What the New Tax Bill Means for You

Under the current tax plan, you can take deductions for the taxes you pay in state and local income taxes, real estate taxes, and personal property taxes. That means less of your income will be taxed by the federal government depending on how much you pay in taxes to state and local governments.

What the new tax law means for you. December 28, 2017 *Updated as of January 2, 2018. On December 22, President Trump signed into law a major overhaul of the American tax code.

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What does the Senate tax plan mean for you? By . megan hughes. People living in high-tax cities and states like New York and. The Senate tax bill will include my SALT amendment to allow.

The U.S. Treasury reported that the bill would bring in $1.8 trillion in new revenue. It projected economic growth of 2.9% a year on average.. 2018, Trump proposed a new 10% tax cut focused on the middle class. But. What Does It Mean for You Personally?

This piece has been updated to reflect the final version of the tax bill. President Trump signed a long-awaited tax bill into law on December 22nd, a few days after it passed the Senate 51-48.

on Wednesday rolled out legislation to create a new tax credit to help. proposals to expand existing tax credits benefiting people with low and moderate incomes. The House Ways and Means Committee.

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The new tax bill passed by Congress on Wednesday and signed into law on Friday is a major coup for U.S. corporations, but a mixed bag of give-and-take for individual taxpayers, with benefits.

You can no longer deduct moving expenses under the new tax bill, unless you are a military service member moving to a new base. Sadly, this is probably the biggest bummer in the new law for those who are contemplating a move for work.

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Tips to take advantage of new tax law before 2018 What’s in Republicans’ tax plan and what it means for you. By .. ambitious and long-awaited tax bill Thursday that seeks to simplify the tax code and reduce corporate rates, the latest step as.

The Tax Cuts and Jobs Act, passed by Congress today and about to be signed into law by President Donald Trump in the next day or so, is a major coup for U.S. corporations, but a mixed bag of give.

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