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The tax system is about to change drastically under the new Trump administration. This article will discuss how exactly this could affect you financially explains William D King. New Tax Law: The new tax bill has recently passed in the senate and is now waiting for President Donald Trump’s approval. It promises big changes that would be effective immediately, but some are still unsure of what those are. Those effects are listed below, along with their benefits to the average American worker have been estimated to save an average family $1,182 per year according to TPC, Tax Policy Center. The tax brackets are changing to 10, 12, 22, 24, 32, 35, and 37 percent for federal income taxes. The new bill is also removing the personal exemptions which could affect families with children. The standard deduction will be increasing from $6,350 to $12,000 for an individual and from $12,700 to $24,000 for a family. These changes mean that your effective tax rate will decrease if you make under the median American income of approximately $50k per year. Many top corporate tax rates are decreasing from 35% down to 20%. This allows corporations to get more profits back since they are not paying as much in taxes according to CNN Money. William D King says most lower-income workers receive the majority of their income through hourly… Read More »William D King: How the new suggested tax law changes could affect your yearly pay

With the new proposed tax law changes that we will discuss in this paper, it is my belief that they are good for America says, William D King. I will start with discussing certain aspects of these proposed changes and their effects Effects on Corporations: One of the proposed changes to the current tax code is a reduction of corporate taxes from 35% to 20% (CNN). This would help corporations so they can keep more money to invest and expand their business, while still paying some taxes (which is better than paying no taxes as many do now). They can use that money to hire employees and increase everyone’s income which leads to an overall greater economy. The other thing that we need to look at is how these companies treat all their employees based on what they have now. If more money is going to the employees of a company because of this proposed change, then that is great! More people will be getting a pay increase and keeping up with inflation if they are living in an area where the economy is better. For example, I live in Houston, TX which has been doing pretty well lately due to an increase of jobs available, but there are still some parts of the country where workers aren’t making enough ($35k/year) for their basic needs… Read More »William D King: A review of whether or not these new proposed tax law changes are good for America

In this article, I will be writing about the new income tax bill that is being proposed in congress and how it will affect you if this bill passes says, William D King. Body: In December of 2017, there was a new addition to the current federal tax laws from congress. The name of the bill is “The Tax Cuts and Jobs Act”, but most people call it by its nicknames such as “The New Income Tax Bill” or the “2017 Federal Income Tax Bill”. This bill has been passed in both chambers of Congress, which means it’s going to be effective beginning January 1st, 2018 until December 31st, 2025. If you haven’t heard about this bill or didn’t know that it existed then this would be a great time for you to research it. This bill has many changes and the majority of them will affect your wallet says, William D King. Here’s a list of some of the proposed changes: 1) If you’re single, you’ll pay a flat rate of 12%. 2) The standard deduction for married couples is going up from $12k to $24k. 3) There is an increase in the child tax credit from $1,000 to $2,000 per child under 17 years old. 4) They are changing how much money you can invest into your 401(k). . Currently there is no… Read More »William D King: A look at the pros and cons of the proposed income-tax bill

The new income-tax bill changes will affect everyone differently. These are some highlights of how it could affect you, depending on your citizenship status and the country in which you live says, William D King. Taxpayers who reside in Portugal will benefit from the new tax rates (for 2017), with an increase for employees; these changes will come into force next year, benefitting all Portuguese citizens irrespective of their place of residence. A new rule also provides that deductions for dependent children residing abroad will end up if they continue studying outside the borders of Portugal after 30 years old (for cases where study continues beyond that age), or when they acquire permanent residency abroad – independent of age. Taxpayers with modest revenue have also received benefits through this change since the minimum level for the standard rate (taxable annual revenue) has been raised from 120 to 530 Euros. New income tax bill changes: The minimum income level is a figure below which taxpayers are not obliged to provide details on their income and gains, in Portugal. It used to be 120 Euros every year but will rise to 530 Euros next year. This change was included in the new tax bill changes recently approved by Parliament. If you are able to opt out of submitting your taxes because your earnings do not reach this… Read More »William D King: A look at the new income-tax bill changes and how they could affect your future

The income threshold for the highest tax bracket has been raised to $250,000 and it now includes earned income, as well as investment income, says, William D King. In addition, a surcharge of 2% is applied if your taxable income exceeds $300,000, and another 1% on any amount that exceeds $500,000. The full text of the proposed bill can be found at: Income Tax Act proposal Tax Brackets/Rates (incomparable to current numbers) The current tax brackets were established in 2012 with a marginal rate of 20%. That rate was increased last year by 5%, effectively raising taxes on those making over $70,000 from 25% to 30%. This new proposal would make all future marginal rates 10%. The proposed tax brackets and rates envisioned in the bill are as follows: $0 – $30,000: 10% (unchanged) $30,001 – $80,000: 20% (previously 15%) $80,001 – $150,000: 25% (previously 30%) $150,001 – $200,000: 30% (previously 35%) >$200,000: 40% (unchanged) However taxable income is now defined as “gross income” minus “non-refundable personal credits”. This means that those earning less than $30,000 will see their effective federal marginal rate increase by 2.5 percentage points. People with taxable incomes between $30,000 and $200,000 will see a marginal rate increase of 3.75 points and the marginal rate for those over $200,000 remains unchanged at 40% The following chart shows estimated federal tax paid… Read More »William D King: A look at how the new suggested income-tax bill will affect you in 2025

Most of you already know how tedious household chores can be. Maintaining their house can be an uphill battle for many people, especially when they have multiple tasks lined up says William D King. And to get away with all the frustration, the right thing to do would be to hire a house cleaning service. This way, you will save a lot of time and spend time doing something that you enjoy! So, if you are looking for cleaning services, follow these excellent tips to find the right one. They should suit your timings Before looking for cleaning services, decide how often you want them to visit your home and how much cleaning you need. After this, you would like to determine the frequency of your home cleaning. Whether you want them to clean your house twice a week or once a month—these are some of the major decisions that you would have to make before hiring a deep cleaning service. Go for cleaning services that suit your schedule. A good company will be able to schedule the service as per your convenience and will be able to be punctual with your cleaning tasks. They should understand your expectations William D King says another vital step required in hiring a cleaning service is making your expectations clear. During the telephonic conversation with your potential cleaning… Read More »William D King: Here Are A Few Tips for Picking the Best Deep Cleaning Services

If you are looking to buy a home, the first thing to think about is the financial aspect of the deal says, William D King. House-buying is the most significant financial investment you can make, and to make the process a low-burden option; you need to obtain a mortgage. However, how do you even start your search for the right mortgage lender? Keep in mind that there are several options on the internet, but you need to find a lender specific to your needs to make a partnership work. Mortgage lender job description As a mortgage lender, the primary objective is to evaluate the loan options available to the buyer. However, you need to understand that the lender’s job is to recommend the best loan for your case. This is where the trust factor comes into play. To simplify your search for the best and the most professional mortgage lenders, here are five things to keep in mind. Have a clear goal Ask yourself right at the start, why do you even need a lender? If you purchase, refinance, or buy a new residence, you are on the right track. The next question to ask yourself is whether you require the lowest monthly payment or are looking to pay the amount back as soon as possible? The answers will allow you to state your case… Read More »William D King – The best tips on the internet to pick the perfect mortgage lender while buying a house

The price of products and timely and safe delivery are the critical elements that contribute to e-commerce businesses’ success says, William D King. Making the products available to customers on time enhances user experience, which weighs in favor of e-commerce businesses. Making the products available to customers by using fulfillment services is a crucial component of e-commerce operations. A company that offers fulfillment services to leading businesses worldwide, will give you a better understanding of the services’ operations and the challenges faced in executing the fulfillment services. The order fulfillment process starts right from sale and ends in the timely and safe delivery of consignments to customers. E-commerce companies largely depend on 3PL or third-party logistics to handle the fulfillment services. Stages in the order fulfillment process say William D King Taking stock – Soon after a customer confirms the order to an e-commerce company, the baton passes on from the merchant to the 3PL company that looks at the inventory at the fulfillment center. It consists of documenting the parameters like quantity, delivery time, and storage requirements. Pickup – A picking team assigned by the 3PL then receives a summary of the documents created in the earlier step and starts planning for picking the goods from the specified location. Storage – After pickup, the goods arrive at the fulfillment center of the 3PL and… Read More »Factors that contribute to successful fulfillment services says, William D King

The transition of moving from home-schooling to back normalcy is hard for both children and families says WILLIAM D KING. However, reopening is one step to positivity, but the number of uncertainties and fears it brings makes it impossible to leap.  Although many early ages care and educational programs were open even during a pandemic. But of many the families, it was an absolute lockdown. It is excellent that gradually business is opening and bringing the new regular back. For schools, parents, children, and caregivers – it is going to be a challenging phase. Let’s explore the simple ways you can make this transition a smooth and stress-free one. Simple tips by William D King It might be overwhelming for the parents with many uncertainties, but children must attend school and have a regular life. The school staff and administration must welcome the children with all the possible arrangements to instill assurance amongst the families and caregivers. And this is only possible if all work as a team. Offer virtual connections to the parents like video calls and phone meetings. Virtual interaction would give them confidence of the new normal, and they would feel secure about their children.  Keep the parents in-loop while sharing the various programs, the measures taken to make the school environment covid safe. Frequent communication adds assurance in the families, and they… Read More »Going back to school with new normal – Here are some tips by William D King

These proposed tax law changes may significantly impact your tax liability, depending on your financial situation says WILLIAM D KING. While the final result is still up in the air, it may be beneficial to take a few hours to review the options. In addition to raising corporate taxes, Biden’s plan is likely to involve raising individual income taxes and increasing corporate taxes. His plan called for raising the top tax rate for people who earn over $400,000 from 37 percent to 39.6 percent, extending the current rate of 37 percent. Furthermore, he wants to cap tax deductions at 28 percent for anyone who makes more than that threshold in their income. Major Components of the tax plan – by William D King This article identifies the major components of President Biden’s tax plan and explains which parts have been accepted and which aspects are still in the proposal stage, President Joe Biden has proposed tax reforms to close an investment income loophole that favors the wealthiest Americans for his Build Back Better initiative. It would allow him to fund the transformative investments made as part of the program. In terms of impact, this change is the most crucial way Biden’s plan counteracts the tax game’s special privileges of wealth earnings over wages and salaries. A relatively small proportion of Americans—those with substantial untaxed profits—would… Read More »How Individuals may be adversely affected by tax reform, by William D King