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THURSDAY TAX TIDBITS

More Tax Law Changes
The Republican tax bill was signed into law at the end of December. The seven tax bracket ranges have been adjusted, personal exemptions have been removed, and standard deductions have increased.

The seven federal tax brackets have slightly lowered rates and new ranges.






In 2017, the standard deduction for a single taxpayer was $6,350, plus one personal exemption of $4,050.

The new law combines those into one larger standard deduction for 2018: $12,000 for single filers and $24,000 for joint filers.

To answer more personal questions on how this may impact your personal or business taxes, please reach out to my office! We are open Monday to Friday from 9 AM to 5 PM; contact us by email or phone at: thetaxlady4u@gmail.com or 253.581.1461 

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