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Here's where you stand in the new 2018 tax brackets

New President. New tax brackets

 

Check if the latest 2018 tax guidelines could very well place you inside a totally different income tax bracket.

The percentages are not the same as the brackets changed depending upon your taxable income.

  • The new percentage brackets are 10%, 12%, 22%, 24%, 32%, 35 %, and 37 %.
  • Taxable Income Brackets

    between 0 - 9,999

    from 10,000 to 38,999

    between 39,000 - 82,999

    between 83,000 to 157,999

    between158,000 to 199,999

    from 200,000 to 499,999

    500,000 and or more

    Listed below are the tax rates pertaining to married households that will file jointly.

    Rates

    Ten percent

    Twelve percent

    Twenty-two percent

    Twenty-four percent

    Thirty-two percent

    Thirty-five percent

    Thirty-seven percent

     

    Taxable Income Brackets

    0 to 13,999

    14,000 to 51,999

    52,000 to 82,999

    83,000to 157,999

    158,000 to 199,999

    200,000 to 499,999

    500,000 and or more

    The rates prior to 2018 are below:

    Rates

    Married Filing joint

    10%

    0 to 19,999

    15%

    20,000 to 76,999

    25%

    77,000 to 155,999

    28%

    156,000 to 237,999

    33%

    238,000 to 424,999

    35%

    425,000 to 479,999

    39.60%  

    480,000 and or more

     

    Tax specialists have been completely concerned about all the levels combined with brackets since they are key in creating personal tax planning.

    Anyone with payouts and capital income held more than a year have also been watching for the 2018 tax rates, to see if they will need to pay tax on their capital gains. We will write more about this in an upcoming article.