Jaybeaux
Well-Known Member
- Jan 3, 2016
- 2,071
- Boat Info
- 2006 Sea Ray 48
Naught On Call
- Engines
- Cummins QSC-540s with V-Drives
11 KW Onan Genset
After all of the discussion about the tax law changes, I thought it may be fun to see how things worked out now that it is time to file. So, here is a simple poll. Calculate the ratio of the tax you paid to your taxable income and compare it to the same value from your 2017 taxes. Maybe this will demonstrate the impact that the new law has on people. I chose taxable income because that is net of deductions and exemptions.
Example: Taxable Income, Line 43 on 2017 Form
Total Tax, Line 63 on 2017 Form
Result: Line 63 divided by Line 43
Jaybeaux
Example: Taxable Income, Line 43 on 2017 Form
Total Tax, Line 63 on 2017 Form
Result: Line 63 divided by Line 43
Jaybeaux