- Trump 'tax cut' bill - 1 Update
| Dennis <dgw80@hotmail.com>: Apr 15 01:07PM -0700 We wound up paying several thousand beyond withholdings for TY2018, but that was mostly my fault because I forgot to adjust my 2018 W4 withholding after 2 kids finished college and the (signifcant) associated deductions and credits went away. As far as the actual tax rate, we paid 8.2% for TY2017 and 8.8% for TY2018 (total tax/total income). Not apples-to-apples, but considering 2 fewer deductions/credits for TY2018 vs. TY2017, I think my taxes would have been in lower in 2018 with the new tax rules and rates if we were still eligible for the same deductions that we had in TY2017. Dennis (evil) -- My output is down, my income is up, I take a short position on the long bond and my revenue stream has its own cash flow. -George Carlin |
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