Tax FYI

[hollohas]

Based on the draft 1040 and estimated year-end income, my effective tax rate should go down about 1% over last year. That's a win if it holds true.

[Bailey Guns]

I just did a preview of 2018 taxes on THIS CALCULATOR.

It's a mixture of good and bad news. Good news? We made more this year. Bad news? That 22% bracket is killer. Our effective rate last year was about 10.6% (on taxable income). This year it's gonna be right around 14%.

[Gman]

I just did a preview of 2018 taxes on THIS CALCULATOR.

It's a mixture of good and bad news. Good news? We made more this year. Bad news? That 22% bracket is killer. Our effective rate last year was about 10.6% (on taxable income). This year it's gonna be right around 14%.

The more you make, the more you pay...until you make enough to be able to use offsets and shelters.

Had a great meeting with our rep at Fidelity about mid-year to make sure we were on-track with our retirement planning. He was able to point out that we could save about $8K in taxes by increasing my 401K contributions to drop our taxable income to a lower bracket. I'd rather pay myself than hand it over to the Feds.

[brutal]

I just did a preview of 2018 taxes on THIS CALCULATOR.

It's a mixture of good and bad news. Good news? We made more this year. Bad news? That 22% bracket is killer. Our effective rate last year was about 10.6% (on taxable income). This year it's gonna be right around 14%.

Afraid to look.

This (likely) and the market dip is killing me softly.