No. of Recommendations: 8
I started doing tax return yesterday, so became aware of the new form Schedule 1a I'd need to file.
The extra $6k deduction is leading to about another $600 in refunded
amount. Part of it was phased out, but this will be different for
everybody.
Nobody likes paying taxes, myself included. But my effective
Federal tax rate is ending up being less than 11%. I arrive at this
number by dividing the amount of tax I end up paying by the AGI on
line 15 ( I think, don't have the form in front of me ).
I am fully aware that there are a lot of other taxes we pay, we got the Trump-Tariff-tax, sales tax, property tax, gas tax, etc. But
Americans are delusional if they think the Federal Government is
overtaxing them.
