Repeat - President Trump's Tax Bill

Topic of Discussion:

Tax Summary - Senate Vs House bill

1.) Individual Tax brackets

2.) Standard or Itemized deductions

3.) Personal Exemption eliminated by both

3,) Child Tax Credit

Schedule A - Changes

1.) State  & Property taxes deduction

2.) Mortgage interest deduction

3.)  Medical

Other Tax changes:

1.)  AMT

2.) Estate Taxes

3.) Health Insurance

Business Taxes

1.) Corporate decrease, date of effect

2.)  Expensing business equipment

3.)  Lower Taxes for Pass-through entities ( Schedule C, Partnership, S-Corp)

4.) Professional services limits