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.
America’s employers added a healthy 253,000 jobs in April, evidence of a labor market that still shows surprising strength despite rising interest rates, chronically high inflation and a banking crisis that could weaken the economy.
Danny Taing, founder and CEO of Bokksu, joined Cheddar News to discuss his path on how he became an entrepreneur to launch a company that delivers artisanal Japanese snacks. "When I moved back from Japan to New York, I had this bit of reverse culture shock ... a lot of people had somewhat of a one-dimensional view of Japan ... they saw this country where people ate sushi every day ... none of that is true," he said.
Will Rhind, CEO of GraniteShares, joined Cheddar News to discuss Thursday's trading session amid renewed fears over the regional banking crisis as well as concerns over the debt ceiling debate.
The United Food and Commercial Workers union, one of the country's largest, opposed the planned merger between grocery chains Kroger and Albertson's, according to The Wall Street Journal, citing concerns about lack of information and the potential viability of stores upon closing.
Johnson & Johnson's consumer-health unit Kenvue made its debut on the New York Stock Exchange and jumped about 20% on Thursday. Thibaut Mongon, CEO of Kenvue, joined Cheddar News to discuss business growth goals and what lies ahead for its well-known pipeline of products, including Band-Aid, Neutrogena, Tylenol, among others.
