Just got my returns back from the accountant. As I expected, I basically broke even. No more intemizing for me (IL is a high tax state) -- using standard deduction. Total tax went down about $800. Effective rate decreased 0.5%. Not too shabby.
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Just finished mine up, waited until the last minute to file because I knew that I would owe a pretty significant amount because of exercising of stock options. My effective tax rate went from 25.0% last year, down to 23.1% this year.
You'll probably have a big hike in state tax coming too, so CA can support all it's new dependents.My effective tax rate went from 17.47 all the way up to 17.7. Oh the humanity!!
You'll probably have a big hike in state tax coming too, so CA can support all it's new dependents.
Yes but I haven't seen them. My accountant did them. I know I posted on here last year what it was but don't remember now. Just know it is very similar to last years.Boatman, with all due respect, you are missing the point....it is NOT about your refund. It is about the amount of tax you pay as a ratio of your taxable income. I don't have any idea of how or what deductions you may or may not take, and the same could be said about me. At the end of the day, it is, for 2019, Line 16 divided by Line 11b. Do the math.
Happy Boating.
Jaybeaux