Even without tax reform there are several changes that could impact you:

Even without tax reform there are several changes that could impact you in 2018: 

Bottom Line: Who knows what the actual tax code will be in 2018. Right now the code calls for many changes as we close in on the final two months of the year. Here are a few that could matter to you even if there isn't any tax reform passed by year end:  

  • Retirement account contribution limits rise to $18,500 in 2018 

  • Tax brackets and tax penalties like the AMT- Social Security isn't the only government run program impacted by 2% in 2018. The threshold for income before you kick into the next bracket also adjusts up by 2% (meaning that if you don't earn more in 2018 you could end up paying slightly lower federal income taxes) 

  • Adjustments to limits on other deductions also are increasing (like IRA's if you're eligible)


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