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| The Great, Overlooked Tax Policy for Getting People to Work The Republicans' sweeping $1.5 trillion tax legislation touches nearly every part of the federal code: shifting around brackets, creating major new business loopholes, encouraging companies to move hundreds of billions of dollars back from overseas, changing how state and federal taxes interact, and ...
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| Tax Changes Could Hurt Affordability At High End Of The Housing Market Kari Pinto and her husband recently retired, and now are hoping to trade Iowa — and its harsh winters — for a state with a milder climate. But the tax bill President Trump signed into law last month has complicated their search for a new home. "Now we just have another wrinkle in trying to determine ...
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| Ironically, Weinstein Tax On Sexual Harassment Settlements May Hurt Plaintiffs Too As the #MeToo movement gained strength, many people seem shocked that settlements and legal fees are nearly always tax deductible by businesses. So the recently passed tax bill includes a Harvey Weinstein tax that denies deductions in confidential sexual harassment or abuse settlements. Notably ...
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Republicans passed their tax bill. Now they're spending $10 million to promote it. Two weeks ago, Republicans passed their massive rewrite of the federal tax code. Now a GOP group is spending millions to convince voters they will benefit from it. The American Action Network, a nonprofit group with close ties to Republican congressional leaders, is launching a $2 million round of TV ... Trump's tax bill is destined for failure, thanks to the GOP trying to get even with Democrats - USA TODAY
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| Trump's Tax Law Could Lead To Loss Of Biopharma Jobs The basic premise of President Trump's recently passed law was, as he tweeted, that tax cuts will lead to "higher growth, higher wages, and more JOBS!" As part of overhauling the tax laws, the GOP slashed the corporate tax rate from 35% to 21%, resulting in a tremendous financial break for American ...
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| Some airlines to pay bonuses to employees after tax bill DALLAS — Airlines are sharing some of their tax-law windfall with employees and Boeing, the big aircraft maker. American and Southwest said Tuesday that they will pay employees bonuses of $1,000 each, a gesture that American said would cost $130 million. Southwest also said that it exercised ...
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| New tax law is a huge win for renters For over a century, the federal tax code catered to homeowners and treated renters like second-class citizens. Homeowners have been able to deduct interest on their mortgages, home-equity loans and property taxes. Meanwhile, everyone — including renters — footed the bill for these deductions by ...
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TurboTax hilariously insists doing your taxes isn't scary I've never used TurboTax or other online tax software, so I can't speak to whether they make filing less frightening. I'm of the pen-and-paper mentality. Apparently, I'm not alone. Millennials -- the same generation that is so familiar with the digital world -- file by paper at a higher rate than those of greater ...
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| Only a small slice of corporate America has shared tax savings with workers so far The president is right: Companies poised to cash in on the tax cuts, such as AT&T, Bank of America (BAC), Comcast (CMCSA) and Wells Fargo, have announced one-time bonuses and pay raises. It's terrific news for employees, especially those struggling with years of disappointing wage increases.
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| Ripple From Federal Overhaul: Kansas Sees $75M Tax Surplus But Revenue Secretary Sam Williams warned that the December surplus resulted from some individuals making estimated personal income tax payments to the state earlier than normal. Starting next year, the federal deduction that people can claim for the state and local taxes they pay will be capped, ...
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| Get Started: IRS Warns That Tax Season Brings Security Risks Some small business owners struggle with getting their financial records organized and keeping them that way, and that makes tax filing season more difficult. SCORE, the organization that offers free advice to small companies, is sponsoring an online seminar to help owners get their books in order.
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| Here's how your tax bracket will change in 2018 The bill, called the Tax Cuts and Jobs Act, is heading to President Donald Trump's desk for a signature to enact it, though it's unclear when that will happen. The bill is set to make sweeping ... Here's how this new tax plan will change federal income tax brackets in 2018 compared with those in 2017.
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| How The Tax Cuts Could Affect Workers House Speaker Paul Ryan cited a National Association of Manufacturers survey in which nearly 54% of respondents said they would hire more people on account of the tax cut. Another corporate group, the Business Roundtable, recently polled its member CEOs and found that only 43% are planning to ...
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What you need to know about the tax law and education The new tax law's education-related changes include allowing parents to use up to $10,000 from their tax-free 529 college savings account to help pay for private or religious schools for any grade. Alyson Klein of Education Week and Anya Kamenetz of NPR explore this and other changes.
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The Next Powerball Winner Could Keep an Extra $7 Million Thanks to the New Tax Law The Tax Cut and Jobs Act will slash tax bills for most high earners in 2018. The policy was designed to help business owners who want to invest and hire workers, but lower rates also apply to lottery winners, whose prize money the IRS treats like income. While advertised as $440 million, the next ...
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| Google still exploiting tax loopholes to shelter billions in overseas ad revenue Google saved itself as much as $3.7 billion in 2016 by moving 16 billion euros between Ireland, the Netherlands, and Bermuda using infamous legal loopholes that allow it to skirt high tax responsibilities overseas, according to a report from Bloomberg. Citing regulatory filings in the Netherlands, the ...
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| Community Development Tax Credits: Damaged, but not Devastated President Donald Trump's signing of the Tax Cuts and Jobs Act Dec. 22 brought the yearlong drama concerning tax reform–and its effect on community development tax credits–to a conclusion, leaving community development advocates rejoicing in the survival of the low-income housing tax credit ...
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| BP sets $1.5 bln charge for US tax changes but sees long-term boost LONDON, Jan 2 (Reuters) - Oil giant BP will take a one-off $1.5 billion charge to adjust to new U.S. tax rules, but expects a long-term boost from the corporate-friendly tax rates, it said on Tuesday. BP's rival Royal Dutch Shell said last week it would incur a one-off charge of $2-$2.5 billion for the U.S. tax ...
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| Stocks Benefiting From Tax Reform And Then Some Speculation that reduced taxes will drive stocks is well founded. After all, it's a fairly numerical proposition. A reduction in taxes from a rate in the high 30s for some companies to 21% produces a fairly predictable increase in earnings, hence stock prices. The big debate on Wall Street is not whether tax ...
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| Tax on medical devices to resume after 2-year suspension The tax was strongly opposed by the $150 billion a year industry that produces everything from catheters to heart stents to artificial joints. In Congress, it was unpopular not only with Republicans but many Democrats from states like Massachusetts and Minnesota with large numbers of medical device ...
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| Orrin Hatch helped shape nation's judiciary, tax system, health care and more Orrin Hatch landed powerful punches in almost every big congressional fight over health care, labor, child welfare, the judiciary and tax reform. His support was often key ... For example on child care, Hatch had long supported giving only tax breaks to make care more affordable. Kennedy pushed direct ...
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| Illinois suspends Outcome Health's agreement for EDGE tax breaks The state has suspended a tax credit agreement with Outcome Health — worth an estimated $6.1 million over a decade — in the wake of allegations that the tech company misled investors and advertisers. The agreement was part of the EDGE program, short for Economic Development for a Growing ...
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| New Tax Bill Offers Unexpected Benefits to Commercial Solar Installations The commercial solar industry entered the holiday season with an unexpected policy gift from Washington. The new tax plan passed by Congress introduced two provisions favorable for commercial solar installations: a reduction in the corporate tax rate and the expansion of depreciation allowances.
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| BP sees US earnings boost from tax change; will take $1.5b one-off charge BP PLC said Tuesday that it expects recent changes to U.S. corporate taxes to boost its future earnings, but added that it will take a one-off $1.50 billion non-cash charge due ... 22 includes a reduction of the corporate-tax rate to 21% from 35% and limits on the deductibility of corporate interest payments.
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| US companies will pay billions in tax on offshore cash piles U.S. multinational companies are preparing to pay hundreds of billions of dollars in tax on profits they made overseas in the last 30 years. New American tax rules mean firms can no longer avoid paying tax on past international profits by keeping the money outside the United States. They must pay tax ...
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| Tax bill likely to slow in home prices: analysts The steady increase in housing prices in many of the nation's priciest markets is expected to slow in coming years, analysts say, as the new tax law begins to reshape a major part of the U.S. economy. For generations, the tax code has subsidized homeownership, particularly for people in the ...
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| Clobbered by new tax code, blue states — and pundits — plot their revenge As a reminder, Americans for generations have been able to deduct the amounts paid for state and local income tax, as well as property tax, from their federally taxable income. But the new law caps that amount at $10,000, making it far more expensive to live and work in those places — and conceivably ...
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| Here's how Arizona tax credits help you help others If your tax liability — the amount of taxes you owe for a given year — is less than your donation, the credit can be used only to reduce your liability to zero. You can't get an additional refund. Unused tax credits, except for donations made to the military-family funds, can be applied to future tax years, but ...
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| Chaotic Tax Reform Has Led to Revenue Loss in India These developments are eroding the effectiveness of a tax that was supposed to erase internal borders and convert India into one of the world's biggest single markets. Although the GST is expected to widen India's tax net over the medium-to-long-term, it has done short-term damage to the economy at a ...
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| Homeownership Might Get More Expensive Thanks to the New Tax Bill Turns out, the GOP tax bill signed into law last month by Donald Trump is going to have some unintended consequences on the housing market. Potential homebuyers are now wondering if they want to or can even afford to buy a home, NPR reports, and homeowners in expensive states are likely to see ...
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| Southwest to give all employees a $1000 bonus, citing tax overhaul Southwest Airlines Co. LUV, +1.28% said late Tuesday its board of directors agreed to pay a $1,000 bonus to all full-time and part-time employees "to celebrate the recent passage of the tax reform legislation." The employees will get the bonus on Jan. 8. "We are excited about the savings and additional ...
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| Manhattan real estate prices and sales fell ahead of tax changes Manhattan real estate sales and prices took a fall in the fourth quarter, and they're likely to slide even further this year after the new tax rules take effect. ... And analysts say that while sales may rebound slightly in the first quarter of 2018, the tax law — which limits the deductibility of state and local taxes ...
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California pot advocates say tax rates too high OAKLAND -- Marijuana dispensaries across California experienced long lines on the first day of legal recreational pot sales. But advocates warned the legal industry won't survive without big changes, CBS SF Bay Area reports. "I'm very happy about – thrilled really – to see the legalization of cannabis in ...
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| Como's has had nearly $1 million in state, federal tax liens since 2000 The once popular Como's pizzeria and bar in downtown Ferndale has racked up nearly $1 million in state and federal tax liens since 2000. The liens, reviewed by Crain's last week and Tuesday, provide additional insight into the problems the former hot spot faced at Woodward Avenue and Nine Mile ...
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| Tax reform to fuel US economy, stock rally in 2018 The White House forecasts that U.S. growth could reach 4% once the economy experiences the full effects of the tax reform law, and any materialized gain in GDP would be building upon an already solid foundation. In the third quarter of 2017, the U.S. economy grew at 3.2%, the fastest rate in nearly ...
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| Will California outmaneuver a new federal cap on tax deductions? SACRAMENTO — California Democrats are toying with a brash scheme to skirt a new federal cap on state and local tax deductions: Instead of paying taxes to the Golden State, Californians would be allowed to donate the money to the state's coffers — and deduct the entire sum from their federal taxes.
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| Lake County puts early property tax payments at $73 million and climbing Lake County property owners wait to prepay their 2018 property taxes on Dec. 27. An influx of interest in prepayment is the result of a tax bill approved earlier this month by Congress that will limit the amount of state and local taxes that can be claimed to $10,000 per year. (Emily K. Coleman/News-Sun).
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| Tunisia joins states pushing to escape EU tax haven blacklist Tunisia is seeking to persuade the EU to take it off a tax haven blacklist as countries around the world deploy geopolitical arguments against Europe's crackdown. President Beji Caid Sebsi has said friendly EU states led by France are helping Tunisia to fight its inclusion on the list. Mr Sebsi said ...
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Iowans cautioned about state tax impacts for college savings plans State Treasurer Michael Fitzgerald is urging Iowans to be cautious as officials review the impact of the new federal tax reform bill on Iowa 529 college savings plans, which have assets of over $5 billion held by thousands of parents, grandparents and others. Fitzgerald, a Democrat who is the state's ...
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| Tax on medical devices to resume after 2-year suspension BOSTON — While much of corporate America will enjoy a tax cut in the new year, one industry is getting a tax increase it has fought hard but so far unsuccessfully to avoid. A 2.3% excise tax on medical device manufacturers went back into effect Monday after a two-year hiatus. It was originally imposed ...
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Grassley: Tax reform is a promise kept to Iowa families Last month, Congress passed and President Trump signed into law the Tax Cuts and Jobs Act. This historic legislation reforms our broken tax code, makes filing simpler and gives a break to middle-class families and low-income earners in Iowa and across the country. The last time Congress made ...
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| Sword Of Damocles: Unintended Consequences Of Federal Tax Reform And Monetary Policy The big economic events that just took place were the passage of the Trump tax cut, the rate hike of 0.25% by the Fed with projections to make three more next year, and the ramping up of balance sheet reduction at the Fed. All will have either a dramatic new impact or will add dramatically to prior ...
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| New US tax law could impact paychecks by February NEW YORK, Jan 2 (Reuters) - The first paychecks of 2018 will be dispatched soon, but it may be weeks or months before taxpayers and payroll processors know how the new U.S. tax laws will affect your take-home pay. The Internal Revenue Service said it expected to issue guidance in January on how ...
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| Austin apartment complex plan hits speed bump with new tax law However, a key change in the recently approved federal tax bill — the corporate tax rate reduction from 35 percent to 21 percent — could put a dent in the developer's returns from the program, Karen Thigpen, county corporations project and program manager, told the Commissioners Court at its ...
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| Ex-Obama Treasury secretary: Tax cuts 'leaving us broke' "How are we going to pay for the deficit caused by the tax cut? You're going to see proposals to cut health insurance from poor people, to take basic food support away from poor people, to attack Medicare and Social Security." "One could not have made up a more cynical strategy," he added.
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| Eluding the Endowment Tax Picture a mad scramble at wealthy private colleges and universities in the days after the Republican tax reform plan passed Congress, as officials scurried to find ways to dodge or minimize the new excise tax on their endowments. With the legislation kicking in for taxable years starting after Dec.
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| Gas tax increase may again land on Missouri ballot after task force report In an 87-page report issued Monday, the 21st Century Missouri Transportation System Task Force said that the purchasing power of the 17-cent-per-gallon fuel tax had "eroded" with inflation since it was last raised in 1996. That has contributed to an inability for planners to keep pace with maintenance ...
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| Tax bill will be a 'bonanza' for lobbyists TAX BILL WILL BE A 'BONANZA' FOR LOBBYISTS: "President Donald Trump just signed into law the biggest tax overhaul in a generation, but that means more work — not less — for Washington's tax lobbyists," POLITICO's Theodoric Meyer reports. "Rather than streamlining the tax code, Republicans ...
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| Tax deduction stays in place for teachers buying classroom supplies Within all the many layers of the $1.5 trillion tax bill Congress passed last month, one seemingly insignificant element remained unchanged: a $250 deduction on taxable income that teachers can claim for the purchase of classroom supplies. But what seems small to some seems big to others. And that's ...
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| US Bancorp will spend some of tax savings on employees U.S. Bancorp, the latest big U.S. employer to react favorably to the huge federal corporate tax cut signed into law by President Trump in December, plans to raise its minimum wage to $15 for hourly employees, pay a one-time bonus of $1,000 to nearly 60,000 employees and make a one-time ...
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| How The New Tax Bill Could Change Things The federal tax laws were officially implemented on January 1st and local county auditors have been busy answering people's questions about how this affects them. "I don't know with the new tax law what's going to happen exactly," said Dave Niess, Minot Resident. With the new bill, tax deductions will ...
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| Southwest and American Airlines celebrate the GOP tax plan with $1000 bonuses for employees American and Southwest Airlines announced they will give $1000 bonuses to employees in celebration of the GOP tax plan President Donald Trump signed into law last month.
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Sen. Rand Paul on Pakistan, Hatch's retirement, tax reform Kentucky senator discusses his conversation with President Trump.
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| New US tax law could impact paychecks by February The first paychecks of 2018 will be dispatched soon, but it may be weeks or months before taxpayers and payroll processors know how the new U.S. tax laws will affect your take-home pay.
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| 2018 Tax Relief Industry Study Read the 2017 Tax Relief Industry Study and discover everything you need to know about tax debt and the companies that offer tax relief.
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| Tax Reform On Dec. 22, 2017, President Trump signed into law tax reform legislation ("the Act") that will have wide-reaching impact across all sectors of the economy. This Client Alert summarizes the following changes to the Internal Revenue Code of 1986, as amended ("the Code"), which likely will significantly ...
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| American Airlines to Distribute $1000 to Each Team Member In a letter to team members, CEO Doug Parker and President Robert Isom are pleased to announce that in light of the new tax structure and in recognition of our outstanding team members, American will distribute $1,000 to each team member (excluding Officers) at our mainline and wholly owned ...
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| Tax Reform Spurs Wave of Bonuses for American Workers Millions of hardworking Americans are already seeing benefits from tax reform.
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| 'Dutch Sandwich' Shielded 16 Billion Euros From Tax The setup involves shifting revenue from one Irish subsidiary to a Dutch company with no employees, and then on to a Bermuda mailbox owned by another Ireland-registered company. The amount of money Google moved through this tax structure in 2016 was 7 percent higher than the year before, ...
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| 3 GOP Tax Plan Winners to Buy Now – and 1 to Watch You and I both know the spoils from the GOP tax plan will go right into shareholders' pockets—so let's discuss how we can grab our piece of the action. And outsized dividends with 20% price upside to boot! It all comes down to zeroing in on companies that do 2 simple things. I'll reveal what they ...
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| Full Year Calendar View Sun, Mon, Tue, Wed, Thu, Fri, Sat. 1, 2, 3, 4, 5, 6. 7, 8, 9, 10, 11, 12, 13. 14, 15, 16, 17, 18, 19, 20. 21, 22, 23, 24, 25, 26, 27. 28, 29, 30, 31. February 2018. Sun, Mon, Tue, Wed, Thu, Fri, Sat. 1, 2, 3. 4, 5, 6, 7, 8, 9, 10. 11, 12, 13, 14, 15, 16, 17. 18, 19, 20, 21, 22, 23, 24. 25, 26, 27, 28. March 2018. Sun, Mon ...
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| Get Ready for People to Tell You How to Spend Your Tax Savings I still don't have a perfectly clear idea of how the new tax laws will affect me — I'm going to be talking to a CPA on Friday, and I predict the conversation will go along the lines of "we don't know for sure, but this is what we think…" — but the general consensus is that a lot of us might save a little money?
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| China Cut Tax Rate To 0% To Counter American Recovery And Pedophile Movement Comes Out ... China Cut Tax Rate To 0% To Counter American Recovery And Pedophile Movement Comes Out Of The Closet. Trump tax cuts force other countries to compete. The Alex Jones Show - January 2, 2018 Comments ...
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| The State And Local Tax Deduction Is Bad Policy 401(K) 2012 / Flickr. It used to be that you could deduct the taxes you paid to your state and local governments from your income for federal income tax purposes. Thus, if your gross income was $100,000, but you paid $15,000 in state and local taxes, your taxable income for federal tax purposes was ...
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| A New Year (And A New Tax Code?) A New Year (And A New Tax Code?) From the Morning Memo: Gov. Andrew Cuomo on Monday presided over the swearing in of the new Nassau County executive Laura Curran. While Mayor Bill de Blasio was being sworn in by progressive icon Vermont Sen. Bernie Sanders for a second term, and ...
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| Tax Jokes Most people find the Tax Code to be overly confusing. Even Albert Einstein said (sarcastically) that he found income tax confusing. Because of this, professionals namely CPAs and lawyers are assured that business would go on as usual since there would always be those lost and confused souls willing ...
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| Research links: tax-inefficiency Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week's links including a look at the (difficult) mathematics of market timing. Quote of the Day. "Long-short equity strategies are typically tax-inefficient, however, these strategies can be tax-efficient, ...
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| American Workers Are About to See Benefit From the GOP Tax Bill "We applaud Congress and the president for taking this action to pass legislation, which will result in meaningful corporate income tax reform for the transportation sector in general, and for Southwest Airlines, in particular," Southwest's CEO Gary Kelly said. "We are excited about the savings and ...
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| American and Southwest are Bonusing All Employees $1000 Because of Tax Reform Southwest is giving every employee $1000, giving an additional $5 million to charity and exercising options for 40 Boeing 737 MAX 8 ("15 firm orders in 2019 and 25 firm orders in 2020"). They're crediting the tax reform bill for the moves. They "deferred 23 Boeing 737 MAX 7 firm orders from 2019 ...
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| How long should you store tax records? Because of increasing technology, it would be wise to store a backup of tax records and other appropriate documents online. Having a digital copy makes not only storing but accessing and distributing these documents easier. There are a few places you can store these documents such as a CD or USB, ...
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| New Tax Audit Rules on Entities Taxed as Partnerships On January 1, 2018, new IRS rules regarding audits of partnerships become effective. These rules, adopted prior to and not part of the Tax Cuts and Jobs Act, apply to any entity or arrangement that is a "partnership" for tax purposes, which includes limited liability companies with two or more members if ...
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| 2018 Estate Tax Changes With the start of a new year and the passage of the "Tax Cuts and Jobs Act," there are important changes to the federal estate tax. Everyone should take time to understand the current and any new estate tax law and to evaluate his or her estate to determine if estate tax liability may be an issue. Photo by ...
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PREDICTION: Property Tax Lowered 30% In the Next Year, State Income Tax Will Drop 20% PREDICTION: Property Tax Lowered 30% In the Next Year, State Income Tax Will Drop 20%. Trump's tax cuts are only the first step toward making America great again. The Alex Jones Show - January 2, 2018 0 Comments ...
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| Liberty Tax Service Get directions, reviews and information for Liberty Tax Service in Greensboro, NC.
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| Analyst, Tax Reporting description. Analyst, Tax Reporting. A Norwalk area manufacturing company is seeking an Analyst, Tax Reporting. The Analyst, Tax Reporting will support the Global Tax Reporting and Compliance function. This position will add value in the area of tax accounting. Prior experience with ASC 740 a ...
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| The tanning tax and a new minimum wage: These Budget measures have just kicked in YOU MIGHTN'T HAVE noticed, but everyone got just a little bit richer yesterday when some of the budget measures outlined by finance minister Paschal Donohoe back in October came into force. As you might recall, there were very few surprises in the government's fiscal plan for the next 12 months ...
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| Can I deduct expenses to my previous tax year if I haven't done my taxes yet? If my business made $100,000 during last tax year (Jan 1 2017, Dec 31 2017), and I haven't done those taxes yet, but need to buy equipment in January of 2018, can I deduct those expenses from my 2017 filing? taxes tax-deduction ...
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| Trump tax cut to dent BP profits by $1.5bn, company warns Oil giant joins Goldman Sachs and Shell in declaring big hit in 2017 but admits controversial corporate tax cut will boost future earnings.
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