Scott Olson / Getty ImagesHere’s what people working in finance should look out for.• Senate and House Republicans must agree on a final version of their widely criticised tax plans before it can move forward.
• 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.
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
Naresuan261/ShutterstockAverage salary: $US40,220
Current tax: $US4,007
Tax under the Senate plan: $US3,196
Per cent tax cut: 20.2%
Accountants and auditors
Joe Raedle/Getty ImagesAverage salary: $US76,730
Current tax: $US12,321
Tax under the Senate plan: $US10,180
Per cent tax cut: 17.4%
Budget analysts
Andrew Burton / Getty ImagesAverage salary: $US77,170
Current tax: $US12,431
Tax under the Senate plan: $US10,277
Per cent tax cut: 17.3%
Credit analysts
Justin Sullivan / Staff / Getty ImagesAverage salary: $US81,160
Current tax: $US13,429
Tax under the Senate plan: $US11,155
Per cent tax cut: 16.9%
Operations research analysts
Average salary: $US84,340
Current tax: $US14,224
Tax under the Senate plan: $US11,901
Per cent tax cut: 16.3%
Financial examiners
Average salary: $US88,940
Current tax: $US15,374
Tax under the Senate plan: $US13,005
Per cent tax cut: 15.4%
Management analysts
Average salary: $US91,910
Current tax: $US16,116
Tax under the Senate plan: $US13,718
Per cent tax cut: 14.9%
Financial analysts
Thomas Lohnes/Getty ImagesAverage salary: $US97,640
Current tax: $US17,549
Tax under the Senate plan: $US15,093
Per cent tax cut: 14.0%
Securities, commodities, and financial services sales agents
Monkey Business Images/ShutterstockAverage salary: $US102,260
Current tax: $US18,704
Tax under the Senate plan: $US16,202
Per cent tax cut: 13.4%
Personal financial advisors
Justin Sullivan/Getty ImagesAverage salary: $US123,100
Current tax: $US24,538
Tax under the Senate plan: $US21,204
Per cent tax cut: 13.6%
Financial managers
Average salary: $US139,720
Current tax: $US29,191
Tax under the Senate plan: $US25,192
Per cent tax cut: 13.7%
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