The new tax plan and me

Steve & Ted
Friday, January 12th

Moneytracker Don Grant talks about some of the differences between this and last year's taxes.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Two I like the direction that our country is headed and I am a little concerned about some things that are going on now country. I think that. We are awesome and I love us so. Listening to Stevenson in the morning and 987 and thirteen 38. Yes we're just a few minutes later from bunny tracker with Don and grants. Don't miss it coming up minutes now it's time for three big things three. College men's basketball fifth ranked Wichita State with a 35 point win last night at east Carolina the shocker will be in Tulsa tomorrow night CN. The company ministries and says it's going to allow states to impose work requirements on able bodied Medicaid recipients. Trying to help people move from public assistance into jobs that provide health insurance line. Extreme cold temperatures this morning across south central Kansas we have wind chills all day long it. Below 03. Big things was even dead on 97 and thirteen 38. In SS. And it is very very cold out there a side streets are still liable to be ice packed his side streets residential streets. In a wanna be very cautious on those. The main roads are looking better this morning quite a bit better the highways looking quite a bit better but Q what are gonna wanna watch just the occasional slick spot right. And we're seeing a slowdown right now this morning this is on K 96. Approaching high of 135 traffic updates from cape and SS radio. And yet Jesus. Let's take a look at that weather forecast heading into the weekend more cold air today increasing cloudiness high today 23. Degrees with wind chills. Below zero. Will be cloudy tonight and overnight low down to ten degrees looking ahead of the weekend hi tomorrow 23. Warmer on Sunday with a high 41. News. It'll be mostly sunny this weekend but it's pretty cold at night soundness in ten low of ten tonight. Currently in which it's all we have wind out of the north under clear sky nine degrees with a wind chill right now at minus seven. At your weather forecast. Here on any Friday morning headed into the weekend it's an SS weather is brought to you by the monarch featuring perfect patio for conversation and cocktails. Should the weather allow the monarch offers a military discounts for current and retired veterans the monarch in the delay no. Sure they'll open up patio you wanna go out there wanna go out you wanna go up there it's certainly your choice yeah I'm not sure anybody you'll be out there wethy. But you can certainly try it sure. It is 649 with Steve intent on Kate and as tests. The governor of Guatemala. Has been duped by a pair of Russian comedians who pretended to be officials from Ukraine. Should have been a tip off when they sounded like Jack off smeared yeah they posted a YouTube video this week with a phone call recording of the governor of Guam being asked. As being asked about the threat of North Korea's missiles the pranksters then told him the missiles they sold in North Korea were defective it. And assured him that none of the missiles will be able to reach Guam. And they asked him about classified information on whether president trump planned area. A preventive strike at North Korea and warned the governor about concerns of Russia deploying fleets to Guam. Staffers say the governor caught wind of something not being right about part way through the interview. And Betty finished up the call and a professional manner yet these nit wits in Russia. And this guy go on for awhile but a month. Not to have now. I'm sure the people of Guam don't really like to joke about that I imagine not know that's that that's not a money thing to them. In Russia they don't feel north Carey is a threat some of the people in Guam and Hawaii and United States built differently about that. It's 651 was the intent on KNS. As. The new tax bill and me. Let's find out how those dynamics work from money tracker done grant CFP this morning hello Don. Good morning theater we're talking about you do specifically. Cater Hansen's slit. Their basic net. Yes yes just before the end of the year congress passed and the president signed a tax bill that will institutes and sweeping changes. Corporate taxation dropped from 35% to 21%. And for many business owners their companies will be able to write off costly purchases of new equipment and real estate. Individuals and families can benefit as well as there is a doubling of the standard deduction and of the child tax credit. The initial intention was to simplify the tax code but for now at least it may become actually more complicated. As the manner in which you file will remain pretty much the same. The two need to adjust to the new changes. Well if you're divorced after the end of this year and you will be either receiving or paying alimony the person who Haiti's will no longer get a deduction. And the person who receives will no longer take taxes on alimony payments. Most of the changes for corporations are considered permanent but in eight years many of the changes for individuals and families will expire. After 2025. That means the individual tax cuts will be gone unless congress plans to extend them which state saying now that they well that those with the make up of the congress will be at that point time. Mortgage deductions are changing a bit if you take out a new mortgage you'll be allowed to deduct the interest and debt. As high as 750000. Dollars which is that down from one million dollar deduction right now. And taxpayers can no longer deduct all state and local property it may may no longer deduct all state and local property taxes plus some sales put some incumbents or sales taxes the new legislation. Allows for individuals to deduct up to 101000 dollars in property state and local income or sales taxes that that's the limit. There are some very complex changes to pass through partnerships and limited liability companies say LLC these. Too much to explain here essentially service related businesses will not get the big breaks that big corporations well there are several online calculators that you can use to calculate how the new tax bill could affect you just search online it's very easy there's a whole bunch of them and you'll find several of the choose from so do you have any questions you'd give me a call the number 634. You have 222. I looked in to a deducting some of that equipment that I have a the biggest item I have my can opener. Can open out at you from this. Now depends what you mean by the business that. It I don't like I didn't make that or. Garden and well you guys dig something out and actually do this is starting idea consulting business on the side or something you know on the and you needed. I stuff for. That's not a bad idea Don need to meet will give us Google Voice work on the side in me. Yeah yeah up. I'll check into that. I'm maybe too lazy to to do that. Well. You know you want this break you guys now got to work a lot they did you survive yesterday's leader though winter storm. Yeah I guess I didn't. Didn't bite the dust space ward wrote Robert sold shoes and was you know walked kind of like a penguin you know flat footed here. Yeah you know because if you do that you all those things boy you're gonna you're gonna lose it. Now my dad lousy kiddies to have those rubber the rubber bottoms of the right lip over your shoes. Yeah rappers now. Do people do that anymore. I didn't know one person who guys. I don't even awakened by yeah I don't know it is it seems like it's some it's almost gone away and is obsolete anymore madame my dad used to Wear those back in the day going yeah yeah and have a hazard there. Pretty neat little invention. It's all about statement your briefcase exactly like its lead. There were several bank statements and had ice on them that you know and here. Don have a great weekend. Well you to look at what you on the holiday on Monday. Got to thank you that is our money tracker Don grant CFP. Every weekday morning at this time right here. On Stephen Ted in the morning in 987 and thirteen 38 and as as come on back for big 7 o'clock hour weather updates. And will check in on. Wedding season yes even in January seed instead.