On December 20, 2017, the U.S House of Representatives and. Senate passed H.R. 1, “[a]n Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” (referred to hereinafter as the “Tax Cuts and Jobs A...
I don’t tell you this because you need to replicate what I have done. The opposite is true. If you have a regular job to pay the bills, you can accomplish amazing financial results with just a few investment properties. And the real estate strategies I have used work very well in con...
Fast-forward to President Trump, who signed the Tax Cuts and Jobs Act (TCJA) in December 2017. The exemption had been only $5.49 million in 2017. The TCJA more than doubled that to $11.18 in 2018. Tax Exemptions and Rates Over the Years Here's how the estate tax has been assessed...
The CTC currently provides up to $2,000 per child under 17 under the 2017 Tax Cuts and Jobs Act (TCJA). If the CTC exceeds taxes owed, families may receive up to $1,700 per child as a refund for the 2024 tax year. Credit for Other Dependents: Other dependents, including those of ...
Taking another area where the US has made waves in the world of TP: the global intangible low-taxed income (GILTI) provisions of the 2017 Tax Cuts and Jobs Act. The OECD’s pillar two minimum-taxation rules will replicate a GILTI-style regime on a global sca...
A recent example comes from the 2017 Tax Cuts and Jobs Act. That law was drafted in both haste and secret, and quickly passed without any time for review—or even proofreading. One of the things in it was a typo that accidentally categorized military death benefits as earned income. The ...
Like many students, I was philosophically a left-wing tax-and-spender. It was a pretty low-stress position to hold when I paid no taxes! But then I got a job. Suddenly I saw how much money would be taken out of the meagre pay I received for ramming my head repeatedly into the coal...
Gov. Jeff Landry scored one of the biggest victories of his political career Friday when he managed to push major corporate and personal income tax cuts through the Louisiana Legislature… A flat rate of 3% will replace all three personal income tax brackets that top out at a high rate of ...
Taxes can be tricky for gig economy workers with multiple jobs. Keeping track of your income and reporting it accurately are key.
The way that backdoor Roth IRAs work has changed over the years. Although IRA funds that were transferred to Roth IRAs in pre-2018 conversions could be recharacterized as traditional IRA contributions before 2018, theTax Cuts and Jobs Act (TCJA)of 2017 banned the strategy of recharacterizing c...