rates are going up 2%
Maybe, depending on the final outcome. But even if that’s true, the income levels that will trigger the tax brackets will be rising. So your income could fit into the lower bracket depending upon how it all shakes out.
For example, let’s say Tax bracket “A” increases it’s tax rate from 7-8% under the plan. But instead of that bracket starting at $100,000 of Taxable Income, it now starts at $120,000.
A lot of wrangling will go on between now and a bill that actually gets voted on (if we make it that far) so it pays to be optimistic and watch this....