Since the election, taxes have been in the forefront of changes the Republican party has been trying to make. In previous posts, we had informed you of some of the ideas that President Trump wanted to see changed in the tax code when he took office. It has been a guessing game as to what will happen to our tax code and when it will happen. Today, we received an update of the House Of Representatives tax bill proposal. The entire tax bill has not been released, but here is a straightforward breakdown of how this proposal might affect Wisconsin taxpayers.
25%: $45,001 – $200,000 for individuals ($260,000 for married taxpayers)
35%: $200,001 – $500,000 for individuals ($1 million for married taxpayers)
A lot of these tax bill ideas coincide with some of the original proposals that we have heard over the past year. I will provide updates once we get the full bill, but these are some ideas that have been leaked. Keep in mind, nothing is happening, until the bill actually passes. Hammernik & Associates will be with you along the way to help Wisconsin taxpayers adjust to any tax law changes.
The post House Tax Bill Leaked appeared first on Talking Tax to Milwaukee.
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