The best time to start thinking about filing your 2016 taxes (due in April, 2017) is now, even though tax season is over three months away. If you think you are on the verge of moving up to the next tax bracket, you'll want to keep an eye on the bracket thresholds and make deductible expenditures now. Any deductions you accrue after January 1 will appear on your 2017 taxes (due in April, 2018).
The income brackets and marginal tax rates for 2016 are:
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The EFM Lawyer.