While most taxpayers get a decrease in marginal tax rates some small group of ‘married filing jointly‘ taxpayers will face higher marginal tax rates. This means that a married taxpayer with taxable income of $237,951 to $315,000 will see slightly less of a tax cut as a percentage of income compared to married taxpayers in other income brackets. This does not mean that these taxpayers will necessarily see a tax increase or decrease. The marginal tax rate is only one factor that is considered in the overall tax calculation. For further explanation see “The three basic principles of individual tax reform“.
This chart will help me gain an understanding of who is most likely to request tax planning services after the law is in effect. It looks like those married taxpayers filing jointly with total taxable income in the $400,000 to $600,000 total income range are most likely to be motivated to tackle tax planning now.