Page 44 - Tax Bracket News Today : Breaking News, Live Updates & Top Stories | Vimarsana

That's exactly what they are doing with breakfast with friends this morning. i'm here with melissa a small business owner. first of all, you feel like the tax plan that was passed is very significant for you. >> absolutely. being a small business owner, we have three different businesses and also a farm operation. and we were just elated. i think small business people are going to see that impact the quickest more than a larger corporation. it's definitely going to effect our bottom line and help. pete: absolutely there is a looming potential government shut down. what do you make of that. >> ...

Schwartzman gave 3 million to mitch mcconnell's leadership pac. those donations, some will call them free speech. in this case, trish, i would call it approved bribery. >> trish: buying themselves a lower tax rate. we have numbers here. it's not as though it's just republicans. it's not just michigan mcconnell and paul ryan. it's chuck schumer as well. both sides. this is justth beginning of it. if you go down the list, the private equity interesting has given quite a bit of money away. why wouldn't you, ed. if you get a much better tax bracket as a result and you get to treat your income as t...

Rimmed out. so all these things are being taken away. the only thing they have left is their whiteness and that won't feed their bellies or education their children or keep a roof over their heads. >> when it comes to the tax problems. 72% of people don't itemize their deductions. they'll realize an increase in their paychecks but they'll see a decrease in their tax refunds. but that's what he had to have and the republicans had to have going into the mid terms to make an argument that they've done something in the past year. the only thing they had was gorsuch. we do know that trickle down ec...

>> we've been itemizing for 15 or 20 years, so, not being able to do so is going to be extremely challenging. >> reporter: think it means thousands for you, or -- >> my rough estimate is about $3,000, yeah. >> reporter: harold's eldest son pitching in to help his parents. >> it means borrowing some of it and almost cleaning out our savings, emergency funds. >> reporter: tonight, accountants say their offices are being flooded with questions. >> this could be the last chance they have to deduct real estate taxes. >> reporter: so, should you prepay those property taxes? experts say if you are it...

Definitely better off prepaying your property taxes. >> what if you don't live in a high tax state, should you still prepay? >> maybe. you certainly could be in a lower tax bracket next year so some advantage to prepaying this year. but remember it may not be because you are in a high tax state. you could have valuable piece of property, and high income, hand combination of income taxes and property tax that is could push you over the cap. so just don't think you are safe because you are not in california or new york. >> okay. so i asked my guy about paying taxes, my accountant, and he said yo...