Stamford accountant sees benefits in GOP tax overhaul

Posted: Updated:
STAMFORD -

Congress cleared the way to send the Republican tax bill to President Donald Trump Wednesday, signifying the first United States tax overhaul in more than 30 years.

Accountant Tony Coppola of Stamford says he thinks the biggest change is the increase in the standard deduction for taxpayers who don't itemize their returns.

Single filers can now deduct $12,000 off the top. Couples can remove $24,000.
In Coppola's opinion, the sharp drop in the corporate tax rate should allow companies to make more money and create new jobs.

"There will be more job opportunities out there for people to earn money and get better jobs," he says. "Because companies will hire more people, they will expand their businesses."

The bill will not affect 2017 taxes.

  • Connecticut PoliticsPoliticsMore>>

  • State gun laws take center stage in upcoming election

    State gun laws take center stage in upcoming election

    Wednesday, September 19 2018 5:02 PM EDT2018-09-19 21:02:32 GMT
    State gun laws take center stage in upcoming electionState gun laws take center stage in upcoming election

    The upcoming election will decide if Republicans take back control of the state capital and has many residents wondering what will happen to Connecticut's strict gun laws.

    The upcoming election will decide if Republicans take back control of the state capital and has many residents wondering what will happen to Connecticut's strict gun laws.

  • Lamont, Stefanowski face off in second gubernatorial debate

    Lamont, Stefanowski face off in second gubernatorial debate

    Monday, September 17 2018 10:29 PM EDT2018-09-18 02:29:29 GMT

    Connecticut's two major candidates for governor faced off for a second time Monday night as Election Day grows closer.

    Connecticut's two major candidates for governor faced off for a second time Monday night as Election Day grows closer.

  • Vote 2018: 23rd state Senate District

    Vote 2018: 23rd state Senate District

    Saturday, September 15 2018 12:20 PM EDT2018-09-15 16:20:13 GMT

    23rd state Senate District candidates John Rodriguez (R) and Dennis Bradley (D) participate in a debate. MORE: Connecticut Politics

    23rd state Senate District candidates John Rodriguez (R) and Dennis Bradley (D) participate in a debate. MORE: Connecticut Politics

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."