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.

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