Tag: Trump
Impact of Greater SALT Cap in 2025 Trump Tax Legislation
SALT stands for State And Native Taxes. It’s principally state and native earnings taxes and property tax. The 2017 Trump tax regulation capped the tax deduction for SALT at $10,000. In the event you paid greater than $10,000 in state and native taxes, the quantity above the $10,000 cap wasn’t deductible. The SALT cap primarily
No Tax on Time beyond regulation in 2025 Trump Tax Legislation. What’s the Catch?
The brand new 2025 Trump tax legislation consists of provisions for “No Tax on Ideas” and “No Tax on Time beyond regulation.” I coated “No Tax on Ideas” in a unique submit. Let’s look into “No Tax on Time beyond regulation” now. For those who earn each ideas and time beyond regulation pay, you’ll be
$1,000 Charity Donation Deduction within the 2025 Trump Tax Regulation
Many charities promote that donations are tax-deductible, however most individuals don’t deduct donations on their taxes. That’s as a result of over 80% of taxpayers use the usual deduction, they usually don’t get to deduct donations to charities once they don’t itemize. Individuals donate as a result of they assist the trigger, whether or not
Deductible Automotive Mortgage Curiosity within the New 2025 Trump Tax Legislation
When my spouse purchased a brand new Subaru Outback in March, the producer supplied particular financing at 3.9% APR. We didn’t take it as a result of whereas we might preserve our money in a cash market fund incomes 4%, the curiosity is taxable. The curiosity paid on the automotive mortgage can be after-tax. It
Social Safety Is Nonetheless Taxed Below the New 2025 Trump Tax Regulation
I acquired an electronic mail from Social Safety Administration on July 3, applauding the brand new 2025 Trump tax legislation — One Large Lovely Invoice Act. The e-mail stated, The brand new legislation features a provision that eliminates federal revenue taxes on Social Safety advantages for many beneficiaries, offering aid to people and {couples}. I
ACA Premium Subsidy Cliff After the New 2025 Trump Tax Legislation
[Rewritten on July 5, 2025 after the new 2025 Trump tax law was passed.] As a result of I’m self-employed and I’m beneath 65, I purchase medical insurance from a medical insurance market established beneath the Inexpensive Care Act (ACA). Each state has one. Some states run their very own. Some states use the federal healthcare.gov
U.S.-India Defence Cooperation Below Trump 2.0
U.S.-India Defence Cooperation Below Trump 2.0 Context Prime Minister Narendra Modi’s latest go to to the U.S. has strengthened bilateral defence ties that embrace agreements on co-production of superior weaponry, growth of maritime safety, and regulatory reforms in arms transfers. The article discusses the challenges and long-term strategic implications for India. Relevance:GS-02 (Worldwide Relations) Dimensions