President Trump signed the Republican tax bill into law last week. While most taxpayers will not be impacted until its time to file 2018 taxes in 2019, there are ways you can be proactive now. TurboTax Chief Tax Officer Dave Williams shares his advice for planning ahead.
"For people who live in high tax states the new law poses a limit on what you can deduct in future years," said Williams. "People may consider paying property taxes in 2017 to get ahead of the tax bill limitation."
For most people the biggest change is that standard deduction is going to go up, and fewer people will be able to itemize. Williams says it is important to consider changing withholding for next year to improve cash flow.
Elon Musk announced two new subscription tiers for people who want the premium experience. This, as some users in some countries may have to pay a very small fee to access the platform for more. Cheddar News' senior reporter Michelle Castillo explains.
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
