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2017 CST

Tax plan from Republicans outlines 5 sweeping changes for individuals

Tax plan from Republicans outlines 5 sweeping changes for individuals The tax-plan proposal outlined by Congressional Republicans would affect Americans across the board, with big changes for certain tax breaks and the outright elimination of others. Still, certain bold provisions got scaled back and the whole package is sure to face further tinkering. Fewer brackets, lower rates: The GOP plan [...]

2017 CST

Divorce penalty? Tax reform could shrink alimony for ex-spouses

Divorce penalty? Tax reform could shrink alimony for ex-spouses Alimony payments mandated by divorce agreements could lose their beneficial tax treatment. The Tax Cuts and Jobs Act, unveiled on Thursday, includes a provision to kill the deduction that taxpayers get for making such payments to an ex-spouse. Although it's just one of the many tax breaks [...]

2017 CST

Here’s a Juicy Tax Break. Now, How to Keep Everybody From Claiming It?

Here’s a Juicy Tax Break. Now, How to Keep Everybody From Claiming It? The GOP bill’s pass-through rule offers wealthy taxpayers a big windfall, but there’s a catch. House Republicans say they’re determined to simplify the U.S. tax code. A long-awaited provision in the massive tax bill they unveiled Thursday, a special rate for “pass-through” businesses, [...]