New Signed Tax Cut Plan & How It Affects You!
New Signed Tax Cut Plan. It cuts the corporate tax rate from 35 percent to 21 percent beginning in 2018. The top individual tax rate will drop to 37 percent. It cuts income tax rates, doubles the standard deduction, and eliminates personal exemptions. The corporate cuts are permanent, while the individual changes expire at the end of 2025. Get The most out of your return with our experienced accountants at Greenlight Financial!
Here's a summary of how the Act changes income taxes: