How does Tax Reform affect you in 2018?

Posted on March 14, 2018 by Wis Laughlin

Select TAX SUMMARY_2018 to download an excellent summary of the effects ofTax Reform on you as an individual in 2018. See:

  • the new 12%-37% tax brackets.

  • maximum contributions you can make to IRA’s and 401(k)s.

  • the new $12,000 to $24,000 Standard Deductions.

  • for taxpayers who can deduct more than the Standard Deduction you can see your limits for medical, state and local taxes and mortgage interest.

  • the new child tax credits that replace personal exemptions.

  • OTHER TAXES: The various taxes on capital gains and qualified dividends, the 3.8% tax on investment income, the alternative minimum tax,  self-employment tax and 0.9% Medicare Tax on wages and self-employment .

  • Finally, the new 20% deduction for pass through businesses.

About Wis Laughlin

I help clients with tax preparation and IRS representation, estate planning, and complex contracts, including LLC's. As a former IRS tax attorney in their National Office. Law.com picked Wis in 2017 and several prior years as one of the Top Tax and Estate Lawyers in Tennessee. I am your advocate, not your accountant. I don't tell you what you can't do. I show you how to do it.
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