posted by Yasmin
A major overhaul of the Federal Tax structure was enacted at the end of 2017, effective beginning with the 2018 tax year. This assignment consists of a calculation to gauge effects on your own situation or upon a mythical one, as well as some analysis of the pros and cons:
Part One - Calculation
1. Choose a “total income level” for a Married couple filing jointly any other reasonable amount, and also select a “number of additional dependents” for these taxpayers [in the same manner]. calculate the total taxes due for these taxpayers for 2016 and for 2018, assuming no change in income and no other deductions or additions.
3. You may show your work, as partial credit will be given in the event of mathematical errors, and report the following:
i. Total Income Level
ii. Number of additional dependents
iii. 2016 Taxes due
iv. 2018 Taxes due Part Two Analysis
Find a minimum of (2) relevant articles, written in 2018, which discuss the philosophy behind these tax changes, and/or evaluating the pros and the cons and/or the projected effects upon the economy.
Selected articles should be chosen from credible news sources (such as general circulation newspapers or general public media outlets), scholarly analyses (those written for and published by universities, including those by current economics textbook authors), or well-known established periodicals (such as Bloomberg Business Week, Journal of Economic Perspectives, the Economist, Financial Times, etc.). Personal blogs and contributory websites (such as Wikipedia) are not credible sources for scholarly work.
Summarize your findings, and any thoughts you may have on the tax restructuring.
This is your assignment. Just follow the directions.
For researching, here are some ideas:
Use Google or Bing to conduct research, and be careful which websites you use.
Here’s a webpage that helps you learn to search effectively:
Scroll down to How to Google, and keep reading. Follow those directions, using your specific instructions above.