Category: Blog

In November 2019, the IRS released the new tax brackets for 2020-2021 with modest changes. The standard deduction was also modified raising the deduction to $12,400 for both single filers and married couples filing separately. Married couples filing jointly can deduct $24,800, and those filing as heads of households can deduct $18,650 in 2021. Here […]

The most recent tax policy – the Tax Cuts and Jobs Act of 2017 – didn’t add any brackets, but it did rearrange some percentages in the seven brackets. The most notable change was reducing the marginal tax rate in three of the four lowest brackets by 1%-to-4%. The new law also nearly doubled the […]