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re: House GOP releases sweeping tax overhaul plan
Posted on 11/2/17 at 9:51 am to notsince98
Posted on 11/2/17 at 9:51 am to notsince98
Just waiting for our resident libs to come comment so I can learn why this plan is terrible.
spoiler, it is because there is a (R) behind it.
spoiler, it is because there is a (R) behind it.
0
Posted on 11/2/17 at 9:51 am to 50_Tiger
quote:
Thanks Oilman, so it looks like from that no change. Better than an increase I guess
I interpret that if m&fj under $1m, you move from 39.6 to 35, have I misunderstood?
Posted on 11/2/17 at 9:53 am to NC_Tigah
This appears better than the framework released in September. I'm glad they maintained the 401K status quo, and the increase in the child tax credit should be enough to off set the loss of the personal exemptions for families.
Posted on 11/2/17 at 9:53 am to AUbused
Posted on 11/2/17 at 9:53 am to LSUOilman
33 -> 35
39.6 stays the same.
39.6 stays the same.
Posted on 11/2/17 at 9:54 am to NC_Tigah
I'm at the point where I don't want to hear about anything under the current income and deduction scheme. It doesn't matter how much they tinker with it, it is a fundamentally flawed and innately inefficient system.
Posted on 11/2/17 at 9:55 am to 50_Tiger
It looks like 39.6 is only for income over 1m going forward
Posted on 11/2/17 at 9:56 am to LSUOilman
quote:
It looks like 39.6 is only for income over 1m going forward
Actually you are correct on that. Wow! hahaha.
Posted on 11/2/17 at 9:56 am to LSUOilman
Still need a lot of details. Any changes to FSA or HSA? Health insurance premiums through employer still pre-tax? A ssuming those things stay the same I see a marginal win for the family of 4, which is still a win.
Posted on 11/2/17 at 9:56 am to LSUOilman
Are lawyers, CPA's and other professionals going to be able to fall under the corporate rate if they are an LLC?
Posted on 11/2/17 at 9:57 am to NC_Tigah
quote:this needs to be axed
allow people to write off the cost of state and local property taxes up to $10,000.”
Posted on 11/2/17 at 9:57 am to BlackAdam
I read where the change is the max that can be deducted is reduced and capped going forward.
This post was edited on 11/2/17 at 9:59 am
Posted on 11/2/17 at 9:58 am to SuperSaint
quote:
this needs to be axed
Why?
Posted on 11/2/17 at 10:02 am to 50_Tiger
We don't need kids. The Democrats want to outsource having children to the third world, then import them here once they get good and Islamified.
Posted on 11/2/17 at 10:03 am to LSUOilman
Max for what exactly... HSA, FSA, premiums? All three. That could be really bad.
Posted on 11/2/17 at 10:03 am to LSUOilman
I can't find that information on any other site and Ive been through about 12 now. At any rate, from the reading that I did it looks like a shite ton of this stuff is still in flux.
Posted on 11/2/17 at 10:04 am to Janky
I bet we will see a lot of changing corporate structures one way or the other.
Posted on 11/2/17 at 10:07 am to NC_Tigah
quote:
The proposal calls for the biggest rewrite of the code in a generation. Its cuts in tax rates on businesses and most individuals will come in exchange for killing scores of narrowly drawn tax breaks.
While I am probably not going to like some of this, this definitely sounds like a lot of the "fairness" that Dems/progs have been screaming for.
Posted on 11/2/17 at 10:10 am to BlackAdam
quote:
Max for what exactly... HSA, FSA, premiums? All three. That could be really bad.
I must have confused with the 10k prop tax cap
Posted on 11/2/17 at 10:13 am to AUbused
quote:
it looks like a shite ton of this stuff is still in flux.
I sure hope so. As it stands now, looks like a huge tax cut for corporations and peanuts for individuals. Really disappointing, but not exacrly surprising coming from the chamber of commerce party
This post was edited on 11/2/17 at 10:15 am
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