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.
Studies show about half of Americans will experience a layoff in their lifetime. Cheddar News' Ready4Work docuseries on Thursdays at 8:30pm provides tips in its latest episode on what to do if you get that pink slip.
A federal judge in New York has dismissed a lawsuit that accused McDonald’s and Wendy’s of misleading consumers with ads that show bigger, juicier burgers than their restaurants actually serve.
