Page 67 - Deductions News Today

In an attempt to justify the slaughter, the nigerian army posted a since deleted video on its twitter page titled please watch and make your deductions. a nigerian army spokesman confirmed the purpose of the tweet saying we released the video to show that if president trump can show that rocks are as good as a rifle, who is amnesty international? so a stone is a weapon. lets get a check on your weather with bill karins. youre looking pretty good this morning. >> were surviving. interesting mar...

Lot of people. they were scared of being too bullish about how things were going. the president has been bullish and all the other issues that under cut his message. >> it was also what builds into the democratic argument here. the tax bill benefitted the very wealthy and did not do as much for the middle class and democrats finally seem to sort of win the day on that message and some of the competitive districts, particularly in california where it has the deductions issue has a big impact on p...

Taxes, you can no longer do that. you dont have those deductions anymore. donald trump took that away. and the loss of those deductions means an increase in your annual tax bill of tens of thousands of dollars. and if youre one of americas regular rich people like, you know, a millionaire, a person who makes a million or a couple of million dollars a year, you got a huge tax increase of hundreds of thousands of dollars a year because of what donald trump did to the deductibility of state income ...

His businesses. he warned us he loved not paying those debts and now he is the king of debt in government, and hes not going to pay those debts either. taxpayers are eventually going to pay those debts, and that doesnt feel like winning for trump voters. so donald trump kaernt tacant t the national debt now. donald trump cant campaign as a tax winner for the super rich because most of donald trumps supporters didnt get in that tax cut. they cant feel it. and for many it was a big tax increase. i...

Dow rose 400 points. 6% at one point on thursday. s&p up 1.9%. stocks bounced back after the drop on wednesday to send the nasdaq in correction. it hasnt fallen in a straight line. that is volatility. huge stelloffs have had huge gains. a housing market issue. marge rates are rising and the new tax law nails homeowners in big tax states. sales of new single family homes fell 13.2% last month. home sales in the northeast fell by 40%. new home sales down 40%. a provision in the tax cuts and jobs...

This is about money. and a lot of money. and you what happens to our deficit. you already found out that our deficit is going up 17% to $779 billion. another tax cut, would just push that further. right? we would just owe more money at the end of the day. as you were mentioning in the break, who is going to support this? is the far right wing of the party going to support this? they dont like deficits. liberals, democrats arent going to support anything from trump. how do this advance? >> shepar...

Deductions they used to get and other things. loophole closings, not so much. i think thats been overdone. but this is a huge change in the law of which about 80% of the benefits go to the 1% and half of them to people who make $2 million a year and up. thats a one and a thousand best-off families in america. >> this deduction for real estate loss, that was very much protected. that was not touched. >> absolutely. absolutely. the real estate loss was protected and in some ways enhanced. in addit...

Jared kushner could have not paid income tax for years, thats according to this new "new york times" reporting. it does come on the heels of that incredible report by "the times" about the president and his family and how they skirted the tax law and maybe used outright fraud to avoid paying taxes. this is not saying that the kushners violated any laws or is fraudulent but is saying he exploited well-known tax loopholes for real estate investors. its weedy but how much does it matter that the pr...

Investors. some spending that you do on real estate can be depreciated over time and some you can depreciate immediately giving you much bigger deductions. the new tax law gave developers the ability to write off things much more quickly. that was the first big change. the other big change is real estate developers are able to sell for a profit as long as they use the money to buy another property. that benefit that exists for industries other than realization was originated in the tax law for e...

Got from somebody dealing with him financially and got a portion of his financial records. i made 1.7 million but im deducting six times that cost. >> yeah. basically the way it works for real estate investors, its advantageous, you get to take these phantom deductions for an assumed decline of the value of the building. one of the things with jared kushner and most investors is that youre not even spending any money because the money thats used to buy the building is borrowed. youre taking dedu...