Tax Tips: The President Trump Effect

Your incomes taxes and President Donald Trump.

FOX’s Carole Zimmer continues our series on “Tax Tips”:

So how will President Trump affect your taxes?

I’m Carole Zimmer with your FOX News Radio Tax Tip.

President Trump has made tax reform one of his top priorities. Barbara Taibi of EisnerAmper says there will be fewer tax brackets: 

(Taibi) “Both he and the Republican blueprint are looking to reduce that from seven down to three, being 12 percent, 25 percent and a top 33 percent.”

The tax plans also include doubling the standard deduction from 6300 to 15,000 for single filers. And from 12,600 to 30,000 for married couples filing jointly. Advice from one consultant: Defer income and accelerate deductions.

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I’m Carole Zimmer, FOX News.

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