Page 77 - Deductions News Today

The postcard sham isnt going to work for them. i mean, if youre -- >> is this supposed to be tax reform where you make it easy on a postcard? >> i think there are millions of tax payers out there that that will work for them, but these are upscale voters who have deductions and they make a decent amount of money, their finances are a bit complicated. theyre going to need their accountant and its still confusing and your last guest, so i think it is going to be a challenge and this is what republ...

Prepayments may only work in limited circumstances. saying pre-payments might be deductible if, if, they are made before the end of this year. and if the tax was assessed prior to 2018. i want to bring in bradley hine, he is a former -- excuse me, economist at the treasury departments office of tax analysis, so there is a lot of confusion, brad, it is going to be up to you now to try to clarify this. first and foremost, is there kind of a one size fits all answer to taxpayers in these states whe...

A lot of the dows gains were based, it seems, on expectations that tax reform would pass, and now that its passed, i guess because theres greater corporate earnings, there might be more gains in the dow. at some point there has to be something structural this is based on. im having trouble wrapping my head around what that is. >> corporate profits were strong. its possible we would still see this kind of performance even without the tax bill. but i think just getting back to the middle class poi...

Violence across the country where there are still 15,000 u.s. servicemen and women serving there. to those homeowners rushing to pay their property taxes before the limit on state and local deductions goes into effect, the irs says slow down. the agency said the taxes need to be paid this year and assessed this year in order for homeowners to use 2017 rules. crime in the countrys 30 largest cities is down 2.7% so far this year according to the brennan center for justice. new york city hasnt ...

To save big before the new tax plan kicks in. >> reporter: long lines tonight. some braving the cold for hours as taxpayers rush to make some crucial decisions. >> come on over. >> reporter: that new tax law taking effect january 1, and with it, a new financial reality for millions of americans. from illinois to virginia, taxpayers are rushing to pay certain taxes early, to make the most of deductions that will soon disappear. >> im very upset. im upset how its going to effect the value of our h...

Charity is the perfect example. and you can still get it done, take that deduction to your chair ready, get a better tax benefit. rob: accelerate business related expenses like supplies, dues, home office. >> part of my business as well. if you are a freelancer on your own doing work or have other expenses from your employer, and supplies, going to staples, by those supplies, that you might be using this year, take the deductions that are higher. and 2-d for, into next year.

Long term and see if his l policies really work and number two, i think we have to look, for instance, at obamacare, which he wants to get rid of. even though they had less advertising and less time to enroll, over 8 million people enrolled this time. the fact is, obama policies are still working, and people might not like that, you might not like it, but the facts are the facts. >> david: well, heres a fact for you, ellen. over 80% of the people paying the obamacare penalty make under $50,000. ...

To get those unlimited deductions. a few things you need to do to make sure this is worth while for you. first of all, my suggestion is call your municipality oar go to that i website and find out even if they accept this money ahead of time. if they ked, theres probably a deadline of december 31st. make sure your check or envelope is post marked before that. keep in mind, even if you get this money in, theres no guarantee that youll be able to take these unlimited deductions, guess who its up t...

Installed. >> welcome the first of all i think that we have to look over the long term and see if his policies really work and number two, i think we have to look, for instance come out obamacare, which he wants to get rid of. even though they had less advertising and less time to enroll, its over 8 million peoe enrolled this time. the fact is, obama policies are still working, and people might not like that, you might not like it, but the facts are the facts. >> david: well, heres a fact for yo...

Can into this year to look at those deductions. property tax is the first thing, you should call your township or state, and if you look at property taxes get it done this year. the tax advantage is must tyrants go down in 2016. rob: i thought charitable contributions were separate and distinct from itemized deductions but you need to make those general contributions for 2018 because you wont get the deduction if you dont itemize in 2018. >> there are a lot of things about it. it actually -- we ...