Trump Tax: Uncertainty Ahead

nicholas • November 11, 2016

My fellow American taxpayers,

On Tuesday night, Donald J. Trump was elected as the next President of the United States. Whether you are happy, upset or indifferent with that outcome, one thing is for certain, uncertainty with the tax code lies ahead. ‘Trump Tax’ is here. However, this is nothing new; the tax code is always evolving, it has been for the past 100 years. Just take a look at what a 1040 tax form looked like in the year 1913:

That’s right…one page. Today, some taxpayers have a tax return the size of a High School textbook. Hammernik & Associates wasn’t around in 1913, but we have been staying on top of the tax code for the last 30 years. Over that time span, there have been many overhauls, tweaks, and changes to the way you report your income tax today. No matter the uncertainty that lies ahead with your tax return, rest assured that Hammernik & Associates will use our proactive approach to keep or clients informed and prepared for possible change.

With that being said, Donald Trump wants to change your tax return. Does this scare you, or are you intrigued that his proposals might save you money?

TRUMP TAX PROPOSALS

  • Goodbye, Obamacare?
  • Tax Bracket Change
  • Standard Deductions Rise
  • Child Care Credit Increase
  • Alternative Minimum Tax (AMT) Removed
  • Net Investment Income Tax (NIIT) Removed
  • Estate Tax Removed
  • Flat Tax Rate For All Businesses

 

Do you want to find out how Trump might effect YOUR tax bill? We have put together an E-Book, “The 7 Ways Donald Trump Wants To Change Your Taxes”. You can download this E-Book on the homepage of our website, www.hammernikassoc.com .

Hammernik & Associates will stay ahead of the Trump changes, as well as any other change to the tax law. We will help you tax plan for your unique tax situation. With tax uncertainty looming, it is a good idea to ask your tax professional about our tax planning packages when you meet with them in a few months. Make Hammernik & Associates your trusted candidate for the role of tax adviser in 2017 and the future.

P.S. Milwaukee tax accountants Dale Hammernik, Dave Biskup, and Nick Hammernik will be holding  a ‘Trump Tax’ round table for a more in depth discussion of the tax proposals from Donald Trump. Stay tuned for the release of that video next week.

 

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