Tax Insight – July 2018

Posted on: 7 . 1 . 2018

Mid-Year Tax Checkup

It’s hard to believe that we are halfway through the year already. July is a good time to make sure that you are making the best choices for your tax health. Here are some tips to help make tax time 2019 less stressful.

With meticulous planning, you can know how much your balance due or refund is well before your taxes are due. This can help lessen the stress around tax time.

2018 Tax Brackets

Marginal Rate Single MFJ/QW HOH MFS
10% $9,525 $19,050 $13,600 $9,525
12% $38,700 $77,400 $51,800 $38,700
22% $82,500 $165,000 $82,500 $82,500
24% $157,500 $315,000 $157,500 $157,500
32% $200,000 $400,000 $200,000 $200,000
35% $500,000 $600,000 $500,000 $300,000
37% Above Above Above Above

 

Did You Know?

The second and third presidents of the United States, John Adams and Thomas Jefferson, died on the same day, July 4, 1826, fifty years after the Declaration of Independence. The fifth president, James Monroe, died six years later on July 4, 1831. And Calvin Coolidge, the thirtieth president, was born on July 4, 1872.

Quote Corner

“Perseverance is failing 19 times, and succeeding the 20th.” ~ Julie Andrews

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