A Quick Analysis of the Proposed Tax Brackets
The proposed tax legislation is broad in scope. But the most popular component is the change in income tax brackets, and what that may mean for all of us.
So far, all that we’ve read simply lists the new brackets. We thought doing a little math, too, might be helpful.
The charts below compare outcomes based on income after deductions, and before any credits or additional taxes. Their purpose is simply to compare current brackets with the proposed brackets.
Of course, we’ll keep you updated, as none of this is yet etched in stone.
John & Bill