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What the New Tax Bill Means for You

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?

Republicans say it’s a tax cut for the middle class. The biggest winners are the rich. Republicans claim the bill is meant to benefit the middle class, but lower- and middle-class taxpayers will receive moderate tax cuts. The wealthy, by contrast, get a massive windfall, and the corporate tax rate would nearly cut in half.

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. Trump’s New York State tax returns right here in New York State, in an office somewhere.” Both lawmakers said that the urgency of their bills had increased since last week, after a request from.

If you’re really a planner, note that currently this rule expires on Jan. 1, 2026, although who knows what might happen to it by that time. But if you moved in 2017, be sure to talk to your accountant or tax preparer about whether you are eligible for the deduction, as this new law didn’t kick in until the 2018 tax year. 2.

The House passed a new tax bill on December 20th, causing a lot of uproar and anger for many. But what exactly is in this tax bill, and what does it mean for you? The most controversial aspect of this bill is the large tax cut for corporations. While there are some tax cuts for small businesses, the majority of the cuts will go to large.

What the New tax bill means for You The enactment of the Tax Cuts and Jobs Act represents "the most sweeping overhaul of the U.S. tax code in more than 30 years." 1 For millions of Americans and businesses it means an altered financial and investment landscape with new opportunities and challenges in the years ahead.

CHICAGO (MarketWatch) — The new tax bill now on its way to President Obama for his signature will save every American from a number of tax hikes that would have begun Jan. 1 and will add more.

View this post on Instagram It’s happened – Boris Johnson, the UK’s former foreign secretary with a back catalogue of racism,

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