Trump Tax Plan Calculator: Will You Be Paying More Or Less Tax With The New Tax Laws

With the House & Senate passing the new tax bill and the President signing it into law on Friday, many have the simple question of whether they’ll be paying more or less with the new law.

A couple of the highlights (or in some cases lowlights) of the new tax bill include:

Will You Be Paying More or Less?

See what these new laws mean for you. MarketWatch has created a Trump Tax Plan Calculator to give you an estimate of what your tax liability will be with the new plan. Just remember, these taxes go into effect for your 2018 tax return (filing due date of April 2019)

Click Here to go to the Trump Tax Plan Calculator

For optimal results, pull out your filed 2016 tax return and input the requested totals in the tax calculator. When completed, compare the tax owed in the tax calculator with line 63 on your 2016 tax return. The tax calculator does not account for every single provision of the law but it should give you a basic idea of how it’ll affect you.


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