Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
The Tax Cuts and Jobs Act takes effect Monday, yet there are still plenty of questions regarding how the legislation will affect West Virginians. The law, which was passed by Congress on Dec. 20 and signed into law by President Donald Trump on Dec. 22, includes changes to the individual income tax brackets, increased child tax credit and standard deduction, 21 percent corporate tax rate and how companies report foreign earnings.
Tax season is rapidly approaching and it's important to do your homework before hiring a tax preparer. Unfortunately, there is no "one size fits all" tax preparer.
It was a big year in the Illinois statehouse with lawmakers ending an historic budget impasse and approving an income tax hike, overhauling how public schools get funding and allowing automatic voter registration. The laws cover numerous topics, including the expansion of taxpayer-funded abortions, celebrating Barack Obama's presidency, allowing tax credits for private school scholarships, criminal justice reforms and a circus-related ban.
WASHINGTON There is no shortage of hyperbole in the yearend assessments of Donald Trump's presidency. Yet, hyperbole positive or negative is superfluous.
The Year of Lost Opportunities : Trump's accomplishments are meager, and pretty ordinary Republican stuff. The tax bill contains an important structural reform, implementing a "territorial" tax system that brings the United States closer into accord with the practices of other countries with advanced economies.
With Trump, Republicans captured the presidency, and that position of executive power was fortified with majorities in both houses of Congress and a commanding position in the states. Republicans might have done almost anything.
When I exchanged holiday greetings, many people wanted my thoughts about whether tax reform was a gift or a lump of coal in our Christmas stockings. Just as the recent brush fires randomly burned homes in neighborhoods while other houses were untouched, tax reform affects similarly situated taxpayers in an apparent hap-hazard manner.
As they scrambled to finish their sweeping tax bill in late October, House lawmakers arrived at a surprising decision: They wouldn't cut the income tax rate for the wealthy. That choice broke with conservative economic principles, which call for lower rates for high earners to spur investment and boost the economy.
Republicans leaders in the House on Tuesday and the Senate in the early hours of Wednesday pushed through a sweeping reform of the U.S. tax code. Depending on the size, structure, and sector of your business, the changes could either help or hurt the bottom line.
President Donald Trump signed the tax cuts bill into law just before Christmas, making the Christmas holiday weekend a little brighter and cheerier for the vast majority of Americans who live paycheck to paycheck. The new law's positive effects have already begun.
Or just CLICK THIS LINK to start shopping for anything. Don't worry - anything you buy through it will pay Daily Pundit a commission! Thanks! s I have asserted many times, the left exists as a class barbell: plutocrats and wards.
Although Trump doesn't generally single him out by name on this subject, the president's meaning is unmistakable when he declares, as he has done since long before the holiday season, that's he making it OK to talk about Christmas again. Obama, it would seem, did not.
Although Trump doesn't generally single him out by name on this subject, the president's meaning is unmistakable when he declares, as he has done since long before the holiday season, that's he making it OK to talk about Christmas again. Obama, it would seem, did not.
Although Trump doesn't generally single him out by name on this subject, the president's meaning is unmistakable when he declares, as he has done since long before the holiday season, that's he making it OK to talk about Christmas again. Obama, it would seem, did not.
There's a valid argument against federal tax reform an argument that didn't apply to North Carolina's path-breaking reforms but congressional Democrats and their ideological allies are spending most of their time repeating misleading talking points about the bill. Will the legislation raise the federal tax burden on most Americans in order to pay for tax cuts for the wealthy? With regard to the final deal, the Left's standard allegation is valid only for some non-wealthy Americans, only in the very long run almost all Americans clearly pay less for the next few years and only if one assumes that tax breaks slated to expire in 2025 won't be extended.
In this Dec. 20, 2017 photo, Justin Dopierala sits in his home office of DOMO Capital Management, LLC in Germantown, Wisc. Anticipating the passage of the Republican tax plan, he said he spent $20,000 on business improvements over the last couple months, including a new website and marketing pitch book for potential clients, included in this photo.
It's been more than three decades since Congress passed significant tax reform legislation. Since then, the tax code has become overwhelming in both its size and complexity, burdening working families and small businesses across the country.
President Donald Trump and Republicans plan to ring in 2018 with an aggressive sales pitch for their $1.5 trillion tax cut plan. Ahead of the bill's passage this week, Trump repeated several notable claims about what it will mean for Americans.