With all the new tax changes coming, you might be wondering when they will come into effect.
The new tax bill came into effect on January 1st, 2018. Therefore, any income you earn starting on January 1st, 2018 will be under the new bill and taxed at the new rates. The changes, however, do not apply to your wages earned in 2017, and your 2017 tax return (that you are filing this year,) will be taxed at the old rates according to the old bill.
If you have any questions about this, please give us a call at 813-514-8273 and we would be more than happy to answer your questions or schedule an appointment for you to meet with one of our tax professionals.