Tax Credit, Health Insurance, Ten Twelve Percent discussed on America Tonight with Kate Delaney

Automatic TRANSCRIPT

Very same thing they also are giving a thousand dollars to their workers as well certain ones because of what's happened with this tax bill passing so there you go record passage and it really is a wrecker pass passage because they haven't had any tax overhaul since night team eighty six and the big changes are individual and corporate taxes individual provisions would expire by the end of 20 25 tax reform would increase deficits of course one point forty six trillion over the next decade there are still seven tax brackets for people but the rates are changing the new rates our ten twelve percent 22 percent twenty four thirty two thirty five thirty seven the standard deduction has been doubled so for single filers it would be you know it has it would increase two from sixty three fifty two twelve thousand for married couples filing jointly it increases from twelve seven d or twelve thousand seven hundred rather to twenty four thousand the personal exemption is gone so that's you can't do that any longer the child tax credit was expanded so that doubles too and there's the new tax credit for non child dependents like elderly parents so that could help a little bit anyway for some the temporary credit there's all kinds of i think new revelations that either will help or hurts you're or you'll have to figure out what it is you can still deduct a student loan and by the way none of it would affect our next tax of course they wouldn't because the new laws would first come in and twenty eighteen there's no way they could do for 2017 and then people that are business owners will try to figure out what does that mean what does that mean for them um what's what can they write off from what camp they write off in all the other kind of stuff um the individual mandate on health insurance has been scrapped so that's a big deal to just some broad strokes on what it means and the meantime what all of that is happening government shutdown trying to avoid at all that stuff and what happened with taxes and what does it mean then trying to figure it all out there's time for for.

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