It seems likely that your taxes may be getting simpler sometime in the near future. Donald Trump would like to simplify the tax brackets, reducing them from 7 down to 3.
President Donald Trump has proposed "massive" tax cuts for the middle class, who have seen wages stagnate and only had the hope of a higher minimum wage for hope of earning more money. Trump's tax plan calls for reducing personal income tax rates to: 12 percent, 25 percent and 33 percent. It's still not clear what may actually happen here but Steve Forbes penned an open letter today urging Trump to push ahead with lowering taxes for both personal incomes and corporate.
This may mean more money in your pocket at the end of the day if Trump sticks to his plan.