Tax Expert Talks Reform Proposal

taxes2-5
taxes2-5

The new federal tax reform proposal is still being reviewed by experts, but one southwest Michigan analyst tells us it looks to him like corporate rate cuts included in the plan will make big difference. Tom Austin with Austin Tax and Financial tells WSJM News the plan will allow corporate money moved overseas to be moved back with a very low tax rate.

“Bringing that capital that’s overseas back into our country, I think, is a big, big benefit for everybody here,” Austin said.

Austin tells us the details when it comes to regular folks are difficult to sort out so far. Still, he can predict a few things.

“Overall, I think that the majority of people will get some type of tax relief,” Austin said.”

Austin tells us there are some scenarios in which some people will see no tax relief, but overall, he expects the majority will. As with many things, Austin tells us the devil is in the details.