Everything you need to know about how the new Trump tax plan could affect you

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trump tax reform effect taxes Jonathan Ernst/Reuters Tax reform will affect Americans in different ways.

  • President Donald Trump's new tax plan could go into effect soon.
  • There's been a lot of confusion about how tax reform might affect regular, everyday Americans.
  • We put together a number of guides answering all of your questions.

There's a lot of confusion around the Republican's new tax plan.

Even the congressmen writing the bills have made some errors .

But as Republicans get closer to passing tax reform, it's worth shedding some light on how this will affect regular, everyday people.

Business Insider has put together a number of guides explaining the differences between the House and Senate proposals, how tax reform could affect people of various incomes, and how tax brackets might be changing.

To make it easier for readers, we've wrapped all of them up below:

How the tax plan could affect taxpayers based on income

We estimated how the proposed changes by the House and Senate would change taxes for people earning different salaries.

Potential changes to tax brackets

Both the House and Senate have proposed changes to the federal tax brackets. We break it down below.

Differences between the House and Senate plans

There are several crucial differences between the two proposals - and they could affect regular people differently.

Questions you might be afraid to ask about tax reform

A closer look at the details in Trump's tax plan

We'll keep updating this list as more information comes to light. In the mean time, i f you have any questions about taxes or the House and Senate proposals that we have not answered, shoot us an email at yourmoney@businessinsider.com. No question is too small.

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