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.
The Black Innovation Alliance is working to empower Black entrepreneurs and recently received a $3 million commitment from UBS to help with resources. Ifeoma Ike, director of policy and movement strategy with the Black Innovation Alliance, joined Cheddar News to explain further the organization's mission.
Shana Sissel, president & CEO of Banrion Capital Management, joined Cheddar News to discuss another down day on the last session of the month in trading as inflation, a restricted monetary policy, and layoffs continue to affect markets.
Americans who get paid bi-weekly, which means twice a month, will see a third check in March. Shon Anderson, chief wealth strategist of Anderson Financial Strategies, joined Cheddar News to provide tips on how to improve your financial position with that extra pay.
Tesla shareholders filed a lawsuit against the company and Elon Musk, accusing the billionaire of overstating the capabilities of the electric vehicle's self-driving software.
Janice Gassam Asare, workplace equity consultant and the founder of Black White Green (BWG) Business Solutions, discusses supporting Black-owned businesses outside of Black History Month.
