by OverviewFx | Aug 30, 2023 | taxes
Republicans crossed another major hurdle in their effort to get a tax bill to President Trump’s desk by Christmas. In the early hours of Saturday morning, the Senate passed a sweeping tax overhaul bill in largely party-line vote. Just one Republican, Tennessee...
by OverviewFx | Aug 30, 2023 | taxes
The tax overhaul bills passed by the Senate and House would likely to change your tax return in ways large and small — which credits you can take, what you can deduct, how much you pay. But they differ on key points. You’ll be hearing a lot about those...
by OverviewFx | Aug 30, 2023 | taxes
The tax bills passed by the House and the now the Senate include slightly more generous benefits for parents. Unless their children are undocumented immigrants. Currently, non-citizens filing taxes using an Individual Taxpayer Identification Number, or ITIN, are...
by OverviewFx | Aug 30, 2023 | taxes
In its frenzied rush to write a tax bill that could win enough votes, the Senate inadvertently weakened a powerful tool for promoting innovation. The research and development tax credit allows companies to write off a portion of their spending on experimentation for...
by OverviewFx | Aug 30, 2023 | taxes
It’s better than nothing. Lawmakers have decided not to touch a tax deduction for teachers who spend their own money on school supplies — effectively splitting the difference between competing proposals. Currently, teachers can deduct up to $250 for...
by OverviewFx | Aug 30, 2023 | taxes
Republican leaders backed away from several controversial proposals to change education-related tax breaks. They have agreed to save the student loan interest deduction and keep tuition waivers for graduate students tax-free. The final version of the tax bill would...
