Have they changed any income tax rates, or is it still just all talk? [View all]
As I am self-employed, I have to pay estimated tax for the 2025 tax year by April 15, June 15, September 15 and January 15th. So I have to make an estimated payment in the next 2 weeks.
It's complicated for me because I never know exactly how much income I will have for the year, and the income is seasonal as well. Plus I have small investments which I won't know the final income until early next year. So it's already complicated for us.
On top of that, there is all this hot air about changing the tax rates (T said he wanted no income tax on incomes under $150,000). I assume that's just more BS and that won't really happen.
Apparently as of now, the rates for the 2025 tax year are still 10%, 12%, 22%, 24%, 32%, 35%, and 37%, but the thresholds between each rate are adjusted for inflation. This is what we have to go by for this tax year?
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