2014 Tax Incidence

Tax time is here, and that means it’s time to calculate our 2014 tax incidence below…

I thought there would be big changes due to the birth of Sonja, but I was largely wrong. Overall tax burden is up just a bit, and did reach an all-time high (just barely):

Breakdown by tax. Federal taxes are up a bit, property taxes went down due to legislative changes:

Cumulative view:

State tax burden is down a bit too, largely due to the property tax reduction:

Our estimated property taxes for 2015 are higher, and I can’t see any other reason why our taxes will go down in 2015 (aside from the fact that we should not have to buy a car and therefore pay the MVST), so tax burden will probably be higher next year.