Tags Archives2018 tax changes

Last month, President Trump signed into law a package of tax cuts (or changes to some).  While I'm not a CPA and each person should contact their own accountant, below are the highlights of the changes that have gone into effect for next year.  The bill is long and there will be new strategies coming out over the coming months as it is digested for how to best take advantage of the new rules.  As those strategies become publicized, I'll create an update post with that relevant information.   Individual Income Tax Rates The bill maintains seven individual income tax brackets, but changes the tax rates and thresholds. See the charts below. Previous law: These are the tax brackets that individual taxpayers will use ...