Trump Tax Cuts In Review – It Worked For Me

piggy bank

As a conservative-leaning libertarian, I think I can do a better job spending my money than the government can. Naturally, I was skeptical that the Trump Tax Cuts would actually result in a lower tax rate for us. Most tax cuts are in name only. Seeing a tax cut in 2018 would be particularly difficult. 2018 was a good income year for us. In addition to my salary, we had some capital gains and our side gig had its best year ever. This should be the year we jump into the next tax bracket. Yesterday I completed my tax return using TurboTax. Since I have been using TurboTax for five years, the Tax History Report shows that both the 2018 Effective Tax Rate and the Tax Bracket are lower than any time in the last four years! Wow, that was a pleasant surprise!