Professional Analysis of the New Tax Bill

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RE: Professional Analysis of the New Tax Bill

(12-20-2017 02:41 PM)Redwingtom Wrote: Individual Tax Changes in the “Tax Cuts and Jobs Act”
Business Tax Changes in the “Tax Cuts and Jobs Act”
S corp, partnership & other changes in the “Tax Cuts and Jobs Act”
Pension and Benefit Changes in the “Tax Cuts and Jobs Act”
Estate and Gift Tax Changes in the “Tax Cuts and Jobs Act”
Foreign Income, Foreign Persons Tax Changes in the “Tax Cuts and Jobs Act”

Enjoy!!

Notable permanent change:
"New law. For tax years beginning after December 31, 2017 (Dec. 31, 2018 for figures that are newly provided under the Act for 2018 and thus won’t be reset until after that year, e.g., the tax brackets set out above), dollar amounts that were previously indexed using CPI-U will instead be indexed using chained CPI-U (C-CPI-U). (Code Sec. 1(f), as amended by Act Sec. 11002(a)) This change, unlike many provisions in the Act, is permanent.
RIA observation: In general, chained CPI grows at a slower pace than CPI-U because it takes into account a consumer’s ability to substitute between goods in response to changes in relative prices. Proponents for the use of chained CPI say that CPI-U overstates increases in the cost of living because it doesn’t take into account the fact that consumers generally adjust their buying patterns when prices go up, rather than simply buying an item at a higher price."

12-20-2017 06:45 PM