That all depends on what you make. If you’re at the top-most bracket, congratulations! When you file your 2018 taxes, you will see a remarkable drop in how much you have to pay. If you opened or own a business, you’ll see some major changes as well, but those have yet to be seen as good or bad by anyone.
That said, the average taxpaying citizen probably won’t see a lot of changes for the 2018 filing season. There are still seven tax brackets. The percentages for the bottom percentages have stayed the same. Exemptions haven’t changed much, nor have deductions. For more information, you should do your research. There’s too much to say and not enough room to say it here.
Yes, if you're the owner of a large company or have been paying tax at the top rate in previous years. Otherwise probably not. Trump originally intended to cut the tax brackets from seven to four, but for various reasons it is still seven.
Now the rates are 12, 25, 35 and 37% with the latter a considerable reduction for the highest tax payers. Are you an ordinary worker? Single or married, you'll be paying double the standard deduction and there's now no personal exemption. You could always change country...
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