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Tag Archive for tax reform packages

Tax Musings Of A Burbank CPA: How Tax Reform Will Change Some Industries And Professions

Well, the House of Representatives and the Senate have passed their Tax Reform packages, and now we will wait for the reconciliation to find out what tax laws we will have for 2018 onward.

Now let me say that the top 1% of the tax population (over approximately $465,000 a year in income) should be very happy – it seems they and large corporations are going to be getting a lot of the tax savings in this bill, whether it be reduced rates, reduction or repeal of the AMT (Alternative Minimum Tax) and reduction of the Estate Tax.  Lower income people will also get some additional tax savings.  Read more