“In the coming years, I’m going to do better in my earnings because of the corporate tax cut,” he said. “Yet the near term is I’m going to have to pay more.”

The biggest source of pain in the tax bill is its limits on deductions. It eliminates the deduction for unreimbursed employee expenses, for example, and caps at $10,000 the deduction for local and state taxes. Homeowners can still deduct mortgage interest, but the cap for new loans would be $750,000, down from $1 million. The median asking price for a resale home in Manhattan is almost $1 million.

Nationally, affluent Americans will fare well under the bill inching toward final passage. According to an analysis by the Tax Policy Center, the biggest beneficiaries in 2018 would be taxpayers in the 95th to 99th percentiles, earning $307,900 to $732,800. The group’s after-tax incomes would rise an estimated 4.1 percent next year, compared with 2.2 percent for the average taxpayer.

But Manhattan’s army of salaried financial professionals are in a niche where the benefits thin out.

They’ll still get goodies such as a higher threshold for the alternative minimum tax, and a drop in the top marginal rate to 37 percent from 39.6 percent. But, along with losing key deductions, they’re explicitly barred from a new 20 percent tax deduction aimed at business owners. Like doctors, lawyers and other service professionals, they can only get the full pass-through break if they own their own firm and earn less than $315,000 for a married couple, and half that for single taxpayers.

Considering all of that, several traders estimated they may just break even. Meanwhile, they’re at least benefiting from higher stock prices.

One hedge fund manager in Greenwich, Connecticut, said his employees gathered to determine how much the proposed limit on deducting mortgage interest might cost for a new home. They estimated people like them, with homes worth around $2 million in New York or Connecticut, would be out $700 per month.

Because the tax bill benefits business owners, some financial advisers at big firms like Morgan Stanley and Bank of America Corp.’s Merrill Lynch might fare better by striking out on their own.

“This provides a clear incentive for financial advisers to go independent,” said Louis Diamond of Diamond Consultants. “We’re hearing from a lot of clients on this; it’s just another reason why it makes a ton of sense, economically, to become self-employed.”

Another -- perhaps more drastic -- option is to move away. But that’s not likely to happen, said Todd Morgan, chairman of Bel Air Investment Advisors in Los Angeles -- another high-tax area.