Yep, what'd it do Youtube? So, I've got some really awesome news. I know many of you guys need more money in your pockets. Well, I'm happy to inform you that the IRS just made an announcement that will mean less taxes coming out of your paychecks and more money in your bank account. That and more coming up. Hey, what's up guys? This is Eli with Build Your Tomorrow, a channel dedicated to everything and anything personal finance. We believe in spending less than we earn, saving money, paying down debt, making sound investments, but most importantly, ladies and gentlemen, we believe in investing in ourselves. So, if you are new here, consider subscribing. Before we jump into the actual IRS announcement, let me give you some context. In December of 2017, Congress passed the Tax Cut and Jobs Act. And a big part of this law is lower income taxes. Let me show you what I'm talking about. Alright guys, what this chart or this table breaks things down very nicely. On the left-hand side, we see income tax rates with the current law or I should say with the old law. So, for example, if you earned anywhere between $37,951 and $91,900, then under the old law, you would have paid 25% in income taxes. However, now we're looking at the right-hand side of the table. Under the new law, if you make pretty much the same amount of money, or if you earned between $38,701 and $82,500, then now you only have to pay 22%. So, you're paying 3 percentage points less than you would last year. That's pretty awesome. So guys, this is the story for a single filer. And take note that towards the bottom, tax reform also increased the standard deduction. So, that's very nice...
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