• Senate and House Republicans must agree on a final version of their widely criticized tax plans before it can move forward.
ADVERTISEMENT
Here's what Trump's tax plan means for people working in finance who make between $40,000 and $139,000 a year
Business Insider breaks down what the US Senate's tax plan could mean for people working in finance.
ADVERTISEMENT
Recommended articles
• Career site Zippia broke down how the Senate tax plan could affect take-home pay in 2018 for people in various occupations.
• Business Insider looked into how the plan could affect people working in finance.
People aren't happy about the tax plans put forward by congressional Republicans.
ADVERTISEMENT
According to a recent CBS poll, only 35% of Americans approve of the Tax Cuts and Jobs Act. While the plan may increase take-home pay for most people, Business Insider's Lauren Lyons Cole reported, the increase in pocket money will be minimal for most people.
Career site Zippia provided Business Insider with data breaking down how different occupations fare under the Senate's tax plan.
Business Insider specifically looked at how financial professionals fared under the new tax plan. The estimated federal tax savings below are for a single, childless taxpayer who claims the standard deduction.
Here's a look at how people working in finance, from accounting clerks to financial managers, could see their taxes change next year if the Senate's tax plan becomes law:
Bookkeeping, accounting, and auditing clerks
ADVERTISEMENT
Average salary: $40,220
Current tax: $4,007
Tax under the Senate plan: $3,196
Percent tax cut: 20.2%
Accountants and auditors
ADVERTISEMENT
Average salary: $76,730
Current tax: $12,321
Tax under the Senate plan: $10,180
Percent tax cut: 17.4%
Budget analysts
ADVERTISEMENT
Average salary: $77,170
Current tax: $12,431
Tax under the Senate plan: $10,277
Percent tax cut: 17.3%
Credit analysts
ADVERTISEMENT
Average salary: $81,160
Current tax: $13,429
Tax under the Senate plan: $11,155
Percent tax cut: 16.9%
Operations research analysts
ADVERTISEMENT
Average salary: $84,340
Current tax: $14,224
Tax under the Senate plan: $11,901
Percent tax cut: 16.3%
Financial examiners
ADVERTISEMENT
Average salary: $88,940
Current tax: $15,374
Tax under the Senate plan: $13,005
Percent tax cut: 15.4%
Management analysts
ADVERTISEMENT
Average salary: $91,910
Current tax: $16,116
Tax under the Senate plan: $13,718
Percent tax cut: 14.9%
Financial analysts
ADVERTISEMENT
Average salary: $97,640
Current tax: $17,549
Tax under the Senate plan: $15,093
Percent tax cut: 14.0%
Securities, commodities, and financial services sales agents
ADVERTISEMENT
Average salary: $102,260
Current tax: $18,704
Tax under the Senate plan: $16,202
Percent tax cut: 13.4%
Personal financial advisors
ADVERTISEMENT
Average salary: $123,100
Current tax: $24,538
Tax under the Senate plan: $21,204
Percent tax cut: 13.6%
Financial managers
ADVERTISEMENT
Average salary: $139,720
Current tax: $29,191
Tax under the Senate plan: $25,192
Percent tax cut: 13.7%
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Offshore sportsbooks and best sports betting sites
Top 5 African cities with the most unaffordable real estate in 2024
US says it is still engaged with West African juntas
Opinion Piece: Accelerating sustainable development goals through better agricultural risk management
Zimbabwe is set to honor Russian victory with a monument
Top cross-border payment companies in Africa on recent global ranking
Studio Monkey in collaboration with Worldwide FM and Gilles Peterson launches initiative to support grassroot music communities
NexaScale marks one-year milestone with visionary initiatives empowering Africa's youth for the future of work
