Page 71 - Deductions News Today

Questions? >> for most taxpayers, tax day 2018 wont be dramatically different than previous years, because the new law passed towards the end of tax year 2017. so the new rules kick in next year. >> one page. it may get little bit bigger, but it will simple and easier to do. >> next years filings will also finally reflect lower rates, fewer brackets, and a standard deduction nearly twice the size of this years. >> individuals will be able to deduct more against their taxable income than they wou...

Question. the taxman come, 5 days before the filing deadline and if you havent done your taxes yet you need to know about commonly overlooked deductions that may not be available next year. and they want to know when to get money back. >> take the money back. heather: lets talk about the first one, overlooked deductions. employee expenses. >> a second what a lot of people overlook. these are expenses that if you wear uniform to work every day, you can deduct that through deductible income. and t...

One you have done, the other you have not -- >> jake tapper was right the first time. tax cuts. tax cuts. not tax reform. paul ryan did not get tax reform through the house of representatives. you know who did, tip oneill, he was the last speaker of the house to get tax reform fast, he did it in 1986 with republican ronald reagan as president. he worked across party lines and lower or eliminated deductions, so the amount of revenue the federal government collect was the same amount it collected ...

Where we started the conversation with the chairman was there. the president was there. and i think there was an be a tight to make on the individual side, tax cuts for the individuals permanent. i have heard on the other side of the aisle numerous complaints publicly about the fact that those income rates are going to expire and go up and for us we should be able to come together and agree. make these tax cuts permanent, especially for the individuals across awful america. >> harris: one big is...

Deductions, going have 13 million plus people have the health care benefits that theyve had prior to when that election comes up, what are they feeling then financially back >> sandra: strengthen the economy from extra money in their pockets? basics is not what wall street does, not with the unemployment rate is. >> harris: those changes, you dont file for 2018 until next year. your filing on 17. the other things that youre talking about come into play. >> katie: i just found this idea that demo...

When people say we are not getting enough a tax cut or not benefiting, its the first tax cut we have seen in recent memory. steve: yeah. >> for a business owner, thats a big thing. so people are taking advantage of they can invest more in capital equipment. they can put up to a million dollars now and buy equipment now and get deductions for it if you own pass through businesses like an s corporation or limited liability company, have you like 20% deduction right off the top and then it comes th...

About the gridlock. they see it every day. the traffic is brutal. theyll know which projects are good. people in washington log rolling. >> not real log rolling. probably feels like real log rolling. >> youll join me tonight. my big issue is with states like new jersey, california and illinois who have so many unf d unfunded liability issues, how are they going to -- these states are cash strapped. youll see states where residents wont claim the deductions that they were going to. how will they ...

And democrats on capitol hill say it should be. senate minority leader, chuck schumer said in a statement yesterday quote - the president double standard when it comes to transparency is appalling. the rationale releasing the ninas memo transparency, vanishes when it could have information harmful to him. millions of americans are asking once about question. what is he hiding? house minority leader, nancy pelosi said quote - the present decision to block the democratic memo from release as part ...

Paycheck and $268.80 a year. thats what the republicans touted the answer is the withholding tables dont take into account the doubling of the child tax credit to $2000. that would bump up the savings. married couple earning $40,000 total income $80,000 gets an additional $22.40 and a married couple earning $250 with no kids gets an additional $296.67 semi weekly or $7,120.08 ayear. sources say the irs is further tweak those withholding tables to rereflect the child tax credit and upper income a...

What the corporate earnings are like. theyre going to start coming in a couple months. so its not that long. i just cant see it trading off 2,000 points in the next couple months just as we wait to see the impact of the tax cuts. because you remember, were taking down the corporate rate from 35 to 21, which if you add in the deductions, were talking a 19% corporate tax rate. that is pretty wild stuff. i just -- >> neil: you dont see it a problem? keep it going? >> i think its got more to go. >> ...