If your income is $250,000 to $500,000, you will see significant tax savings this coming year.
If your income falls within the range mentioned above, we are seeing $5,000 to $16,000 tax savings in 2018 under the Trump Plan over the taxes the government kept in 2017. For incomes below $250,000, we see a decrease in the tax savings but on average we are $3,000 in tax savings for those taxpayers. For those with incomes over $500,000, we are seeing the tax savings dwindle and become a tax increase the higher the income level goes.
I missed my Sunday Update.
We had 753 phone calls this past week (March 19th through 24th). I usually publish these updates on Sunday morning or afternoon, but this past Sunday I had to spend some time with Kynzley, my granddaughter. Seven weeks of Tax Season is a really long time to a 4 year old. So, I’m trying to catch up between appointments here.
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