PORTLAND, Maine (NEWS CENTER) -- Senator Susan Collins claimed certain benefits people would receive under the new tax laws in 2018 in an op-ed to the Portland Press Herald Wednesday.
Sen. Collins mentioned three scenarios:
1. A single mother of one child who earns $35,000 will be getting back nearly $1,100.
2. A couple in Maine with no children, earning $60,000, will see their taxes fall by more than $900.
3. And a couple with two children earning $60,000 will get a tax cut of about $1,700.
Certifed Public Accountant Eric Purvis works for Dawson Smith Purvis & Bassett. He crunched the numbers Thursday and said that those scenarios are accurate, and that people matching those descriptions would see those savings.
However, he said the scenarios do not take into account itemized deductions, such as paying property or excise taxes on cars, which change the numbers.
"Those are very specific scenarios, and not everyone falls under those scenarios, so not everyone is going to see those tax savings," said Purvis. "That doesn't fit the fact pattern for a lot of taxpayers. People who own their homes are going to deduct their home mortgage interest, they're going to deduct property taxes, the real estate taxes that they pay. Those people are not the people in the examples that Susan Collins laid out."
He said Collins' examples are factually correct, but wants people to understand what could change their savings, despite falling under one of those examples.
Purvis said the biggest influences on a person's tax savings are:
► The decreased tax rate
► The doubling of the child tax credit (increasing from $1,000 per child to $2,000 per child)
► The loss of the personal exemptions
► The new $10,000 cap on income tax and property tax deductions
Purvis said someone who used the itemized deductions in the past could have ended up with lower taxable income than those who had used the standard deduction.
"In the past, that might have been a sizable deduction for a lot of taxpayers. Going forward, that's only going to be $10,000 dollars," said Purvis.
Purvis said he has not yet come across a situation where a person could pay substantially more in taxes under the new plan, and said if anything, it's a wash. He said in many cases, people will benefit from the changes.
"I think with the decrease in the tax rate and the increase in the standard deduction, many taxpayers are going to benefit from this tax change," said Purvis.
He said everyone's situation is different depending on income and other taxes they pay.