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Bookmark or Share- Tax Reform | Internal Revenue ServiceIRS Publication 5318, Tax Reform: What’s New for Your Business. Provides information about changes to deductions, depreciation, expensing, credits, fringe benefits and other items that may affect your business. The IRS is working on implementing the Tax Cuts and Jobs Act (TCJA). This major tax legislation will affect individuals, businesses ...
- Georgia governor signs income tax cuts as property tax ...Election-year tax cuts are always popular in the state, and all 236 state House and Senate seats are on the ballot this year. All the measures were supported by at least some Democrats, while receiving overwhelming Republican support. Georgia’s personal income tax already dropped on Jan. 1 to a flat tax of 5.49%.
- The Federal Deficit Is Growing. This Is Why. - The New York TimesIn the same period, it predicts, the government’s tax receipts will equal about 18 percent of the economy — a number that assumes many of Mr. Trump’s tax cuts will expire in 2025.
- Tax Cuts: Definition, Types, Effect on Economy - The BalanceTax cuts reduce taxpayers' burden but also increase the nation's debt. Cuts can boost growth, but they rarely do so enough to make up for the revenue lost. Cuts are most effective if tax rates are high or if the tax cuts occur during a recession. Tax cuts are always more popular with voters than tax hikes.
- How Tax Cuts Affect the Economy - InvestopediaTax cuts reduce government revenues and create either a budget deficit or increased sovereign debt. The federal tax system relies on several taxes to generate revenue, including income tax and ...
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