02-20-2019, 05:53 PM
(02-19-2019, 07:44 PM)fredtoast Wrote: You are not reading the chart correctly.
233,350 in 2017 equals 52,222 in taxes. That is an effective rate of 22.3
233,350 in 2018 equals 44,583* in taxes. That is an effective rate of 19.1
*28,179 + [.24 x (233,350 - 165,000)]
So the effective rate only drops 3.2 percentage points.
You are right, I looked at the wrong line. But my point is still the same.
Total tax savings 2017 vs 2018 is $7639 or a 14.6% savings (less tax due).