A Tax Act What does the latest tax cut mean for your bottom line?
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The tax cut approved this summer by Congress should probably becalled the "Now You See It, Now You Don't" Act of2003. Virtually every provision in the new law is subject to aconfusing mishmash of sunset provisions.
Fortunately, the most significant money savers in thelegislation-at least for now-are relatively simple. Leaving asideincreased deductions and depreciation schedules for businesses(TaxTalk), the key changes involve marginal tax rates, childcredits, the so-called marriage penalty and investment-relatedtaxes. The biggest winners, says tax analyst Mark Luscombe of CCHInc., a provider of tax and business information and software inRiverwoods, Illinois, are investors and married couples withchildren.
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