We got our taxes back. As expected, a few changes resulted in a substantially lower tax bill for us. Instead of owing nearly $1,000 like last year we're getting back over $500 on our Federal return. We're also getting back over $3,000 on our state return.
I generally try to get closer to even than that but the investment stuff always throws things off since I can't really control that. Our investment income was down about $12,000 last year so less tax to pay. Also, I sold a losing stock in December so we had a loss to take against what was already reduced investment income. Then they added the new $300 charitable donation deduction that you can take even if you don't itemize, so that helped us too.
I'm certainly not complaining. We'll pay the accountant and the rest goes into savings.
March 2nd, 2021 at 07:44 am 1614671062