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...
by OverviewFx | Aug 30, 2023 | taxes
How do people feel about GOP tax bill? It depends on who you ask. Some business, advocacy and trade groups have major concerns with it. Others say the tax plan will be boost the economy. The plan isn’t law yet. Another round of votes is due in the coming days....
by OverviewFx | Aug 30, 2023 | taxes
President Trump said H&R Block would go out of business because his tax overhaul would be so simple. But the plan Republicans and Trump came up with almost certainly won’t put tax preparers out of business. The final tax bill, released on Friday, does indeed...
by OverviewFx | Aug 30, 2023 | taxes
President Trump has hailed the GOP tax plan as a “giant tax cut” for the middle class. While many people will pay less tax in the next few years, just how much less will vary greatly. Plus, some individuals will end up paying even more. How do you know...
by OverviewFx | Aug 30, 2023 | taxes
First, the good news. A lot of households under the GOP tax plan, which President Trump is set to sign into law this week, will see a lower tax bill in the next several years. The nonpartisan Joint Committee on Taxation estimates that in 2019, more than half of filers...
