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What the New Tax Bill Means for You

This especially affects military families, and the repeal of the tax for military families also helped the bill soar through the House. employer or plan administrator to see the new options.

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.

Such has been the case for a significant number of filers this year in particular, as changes to the tax code have resulted in higher bills for some workers. And while owing a bit of money isn’t.

3 Things to Know in the Housing Market Today! 3 Things to Know in the Housing Market Today! A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative.

What the New Tax Law Means for You. The new tax bill passed by Congress on Wednesday and signed into law on Friday is a major coup for U.

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.

It's difficult to say how the recent tax overhaul will affect you because your ultimate tax bill depends on so many factors. This means the 2019.

including Pay As You Earn (PAYE), corporate tax, excise and customs duty, according to a new amendment to the Value-Added Act.

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That said, many folks are wondering what’s in the bill and how it might affect them. Here’s a recap of some of the major tax provisions in the new tax bill and how they may impact you. Lower Tax Rates and Changed Income Ranges. The bill retains the seven tax brackets found in current law, but lowers a number of the tax rates.

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.

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