Substantial Changes to the Tax Law: How Do They Affect Your 2017 Returns?

Substantial Changes to the Tax Law: How Do They Affect Your 2017 Returns? | Susan Moussi

{2:13 minutes to read} As we head into the second half of 2017, it is important to be reminded of the substantial changes to the tax law that will affect this year’s returns. Social Security The amount of time it will take for people to max out on how much of their income is subjected to Social Security has increased. Unlike the previous few years (when the maximum was $118,500), people will no longer pay into Social Security once their income exceeds $127,200—it will just take longer (and cost more) to pay it at the same 6.2% rate.

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