Author: Carrie B. Reyes

Income bracket changes under 2018 tax plan

While you’re busy preparing your 2017 tax returns, it’s never too early to look ahead to next year. The Republican Tax Plan made numerous changes to how you will report, deduct and pay taxes beginning next year for income earned in 2018. One of the changes made impacts everyone: new tax brackets. Compared to what you paid in 2017, the new tax brackets for income earned in 2018 are: Source: Tax Policy Center To summarize, the lowest income earners will be taxed the same in 2018, at 10%. Middle- and high-income earners will receive a slightly lower tax rate...

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