Yes, the low-info, media educated public very confused about tax liability vs. refund/owed. I guess a lot of folks were using withholding as an interest free savings account or annual bonus? Now I understand how AOC got elected. Most people really have a paycheck-to-paycheck mindset.

My numbers aren't finalized, tax guy has them now. If my projections are right (2017 1014 vs 2018 1040 methods) I am looking at a big swing in my favor and last year was one of my worst years for biz revenue.

Having an S-Corp* helped along with the child tax credit and lower rate brackets. I was getting phased out on the CTC but now am not. If you have adult dependents, I could see some pain in loosing the exemptions and not having a recovery with the CTC.

My deductions for most years are over the $24K but not last year. We gave less to charity because I made much less. So 2018 is just under the $24K limit. I am still trying to understand the scenarios in which this is a problem for people. I can't fathom paying that much in mortgage interest (or any other category) where this is problem. And you can still deduct/schedule just not above the SALT cap.




*All you guys running as sole props/1099 income should seriously look into an S-Corp if you are going to run your businesses for more than a year or two. There is some monthly overhead expense/time but you more than make up for it in lower taxes. And because you pay yourself W-2 you don't have to do the quarterly estimates/payments.