Tax Cuts and Jobs Act: The Complete Bill
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Tax Cuts and Jobs Act: The Complete Bill
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At the end of 2017, Congress passed the biggest tax plan since 1986. Whether you were for or against the sweeping overhaul, the Tax Cuts and Jobs Act will begin to affect individuals and businesses as early as January 2018. Yet, until now, relatively few people have had access to it or read it. Whether you file on your own, use someone to prepare your taxes, or you are an accountant yourself, to really understand how the bill will affect you means you must dig in. And having this complete resource, including the full text of the bill, will help you navigate its complexities. From dramatic reductions in taxes for corporations and other businesses, to an increase to standard individual deductions, there are many changes that Americans need to understand before the IRS comes calling. With insider analysis and insight from Patricia Cohen, who covers the national economy for the New York Times and whose front-page stories on this topic informed a nation, as well as specific tips from Michael Cohn, editor-in-chief of AccountingToday.com, this is an indispensable reference.
HĂ€ufig gestellte Fragen
ââIf taxable income is: | The tax is: |
Not over $19,050 âŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠ.. | 10% of taxable income. |
Over $19,050 but not over $77,400 âŠâŠâŠ. | $1,905, plus 12% of the excess over $19,050. |
Over $77,400 but not over $165,000 âŠâŠ.. | $8,907, plus 22% of the excess over $77,400. |
Over $165,000 but not over $315,000 âŠâŠ | $28,179, plus 24% of the excess over $165,000. |
Over $315,000 but not over $400,000 âŠâŠ | $64,179, plus 32% of the excess over $315,000. |
Over $400,000 but not over $600,000 âŠâŠ | $91,379, plus 35% of the excess over $400,000. |
Over $600,000 âŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠ. | $161,379, plus 37% of the excess over $600,000. |
ââIf taxable income is: | The tax is: |
Not over $13,600 âŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠ.. | 10% of taxable income. |
Over $13,600 but not over $51,800 âŠâŠâŠ. | $1,360, plus 12% of the excess over $13,600. |
Over $51,800 but not over $82,500 âŠâŠâŠ. | $5,944, plus 22% of the excess over $51,800. |
Over $82,500 but not over $157,500 âŠâŠ.. | $12,698, plus 24% of the excess over $82,500. |
Over $157,500 but not over $200,000 âŠâŠ | $30,698, plus 32% of the excess over $157,500. |
Over $200,000 but not over $500,000 âŠâŠ | $44,298, plus 35% of the excess over $200,000. |
Over $500,000 âŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠ. | $149,298, plus 37% of the excess over $500,000. |
ââIf taxable income is: | The tax is: |
Not over $9,525 âŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠ. | 10% of taxable income. |
Over $9,525 but not over $38,700 âŠâŠâŠâŠ | $952.50, plus 12% of the excess over $9,525. |
Over $38,700 but not over $82,500 âŠâŠâŠ. | $4,453.50, plus 22% of the excess over $38,700. |
Over $82,500 but not over $157,500 âŠâŠ.. | $14,089.50, plus 24% of the excess over $82,500. |
Over $157,500 but not over $200,000 âŠâŠ | $32,089.50, plus 32% of the excess over $157,500. |
Over $200,000 but not over $500,000 âŠâŠ | $45,689.50, plus 35% of the excess over $200,000. |
Over $500,000 âŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠ. | $150,689.50, plus 37% of the excess over $500,000. |
ââIf taxable income is: | The tax is: |
Not over $9,525 âŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠ. | 10% of taxable income. |
Over $9,525 but not over $38,700 âŠâŠâŠâŠ | $952.50, plus 12% of the excess over $9,525. |
Over $38,700 but not over $82,500 âŠâŠâŠ. | $4,453.50, plus 22% of the excess over $38,700. |
Over $82,500 but not over $157,500 âŠâŠ.. | $14,089.50, plus 24% of the excess over $82,500. |
Over $157,500 but not over $200,000 âŠâŠ | $32,089.50, plus 32% of the excess over $157,500. |
Over $200,000 but not over $300,000 âŠâŠ | $45,689.50, plus 35% of the excess over $200,000. |
Over $300,000 âŠâŠâŠâŠâŠâŠâŠâŠ | $80,689.50, plus 37% of the excess over $300,000. |
ââIf taxable income is: | The tax is: |
Not over $2,550 âŠâŠâŠâŠâŠâŠâŠâŠ. | 10% of taxable income. |
Over $2,550 but not over $9,150 âŠâŠâŠâŠ.. | $255, plus 24% of the excess over $2,550. |
Over $9,150 but not over $12,500 âŠâŠâŠâŠ | $1,839, plus 35% of the excess over $9,150. |
Over $12,500 âŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠâŠ | $3,011.50, plus 37% of the excess over $12,500. |