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IRS Releases Key 2018 Tax Information

IRS Releases Key 2018 Tax Information

The IRS recently announced key figures for 2018, using figures based on the Consumer Price Index published by the Department of Labor. Use these early figures to start developing your tax strategies for next year.
 
Tax Brackets: There are currently seven tax brackets ranging from 0 percent to 39.6 percent. Each of the income brackets rose between 1.9 and 2.1 percent.
 
Personal Exemption: $4,150 in 2018 (up $100 from 2017)
 

Standard Deductions:

 
2018 Standard Deductions
 

Other Key figures:

 
2018 Other Key Figures
 

Caution: Remember, these early IRS figures are prior to any potential tax law changes currently under consideration in Washington D.C.

Michael Guertin

Michael is the President of Aperto, a family-owned and operated CPA firm based in San Antonio, TX. He's an entrepreneur that happens to be a CPA and he's been helping small business owners thrive for over 16 years.

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