What the New Tax Bill Means for You

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Learn how the tax reform law might affect you and strategies for minimizing your. appreciated securities means you don't have to use your after-tax income for.

It’s Official: What the New Tax Bill Means for You. Ultimately, how the bill shakes out for each individual or family depends on income and wealth level, family size, what state you live in and whether you own a home, among other factors. Tim Steffen, director of advanced planning at Baird Private Wealth Management,

 · Individual tax rates and capital gains taxes For individuals, Trump has proposed fewer tax brackets and lower top rates: 12%, 25% and 33% – versus the.

“The new tax rules will affect people’s final tax bill, whether they owe or get a refund, so they have changed everyone’s situation,” Andrea Coombes, NerdWallet’s tax specialist, told the Daily News..

 · Under the new bill, taxpayers can claim a $2,000 credit for each qualifying child under the age of 17. The tax credit applies to single filers and married couples, and is fully refundable up to.

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The bill includes deep tax cuts for corporations, tax breaks for the wealthy, and what experts say are more limited benefits for middle-class Americans. — Corporate rate to 21%, down from 35%.

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What the New Tax Bill Means for You The enactment of the Tax Cuts and Jobs Act represents "the most sweeping overhaul of the U.S. tax code in more than 30 years." 1 For millions of Americans and businesses it means an altered financial and investment landscape with new opportunities and challenges in the years ahead.

Many people are excited to submit their Form 1040 to the IRS every year because tax season tends to mean a big refund. penalty for late payment is to pay your tax bill by the deadline. But even if.

But having passed the House and Senate, the bill is now a president trump signature away from becoming the law of the land, so what does it mean for you, the taxpayer? In the past, tax reform.