and also to all you ladies.
DeleteIt's definitely an honor and a privilege to have Eileen and the instructors per each class share their wisdom and knowledge regarding finances!
DeleteThe tax conversation we had last one was a difficult one for me.
ReplyDeleteI Honestly get very confused when it comes to taxes, especially when it comes to what is allowed and not allowed.
The EITC, child tax credit.
I bring them to a tax preparer and let them.handle it.
I did manage to do my taxes by myself last year and based on my return, I assumed I did something right, which gives me encouragement to do.it again next year.
Hi Onika, the amount of information covered as a bit mind boggling for me. I tended to focus on what applies to me right now. Given that I'm single and without dependents, it makes it easier for me in dealing with tax law. I'm curious if you have ever brought your taxes to CRT for their special program? I have been blessed to have them prepare mine for the past 3-4 years. Very smart and certified people volunteering to do the tax prep. Were you aware of this?
DeleteThe information provided by the presenter was very informative. In the past two years I asked to pay a little extra for taxes throughout the year. I do appreciate this classes, Eileen and the presenters for all the new information provided each week.
ReplyDeleteHi Liz, I agree that Eileen and the presenters have been quite helpful in generating new understandings and practices. It sounds like your newer practice of changing your tax withholding is proactive. Onwards and upwards!
DeleteI loved this presentation. When it comes to taxes, I am clueless. All I can remember growing up is my mom telling me never mess with the IRS she always advised me if I did, I would regret it and I was always scared of them.
ReplyDeleteI used to hear back in the days of people who were in deep trouble for doing things with their children to get extra money.
I have always gone with the truth. I have felt that they have done them wrong before, because I used to listen to people and what they got back and expected the same without realizing everyone's returns are completely different.
Last year was an eye opener. I usually go to Eileen, A couple times I had a family member do them through turbo tax. I am terrified to do them myself, so I won't even try it. So again, me listening to others, I was informed by a friend oh I know someone that gets you the maximum they take their time to find not like the free places they just do the basics. So here I go and pay for that person to do them for me. And when they tell me what I was receiving I was upset same amount, and I could have saved me $350. which was what I got charged. So, I learned a lesson through this class. The vita service is from retired individual who must follow laws and next time I would save money by going back to Eileen.
lol I laughed reading the first sentence in your response because my mom and dad would emphasize the same thing a lot when I was younger. I'm glad you got to take somethings away from the class.
DeleteThis class was informative... normally I would use turbo tax to file my taxes every year.... but this year I will utilize VITA.
ReplyDelete