Just days before President Trump’s “100 days” in office, he unveiled his highly anticipated tax reform outline –the “2017 Tax Reform for Economic Growth and American Jobs.” The outline calls for dramatic tax cuts and simplification: lower individual tax rates under a three-bracket structure, doubling the standard deduction and more than halving the corporate tax rate. Additional modifications include changing the tax treatment of pass-through businesses, expanding child and dependent incentives and more. Plus, both the alternative minimum tax and the federal estate tax would be eliminated. Here’s a deeper glimpse into The President’s proposed tax reform:
|Up to $75,000||12%|
|$75,000 – $225,000||25%|
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