{"id":8743,"date":"2017-12-22T19:18:04","date_gmt":"2017-12-23T00:18:04","guid":{"rendered":"https:\/\/spinor.info\/weblog\/?p=8743"},"modified":"2017-12-22T19:19:36","modified_gmt":"2017-12-23T00:19:36","slug":"us-federal-income-tax-in-2018","status":"publish","type":"post","link":"https:\/\/spinor.info\/weblog\/?p=8743","title":{"rendered":"US federal income tax in 2018"},"content":{"rendered":"<p>So our American friends south of the border have a new tax legislation. I&#8217;ve seen many discussions of how it affects people in various income brackets, but all too often, these are more confusing than helpful.<\/p>\n<p>So instead, here is a handy chart that shows how the federal tax rate decreases as a percentage of taxable income for individuals, joint filers and heads of households (based on <a href=\"http:\/\/money.cnn.com\/interactive\/news\/new-2018-tax-brackets\/index.html\">tables provided by CNN<\/a>):<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-8744\" src=\"https:\/\/spinor.info\/weblog\/wp-content\/uploads\/2017\/12\/US-2018-tax-change.png\" alt=\"\" width=\"480\" height=\"288\" srcset=\"https:\/\/spinor.info\/weblog\/wp-content\/uploads\/2017\/12\/US-2018-tax-change.png 480w, https:\/\/spinor.info\/weblog\/wp-content\/uploads\/2017\/12\/US-2018-tax-change-300x180.png 300w\" sizes=\"(max-width: 480px) 100vw, 480px\" \/><\/p>\n<p>While most folks will enjoy a tax break, it is interesting to see that some individuals and heads of households will actually see a tax increase:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-8745\" src=\"https:\/\/spinor.info\/weblog\/wp-content\/uploads\/2017\/12\/US-2018-tax-detail.png\" alt=\"\" width=\"480\" height=\"288\" srcset=\"https:\/\/spinor.info\/weblog\/wp-content\/uploads\/2017\/12\/US-2018-tax-detail.png 480w, https:\/\/spinor.info\/weblog\/wp-content\/uploads\/2017\/12\/US-2018-tax-detail-300x180.png 300w\" sizes=\"(max-width: 480px) 100vw, 480px\" \/><\/p>\n<p>Married couples benefit the most (mainly as a result of some arcane tax brackets that were in effect before the new legislation), which is probably a Good Thing; I am not so sure about the 2.6% tax break offered to the wealthiest, however.<\/p>\n<p>Anyhow, I pay my taxes in Ontario, Canada, so it really doesn&#8217;t bother me one way or another, I just wanted to understand a little better what actually is going on.<\/p>\n<fb:like href='https:\/\/spinor.info\/weblog\/?p=8743' send='true' layout='standard' show_faces='true' width='450' height='65' action='like' colorscheme='light' font='lucida grande'><\/fb:like>","protected":false},"excerpt":{"rendered":"<p>So our American friends south of the border have a new tax legislation. I&#8217;ve seen many discussions of how it affects people in various income brackets, but all too often, these are more confusing than helpful. So instead, here is a handy chart that shows how the federal tax rate decreases as a percentage of <a href='https:\/\/spinor.info\/weblog\/?p=8743' class='excerpt-more'>[&#8230;]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,5],"tags":[],"class_list":["post-8743","post","type-post","status-publish","format-standard","hentry","category-economy","category-politics","category-19-id","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=\/wp\/v2\/posts\/8743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8743"}],"version-history":[{"count":3,"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=\/wp\/v2\/posts\/8743\/revisions"}],"predecessor-version":[{"id":8748,"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=\/wp\/v2\/posts\/8743\/revisions\/8748"}],"wp:attachment":[{"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/spinor.info\/weblog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}