The Trump administration recently announced the outline of a tax plan that calls for lowering the corporate tax rate and decreasing the number of personal income tax brackets. While details are few, analysts are already predicting potential impacts.
Taxes and tax reform are likely to be a major topic in the next legislative session, which begins in seven weeks. New York Governor Andrew Cuomo is relying on two separate commissions for ideas about tax changes, while progressive groups and Republicans in the State Senate are also weighing in.
WAMC's Brian Shields speaks with tax attorney and certified public accountant John Lavelle of Lavelle & Finn, LLP.
The dreaded drop off the fiscal cliff has been avoided, so what does it mean for our taxes. Before the agreement, there were dire predictions that many middle-class Americans could see their yearly tax bills go up by some three thousand dollars, if Congress and the White House did not agree on a tax and spending plan by the time the ball dropped in Times Square.