Most paychecks went up after they took effect. Did yours? That might be where some of that offset is coming from.
I tried doing some research last night, but got annoyed because people were complaining their refund went down without any context of withholdings, paychecks, etc. I want them to talk tax liability - that's obviously too much to ask.
I need to go back and compare tax liability and effective tax rate from 2017 to see if I should be upset. I started to do that, then realized to do it right I really needed to look at my pre-tax savings rate to make it a fair comparison. That was too much effort at the time. Our refund went from $3500 to $1500, but that doesn't mean shit without the rest of it.
I tried doing some research last night, but got annoyed because people were complaining their refund went down without any context of withholdings, paychecks, etc. I want them to talk tax liability - that's obviously too much to ask.
I need to go back and compare tax liability and effective tax rate from 2017 to see if I should be upset. I started to do that, then realized to do it right I really needed to look at my pre-tax savings rate to make it a fair comparison. That was too much effort at the time. Our refund went from $3500 to $1500, but that doesn't mean shit without the rest of it.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth