Tax Reform

1111213141517»

Comments

  • Halifax2TheMaxHalifax2TheMax Posts: 13,426
    I thought that tax cut was going to lead to 4% growth year over year and pay for itself?

    https://www.boston.com/news/politics/2018/05/30/us-economic-growth-revised-down-to-2-2-percent-rate-in-q1
    09/15/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/29/08, 06/30/08, Mansfield, MA; 08/18/08, O2 London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL;

    "If you're looking down on someone, it better be to extend them a hand to lift them up."

    Libtardaplorable©. And proud of it.

    Brilliantati©
  • mrussel1mrussel1 Posts: 8,906
     How about we compound that issue with the least surprising news all year ..

    http://thehill.com/policy/finance/391295-us-deficit-surges-to-530-billion-in-may-cbo
  • Halifax2TheMaxHalifax2TheMax Posts: 13,426
    mrussel1 said:
     How about we compound that issue with the least surprising news all year ..

    http://thehill.com/policy/finance/391295-us-deficit-surges-to-530-billion-in-may-cbo
    Randy Paul randstanding on the floor of the senate? The Obama phones are gone. What is Team Trump Treason going to cut next?
    09/15/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/29/08, 06/30/08, Mansfield, MA; 08/18/08, O2 London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL;

    "If you're looking down on someone, it better be to extend them a hand to lift them up."

    Libtardaplorable©. And proud of it.

    Brilliantati©
  • mookeywrenchmookeywrench Posts: 5,249
    Halfway through the year....people entitled to the Qualified business income tax deduction need to have roughly 40% of their estimated tax liability paid in by next Friday.

    And still no clarifications have been offered on how this deduction works or what a specified business is.

    Thanks IRS, doing great as always. 
    350x700px-LL-d2f49cb4_vinyl-needle-scu-e1356666258495.jpeg
  • Gern BlanstenGern Blansten Your Mom'sPosts: 7,052
    Halfway through the year....people entitled to the Qualified business income tax deduction need to have roughly 40% of their estimated tax liability paid in by next Friday.

    And still no clarifications have been offered on how this deduction works or what a specified business is.

    Thanks IRS, doing great as always. 
    huh....it's all very clear on my end. 

    Basically net income x 20% is the deduction.  Certain service businesses (lawyers, doctors, accountants, etc) have a deduction phase out once their net income hits a certain point (roughly $160K single, $330K MFJ)

    https://www.thetaxadviser.com/issues/2018/apr/understanding-sec-199A-business-income-deduction.html
    Former BernieBro, turned Hillary rotten Clinton #1 Fanboy

    1998: Noblesville
    2003: Noblesville
    2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville
    2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago
    2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1
  • mookeywrenchmookeywrench Posts: 5,249
    That's the basics. Gets more complicated than that though when you have clients in gray area service industries, multiple pass through entities.... some with losses, some with income. Then theres the whole rental income issue and if that's a business or an investment.
    350x700px-LL-d2f49cb4_vinyl-needle-scu-e1356666258495.jpeg
  • Gern BlanstenGern Blansten Your Mom'sPosts: 7,052
    That's the basics. Gets more complicated than that though when you have clients in gray area service industries, multiple pass through entities.... some with losses, some with income. Then theres the whole rental income issue and if that's a business or an investment.
    ok so you are referring to some nuances there.  Above you acted like there was nothing describing it at all.

    I've already been to 4 seminars that discuss the new shit.  There is always gray areas until items get clarified.


    Former BernieBro, turned Hillary rotten Clinton #1 Fanboy

    1998: Noblesville
    2003: Noblesville
    2009: EV Nashville, Chicago, Chicago
    2010: St Louis, Columbus, Noblesville
    2011: EV Chicago, East Troy, East Troy
    2013: London ON, Chicago
    2014: Cincy, St Louis, Moline (NO CODE)
    2016: Lexington, Wrigley #1
  • Halifax2TheMaxHalifax2TheMax Posts: 13,426
    Just a reminder of who really benefits from the Team Trump Treason tax bill.

    https://www.npr.org/2017/12/19/571754894/charts-see-how-much-of-gop-tax-cuts-will-go-to-the-middle-class
    09/15/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/29/08, 06/30/08, Mansfield, MA; 08/18/08, O2 London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL;

    "If you're looking down on someone, it better be to extend them a hand to lift them up."

    Libtardaplorable©. And proud of it.

    Brilliantati©
Sign In or Register to comment.