What the New Tax Bill Means for You

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.

You can tell he’s still sort of the scrappy guy. consovoy made similar arguments in trying to shield the president’s New.

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CORRECTION: Contributions to a 529 plan are NOT Deductible, 529 plans actually work similar to ROTH IRA, so the earnings are tax-free and withdrawal is tax-free! Learn what the new tax bill means.

What this means for you: While every little bit helps, these tax breaks are minimal and only impact a select few. High earners with large amounts of student loan debt often phase-out of the $2,500.

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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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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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.

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.