Wish I could say otherwise but I received no tax cut in 2018. My withholding didn’t change and it didn’t show up on my tax return either. Oh well.
I did pretty well. The “between the lines” deduction for pass-through income was very helpful.
Wish I could say otherwise but I received no tax cut in 2018. My withholding didn’t change and it didn’t show up on my tax return either. Oh well.
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So, did the 2018 bottom line PERCENTAGE of your adjusted gross income (line 7 of your 1040) that was tax (line 15) go UP compared to your 2017 PERCENTAGE? Or did it go DOWN or STAY THE SAME?
Many folks conflate the amount they overpaid in tax withholding (I.e, tax refund) with the amount of taxes they end up paying for the year.
I own a business. I paid about 3 grand less than last year and I made about the same. I do the math on everything and came out ahead. I don’t have the time to explain it but I’m happy. I thought it would be much, much, more.
I paid about $900 less in taxes...did you compare your actual taxes paid from last year, or just go by the refund/payment of this year?