|
|
Trump Tax Cuts
With all of the confusion in the media about the new tax plan, here's the real scoop.
You can compare what your taxes will be for the next eight years (starting in 2018), compared to 2017 (and compared to 2025, if
these cuts are indeed sunset that year as currently planned).
Just enter your marital status, your income, your number of exemptions (this goes away with the new plan),
and how many children you have up to age 17. We'll calculate your 2018 taxes and compare them to your 2017 taxes.
We have also included the (old and new) tax rate tables at the bottom of this page.
Use this simple calculator to find out how much your taxes will change.
2018:
| Tax Bracket |
Married Filing Jointly |
Single |
| 10% |
$0 - $19,050 |
$0 - $9,525 |
| 12% |
$19,050 - $77,400 |
$9,525 - $38,700 |
| 22% |
$77,400 - $165,000 |
$38,700 - $85,000 |
| 24% |
$165,000 - $315,000 |
$85,000 - $157,500 |
| 32% |
$315,000 - $400,000 |
$157,500 - $200,000 |
| 35% |
$400,000 - $600,000 |
$200,000 - $500,000 |
| 37% |
Over $600,000 |
Over $500,000 |
|
|
|
| Standard Deduction |
$24,000 |
$12,000 |
| Child Credit |
$2,000 |
$2,000 |
2017:
| Tax Bracket |
Married Filing Jointly |
Single |
| 10% |
$0 - $19,050 |
$0 - $9,525 |
| 15% |
$19,050 - $77,400 |
$9,525 - $38,700 |
| 25% |
$77,400 - $156,150 |
$38,700 - $93,700 |
| 28% |
$156,150 - $237,950 |
$93,700 - $195,450 |
| 33% |
$237,950 - $424,950 |
$195,450 - $424,950 |
| 35% |
$424,950 - $480,050 |
$424,950 - $426,700 |
| 39.6% |
Over $480,050 |
Over $426,700 |
|
|
|
| Exemption Allowance |
$4,050 |
$4,050 |
| Standard Deduction |
$12,700 |
$6,300 |
| Child Credit |
$1,000 |
$1,000 |
|