Anyone have the latest tax estimator? I would like to see how much we will end up owing next year. That various plans had us between $700-900 more federal taxes for a married retired couple (one over 65, one under 65).
Never mind, I found the latest tax rates. Since all of the tax estimators didn't break out SS income separately, they aren't equipped to determine which portion of that income is taxable. Also, the estimators don't ask for medical expenses separately, which is kind of important in the comparison since the current system has a 10% of AGI threshold, while the new tax scheme has a 7.5% of AGI threshold.
Based on manually computing the difference, we'll owe $450 more under the new tax plan, or about 10% more than we would have owed. :middle_finger: