The Effects of Tax Reform on Bob & Jane's Family

  

2018 Tax Liability Decrease $2,857

If Bob and Jane each claim 0 on their W4, their 2018 tax REFUND will be $569 MORE than 2017.

  • In 2017, their employers withheld federal taxes of $108 each week, totaling $11,232. 

  • In 2018, their employers will withhold federal taxes $86 each week, totaling $8,944.

  • Bob and Jane will each take home an additional $22 per week.

  • Their 2017 joint tax liability is $8,336.  

    • Because they withheld $11,232, they will receive a refund of $2,896.

  • Their 2018 tax liability will be $5,479.

    • Because they withheld $8,944, they will receive a refund of $3,465.

If Bob and Jane each claim 1 on their W4, their 2018 tax REFUND will be $881 MORE than 2017.

  • In 2017, their employers withheld federal taxes of $95 each week, totaling $9,880. 

  • In 2018, their employers will withhold federal taxes $76 each week, totaling $7,904.

 

  • Bob and Jane will each take home an additional $19 per week.

  • Their 2017 joint tax liability is $8,336.  

    • Because they withheld $9,880, they will receive a refund of $1,544.

  • Their 2018 tax liability will be $5,479.

    • Because they withheld $7,904, they will receive a refund of $2,425.

If Bob and Jane each claim 2 on their W4, their 2018 tax REFUND will be $985 MORE than 2017.

  • In 2017, their employers withheld federal taxes of $85 each week, totaling $8,840. 

  • In 2018, their employers will withhold federal taxes $67 each week, totaling $6,968.

 

  • Bob and Jane will each take home an additional $18 per week.

  • Their 2017 joint tax liability is $8,336.  

    • Because they withheld $8,840, they will receive a refund of $504.

  • Their 2018 tax liability will be $5,479.

    • Because they withheld $6,968, they will receive a refund of $1,489.

If Bob and Jane each claim 4 on their W4, they will PAY IN $1,609 LESS than 2017. 

  • In 2017, their employers withheld federal taxes of $60 each week, totaling $6,240. 

  • In 2018, their employers will withhold federal taxes $48 each week, totaling $4,992.

 

  • Bob and Jane will each take home an additional $12 per week.

  • Their 2017 joint tax liability is $8,336.  

    • Because they withheld $6,240, they will owe an additional $2,096.

  • Their 2018 tax liability will be $5,479.

    • Because they withheld $4,992, they will owe an additional $487.

You are passionate about your business.We are passionate about your numbers.

CPA firm, Green Bay, IRS, Strive accounting, Strive tax, bookkeeping, forensic accounting, payroll tax, small business accounting, tax preparation, Green Bay WI, sales tax, financial statements, profit & loss, accountant, CPA
CPA firm, Green Bay, IRS, Strive accounting, Strive tax, bookkeeping, forensic accounting, payroll tax, small business accounting, tax preparation, Green Bay WI, sales tax, financial statements, profit & loss, accountant, CPA
CPA firm, Green Bay, IRS, Strive accounting, Strive tax, bookkeeping, forensic accounting, payroll tax, small business accounting, tax preparation, Green Bay WI, sales tax, financial statements, profit & loss, accountant, CPA
CPA firm, Green Bay, IRS, Strive accounting, Strive tax, bookkeeping, forensic accounting, payroll tax, small business accounting, tax preparation, Green Bay WI, sales tax, financial statements, profit & loss, accountant, CPA
 Our primary goal as a trusted advisor is to be available and to provide insightful advice to enable our clients to make informed financial decisions.

Continually striving for accuracy, excellence and the highest level of integrity.

Strive Tax & Accounting, LLC

CPA's specializing in small business tax and accounting with emphasis in construction and manufacturing for corporation and passthrough entities.

PO Box 28353

Green Bay, WI 54324

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