A couple weeks ago, the president signed into law H.R. 1 (originally known as the “Tax Cuts and Jobs Act”). This leaves some of us wondering what the impact will be to our own tax situation.
Money Help Center has put together a Trump Tax Reform Calculator to estimate how the legislation would affect you in the 2018 tax year. The calculator appears to be keeping up with provision changes during the reconciliation process, but we consider it more of an educated guess.
OnTrajectory users may find their future effective tax rate useful. Within the PowerPlan, users can copy their current scenario and adjust the effective tax rates as a way to model the impact of the changes.
For those that want more detail on the changes, KPMG has put together an alerts page that includes a nice summary of the bill.
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