What the New Tax Bill Means for You

Also, the new tax law got rid of or limited a lot of deductions you take at tax time. Which means come April, you may find that you owe the.

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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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?

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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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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.

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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How will the new tax law affect workers? The first part in our new series, “Trump's Tax Cuts: The Rich get Richer,”. House Ways and means committee chairman kevin brady, R-Texas, called their new bill, “the first action in 31.. How does the tax law impact you?

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