Perspective
Jan. 12, 2017
What upcoming tax proposals mean for California taxpayers
2017 will be an interesting tax year, as capital gains, itemized deductions, earned income tax rates, state tax deductions, net investment income and other tax changes abound. By Bruce Givner and Owen Kaye.
It is too early to know whether President-elect Donald Trump's income tax proposals will be enacted. His most prominent proposal is to reduce the current seven income tax brackets to three: 33 percent (single people making more than $112,500, couples making more than $225,000), 25 percent (single people making between $37,500 and $112,500, couples making between $75,000 and $225,000) and 12 percent. His plan will c...
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