Are Form 1120 Schedule M 3 Elimination 2019-2024

Hi everyone, the lesson here is for moneyevolution.com. In today's video, I'm going to be talking about what you can expect on your 2018 tax return if you make $250,000 a year. So, I think most of us have heard about the Tax Cuts and Jobs Act of 2017 that went into effect as of January 1st of this year. In this video, I'm going to be specifically taking about those of you that might have an adjusted gross income in that $250,000 a year range, and what you might be able to expect on your tax return when you go to file it next year in April. As we talked about in some of our videos here, there are actually two factors that determine how much tax we actually pay. The first one, of course, is the actual income tax rate that we pay across all of our levels of income. But the second one is the amount of our income that's actually subject to tax. So, we're going to get into both of these in a little bit of detail here. Let's first start off with the new tax table and how it compares to the old tax rate. One thing you'll notice is that pretty much across the board, almost all of the tax rates are actually a little bit lower by anywhere from two to four percentage points for each one of the income tax brackets. There is actually one category here, however, in the married filing a joint tax return as well as the single category, where the tax rate is actually going to be a little bit higher. So, for married filing a joint tax return, your income that's between $400,000 and about $425,000 a year will actually be taxed at 35%, compared to the old...