Taxing My Understanding
No matter what happens it seems Democrats and Republicans find a way to yell at each other with no common ground anywhere in sight. The same is true with the latest version of tax reform that made its way through the U.S. Senate in the early morning hours of Saturday. Democrats are on one side yelling that the plan if signed by the President will be a disaster for the Middle Class and they will be getting hit with higher tax rates. Others say small business owners that use LLC’s or S-corps pass through companies will get the short end of the deal while big companies will clean up.
Republicans say that is just non-sense. The GOP says this is a great deal for America and on Wall Street investors are very bullish on the plan that could return Trillions of dollars in profits to the U.S.
I have been breaking down the numbers and found a great site to help you figure out how it may affect you and your family. Just punch in Trump Tax Calculator and you can get to the bottom of the numbers.