Your Guide to Tax Brackets in 2018

The IRS recently announced the federal tax brackets for 2018, and while the seven marginal tax rates are the same, the income thresholds have increased slightly to keep up with inflation. While there's a chance that these tax brackets may change if the GOP tax reform efforts are successful, here's a guide to the current 2018 tax brackets and what they could mean to you.

First of all, it's important to discuss what is meant by a "tax bracket." Also known as marginal tax rates, tax brackets tell you the tax rate you pay on each dollar of your income.

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Source: Fool.com