After last night's initial pass, reading through the Tax Cuts and Jobs Act legislative text in deeper detail today. Full write-up coming to Nerd's Eye View blog on Monday morning.
In the meantime, will be sharing some (threaded) highlights here...
In the meantime, will be sharing some (threaded) highlights here...
Original Tax Reform proposal from President Trump would have narrowed from 7 tax brackets down to 3. The House GOP proposal would have kept 4 brackets (plus a 5th phase-out bracket of 45.6% for upper income folks).
Final TCJA keeps the 7 tax bracket structure, but trims rates.
Final TCJA keeps the 7 tax bracket structure, but trims rates.
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