For most of us the individual income tax rates will stay the same. The 10%, 15%, 25%, 28%, 33% and 35% tax brackets were made permanent. However, a 39.6% tax bracket was added for those taxable income levels above: $400,000 if single, $450,000 if married filing jointly, $425,000 if filing as head of household and $225,000 if married filing separate. Fiduciary (estates and trusts) taxpayers reach the 39.6% bracket at just $11,950. Click here to learn more about how Direction Financial Management can help you navigate through these changes.
