72 • RU BY, WILD ING & SWANSBURG It won’t surprise you to learn that your fellow savers often give the same answer: Up. w h y I yhooupre ttahxee ps r me vi igohut s rci hs ea pitne rtsh he afvuet umr ea d(eh ye ol l uo , t ht ri inl lki oanbso uo tf dyooullrartsaxiensnmeiwghdterfiisceit. spending). Now, let’s think about how Here are three potential ways Congress could impact your taxes in retirement: #1 | Changes to your tax bracket. As I previously discussed, for many savers it’s unlikely yi nocuormf ue .t uI rf ey toaux wb raanctk et ot s mwai liln bt aei nl o wy oeur r blei fceasut syel e y, ocuh anneceeds l ae rs es ymoaui’nlltaminayinotuarintaxyoburraciknecto. me, which means you’ll generally But, the amount of income you report is not the only wi nac yo myeo sutra ytsa sxt ebardayc, kbeut t tchaen b cr ha caknegtes. c Th ahne g eo tahreoru nwd ayyo?u . Y o u r This happened in 2017, when Congress passed (and the President signed into law) the Tax Cuts and Jobs Act. 27 TA hmi se r ilceagni ssl,amt i oy ns e llfoiwn celruedde dt.aAx n db rnaoc wk e, tC or na tgerse s fsoirs dme ibl lai toinnsg aonf et hxet emn saitolno wt oe r trhaot esse f obrr ascekveetr arl emd uo rcet i oyne as ,r sptoot ec onmt i ael.l y k e e p i n g
27 jobIRs-Sa.cgto-va.-cMoamyp3a1r,is2o0n2-2fo. rh-tbtpuss:i/n/ewsswesw.irs.gov/newsroom/tax-cuts-and-
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