Page 64 - Deductions News Today

Eliminated a number of popular tax deductions, right? some people are going to end up paying more. >> yeah. you know, going back, it really focuses on the state and local income taxes and property taxes combined. you can now only deduct $10,000 in a given year. used to be that you could deduct the entire expense. if you are in a high tax state whether its new york, new jersey, california, massachusetts, illinois, youre losing really valuable deductions. its true that the standard deduction was d...

During the presidents state of the union address, he touted that passing this tax law was for working families. he has said it over and over. by my estimation, it has always been for corporate america and it was going to trickle down. he said this was a tax cut for the middle class, for working families, why are so many people realizing theyre getting less of a refund? >> because the republicans ran a sort of stimulus program by reducing your withholding under new tables without the experience o...

You will now not file an itemized tax return and youre going to pay more. >> its not just a smaller refund. the new tax bill eliminated a number of popular tax deductions and were hearing that theres a lot of people out there who could end up paying more. lets walk through those deductions and why this could be the case. >> one of the most important ones is the elimination of miscellaneous deductions, if you were a police officer, you could deduct the cost of your uniform, your gun, your night s...

Recent years, donalds income on the front page on his tax return was less than $500,000 because he got a peculiar tax benefit new york homeowners like me get if you make less than $500,000. and hes got an explanation for it. whats likely to show up is improper deductions. donald was tried twice for income tax fraud in civil trials. he lost both of them. one of the judges wrote a scathing kcritique which is in y book "the making of donald trump". >> thanks for joining us today. the first step fro...

After last years tax law capped deductions. the "wall street journal" reports new data suggests a jump in florida home sales by buyers from high tax states like new york and new jersey. according to zillow, home values in lower tax areas have been rising faster than in high tax states like jersey and new york where limiting the ability to e deduct high state and local taxes eroded some of the savings from the federal tax reductions. papa johns has a plan to turn itself around with new board me...

Society, lets start with the most successful social insurance program in the history of the world and make sure that we look at whatever tax policy changes need to be made -- maria: right. >> -- to strengthen social security. maria: well, we know, we know that the tax cut plan lowered taxes for all income levels and that the corporate rate cut was really the centerpiece of the plan. are you saying the corporate rate should not have been cut? >> im saying -- maria: should the corporate rate still...

Day lights out of us. leland: you bring up the issue of taxing the living day lights. theres this race on the left to find more and more programs to spend more and more money on and pay for it by taxing more and more. listen to some of the proposals. well get your reaction. >> could increase the taxes that people are paying who are the extremely wealthy in our communities, foe 70%, 80%, weve had it as high as 90%. >> what i believe is capitalism with serious rules, and that means rules where eve...

He probably didnt pay any or much. with the deductions hes got and most of his returns have probably been shown as attempts to get credits or deductions or whatever have been turned down. some people take the attitude their irs return is their first offer. i think thats trumps position and it may be his second and third offer. but theres a reason why he will not let his tax returns voluntarily release them. theres a reason he said because theyre under audit. he continues to say that. just like t...

Im not suggesting that the union organized them to do this but they called in sick. many of them didnt have much choice and i think that brought the shutdown to an end. >> i want to switch gears quickly in the time that i have left. the issue of a wealth tax thats come up with a number of democrats. alexandria ocasia-cortez, to fund a climate change plan and senator elizabeth warren campaigning for 2020, shes throwing out this proposal, new tax on those whose net worth is $50 million or more. do...

Is your own deduction? >> well, over my entire life going -- jerry, you come up with these deductions that are often right, youre going to have trouble getting people to believe them. >> right there you have corsi helping stones defense, arguing it was not collusion, maybe just attempted collusion, but then corsi hurt stone by backing up what mueller charged today, allegedly that roger stone did intend to obstruct and mislead congress >> and why did roger stone want you to lie about the podesta ...