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The Republican tax bill gives $1,000 to each new baby born for four years.
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Will Trump's megabill help Democrats win the House? NPRStates Brace for Added Burdens of Trump's Tax and Spending Law The New York TimesThe next megabill Congress needs to worry about PoliticoHow your income taxes will change after Trump signs the ‘big, beautiful bill' into law The Hill
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The GOP megabill has new tax breaks aimed at low- and moderate-income households, and spending cuts that could make it harder for some to receive public assistance or hold onto health insurance.
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The highest earners in Wyoming, South Dakota and Texas stand to get a tax cut of more than $100,000, according to the Institute on Taxation and Economic Policy.
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The rideshare program has pitted disability advocates against organized labor, which sees the program as a way for Pace to outsource union jobs to poorly compensated gig workers at taxpayer expense.
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Congress passed the tax cut and spending megabill with President Trump's legislative priorities which includes new tax exemptions for tipped hourly workers. But how will it work?
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The legislation has big implications for seniors, families, Medicaid recipients, immigrants and others.
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It's no surprise that many people who inherit millions of dollars are uncertain about what to do with their newfound wealth. The possibilities of becoming a multimillionaire overnight can be overwhelming, especially during a period when most are grieving the loss of a parent or other loved one.
SEE MORE How Much of Your Estate Will Be Lost to Taxes?
I often work with people in many different age groups who have suddenly become wealthy as the result of a windfall inheritance. While there is a need to develop a comprehensive financial plan, it's not the first step. Instead, I try to determine each person's starting point with money. Many people fall into one of three categories:
They are anticipating how they will handle their wealth, but the money hasn't yet arrived.They have their inheritance — often several million dollars — but they are still grieving the loss of a loved one and are looking for guidance on next steps.
The inheritance has been in their bank account for a long period, but they still lack direction and can't make any decisions.
It is important to listen to each person's personal story with a windfall of money. Losing an important person in your life is difficult, and reflecting on the impact that person made is just as important. Many people express a desire to do something to honor a parent's wishes.
Figuring out how to make the best use of an inheritance
Here is how I generally approach these conversations to help a person make the best use of their inheritance:
Define their relat
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