2017 TAX REFORM CHANGES AFFECTING INDIVIDUALS

2017 TAX REFORM CHANGES AFFECTING INDIVIDUALS

Tax Rates and Brackets. TCJA provides seven tax brackets, with most rates being two to three points lower than the ones
under present law (the top rate goes from 39.6 percent to 37 percent). The top rate kicks in at $600,000 of taxable income for
joint filers, $300,000 for married taxpayers filing separately, and $400,000 for all other individual taxpayers.While applicable
rates at any given level of income generally go down by two to three points, some go up. For example, the rate for single
individuals with taxable income between $200,000 and $400,000 goes from 33 percent to 35 percent…

Download the PDF of our full tax letter below.