The new tax bill.

[moneysense]

How is this new $858B tax bill going to effect you? Well here are some of the ways.

For one thing, you will still bring more money home in your pay check as the social security taxes are still cut.

Other ways this bill will effect you are as follows.

The child tax credit was $500 and has now been changed to $1000.

Tax rates are being continued at the current levels.

For those of you making under $90,000 a year, the $2,500 credit for colleged tuition is still in effect.

They have eliminated the tax break for those making over $250,000 a year.

It is rather good to see that the higher earners wont have all of the tax breaks as they used to get.