Last week we went over the primary effects and differences between Donald Trump’s tax plan and the tax reform proposal from the House GOP. Unless you were following closely, you may have glossed over some of the specifics. Instead of a new topic this week, we put together a tax reform chart summarizing the two proposals, side-by-side.

	Trump Tax Plan	House GOP Plan
Income Tax Brackets	Condense Marginal Brackets 12%: $0-$75,000 25%: $75,000-$225,000 33%: $225,000+ Income ranges for married filers. Halved for single filers.	Condense Marginal Brackets 12%: Unspecified Range 25%: Unspecified Range 33%: Unspecified Range
Investment Tax Brackets	0% 15% 20%	6% 12.5% 16.5%
Treatment of Bond Interest	Ordinary Income	Investment Income
Medicare Surtax on Investment Income	Repeal	Repeal
Standard Deductions	Single: $15,000 Married: $30,000	Single: $12,000 Single w/Child: $18,000 Married: $24,000
Itemized Deductions	-Keep all -Cap at $200,000 (married), $100,000 (single)	-Eliminate all except Mortgage Interest & Charitable
Personal Exemption	Repeal	Repeal
Alternative Minimum Tax (AMT)	Repeal or Moot	Repeal or Moot
Expansion of Tax Code	Above the Line Deductions -Child Care -Eldercare -Dependent Care Savings Account (DCSA)	None
Dynamic Scoring (Effect on Federal Budget)	Negative	Neutral

Are You Ready to Speak with a Financial Advisor?

Once you determine that it might be time to work with a financial advisor, it’s important to find the right advisor for you and your family. We’ve put together a guide of questions that are essential to ask an advisor before you hire them.

20 Questions to Ask a Financial Advisor

Don’t make a mistake by working with the wrong financial advisor. Ask the right questions the first time to determine if a financial advisor is right for you.