Update about Trumps' Tax Reform:
Comparing The House & Senate Bills

The Senate passed the most sweeping tax rewrite in decades last Saturday, with Republicans lining up to approve an overhaul that will touch almost every corner of the United States economy, affecting families, small business owners and multinational corporations, with the biggest benefits flowing to the highest-earning Americans.
 
As there are still some discrepancies between the House version and the Senate version.  The House and Senate will now work quickly to resolve the differences between their bills and deliver a plan to President Trump’s desk, with the aim of delivery by Christmas. 
 
Among the included major changes: The reform would lower the corporate rate from 35 percent to 20 percent in 2018, and It would lower the rate for pass-through income from 39.6 percent to 25 percent.  

 

Click here to find a summary and comparison chart between both versions.

These are just some of the key issues from the tax reform. Should you have any questions or how does this affect your year-end tax planning, please feel free to contact us – info@erb.co.il