Author: Jeff Stein
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Tax law changes make passing down large fortunes much easier
The teams had to be big because the work was so complicated. A single aging rich person would often hire more than a dozen people — accountants, estate administrators, insurance agents, bank attorneys, financial planners, stockbrokers — to make sure they paid as little as possible in taxes when they died. But David Klasing, an…
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Trump to advance trade deal with Mexico after NAFTA talks with Canada falter
WASHINGTON • High-stakes trade negotiations between the White House and Canadian leaders unraveled Friday, amid strains caused by lingering divisions and comments President Donald Trump made that suggested he would refuse to offer concessions. The breakdown put Trump’s effort to redraw the North American Free Trade Agreement in legal limbo. The White House formally notified…
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IRS says many who prepaid property taxes may still face cap on deductions
People across the United States rushed this week to pay their 2018 property taxes early, hoping to take advantage one last time of a federal deduction for state and local taxes that will be scaled back under the tax-code overhaul signed by President Donald Trump. On Wednesday, however, the Internal Revenue Service announced that those…
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GOP faces 5-day scramble to pass tax bill, avoid government shutdown
Republicans return to Congress on Monday facing a packed agenda with little time to enact it, as party leaders aim to quickly pass their massive tax plan and then cut a budget deal with Democrats before the end of Friday to avert a government shutdown. Republicans’ tight timing on taxes is self-imposed. GOP lawmakers have…