The TCJA changed the U.S.corporate taxsystem from worldwide to territorial. U.S. corporations no longer have to pay U.S. taxes on most future overseas profits. U.S. corporations paid U.S. taxes on all profits no matter where they were earned under the previous system. ...
How the TCJA Affects You The TCJA is complex. Its various terms affect each family differently depending on their personal situations. High-Income Earners When the TCJA was proposed, the independent tax policy nonprofit Tax Foundation found that those who earn more than 95% of the rest of the...
Taxes Might Get Simpler According to Levine, the larger standard deduction under the TCJA means that many more will not itemize deductions. This, said Levine, "goes towards the goal of simplification many retirees have for/during retirement." Got questions about money, retirement and/or ...
The Tax Cuts and Jobs Act (TCJA), the massive tax reform law that took effect in 2018, made the child tax credit much better for all taxpayers. The TCJA doubled the maximum amount of the credit from $1,000 to $2,000. The tax reform law also vastly increased the level of income ta...
In December 2017, Congress passed the Tax Cuts and Jobs Act (TCJA) that included some changes to increase the possibility that you can take bonus depreciation. Here are the details of the new provisions: Bonus depreciation doesn't have to be used for new purchases but must be "first use...
Veteran fund manager sees world of pain coming for stocks Read More StocksEstate PlanningTaxesInvestingBondsPoliticsFinancial PlanningInvestment StrategyStock MarketEstate Taxes By Caitlin Cahalan Caitlin Cahalan is a Personal Finance Writer at TheStreet, covering retirement planning, homeownership, personal fi...
The Tax Cuts and Jobs Act (TCJA), the massive tax reform law that took effect in 2018, made the child tax credit much better for all taxpayers. The TCJA doubled the maximum amount of the credit from $1,000 to $2,000. The tax reform law also vastly increased the level of income ta...
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