Monday, January 15, 2018

How Will President Trump’s New Tax Reform Affect You?

income tax filing belleville

Your tax bracket could change! See the tax brackets here for single filers verses married taxpayers filing jointly. 
According to MSN Money, “In 2017, the standard deduction for a single taxpayer was $6,350, plus one personal exemption of $4,050.

The House plan would combine those into one larger standard deduction for 2018: $12,200 for single filers and $24,400 for joint filers. Under the Senate proposal, these would be slightly lower, at $12,000 for single filers and $24,000 for joint filers.”

Taxpayers will have to pay more, eliminating most itemized deductions like school loans, moving expenses, theft loss of valuables, and electric vehicles. Learn more!

Looking for More Information on Income Tax Filing in Belleville?

Schedule a free consultation with Lisa Amador, Enrolled Agent! She’ll walk you through the entire income tax filing process and will be able to customize a plan that fits your needs. Do you need help with tax preparation? She can help you organize your files and help prepare you for tax season. Call today! (734) 330-0907

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