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.
But as you get ready to file your tax return this year, you should prepare for some of the. The majority of the new tax law's changes went into effect Jan. 1, 2018, which means people filing their 2018 taxes in 2019 will need to take these.
The new deduction of $750,000 is a combined limit. This means interest payments on up to $750,000 of new acquisition debt are deductible and is applicable to a principal dwelling and one other residence such as a vacation or second home. Interest deductions on rental properties remain
U.S. home builder confidence retreats despite lower mortgage rates – ET RealEstate Oklahoma State Home builders association executive vice president mike means said he thinks there will be about a 5 percent increase in newly built homes. Even as lumber prices have come down for the ninth month in a row, there’s a need for land. "One of the biggest issues we have right now is there aren’t available lots," Means said.
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.
Of importance to most tax filers is the fact that the new tax law altered the federal income tax brackets, doubled the standard deduction and changed many other tax credits and deductions. The bill, originally known as The Tax Cuts and Jobs Act, didn’t have an easy journey.
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. But starting Jan. 1, car buyers will receive sales tax credit on only up to $10,000 of the value of their trade-in.
On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act. It cuts individual income tax rates, doubles the standard deduction, and eliminates .
June 2019 Talking Real Estate eNewsletter oregon legislature finally adjourns but not without political fireworks – Senators meet on the last day of the 2019 legislative session at the Oregon State Capitol in Salem on June 30, 2019..
WE’RE ENDING WITH MILLER PARK AND HOW YOU COULD. Sales Tax we are being responsible stewards of tax dollars," State Rep. Adam Neylon (R-Pewaukee) said.The bill now goes to the state.
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.