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| Tax Bill For Dummies Tax Bill For Dummies. Peter J Reilly , Contributor I focus on the tax issues of individuals, businesses & more ... They pay some federal income tax. Thomas is divorced and remarried. I decided to go with a Q&A format. ... The Senate's Tax Cuts And Jobs Act Would Do Little For Families With Child.
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| This tax bill provision helps families save on school costs and taxes As of Monday, parents will be able to ramp up on tax savings to help cover the cost of private school. The Tax Cuts and Jobs Act has expanded the use of 529 plans – accounts that allow savers to accumulate money and pay for college on a tax-free basis – to include elementary and secondary school ... GOP tax bill lets wealthy families use college savings plans to pay tuition at private and religious ... - Salt Lake Tribune
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| 5 Last-Minute Ways to Cut Your 2017 Taxes If you're one of the millions of Americans who will lose valuable deductions in 2018 thanks to the Republican tax-cut plan, you still have a few days left to take advantage of these tax breaks for your 2017 taxes. Many folks who itemize this year won't do so in 2018, thanks in large part to the loss of many ...
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| How The Tax Cut And Jobs Act Can Help The Middle Class Retire Currently, about 45% of American households do not pay any federal income tax, and there is little in this Bill to raise that percentage. However, some potential indirect effects, such as the elimination of the personal mandate to purchase health insurance, could be felt later. By no longer requiring ...
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| Paying next year's property tax early? Don't count on it lowering your federal taxes The change in federal tax law is causing long lines at tax offices around the country. Orange County's tax office had so many taxpayers show up early Thursday that it had to add more lines and bring in the fire marshal to make sure the office didn't violate the fire code, tax administrator Dwane Brinson ...
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| Goldman Sachs Sees $5 Billion Earnings Hit Ahead of New Tax Law Goldman Sachs expects to take a $5 billion charge to its fourth-quarter earnings as a result of the tax bill President Trump signed into law last week, the bank said in a regulatory filing. It is a one-time blow for Goldman. The benefits of the bill's tax cuts — including a reduction of the corporate income tax to ... GOLDMAN SACHS: Trump's tax overhaul will wipe out $5 billion of profits in the 4th quarter - Business Insider
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| Getting a Big Break From the Tax Bill? Give It Back If you are among the majority of Americans whose tax bill will decrease next year, there are some obvious ways to put the money to work. People who are sick, indebted, or in an unstable job or relationship will need to pay the bills or save for imminent hardship. Others who are more stable but not saving ...
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| Tax bill: Here's how your county's housing market will change It may be a few years before experts can accurately assess how the new tax reform law will affect each city's individual housing market, but one thing is clear: For the first time in a century, the federal government has backed away from subsidizing homeownership as a pathway to the "American Dream.".
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| Your Complete Guide to the 2018 Tax Changes President Trump recently signed the tax reform bill into law, and it makes major changes to the U.S. tax code for both individuals and corporations. In fact, the bill represents the most significant tax changes in the United States in more than 30 years. With that in mind, here's a guide to all of the changes ...
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| IRS Issues Tax Rate Guidance for Stockpiled Foreign Income The tax-overhaul bill signed last week by President Donald Trump requires companies to pay taxes on those earnings at two discounted rates — 15.5 percent on income held as cash and cash equivalents and 8 percent for illiquid assets. Those rates apply to an estimated $3.1 trillion in earnings ...
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| Homeowners Lining Up to Pay Early Taxes Is a Sign of Blue-State Pain to Come First came the winners: America's largest corporations, calculating how a 14-point drop in the corporate tax rate would impact their bottom line. The answer: Favorably! Over the course of December, dozens of U.S. companies announced stock buybacks and dividend hikes, and a few went so far as to ...
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| Sen. Marco Rubio thinks the GOP tax plan helps corporations too much Marco Rubio says the GOP "probably went too far" in slashing the tax burden on corporations. The Florida Republican told the News-Press of Fort Myers that corporations will largely use their major tax cut to buy back shares or increase dividends to shareholders — which "isn't going to create dramatic ...
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| Netflix execs to get big salary bumps with Trump tax plan Several top execs at Netflix are poised for big salary increases thanks to President Trump's tax plan. Next year, chief content officer Ted Sarandos will get a salary of $12 million, more than his expected salary and cash bonus combined this year, the company revealed in a securities filing late Thursday.
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| Dayton residents challenge city's tax rate A group of citizens have said they don't agree with Dayton's 2018 tax rate and delivered signed petitions requesting a tax rollback election. They were delivered a full week before the deadline of Wednesday, Dec. 20. The petitions, signed by more than 500 qualified registered voters, or more than the ...
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| 'I'm a rock star': The tax bill has turned America's accountants into very popular people Congressional Republicans had ended the year by ramming through a 500-plus-page tax bill that few, if any, truly understand. (Will it really blow a $1.4 trillion hole in the deficit? Will the permanent tax cut for corporations really trickle down to regular Joes? Can somebody please explain what exactly an ...
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| Government moves to reverse controversial 'staircase tax' The Government has published draft legislation to reverse the so-called 'staircase tax' which charged thousands of businesses occupying more than one adjoining floor in a building as if they were operating as separate companies. A Supreme Court ruling earlier this year meant that hundreds of ...
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| This $2399 Tax Break Is Heading Higher in 2018 Although tax reform took away personal exemptions, it increased the standard deduction. Most importantly for families, lawmakers doubled the size of the child tax credit, which tens of millions of families use to produce substantial savings on their returns. Now, as you'll see below, even more people will ...
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| Out of Tune Tax Policy Tax incentives in general are poor public policy. They represent a costly and inefficient way to provide tax relief, leading to similar firms facing far different effective tax rates. The foregone revenue also rarely receives the same scrutiny and accountability as appropriated funds. But based on the evidence ...
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| Some customers report still being charged for soda tax after its repeal Cook County eliminated its controversial soda tax effective on Nov. 30, but officials say some retailers apparently continued to charge customers for it after that. The county has received a couple dozen complaints about businesses continuing to charge the short-lived, penny-per-ounce pop tax, said ...
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| Mixed signals on property-tax deductions have folks fuming It has been a week of bewilderment for many American taxpayers. The GOP's recent rush job to cut taxes for corporations and some regular folk also eliminated or capped many cherished tax breaks. That led to a lot of head-scratching in California and elsewhere, as citizens tried to figure out whether ...
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| Netflix gives top executives a big raise, citing new tax law Netflix Inc. said Thursday that it plans to increase the annual salary for a number of its top executives in 2018, and cited the recently passed tax overhaul for the change. Most notably, Netflix NFLX, -0.20% Chief Content Officer Ted Sarandos will earn a $12 million base salary in 2018, after bringing in a ...
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| New tax law expected to slow rise of home values, creating winners and losers The steady increase in housing prices in many of the nation's priciest markets, including the Washington region, is expected to slow in coming years, analysts say, as the Republican tax bill begins to reshape a major part of the American economy. For generations, the tax code has subsidized ...
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| No, you probably shouldn't rush out and prepay your 2018 property taxes Agonizing over whether it's worth rushing to prepay your 2018 property taxes in the waning days of 2017, to take advantage of a bigger deduction? Don't bother. Relatively few Americans can benefit from this strategy, experts say, no matter how fervently many blue-state residents want to grab every ...
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| The tax bill is a massive gift to the oil industry—that it may not want. The Republicans have reached a deal on what The New York Times calls the "most sweeping tax rewrite in decades," but the bill is also stuffed with provisions that having nothing to do with taxes. For instance, it would open up 1.5 million acres of the Arctic National Wildlife Refuge (ANWR) to oil drilling, ...
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Blue-state governors gear up for possible legal fight over GOP tax law Andrew Cuomo said Thursday that his state will consider a legal challenge to the Republican tax law — the latest blue-state leader to discuss pushing back against the massive tax overhaul. "There are serious legal questions" about the law set to take effect in the coming days, the Democrat told CNBC's ...
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GOP tax bill makes Powerball winner even richer Memo to the next big lottery winner: Hold off on claiming your winnings until January to bag an extra $4 million to $9 million, courtesy of the GOP and President Donald Trump. Prizes for the Powerball and Mega Millions lotteries have climbed past $300 million, with drawings set for Friday and Saturday.
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| Workers could lose commuter benefits under new tax plan More than three-quarters of US workers could see their commuting costs rise under the new Republican tax legislation, according to experts. That's because companies that offer their workers commuter benefits — including subsidies of monthly train passes, parking garage fees or even incentives for ...
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| Bernie Sanders to Republicans: Stop saying I support your tax bill Sen. Bernie Sanders (I-Vt.) clarified his opposition to the Tax Cuts and Jobs Act this week, after Republicans and Fox News cited him to argue that the largely business-focused legislation was a boon for the working class. Earlier in the week, Sanders watched Republicans promote only the first part of his ...
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| Colorado is using pot tax money to save programs funded by big tobacco settlement The five programs that were once tobacco-settlement funded, but for which the Marijuana Tax Cash Fund is now used in part to pay, include those that address children's literacy, mental health services for juvenile and adult offenders as well as children under the Colorado Child Mental Health Treatment ...
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| How Trump's Tax Overhaul Could Hit Big Foreign Banks Under the Base Erosion and Anti-Abuse Tax, commonly called BEAT, payments made by U.S. businesses to related companies abroad must be counted when calculating global tax liability. The law doesn't say whether the payments are counted on a gross or net basis, said Gavin Ekins of the Tax ...
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| New Utah laws: Extra hotel tax, end of car safety checks FILE - This Feb. 24, 2017, file photo, shows the Utah State Capitol, in Salt Lake City. Utah drivers in 2018 will save some money after lawmakers eliminated a required car safety check, but visitors to Utah hotels, motels and campgrounds will feel a slight pinch in their pocketbooks under a new tax.
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| We need more inheritance tax, not less Of course, the rightwing papers tell you all the money is being gobbled up by evil inheritance taxes – a typical Express headline this year was "Shock poll reveals pensioners' despair at not leaving more to children". The headline would not work so well if we replaced the word "children" with "61-year ...
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| Trying to pay your property taxes before the new tax bill? Time is running out Those who wait until 2018 to pay will be subject to the new $10,000 cap on deductions for state and local taxes that is part of the recently enacted federal tax bill, Tucker said. That means that if you typically pay more than $10,000 in property taxes a year, you'll only be able to deduct $10,000 on your tax ...
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| Tax overhaul adds to IRS challenges amid cuts The US's hastily enacted tax overhaul is set to pile pressure on a government agency already grappling with a prolonged funding squeeze and cuts to staffing. Tax experts say that the $1.5tn tax cut signed into law by President Donald Trump last week will lead to implementation and enforcement ...
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| Trump's tax plans: why liberals can smile (ironically) The last week of the year in New York was one of arctic chill, a giant penis mural and people calling in to radio shows to freak out about the Trump tax plan. All week, NPR (National Public Radio) has emitted an unremitting stream of low-level panic as New Yorkers try to come to terms with the massive ...
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| Will property tax prepayments matter in all counties? Time is running out for taxpayers eager to get a jump on their property taxes before changes recently passed by Congress kick in -- but in Cook County, office hours are being extended to give them a hand. And while Cook County Treasurer Maria Pappas said prepayments will indeed be eligible for an ...
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| Happy New Year: Utah will not hike the gasoline tax to kick off 2018 Tax is based on average annual price per gallon — and fuel remained consistently low during 2017. Happy New Year: Utah will not hike the gasoline tax to kick off 2018. (Francisco Kjolseth | Tribune file photo) Gasoline taxes in Utah will not increase for 2018, thanks to formulas based on average prices ...
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| Wall Street banks are booking big losses because of Trump's new tax rules — and they can be ... Citigroup, Goldman, and other banks are announcing multi-billion dollar writedowns because of the new tax rules that take effect next year. There are two main reasons for the losses: a provision in the plan taxing overseas profits, and a revaluation of tax assets that for some banks date back to the ...
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| Nonprofits are the unintended victims of the new tax bill In the sprint to pass tax reform by the end of the year, Congress has unfortunately delivered a major blow to our nation's nonprofit sector and the communities it serves. The tax reform bill signed into law last week provoked a spirited debate about whether the middle class or the wealthy would be the ...
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| Lowcountry nonprofits brace for impact in the wake of the new tax law But the new federal tax law may stem the tide of donations next year. That's because the Republican-sponsored tax plan doubles the standard deduction to $12,000 for individuals and $24,000 for married couples, erasing some of the incentive for the millions of Americans who itemize their deductions, ...
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House must vote again Wednesday to pass $1.5T tax bill WASHINGTON (AP) (AP)sh; Gleeful Republicans on Tuesday muscled the most sweeping rewrite of the nation's tax laws in more than three decades through the House. House Speaker Paul Ryan dismissed criticism of the widely unpopular package and insisted "results are what's going to make this ...
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| Emanuel's average income is $365000 per year, 6 years of mayor's tax returns show In his first six years in office, Mayor Rahm Emanuel made nearly $2.2 million, an average income of about $365,000 per year, according to newly released tax returns from the mayor. About $1.1 million of Emanuel's income has come from his $216,000-per-year salary as mayor, and he has made an ...
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| How Tax Reform Will Affect You It really irks me to read the headlines and all the spin in the media today about how terrible the new tax law will be for the average American taxpayer. Either they haven't read the tax reform bill, don't understand it themselves, or they have an agenda -- I can't decide. But I decided to take on the task of ...
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| Rubio Admits Corporate Tax Cuts Won't "Create Dramatic Economic Growth" Asked about the catastrophic tax bill he just voted for this month, he full-on admitted the entire thing was based on a pile of lies and not likely to grow the economy or help anyone except major corporations. Merry Christmas! "If I were king for a day, this tax bill would have looked different," Rubio told the ...
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| University Athletic Departments Discover a Nasty Surprise in the New Tax Reform Bill These monetary donations have, in the most part, been tax deductible as charitable gifts. Rich people love to make charity donations. It makes them look like good people who give back to the community. There's nothing better than looking generous while helping your alma mater get a new football ...
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| The rush is on to prepay 2018 property taxes as hundreds stampede local town halls By the hundreds, Monroe County residents lined up early at town halls across the community to prepay their 2018 town/county property taxes. By 8:30 a.m., the line at Ogden Town Hall was out the door. Around 11 a.m., a raucous cheer went up in Greece Town Hall as officials there called "number 500" ...
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| How The Tax Cuts and Jobs Act Evolved The Tax Cuts and Jobs Act that Congress passed on Dec. 22 was quite different from the tax cuts proposed by the Trump Administration last...
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| China Offers Tax Incentives to Persuade US Companies to Stay Following a tax overhaul in the United States, Beijing has announced a temporary exemption for foreign firms investing in certain sectors.
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| Rubio: GOP Tax Bill 'Probably Went Too Far' Provided by NewsCred. Sen. Marco Rubio (R-FL) said Friday that he believes the recently passed GOP tax bill did too much to help the bottom line of America's largest corporations. "I thought we probably went too far on [helping] corporations," the Florida Republican told the Fort Myers-based ...
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| Lund Tax and Accounting Lund Tax & Accounting, owned by Diane Lund, CPA, provides tax preparation services to both individuals and businesses. The accounting and tax preparation services we provide are tailored to the unique needs of each client, ensuring high quality reporting and maximized tax returns. We stay ...
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| Breakfast links: Local charities worry about losses under the new tax law Local charities are worried that contributions will drop with new federal tax law provisions. Besides the obvious places like the airport, here are the top ride hail destinations around DC in 2017. Metro looks back on the year — and says despite some hiccups, they're getting better.
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| Russia Responds to the Trump Tax Reform Russian President Vladimir Putin is also responding to the Trump Tax Reform. Putin has also taken a step to promote the repatriation of capital from abroad. He.
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| AT&T Sheds Thousands of Employees After Touting GOP Tax Plan, Giving Out Bonuses "It is not clear if the firings relate to the pending AT&T and Time Warner acquisition, or how it specifically relates to the announcement that the company was giving $1,000 bonuses to 200,000 employees in commemoration of the tax overhaul signed just before Christmas," reports Apple Insider. Slashdot ...
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CBS Accidentally Proved Working Americans Will Get Tax Cuts After Congress passed the largest tax cut in three decades, Democrats told us people would be dead in the streets and only greedy, capitalist billionaires would be left counting their money above the corpses. So CBS This Morning launched an investigation to see the total damage that will be inflicted on ...
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| Tax reform sentences to ponder Income categories are paying almost exactly the same share of federal taxes as before. Millionaires actually pay a tiny bit larger share in the new bill. That is from John Cochrane, drawing on Greg Mankiw, with the source being the […]
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| CNN Crank is Worried Americans May Vote Republican After Tax Cuts Pass "Just, ever since the tax reform was announced, or the tax overhaul, or whatever you want to call it, there have been this whole slew of companies that have come forward and saying, 'Guess what? We're going to give out bonuses, now, to our employees.' I mean, I have just a partial list in front of me, and ...
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| President Trump President Trump: 'I Know The Details Of Taxes Better Than Anybody. Better Than The Greatest CPA'. By Paul Caron. Shares. From the New York Times thirty minute interview with President Trump: "I know the details of taxes better than anybody. Better than the greatest C.P.A.".
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| Double tax agreement australia and singapore Latest double tax treaty updates for Singapore. What are double tax agreements? Double tax agreement between Australia and New Zealand; How double tax agreements affect your overseas pension The India-Singapore DTAA at present provides Australia has entered into double taxation In order to ...
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Rep. Davis introducing bill to make tax changes permanent Republican says the plan is a 'great bill' for the American people.
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| Tax backlash is coming, fueled by the Chaos agent in the WH IRS says many who prepaid property taxes may still face cap on deductions. The announcement stoked confusion surrounding one of the most controversial elements of the tax law — a $10,000 cap on deductions for state and local taxes that will disproportionately affect higher-tax, Democratic-leaning ...
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