Wednesday, December 27, 2017

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Daily update December 27, 2017
NEWS
When you think of the end of the year, what comes to your mind? Winter? The holidays? The start of a new year? How about...taxes? While tax season hasn't quite started, the end of the year presents the last opportunity for many ways to reduce that tax bill and otherwise save money due to the tax laws.
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If you lose your home to a fire next year, you may not be able to claim it on your taxes. The Tax Cuts and Jobs Act, the tax overhaul President Donald Trump recently signed into law, limits the extent to which filers can take a tax break for personal casualty and theft losses. Under current law, a taxpayer ...
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Among the big changes contained in the tax overhaul signed by President Trump last week is a little-remarked-upon provision changing the way inflation is calculated. The new method, using the so-called "chained" consumer price index to determine when to adjust tax brackets and eligibility for ...
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Not sure what to make of the massive tax overhaul? Don't worry, you've got some time to figure it out. While most of the changes go into effect next month — and you might see a difference in your paycheck in February — you won't file your tax return for the 2018 tax year until 2019. Some people started ...
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Yet the G.O.P.'s sole major legislative feat—the hasty passage of the bill formerly known as the Tax Cuts and Jobs Act—is proving more unpredictable than Republicans may have counted on: as Jesse Ferguson, former director of the Democratic Congressional Campaign Committee's independent ...
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That the tax plan will lower the corporate tax rate from 35 percent to 21 percent, double the threshold at which the estate tax kicks in and introduce a lower one-time rate on repatriated earnings is unsurprising. Conservative lawmakers for years vowed that such tweaks would make the country's tax code ...
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If you give to Wichita State University athletics to help get prime seats, those donations soon may no longer be tax deductible. Congress eliminated a deduction for donations to athletics funds made in connection to tickets as part of a massive tax code overhaul President Donald Trump signed Friday.
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The tax overhaul that President Donald Trump signed into law on Friday includes a complex and wide-ranging set of changes to the tax system — and has left many Americans wondering exactly how they'll be impacted when the law goes into effect at the start of next year. How big a deal is the tax law?
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Apple is likely to be a big beneficiary of the U.S. tax overhaul passed last week. The plan would lower the company's effective tax rate on its U.S. earnings, while providing an opportunity to repatriate some of its massive international cash holdings. Below we take a brief look at how Apple could be ...
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Homeowners are scrambling to prepay their 2018 property taxes in advance of the new federal cap on real estate deductions. The federal tax legislation that takes effect Jan. 1 will cap the state and local deductions on federal tax returns at $10,000. Residents who pay next year's taxes before this year ...
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DUBAI, United Arab Emirates - Saudi Arabia and the United Arab Emirates, which have long lured foreign workers with the promise of a tax-free lifestyle, plan to impose a 5 percent tax next year on most goods and services to boost revenue after oil prices collapsed three years ago. The value-added tax, ...
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The government proposes to increase income tax for the household whose income exceeds 8.5 million yen (roughly, 75,000 USD). As of 2016, the median income of Japanese household is 4.28 million yen (37,000 USD), while the average income is 5.45 million yen (48,000 USD). Those who earn more ...
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Mihir Desai, a professor of finance at Harvard Business School, breaks down the brand-new U.S. tax law. He says it will affect everything from how corporate assets are financed to how business are structured. He predicts many individuals will lower their tax burdens by setting themselves up as ...
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The just-signed Tax Cuts and Jobs Act, like all income tax laws, will reward some behaviors and penalize others. Unfortunately for nonprofits, the new rules are going to discourage charitable donations. At a time when discretionary government services are diminishing, and as deeper cuts are ...
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The lowering of the U.S. corporate tax rate from 35 percent to 21 percent will benefit most companies but it also requires them to recalculate deferred tax assets that have accumulated on their balance sheets. Bank of America Corp. will take a $3 billion charge, while Credit Suisse Group AG is at risk of ...
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In fact, some companies, such as AT&T (T) and Wells Fargo (WFC), have announced they are raising wages or offering bonuses as a result of the newly-enacted tax plan. However, some say wages won't move up significantly if workers' skills aren't up to par. If workers have more advanced job skills, ...
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The Montgomery County Council broke its winter recess Tuesday to pass a bill allowing residents to prepay 2018 property taxes, a last-minute chance for homeowners in Maryland's largest jurisdiction to mitigate the impact of a new federal cap on tax deductions. Last week, the council went back and ...
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You may have already heard about the negative numbers: Financial institutions and other companies that had near-death experiences during the financial crisis are going to have to take big charges against earnings as the value of their "deferred tax assets" -- past losses that can be used to defray future ...
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​Republican ​Rob Astorino,​ ​the outgoing ​county executive​,​ said Tuesday the county wouldn't be able to provide the required documents before the New Year's deadline. "It is just not possible for the county to issue its 2018 tax warrants to localities within the next four days for a whole host of ...
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WASHINGTON — Craft breweries are raising a glass to the Republicans' new tax overhaul: It cuts the excise tax on beer. Retailers, long saddled with heavy tax bills, will get relief. So will some high-profile names in corporate finance, led by Wells Fargo. The tax measure that President Donald Trump ...
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Residents lined up before the doors opened Tuesday at the Sacramento County Administration Building to do something people aren't normally so eager to do: pay their taxes early. Many were intent on saving money while they can. The Republican tax plan signed by President Donald Trump last week ...
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"While the preservation of low-income housing tax credits and private activity bonds avoids an immediate devastating impact on affordable housing, this bill will exacerbate our country's already yawning income inequality and will harm efforts to end homelessness and housing poverty," Yentel said.
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... but it is nonetheless significantly below the previous repatriation tax rate of 35%. Now Apple and Cook face a put up or shut up moment. Will the world's most valuable company continue to rely on the tax havens for which it has been criticized, or make good on returning the money to its home country?
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Raleigh, N.C. — The end of a year is a popular time for making donations, but those donations may be less valuable next year than this year. Under the tax overhaul signed into law last week by President Donald Trump, write-offs for charitable donations won't mean as much because a larger standard ...
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There's been a lot of speculating as to whether President Trump's tax plan will help or hurt his party next year. We'll know soon enough, so no point in leaning too far into this question, but here are things to watch for. On balance, I think they tilt against the plan's reception. To be clear, the pluses and ...
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Several of Europe's biggest banks are warning their investors to expect a multibillion- dollar hit from US president Donald Trump's tax reform, which will reduce their ability to deduct past losses against future tax bills. Barclays said on Wednesday that it expected to record a £1bn charge in its 2017 results ...
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The change in U.S. tax legislation, which is a reduction to 21 percent from 35 percent, will affect Shell's fourth-quarter 2017 results but added the "analysis of the actual impact is not yet complete." The Anglo-Dutch company said it expects to provide details of the impact of the tax reform, which is effective ...
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In this article, we will examine the impact of new US tax legislation on interest rates, inflation, forex and equities. Each of these asset classes has different sensitivities to the various elements of the tax reforms. The prospect of tax reforms has bothered investors much this year. There are benefits to ...
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Sen. Bernie Sanders was resolutely opposed to the Tax Cuts and Jobs Act. From his perch on the Senate Budget Committee, he weighed it down with rules challenges. At rallies across the Rust Belt, he warned it would speed up America's transformation into an oligarchy. Sunday on CNN, however, ...
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The government tracks prices on consumer goods — eggs, shoes, gasoline, etc. But when prices rise, people often make substitutions, like buying chicken if beef gets expensive. So economists have come up with the notion of "chained inflation" to take substitutions into account. That's the measurement ...
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Almost all the companies that responded applauded the legislation, mostly in the broadest sense and largely in corporate-speak without specifics, saying the lowered corporate tax rate would "allow" or "enhance" the ability of U.S.-headquartered companies to compete more fairly with overseas-based ...
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The new tax pan includes a $10,000 cap on the amount taxpayers can deduct in property tax and local and state income tax while nearly doubling standard deductions of $12,000 for single filers and $24,000 for married couples who file jointly. This means many people who have historically itemized to ...
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TECH giant Google is helping its own staff reduce their tax bills by giving them special classes. The firm advertised tax lessons for workers at its plush King's Cross HQ with accountancy firm PwC ahead of the January return deadline. 2. The Sun has obtained a poster advertising the workshops.
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With a massive corporate tax cut now signed into law by the president, there are some in Washington wondering why small businesses are not grateful. The public was told by the president and Republicans in Congress that wages would be increased and new jobs added by the entire business ...
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On Friday, December 22, 2017, President Donald Trump signed the massive tax bill. Formerly known as the Tax Cuts and Jobs Act – so-named because it cuts individual, corporate and estate tax rates, and the lower corporate tax rates are said to be a precursor to job creation – the bill went into history ...
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I believe the key driver for U.S. stock market growth for 2018 will be the recently passed GOP tax bill. While the recent "push higher" in the U.S. stock market has mainly been from events surrounding tax legislation, I still believe certain sectors/companies will continue to benefit as 2018 unfolds. For your ...
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This Christmas holiday, Republicans are celebrating a major victory in tax reform, but a week before it was signed into law by President Trump, the legislation hit a roadblock dear to every parent's heart. Sen. Marco Rubio threatened to vote no unless the legislation included a major increase in the child ...
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MOUNT VERNON The owner of a vacant building near Wilsons Woods is accusing city officials of unfairly denying his land tax breaks and interfering with the sale of his property. Alan Landauer and LTTR Home Care filed a $15.1 million lawsuit on Dec. 18 against Mayor Richard Thomas, the Mount ...
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President Donald Trump speaks on the phone with children as they track Santa Claus' movements with the North American Aerospace Defense Command (NORAD) Santa Tracker on Christmas Eve at the president's Mar-a-Lago estate in Palm Beach, Fla., Sunday, Dec. 24, 2017. (AP Photo/Carolyn ...
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Editor's note: Tax Watch columnist David McKay Wilson is checking with municipalities in Westchester, Rockland and Putnam about if and how property owners can prepay property taxes. This is an evolving list. Come back later for updates. Rockland county taxpayers can pre-pay their 2018 town and ...
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More than 47,000 cartons of untaxed cigarettes were seized, as were 134,000 counterfeit tax stamps and nearly $445,000 in cash. "This illicit activity not only hurts law abiding businesses, but it also places undue burdens on taxpayers due to the loss of state revenue for vital services," Cuomo said in a ...
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Some growth spurt is likely, in part because corporate tax cuts could lure some multinationals' money from overseas to be invested in the US. Yet many forecasters are skeptical a bump-up in gross domestic product will be very large. Add in predictions of larger federal deficits, and a risk for Mr. Trump is ...
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Like it or not, tax reform will soon officially be upon us. And while countless Americans will be impacted by the new laws, both for better and for worse, homeowners in particular will see a number of key changes take effect in the very near future. If you own property, here's what you can expect.
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Capital One Financial and several other banks have disclosed the charges they expect to record in the fourth quarter due to lower values on their deferred tax assets. President Trump signed a tax-cut bill on Friday, lowering the corporate rate to 21% from 35%. Banks' deferred tax assets are now worth ...
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So he's not thrilled — and neither are many universities — that the GOP's tax plan axes the deduction that can be taken on donations made to secure college sports season tickets. "It's somewhat of a shock to the schools," said the Austin Republican, whose district includes the University of Texas at ...
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Why doesn't the GOP seem to care that its tax bill will drive up the deficit by $1.5 trillion? After all, for most of its modern history, the Republican party has campaigned on controlling the debt. Many answers have been offered, some quite illuminating. Here's one that hasn't been considered, and it may be ...
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WASHINGTON (AP) — Craft breweries are raising a glass to the Republicans' new tax overhaul: It cuts the excise tax on beer. Retailers, long saddled with heavy tax bills, will get relief. So will some high-profile names in corporate finance, led by Wells Fargo. The tax measure that President Donald ...
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Elmhurst officials want to continue attracting developers and new development projects to downtown Elmhurst and are proposing a new tax increment financing district to do that. Recent downtown projects, including the six-story 160-apartment Opus project at First and Addison Avenue, the Fitness ...
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The law will not impact your 2017 taxes, which many people start filing returns for in a month or so. But it will matter for your 2018 taxes. Most provisions affecting individuals and businesses, such as new tax brackets, begin on January 1, 2018. But some provisions will kick in later. The penalty for not ...
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WEB
Reviewing and Changing Your Payment Agreement
You can view details of your current payment plan (type of agreement, due dates, and amount you need to pay) by logging into the Online Payment Agreement tool: Review/Update Your Payment Plan. You can view your current balance and payment history by viewing your tax account. Viewing your tax ...
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The Endlessness Of A Temporary Tax
Governments regularly claim that they favour tax reform. When this claim has been repeated so many times that virtually no one believes them anymore, they announce a tax reform, to show that they really mean it. They then reshuffle the existing taxes to give the appearance that taxation will actually be ...
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Prepayment of 2018 Montgomery County Real Property Taxes
Beginning December 26, 2017, you will be able to prepay a portion of your 2018 Real Property. Taxes, by using the following process only, which has been established to ensure proper processing and application of your prepayment. You may prepay 2018 taxes by completing and signing the Notice of ...
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Homeowners Rush to Prepay 2018 Property Tax Bills
Homeowners across the nation are rushing this week to prepay their property taxes for 2018 before the Republican tax law kicks in Jan. 1 and effectively raises the levy on higher-end homes.
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Tax Bill Throws Pot Shots at Democrats
Liberals have expressed concern that the GOP's tax bill hits them particularly hard.
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Charles Barkley Says 'Rich People Should Not Get Tax Breaks'
The ongoing misinformation campaign related to the GOP tax plan continued on Monday evening. During commentary on the game between the Timberwolves and the Lakers, former basketball players Shaquille O'Neal and Charles Barkley wandered into a political conversation about President Trump ...
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Actress Jenna Fischer's Tweet About The GOP Tax Plan Is Patently False
According to The New York Times, however, "the deduction — which reduces taxable income, rather than providing a dollar-for-dollar credit in a tax bill — does not yield a large return for its recipients. The most a teacher could recoup is $100, and most see a return of about $40, a small fraction of the ...
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Missing this key retirement deadline could trigger a 50% tax penalty
The last day to take your required minimum distributions from your retirement accounts this year is Dec. 29.
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Your Tax Bill
Cuyahoga County Logo Cuyahoga County Treasurer 2079 East 9th Street Cleveland, OH 44115. For Assistance, Call 216.443.7420 or. Ohio Relay Service 711 (Hearing Impaired) Real Estate Taxes For Second Half of ...
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Discounts for council tax
Your full council tax bill is based on at least 2 adults (over 18 years) living in a property. You may be able to get a discount if you live alone or if some of the people you live with do not count for council tax purposes. If you are in receipt of any discount, reduction or exemption you must tell us if you are no ...
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Assessors' Office
The Assessors are a member of the municipal finance team whose responsibilities include maintaining the property database, valuing and classifying property, committing taxes, granting abatements and exemptions, managing special assessments and betterments, and administering the motor vehicle ...
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WATCH: CNN Worries Tax Bill Will Help GOP, Hints At Conspiracy Theory
Toward the end of the segment, CNN host Alisyn Camerota brought up the recent GOP tax bill that Trump signed into law and how numerous businesses were giving their employees bonuses and raising the minimum wages at their companies because of it. Camerota then suggested that companies ...
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Bernie Sanders Admits Tax Cuts are a Good Thing. The World Might End Now.
91% of middle-income Americans will receive a tax cut. Isn't that a good thing? Let's see what Bernie Sanders has to say...
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Watch Live: Trump's Tax Reform Skyrockets New Year's Retail Sales
Mastercard has reported that Christmas 2017 was a record setting holiday season, with shoppers spending over $800 billion. A report claims the Director of the C.I.A. warned of a war with North Korea taking place within the next 12 weeks. Also, with Trump's success in his first year as POTUS, people all ...
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Tax Reform is Not Obamacare, and Democrats Won't Win Congress Next Year
Democrats are practically giddy over the passage of the Republican tax bill, which became law without a single Democratic vote. This is because they believe that they finally have a winner when it comes to electoral strategy, as polls suggest that the GOP has passed a law as unpopular at its inception ...
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Congress missed an opportunity to reform the corporate tax
The centerpiece of the new tax law is a cut in the corporate tax rate from 35 percent to 21 percent. Proponents promise the lower rate will bring jobs and investment to the United States and boost economic growth significantly.
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SEC Guidance on Reporting for US Tax Reform
SEC Guidance on Reporting for U.S. Tax Reform: SEC Staff Releases Guidance on Form 8 K Reporting for the Re-Measurement of Deferred Tax Assets and on Initial Income Tax Effects of New Tax Legislation.
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How to Plan During Tax Reform Ups and Down
To help you navigate the uneasy waters of new tax legislation, here are three tips on how to plan during the ups and downs of tax reform.
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How Will the Tax Reform Plan Affect Me in NYC?
Now that President Trump's tax reform plan was voted into law, many New Yorkers are asking, "how will this affect me?" Read StreetEasy Blog to find out.
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Pre-payment of Property Taxes
In response to questions received from taxpayers regarding prepaying property tax bills before the end of calendar ye.
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A Natural Experiment For Philadelphia's Soda Tax
Via Political Calculations blog,. The city of Philadelphia's controversial soda tax is providing a lot of material for serious scientists to evaluate the effects of arbitrarily imposing a tax on the distribution of a range of naturally and artificially-sweetened beverages. Since we're near the end of the tax's first year ...
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Another Tax Bill Update: Finish Paying Your Estimated 2017 State Income Taxes Now
The tax bill makes paying your final 2017 estimated taxes before year end a worthwhile move. For business owners, contractors, and others who may have dividends, stock gains, real estate gains and anything for which taxes haven't been withheld, consider getting payments in before 2018 begins.
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Trump engages in holiday Twitter battle with Bernie Sanders over tax law
President Donald Trump and Senator Bernie Sanders engaged in a holiday Twitter battle over the Republicans' newly-passed tax legislation which Trump signed into law on Friday. "Today, it was my great honor to sign the largest TAX CUTS and reform in the history of our country," Trump tweeted after ...
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Republican tax plan retains popular tax break for seniors (video)
CLICK HERE. The Republican tax plan signed into law by President Donald Trump on Dec. 22 retained a popular tax break utilized by senior citizens. The "Tax Cuts and Jobs Act" allows seniors to continue to take an additional standard deduction when filing their 2018 federal taxes, according to CNBC.
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Ami on the Loose: Berniacs Get Burned by Republican Tax Plan
Would Progressives support the Republican tax bill if they thought it was really a Bernie Sanders proposal? That's the question filmmaker and friend of the Freedom Center Ami Horowitz asks in his latest man-on-the-street style interview short. This time he queries passersby in New York's East Village, ...
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Actress slammed for misleading tweet about tax bill
"I can't stop thinking about how school teachers can no longer deduct the cost of their classroom supplies on their taxes…something they shouldn't have to pay for with their own money in the first place. I mean, imagine if nurses had to go buy their own syringes. #ugh," Jenna Fisher tweeted on Saturday.
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Playing the New Tax Law
Congressional leaders and Donald Trump haven't told you about this, but under the new tax law you may be in for a nasty surprise instead of some last chance tax savings on your property taxes. On the other hand, the charitably inclined have a chance to do good and save money if they act fast.
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What the New Tax Bill Means for Seniors
Ok, now that the new tax bill has been passed by Congress and signed into law by President Trump how will it affect us? Will it mean paying more or less in income tax? The answer depends on many variables but one thing is for sure. These changes don't apply until 2018, meaning that you won't have ...
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Why a vote on $800M tax credit for Plant Vogtle could come in January
This surely helped Georgia utility regulators back the embattled Vogtle nuclear project: Public Service Commission Chairman Stan Wise emailed fellow commissioners before the vote to say that House Speaker Paul Ryan promised to adopt a key tax credit that could be worth roughly $800 million.
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Tax Reform – Last Minute Planning Tips
Congress is enacting the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family and your business calculate.
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Eyes Turn Toward 2018 Tasks as Tax Reform Becomes Law
President Trump signed Republicans' $1.5 trillion tax reform bill into law, setting in motion a series of changes that companies and the IRS will need to make to put the law into action.
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High-tax counties scramble to let homeowners pre-pay property taxes
That's because the new tax bill that passed last week puts a cap on the amount you can deduct for state, local and property taxes at $10,000. Currently the deduction is unlimited. In some high-tax states like New York, New Jersey and Maryland, that means some homeowners will be paying a lot more in ...
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US Government Wastes Tax Dollars on Argentinian Clown School...
Senator Rand Paul has revealed that the U.S. government spent your tax dollars to establish and fund a clown school in Argentina.
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Bizarre LA Psychologist Sends Manure to Treasury Secretary Over Tax Bill, Compares Himself to ...
The derangement surrounding the Republicans' tax bill victory just continues to get weirder as one Los Angeles psychologist proved when he decided to send a gift to Treasury Secretary Steve Mnuchin. According to KPCC, Robert Strong decided to send a political message to Mnuchin by loading up a ...
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Liberty Tax Service
Check out Liberty Tax Service Teaching And Classroom Support's Resume. This is an example of a Education And Training Resume based in Searcy, AR - One of hundreds of thousands of resume samples.
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Quick Tax Service of 198th St
Get directions, reviews and information for Quick Tax Service of 198th St in Bronx, NY.
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Tax Cut Package Brings With It Slow Fade Out Of Production Tax Credit
(WNAX) -- The tax reform legislation approved by Congress last week does include the wind production tax credit, which is scheduled to sunset in 2019. South Dakota Renewable Energy Association Analyst Steve Wegman says he's pleased Congress lived up to their end of the bargain by choosing to ...
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The Tax Law's New Way Of Measuring Inflation Could Take A Toll On Taxpayers
Among the big changes contained in the tax overhaul signed by President Trump last week is a little-remarked-upon provision changing the way inflation is.
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