Monthly Archives January 2018

Tax Reform Highlights

Here are some brief updates about the tax bill that was recently passed. Keep in mind that the industry is still working through the ramifications of the legislation; there will be much more in-depth information coming throughout the year.   New Income Tax Rates The tax brackets for individuals have been lowered for everyone except the lowest bracket, until 2026, when they revert back to 2017 rates. (Employees will see the lowered withholding on their February 2018 paychecks.) The bracket income levels will rise each year with inflation, because they are now tied to the chained consumer price index. Over
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Categories: Tax Planning.