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What the New Tax Bill Means for You

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What the New Tax Law Means for You. The new tax bill passed by Congress on Wednesday and signed into law on Friday is a major coup for U.

 · Much of the news surrounding Congress’ new tax bill has focused on politics – but what does it mean for you as an Illinois taxpayer? In condensed form, here are some of the changes and how they’ll affect the consumer’s wallet. Congress.. Business One.

This past year, Mingus Union purchased new. This means for a home worth $200,000, Beaver Creek property owners would pay.

On its own, the move would spark an exodus because multinationals would have to pay the same tax rate as local companies, which in Geneva is as high as 24.16%. So the government is proposing new ways.

 · A new requirement that you own your home for five years — rather than two — before you can sell it tax-free.. the additional credit is in no part refundable, meaning that if you have no tax.

In the seven that do, annual tax. new schools. More specifically, that means rural areas and financially-distressed central cities. The state hasn’t been involved in paying for schools in a.

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.

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If you’re really a planner, note that currently this rule expires on Jan. 1, 2026, although who knows what might happen to it by that time. But if you moved in 2017, be sure to talk to your accountant or tax preparer about whether you are eligible for the deduction, as this new law didn’t kick in until the 2018 tax year. 2.

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"You. tax levy throughout the county. This, Metz estimates, would generate roughly $150 million annually for Metro. That.

The 2018 tax reform bill increases that credit to $2,000 per qualified child and raises the income limits for the credit to $400,000 jointly and $200,000 individually. ( 6 ) This means a lot more people will be able to receive tax credits for Junior.

 · What the Senate Tax Plan Means for Small Business. The senate bill differs from the House’s proposal in the way that it treats small businesses, and there will be some work to.