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Tax plan released

Broke

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The Trump/Republican tax plan details have come out https://www.cnbc.com/2017/11/02/house-republicans-unveil-tax-reform-plan.html


The positives I see:


Lower corporate rates to make our companies more competitive.
No more double taxation on foreign earned income.
Lower income tax rates for all except the highest rate.
Less tax brackets.
Higher child tax credit.
401k's are left untouched.
Elimination of the death tax.
Getting rid of the ATM.


There's more but those are the things that stood out to me.
 
401k's are left untouched is a HUGE plus in my book! I don't understand why they would get rid of ATMs... or am I understanding that wrong? lol
 
Poet said:
401k's are left untouched is a HUGE plus in my book! I don't understand why they would get rid of ATMs... or am I understanding that wrong? lol
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There is more to it than that. Just read the article on it and do a bit of extra research. A lot of what Trump is changing will benefit anyone not living off the government essentially. Bout time I say!
 
Dana said:
There is more to it than that. Just read the article on it and do a bit of extra research. A lot of what Trump is changing will benefit anyone not living off the government essentially. Bout time I say!
Click to expand...

I agree! Doubling the personal and married excemptions is a big plus too! I might not have to itemize in 2019!
 
Was there a change on dependents as well? Like if you claim your spouse, you get more money back? That would be a HUGE help to a lot of stay at home parents.
 
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