We’ve discussed the personal tax (Part 1and Part 2) provisions of the newly enacted tax law. Over the next three days, we’ll discuss the business provisions of the law.
Category Archives: Taxes
Personal Taxes, from 2018 until 2026
This is a continuation of our discussion of the final versions of the House and Senate Tax Cuts and Jobs Act (sic) bill. Those are now the law of the land, PL 115-97.
PL 115-97 (Tax Cuts & Jobs Act, sic)
We really needed tax reform. Instead we got HR-1, absurdly labeled as the Tax Cuts and Jobs Act, plus the Senate version of that same bill,. As I promised, they wouldn’t be passed as proposed (that would have been EVEN worse, they have been reconciled. And , TheDonald has signed the final version, so it’s the law of the land. PL 115-97.
Blame the Messenger????
Before I review the final version of HR-1, now known as PL 115-97 (the series starts tomorrow!), it’s important to review the current state of affairs at the IRS (Internal Revenue Service).
I’m NOT your advisor!
Let me repeat that. For most of you, I am not your financial professional. I suggest you contact your professional to discuss what I am proposing here.
Sabotage!
I’m sure you realize that I will be updating the information on the new tax laws soon. I haven’t decided if I will rewrite the 9 blogs that covered the House and Senate version or just “X” off the parts that didn’t make it to the signed version. (I’m leaning towards the latter- with only two or three posts to cover the individual and business tax provisions.)
Property Manager?
The tax law is changing. It’s a done (bad) deal. And, one of the ways you can position yourself to take advantage of the changes is to start a business. Because pass-through businesses are going to have special tax preferences.
Poof! They’re gone!
I was reading one of my favorite “popular” (non-technical) magazines the other day. In particular, the 27 November 2017 issue of Business Week.
Ready, set…
I had a meeting the other day with a very talented musician. He’s been preparing a brand new album and he wants to begin operating as a real business.
Back Door Man…
I’m sure you’ve heard that the Senate version of the (creatively named) Tax Cuts and Jobs Act is now going to attack PPACA (Patient Protection and Affordable Care Act), affectionately (sic) known as Obamacare. But, if you don’t truly understand the intracacies of the bill, it will be difficult to discern how NOT collecting the tax penalty on those who don’t enroll in a health care plan can be used to reduce the deficit incurred by the behemoth of a bill. (Sorry for all those negatives- but that’s the true concept.)