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  • Cash flow,  Kids and Money,  Taxes

    How Will The Tax Cuts & Jobs Act Affect Families?

    /

    Wondering how the Tax Cuts and Jobs Act of 2017 (TCJA) will affect your taxes next year? The tax law will affect families in a myriad of ways. While there were a variety of changes made that affect everyone, this post will focus on the ones that are most impactful to families with kids. Keep in mind that many of these provisions are set to expire in 2025, but this will at least give you something think about as you move through 2018. Tax Rates Were Reduced Tax rates were reduced for all brackets except for the lowest bracket, which remains at 10% of taxable income. There was some shifting…

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This is general financial advice that may not apply to you. Please consult with your tax, legal, insurance or financial planning representative before making any changes.

Lauren Zangardi Haynes CIMA®, CFP® Financial Advisor in Richmond, VA and Williamsburg, VA

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