Few Things to Keep in Mind for Next Year (February 11, 2018)

For starters, the tax rate table has changed so the amount you owe the Feds will significantly change.  Here is the released 2018 Tax Table for your planning:

Tax Brackets and Rates, 2018
Rate For Unmarried Individuals, Taxable Income Over For Married Individuals Filing Joint Returns, Taxable Income Over For Heads of Households, Taxable Income Over
10% $0 $0 $0
12% $9,525 $19,050 $13,600
22% $38,700 $77,400 $51,800
24% $82,500 $165,000 $82,500
32% $157,500 $315,000 $157,500
35% $200,000 $400,000 $200,000
37% $500,000 $600,000 $500,000
2018 Standard Deduction and Personal Exemption
Filing Status Deduction Amount
Single $12,000
Married Filing Jointly $24,000
Head of Household $18,000

 

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