The Odessa Record -

Letter to the Editor: Tax Cuts and Jobs Act benefits middle America

 

August 23, 2018



To the Editor:

This is the truth about “Tax Cuts and Jobs Act” of 2017. I am a tax CPA in Spokane, Washington. This is my 52nd year in public accounting. I have read the new laws many times, and our CPA firm has written and issued a 138-page book/seminar on the Act.

We have spent more than 400 hours reading and studying the new laws.

I am an Independent voter, a Certified Public Accountant with clients of every persuasion, creed and political affiliation. When I deal with taxes, my interest is truth, not politics.

The tax cuts benefits about 95 percent of all taxpayers. The cuts take a bell shaped curve that concentrates the biggest percentages of cuts in the middle class.

We took 30 samples of three groups of 10 with annual incomes from $10,000 to $3,200,000 and computed their Form 1040 taxes for 2017 and 2018 using the new tax laws.

Our three groups were: 1. Single taxpayer, no dependents 2. Head-of-household, one dependent 3. Married couple, two dependents. Of the 30 samples, 29 had lower taxes and one had no change in tax. This tax cut benefits middle America most.

Anson Avery, CPA

Spokane

 

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