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What the New Tax Bill Means for You

What’s in Republicans’ tax plan and what it means for you. By .. ambitious and long-awaited tax bill Thursday that seeks to simplify the tax code and reduce corporate rates, the latest step as.

Such has been the case for a significant number of filers this year in particular, as changes to the tax code have resulted in higher bills for some workers. And while owing a bit of money isn’t.

That means they would pay taxes on $30,400 of taxable income. Their base tax bill of $3,608 would be reduced by $2,000 in child tax credits for a total income tax of $1,608. Under the House plan, the same married couple with two children would get $3,800 in tax credits, $3,200 for the two children and $600 for the two parents.

There are several important changes seniors need to be aware of now that could affect not only their tax bill, but other items such as their health care premiums.. What the New Tax Bill Means for You.

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 · Winners And Losers Of The Senate Tax Bill. The corporate rate is reduced from 35% to 20%. Businesses will be able to immediately expense many asset purchases; after five years of 100% expensing, the rate will phase out at gradually declining rates.

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Trump Signs 2018 Defense Bill: Here’s What It Means for You. The fiscal 2018 national Defense Authorization Act, or NDAA, authorizes about $700 billion for the Defense Department, including $634 billion for the base budget and $66 billion for the war budget. The figures are targets, and Congress still faces a year-end deadline to pass an accompanying spending bill to keep the government running.

The entire law runs to 1,000 pages. But we've read it and have you covered – with calculators to help you figure out the new tax brackets and rules for mortgage.

The new tax bill passed by Congress on Wednesday and signed into law on Friday is a major coup for U.S. corporations, but a mixed bag of.

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What the new tax bill means for you. Tags: Staff Pick. 0. When Congress passed the Tax Cuts and Jobs Act (TCJA) in December, it made significant changes that affect virtually all taxpayers. Here’s how the new Federal tax code impacts deductions for individuals and small businesses.

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