Binder – Table of Contents – Tax Tables

 

Level 3 Table of Contents

Level 2 Table of Contents

2021 Tax Table

2021 Standard Deduction

 

 

 

 

Keep in mind that if and when you withdraw that money from the IRA, the withdrawn amount is 100% subject to income tax at whatever the prevailing income tax rates are at that time.

As for when to take money out of your IRA if you’re looking to protect it using the Living Trust Plus®, please keep in mind that as a result of the Tax Cuts and Jobs Act (TCJA) that was signed into law on Dec. 22., 2017, the top income tax rate fell from 39.6% to 37%, while the 33% bracket dropped to 32%, the 28% bracket to 24%, the 25% bracket to 22%, and the 15% bracket to 12%. The lowest bracket remained at 10%, and the 35% bracket was also unchanged. However, these changes are temporary, set to expire at the end of 2025.

2016 Tax Rates

Current Tax Rates

2026 Tax Rates

10%

10%

10%

15%

12%

15%

25%

22%

25%

28%

24%

28%

33%

32%

33%

39.6%

37%

39.6%

Of course, no one knows what tax rates will be in the future, but it’s important to understand that income tax rates are currently at their lowest in our country’s history.

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