The 2017 Tax Cuts and Jobs Act is a case study of how lawmakers make themselves richer with the bills they pass.
When the price of Apple stock hit a then-record high in October 2018, among the shareholders counting their gains were 43 Republicans in Congress, who collectively owned as much as $1.5 million worth of the tech giant's shares.
Apple's stock jumped 37 percent in its runup to that record. Several variables were behind the climb, including higher-than-expected earnings . But congressional Republicans themselves had a hand in the spike, stock analysts say . Legislation they championed — the 2017 Tax Cuts and Jobs Act — doled out nearly $150 billion in corporate tax savings in 2018 alone. One effect: a big boost in stock prices.
Were you following this:
Letter: Why fuss about the tax on food? - Deseret News
It seems to me that we elected representatives, giving them authority to restructure the Utah tax regulations to recognize the need for changes in the way revenues are raised by the various tax sources. It is apparently easy to attack one particular section of the restructure, the tax on food, while ignoring the overall provisions of the legislation.
I just don't understand the big concern over increasing the food tax when there was a mitigating credit being given for low and moderate income families. My understanding is that there would have been a $125 credit per person to offset the higher food tax. A family of four would therefore get a $500 tax credit.
Braemar Hotels & Resorts Announces Tax Reporting Information For 2019 Common And Preferred
DALLAS , Jan. 24, 2020 /PRNewswire/ -- Braemar Hotels and Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced the tax reporting (Federal Form 1099-DIV) information for the 2019 distributions on its common shares and its Series B and D preferred shares.
The income tax treatment for 2019 for Braemar Hotels and Resorts Inc. Common Stock CUSIP #10482B101 traded on the NYSE under ticker symbol "BHR" is as follows:
There's a tax benefit for donating money — but not for volunteering - Los Angeles Times
In yet another example of how tax laws favor the rich, contributions of money and property to nonprofit organizations result in tax benefits for the giver. But if you volunteer your time and labor, you get bupkes.
"This goes back to World War I," explained Arthur Rieman, a Studio City lawyer specializing in nonprofits. "Congress felt it wasn't worth giving people credit for their time."
Indeed, the Revenue Act of 1917 established an individual income tax deduction for financial contributions made to charitable organizations. The thinking at the time was this would encourage donations as income tax rates were rising to fund the war.
Not to change the topic here:
Carbon Tax Scheme Would Pay Dividends to Public
HOUSTON (CN) — Crowding around the ever-growing carbon tax drum circle, major oil companies are rubbing elbows with college students and economists.
The Climate Leadership Council's proposal to charge electricity providers, oil and gas drillers, refiners and chemical plant operators a starting $40 per ton fee, or tax, on carbon emissions would hit Americans in the pocketbook, raising gasoline prices by 36 cents per gallon, according to its founder Ted Halstead.
Final Regulations on Opportunity Zones | Proskauer - Tax Talks - JDSupra
On December 19, 2019, the Internal Revenue Service (the “IRS”) and the U.S. Department of the Treasury (the “Treasury”) issued final regulations (the “ Final Regulations ”) under section 1400Z-2 of the Internal Revenue Code [1] regarding the opportunity zone program, which was enacted as part of the law commonly referred to as the “Tax Cuts and Jobs Act”.
The opportunity zone statute left many uncertainties regarding the fundamental operations of the opportunity zone program. The IRS and Treasury issued two sets of proposed regulations under section 1400Z-2 in October 2018 and April 2019 (the “Proposed Regulations”). The Proposed Regulations were discussed in two of our earlier blog posts, found here and here .
Ashford Trust Announces Tax Reporting Information For 2019 Common And Preferred Share
The common and preferred distributions that the Company paid on January 15, 2019 to shareholders of record as of December 31, 2018 are reportable in 2019. The common and preferred distributions that the company paid on January 15, 2020 to shareholders of record as of December 31, 2019 will be reportable in 2020.
The above income tax discussion contains a general explanation of certain U.S. federal income tax consequences of the distribution of the AINC shares to AHT Shareholders. The information represents Ashford Trust's general understanding of the application of certain existing U.S. federal income tax laws and regulations relating to the distribution. It does not constitute tax advice and does not purport to be complete.
Happening on Twitter
Totally agree. @RepAdamSchiff and his team were outstanding. They made clear what Trump did and why and why it mat… https://t.co/kpmMewCTzt JillWineBanks (from Chicago, IL) Thu Jan 23 04:04:08 +0000 2020
Republicans and the White House have made it clear that they don't want the American people to know what happened.… https://t.co/uZAh8mIr6k ewarren (from Massachusetts) Fri Jan 24 19:45:32 +0000 2020
I love how even in this guys made up version of Republicans freaking out Schiff and the Democrats have presented no… https://t.co/DLPHHcNPi9 Timcast (from New York) Thu Jan 23 15:04:00 +0000 2020
If you listen to one part of today's arguments, make sure you listen to @RepAdamSchiff's closing. It was so compell… https://t.co/LYDGCqmE21 PattyMurray (from WA & DC) Fri Jan 24 04:06:05 +0000 2020
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