$DIA, $SPY, $QQQ, $RUTX, $VXX
FLASH: S&P 500’s 8-Day Winning Streak Capped in a Fibo Retrace on Volume
Tax time is here and the April 15 deadline for individual returns looms, as Americans are facing the full reality of President Trump’s new tax law.
The law, better known as the Tax Cuts and Jobs Act, was signed into law by President Trump on Dec. 22, 2017, and is estimated to cut taxes during the next 10 years by $5-T. Key parts of the law went into effect in Y 2018, but almost all parts become fully effective in Y 2019.
One guide Americans are turning to is “The Trump Tax Cut: Your Personal Guide to the New Tax Law,” by Eva Rosenberg. Rosenberg is a renowned tax expert and founder of the popular financial blog TaxMama.com.
Already, “The Trump Tax Cut,” from Humanix Books, has shot to the #1 best-seller status on Amazon (NASDAQ:AMZN) while joining many other best-seller lists.
“The Trump Tax Cut” delivers the straight dope on hundreds of deductions, write-offs and legal loopholes that you can use right now to save tens of thousands of dollars in taxes.
As “The Trump Tax Cut” reveals, if you’re an independent contractor or small-business person, there’s a special deduction of 20 percent of your income that makes your effective rate just 29 percent – a tax perk almost anybody can be eligible for.
There are qualifications and the book explains them. It reveals how even the highest income-earners can see their tax rate drop to a shockingly low 29%.
Newsmax hails “The Trump Tax Cut” as “more than a guidebook, it’s your pass to great wealth.”
The easy-to-follow guidebook offers dozens of ways to increase your tax refund and find hidden deductions, including:
- Medical Deductions: Learn how to reduce your medical costs by up to 25 percent. And see how you legally deduct for cosmetic surgery costs.
- Education Benefits: Take advantage of the federal and private programs that pay off your student loans in exchange for a few years of your time. And learn how to give your grandchildren money for college without paying a dime in gift taxes.
- Small-Business Benefits: Learn how independent contractors and small-business persons can reap, a special deduction of 20 percent of their income making the effective rate just 29 percent.
- Mortgage Deductions: Find out how you can deduct the mortgage interest on two homes.
Those are just a few of the easy-to-use tax breaks you’ll learn about in “The Trump Tax Cut.”
The book also reveals the five best states in America to live in under the new tax law.
In addition, “The Trump Tax Cut” shows you how to:
- Borrow up to $50,000 from your pension plan without any tax consequences or withdrawal penalties.
- Buy a new car for up to $40,000 and write it off immediately.
- Get the government to help pay your energy bill.
- Put away money for retirement you can take out without paying taxes.
- Collect rent payments the IRS does not count as income.
- Get the IRS to waive penalties for mistakes you made on your taxes.
- Have more time to pay back 401K loans if you’ve been fired from your job.
As Rosenberg writes in this do-it-yourself, money-saving guide, “The impact of the Trump tax plan if nothing short of breathtaking,’’ for individuals and businesses.
Tuesday, the major US stock market indexes finished at: DJIA -190.44 at 26150.58, NAS Comp -44.61 at 7909.27, S&P 500 -17.57 at 2878.20
Volume: Trade on the NYSE came in at 2.1-B/shares exchanged
- NAS Comp+19.2% YTD
- Russell 2000 +15.7% YTD
- S&P 500 +14.8% YTD
- DJIA +12.1% YTD
HeffX–LTN’s overall technical outlook for the major US stock market indexes is Bullish in here.
Editor’s Note: Author Eva Rosenberg contributed to this story.
Latest posts by Paul Ebeling (see all)
- Ed Ruscha’s ‘Radio’ Hammers for Record $52.5-M at Christie’s - November 22, 2019
- Gold is More Than a Safe Haven Asset - November 22, 2019
- The Street’s Key Stock Analysts Research Reports - November 22, 2019