About 80 percent of people will see some kind of tax deduction under the tax overhaul recently passed by both the House and Senate, a local tax professional said.

“I see this (overhaul) as a pretty good thing for the middle class and for folks in this area,” said James Smith, a certified public accountant with Smith, Best & Stoneking PC of Bradford.

But the impact of the tax overhaul will vary person to person, said Jan Middlebrough, a master tax advisor and office manager for H&R Block of Bradford.

With the Tax Cuts and Jobs Act, middle-income families would see their after-tax income rise an estimated $670, according to the Tax Foundation.

Under the 2017 tax brackets and rates, a single taxpayer with $40,000 of taxable income would fall in the 25 percent tax bracket and would have a tax liability of $5,739, according to H&R Block. Meanwhile, with the 2018 tax brackets and rates, a single taxpayer with $40,000 of taxable income would be in the 22 percent tax bracket and would have a tax liability of $4,740.

A tax calculator on The New York Times website lists the following for someone who earns $25,000 to $75,000, files jointly, has no children and takes the standard deduction: A tax cut would be between $270 and $940 in 2018.

According to a tax calculator on CNN’s website, for someone making between $20,000 and $40,000 in 2017, filing jointly with no children, their taxes would decrease and after-tax income would rise 0.5 percent in 2018.

“Most tax filers will pay tax using a new tax bracket and tax rate structure. However, the tax rates remain progressive, meaning tax rates rise as income increases,” said Kathy Pickering, executive director of The Tax Institute via H&R Block’s website. “In comparison to previous tax brackets and tax rates, the new rates due to the Tax Cuts and Jobs Act are slightly lower and the brackets are generally slightly broader.”

Rates under the plan include 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent, while the rates for several years have been 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent and 39.6 percent.

Meanwhile, the standard deduction increases through 2025 with $12,000 for a single person; $18,000, head of household; and $24,000, married filing jointly.

“Because of the increase and because of changes to the rules for itemized deductions, many taxpayers who previously itemized deductions will now claim the standard deduction instead,” according to H&R Block. “This means they may not have to file Schedule A. However, taxpayers may want to continue to track their expenses so they have the information to make the comparison and choose the tax benefit with the bigger value.”

Also under the overhaul, personal exemptions would be eliminated and replaced with child credits, Smith said.

“That’s a good deal for people with bigger families and lots of children,” he said.

The overhaul raises the maximum child tax credit from $1,000 to $2,000 per qualifying child, according to H&R Block. The refundable portion of the credit would increase from $1,000 to $1,400, states H&R Block.

“That means taxpayers who don’t owe tax can still claim a credit of up to $1,400,” according to H&R Block. “The higher child tax credit will be available for qualifying children under age 17, as under current law.”

Smith said the individual mandate under the Affordable Care Act has been taken out, which required that people have health insurance.

“That’s probably a positive for everybody. They don’t have to pay a penalty for not having health insurance,” he said.

Although the tax overhaul isn’t yet the law of the land, area residents have formed an opinion on the plan.

“I’d rather give up my 3-percent tax break and have that money fund programs for children living in poverty, so they can receive health care and food,” James Heckman of Foster Township said via The Era’s Facebook page.

For Jon Jordan, he said he doesn’t understand why folks wouldn’t want more take-home pay.

“Anything else is just stupid to say. I don’t care who gets what tax rate,” he said. “The rich pay the most taxes anyway so it makes sense that overall they would save the most money. But everybody will get more take-home pay.”

Brian Bond said he has been in the workforce since the 1980s, and the current tax plan never worked out for him.

“So why not try something else? I’ve never seen a poor man create jobs or sign my paycheck so why not give it a try?” he said.