Ottawa Chamber reviews impact of Tax Cuts and Jobs Act - Hometownstations.com-WLIO- Lima, OH News Weather Sports

Ottawa Chamber reviews impact of Tax Cuts and Jobs Act

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A local CPA came out to the Ottawa Chamber monthly meeting to put the changes from the Tax Cuts and Jobs Act into perspective. A local CPA came out to the Ottawa Chamber monthly meeting to put the changes from the Tax Cuts and Jobs Act into perspective.
During the meeting, Fred Schroeder talked about the changes that took effect at the beginning of the year for individuals and businesses. During the meeting, Fred Schroeder talked about the changes that took effect at the beginning of the year for individuals and businesses.

A local CPA came out to the Ottawa Chamber monthly meeting to put the changes from the Tax Cuts and Jobs Act into perspective.

During the meeting, Fred Schroeder talked about the changes that took effect at the beginning of the year for individuals and businesses. He then focused most of his talk about what changes will go into effect as we approach 2019. Schroeder said the act, as of right now, will expire in 2025 unless Congress extends the plan. When asked what part of the tax plan would have the largest impact in the Ottawa area, only one thing came to mind.

"It's mainly just the drop in the income tax rates," Said Schroeder. "It's going to generate, hopefully, some leftover money in people's pockets. That's the biggest one."

Schroeder said the results of today's election could have some effect if these recent changes become permanent.

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