Everything you need to know
By Jeff Andrews Dec 20, 2017, 2:15pm EST
Republicans say the Tax Cuts and Jobs Act is a massive tax cut that will spur investment, jobs, and economic growth. But Democrats counter that the bill is a brazen effort to loot the American government, with an eye toward unraveling social safety programs like Medicare, Medicaid, and Social Security.
But having passed the House and Senate, the bill is now a President Trump signature away from becoming the law of the land, so what does it mean for you, the taxpayer?
In the past, tax reform efforts have tried to simplify the tax code and remove special-interest deductions that have become entrenched since the United States ratified the income tax in 1913. The Tax Cuts and Jobs Act makes no attempt to simplify the code; if anything, it does the opposite, introducing new loopholes while making only a minor effort to reel in special interests.
The bill’s primary function is a massive corporate tax cut, dropping the rate from 35 percent to 21 percent. Individuals will get an across-the-board cut as well, albeit small, but in an attempt to offset some of the $1.5 trillion cost, the individual cuts expire after 2025.
How does this impact you? We’ll walk you through the basics:
Thank you to everyone who came to the open house and official launch of The Preserve at Regatta Bay Golf & Yacht Club!
Thank you to everyone who came to the open house and official launch of The Preserve at Regatta Bay Golf & Yacht Club! Congratulations to our raffle winners who won some restaurant gift cards and a brand new Apple watch! Please contact Lindsey Lynch to claim your prize! We would also like to congratulate Royce Mitchell’s Emerald Coast - Destin 30A Real Estate office for winning the $200 luncheon!
The sluggishness of 2017 is about to end as consumers see residential real estate as a solid investment once again.
Housing was the epicenter of the last recession. From the peak in 2005 to the end of the contraction in mid-2009, U.S. residential investment declined at an unprecedented rate of about 20 percent a year. In normal business cycles, sectors that overshoot to the downside tend to rebound sharply. Given the significant oversupply of homes and tightening of credit, housing enjoyed no such recovery. Residential investment was essentially flat for almost two years after the recession ended. Since then, a slow recovery has been underway and we suspect the housing market will pick up in the year ahead.
Lindsey Lynch, VP of Sales and Marketing
Destin Custom Home Builders is the residential construction company for Legendary, LLC, a leading developer of property in Northwest Florida for more than 35 years. The company prides itself on using the most current technology, relevant to each project, and on keeping quality and attention to detail its highest priority. Through their connections with area vendors and award winning partners, Destin Custom Home Builders continues to deliver top-quality homes of great and lasting value.
Emerald Coast Magazine recently sat down with VP of sales and marketing Lyndsey Lynch. Read more from the attached article.