I dont think the rates have been changed yet. I thought a few more years before the Trump rates time out. So what was the cause of your increase? Higher income? Fewer deductions?
I have paid ALOT in taxes the last two years (and will for a while) as I rollover non-Roth retirements to Roth. But I am racing to complete this effort before the brackets and rates go up. Before I starting rolling over 401ks, I broke almost even every year on tax owed vs previously collected by withholding.
My tax situation is pretty boring and stable, but earned interest investments is where the hit always comes from. All I can say is that our total investments increased, but not so much that is justifies the total swap I described in the original post - at least in my humble opinion.
Anyway, I'm hoping mistakes were made and I get some of that money back, but who knows?
Exactly. 2021 Tax rates cannot be blamed on Biden.
We won’t really begin to suffer the effects of The Steal and how it affects our income taxes until next year.