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More (oh joy!) GOP tax bill proposed changes

Sen. Jon Tester (D-Montana) got testy when GOP leaders demanded Senators vote on the huge tax bill without giving them time to go through the almost 500 pages. But they did. And it passed. And the final conference deal and supporting...Show More Summary

Giant Tax Cut for Christmas? Ha Ha Ha or Ho Ho Ho?

According to several reports, including this one, the President announced, “We want to give you, the American people, a giant tax cut for Christmas. And when I say giant, I mean giant.”So how big is a “giant” tax cut? According to the...Show More Summary

Johnson Amendment Repeal Removed From Final GOP Tax Bill

Christianity Today, Johnson Amendment Repeal Removed from Final GOP Tax Bill: President Donald Trump’s biggest religious freedom policy promise to evangelicals—repealing the Johnson Amendment—will no longer take place via Republican tax reform. A Democratic senator announced Thursday night that the repeal included in the House version of the tax bill,...

Prepaying SALT isn’t an Option

As the Tax Cuts and Jobs Act seeks to simplify the tax code, a last-minute provision closed a potential new tax-planning strategy germinating before the bill even passed.

Conference Report Limits on Interest Deductions

There is no good reason to eliminate interest deductions to permit expensing. Expensing is a key element of any tax system which seeks to put all economic activity on a level playing field.

The GOP Tax Bill May Be The Worst Piece Of Legislation In History

Washington Post op-ed: The GOP Tax Bill May Be the Worst Piece of Legislation in Modern History, by Fareed Zakaria: If the Republican tax plan passes Congress, it will mark a watershed for the United States. The medium- and long-term effects of the plan will be a massive drop in...

Bloomberg Tax: Tax Reform Roadmap

Following up on yesterday's post, GOP Finalizes Tax Bill, House And Senate Expected To Approve Conference Agreement Next Week: Bloomberg Tax, Tax Reform Roadmap (112 pages).

The Top Five New Tax Papers

There is a quite a bit of movement in this week's list of the Top 5 Recent Tax Paper Downloads, with new papers debuting on the list at #1 and #5. The #1 paper is already #1 (by over 20,000 downloads) among 13,183 tax papers in all-time downloads: [31,359 Downloads]...

How to Quickly Fix Your Credit in 3 Months

As a licensed Realtor ™ I know how important your credit score is, so I am pleased to share today’s guest post with my readers – Like many Americans, you’ve probably noticed that your credit score is a deciding factor in much of your life. Want a new job? Better have a good credit score. […]

Under Conference Agreement, Fewer Households Would Face the Alternative Minimum Tax

The Tax Cuts and Jobs Act will temporarily reduce alternative minimum tax liability, but retain the complexity inherent to the tax.

This Week's Ten Most Popular TaxProf Blog Posts

The IRS Scandal, Day 1681: Robert Mueller And Lois Lerner The Most Underrated Law Schools In America WSJ: For Pass-Through Businesses, Let The (Tax) Games Begin NY Times: Blinded By Her Husband, Muslim Woman Aces Law School And Finds Success At DLA Piper WSJ: Senate Tax Bill Contains 100% Marginal...

ABA Releases Law School Section 509 Reports

The ABA Section of Legal Education and Admissions to the Bar has released Fall 2017 Standard 509 Information Reports for all ABA-approved law schools on its website (explanation of changes): The material is collected by the section, which requires law schools each year to disclose data and information covering matters...

Law School J.D. Enrollment Fell 0.7% in 2017-18, But Non-J.D. Enrollment Surged 20.5%, Law School Enrollment Edges Up, with Surprise Spike in Non-JD Programs: Enrollment in law school J.D. programs dipped a tad this year, but some unexpected good news provided a counterbalance. While J.D. enrollment fell by 0.7 percent compared with last year, the numbers of non-J.D. students—studying for LL.M., masters...

The 15-Stock ‘Free Lunch’ Portfolio

If you'd invested $100,000 in the Free Lunch Portfolio in 2000 and rebalanced every year, you'd have $1.68 million. By contrast, a $100,000 investment in the S&P 500 would be worth $255,000 now.

Conference Report On GOP Tax Bill

Conference Committee, H.R. 1 (Statutory Language, Joint Explanatory Statement, Revenue Estimate) Conference Committee, Joint Explanatory Statement on H.R. 1 Congressional Budget Office, Cost Estimate for the Conference Agreement on H.R. 1 Press coverage: New York Magazine, Here’s What’s In the Final Draft of the GOP Tax Bill New York Times,...

Highlights of the GOP tax bill that's about to become law

There's a tax bill, but there is no tax reform. There's still an estate tax. There are still (some) state and local itemized tax deductions. There's still an alternative minimum tax. And there are enough other tweaks to confuse filers and keep tax pros very busy over the next 12 (or more) months. Show More Summary

It’s Beginning To Look A Lot Like Tax Reform: Here’s What’s In The Final Version

We appear to have a deal on taxes. From changes to the home mortgage interest deduction to what wasn't included in the charitable donation deduction, here's what's in the final tax reform bill.

WSJ: Law School Is Hot Again

Wall Street Journal, Law School Is Hot Again as Politics Piques Interest: It’s cool to go to law school again. After years of plummeting enrollment and hand-wringing over the value of a law degree, interest in law school is starting to rebound. The number of people applying to law school...

The text of the GOP tax complication legislation

The Republicans, after holding one sham "public hearing" on their conference bill (without any text released) have on late Friday released the text of their (Republicans only) agreed-upon final bill that will be put to a House and Senate vote...

Details of the Conference Report for the Tax Cuts and Jobs Act

On Friday, House and Senate conferees signed off on a conference report resolving the differences between the versions of the Tax Cuts and Jobs Act that passed each chamber. Votes are expected in the House and Senate early next week. The 503-page conference report hews more closely to the language of the Senate than the […]

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