Quantcast
Channel: Tax Reform
Viewing all articles
Browse latest Browse all 526

Here's what Trump's tax plan means for people working in finance who make between $40,000 and $139,000 a year

$
0
0

Donald Trump

• Senate and House Republicans must agree on a final version of their widely criticized tax plans before it can move forward.

• Career site Zippia broke down how the Senate tax plan could affect take-home pay in 2018 for people in various occupations.

• Business Insider looked into how the plan could affect people working in finance.



People aren't happy about the tax plans put forward by congressional Republicans.

According to a recent CBS poll, only 35% of Americans approve of the Tax Cuts and Jobs Act. While the plan may increase take-home pay for most people, Business Insider's Lauren Lyons Cole reported, the increase in pocket money will be minimal for most people.

Career site Zippia provided Business Insider with data breaking down how different occupations fare under the Senate's tax plan.

Business Insider specifically looked at how financial professionals fared under the new tax plan. The estimated federal tax savings below are for a single, childless taxpayer who claims the standard deduction.

Here's a look at how people working in finance, from accounting clerks to financial managers, could see their taxes change next year if the Senate's tax plan becomes law:

SEE ALSO: Here's what Trump's tax plan means for doctors making between $184,000 and $270,000 a year

DON'T MISS: Here's what Trump's tax plan means for people at every income level from $20,000 to $269,000 a year

Bookkeeping, accounting, and auditing clerks

Average salary: $40,220

Current tax: $4,007

Tax under the Senate plan: $3,196

Percent tax cut: 20.2%



Accountants and auditors

Average salary: $76,730

Current tax: $12,321

Tax under the Senate plan: $10,180

Percent tax cut: 17.4%



Budget analysts

Average salary: $77,170

Current tax: $12,431

Tax under the Senate plan: $10,277

Percent tax cut: 17.3%



See the rest of the story at Business Insider

Viewing all articles
Browse latest Browse all 526

Trending Articles