At Logi Bear (pronounced like Yogi Bear) we’re committed to providing mobile apps that provide both utility and fun
The TAX IMPACT App allows you to quickly assess the impact to 2018 - 2025 federal income tax liability due to the tax law enacted December 2017.
The utility provides the ability to create tax profiles for "what-if" scenarios for individuals and for unique client analysis for tax professionals. The results of any profile analysis can be emailed to the address of your choosing.
Congress passed the Tax Cuts and Jobs Act that makes a number of changes to the individual tax code. This tool takes the following changes into account: Filing Status Tax Brackets for ordinary income, Capital Gains, Personal Exemptions, Alternative Minimum Tax (AMT), Child Tax Credit (CTC), and the Earned Income Credit(EIC).
While the AMT is part of this analysis, fully calculating the AMT would require significantly more inputs and questions, so a simplified AMT is calculated. The simplified AMT will provide enough insight to the relative change from the old tax code to the new tax code.
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