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Real Estate News Blog - Zatopek Properties

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Julius has been a real estate broker for over 20+ years and has coached, mentored, and trained many others. He has always been focused on staying abreast of the latest real estate trends, news, and laws.

2018 Tax Cuts and Jobs Act Summary


January 2nd, 2018


2018 Tax Cuts and Jobs Act Summary

Provided by: Monica J. Sedillo, CPA

The Tax Cuts and Jobs Act was signed into law on December 22nd.  Here is a summary of the tax law changes regarding Individual Tax Returns, which are effective with tax years beginning January 1, 2018.





Individuals
  1. New Income Tax Brackets
    1. Married Filing Jointly
                                                               i.      10% Not over $19,050
                                                             ii.      12% $19,050 - $77,400
                                                           iii.      22% $77,400 - $165,000
                                                           iv.      24% $165,000 - $315,000
                                                             v.      32% $315,000 - $400,000
                                                           vi.      35% $400,000 - $600,000
                                                          vii.      37% Over $600,000
    1. Single
                                                               i.      10% Not over $9,525
                                                             ii.      12% $9,525 - $38,700
                                                           iii.      22% $38,700 - $82,500
                                                           iv.      24% $82,500 - $157,500
                                                             v.      32% $157,500 - $200,000
                                                           vi.      35% $200,000 - $500,000
                                                          vii.      37% Over $500,000
    1. Head of Household
                                                               i.      10% Not over $13,600
                                                             ii.      12% $13,600 - $51,800
                                                           iii.      22% $51,800 - $82,500
                                                           iv.      24% $82,500 - $157,500
                                                             v.      32% $157,500 - $200,000
                                                           vi.      35% $200,000 - $500,000
                                                          vii.      37% Over $500,000
    1. Married Filing Separately
                                                               i.      10% Not over $9,525
                                                             ii.      12% $9,525 - $38,700
               &n

Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®
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