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Tax bill means marginal tax rates over 100% for lawyers.
| sticky location puppy | 12/10/17 |
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| Maniacal garrison messiness | 12/12/17 |
| Exciting school | 12/12/17 |
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| Exciting school | 12/12/17 |
| Amber unholy coffee pot | 12/12/17 |
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Date: December 10th, 2017 5:16 PM Author: sticky location puppy Consider, for example, a married, self-employed New Jersey lawyer with three children and earnings of $615,000. Getting $100 in business income beyond that amount would force the lawyer to pay $105.45 in federal and state taxes, according to calculations by the conservative-leaning Tax Foundation. That is more than double the marginal tax rate that household faces today.
If the New Jersey lawyer’s stay-at-home spouse wanted a job, the first $100 of the spouse’s wages would require $107.79 in taxes. And the tax rates for similarly situated residents of California and New York City would be even higher, the Tax Foundation found. Analyses by the Tax Policy Center, which is run by a former Obama administration official, find similar results, with federal marginal rates as high as 85%, and those don’t include items such as state taxes, self-employment taxes or the phase-out of child tax credits.
The bill as written would provide incentives for business owners to shift profits across calendar years, move personal expenses inside the business and engage in other economically unproductive maneuvers, said David Gamage, a tax-law professor at Indiana University. https://www.wsj.com/articles/the-taxman-cometh-senate-bills-marginal-rates-could-top-100-for-some-1512942118 |
Date: December 10th, 2017 5:17 PM Author: gay doobsian area boiling water wonderful bill (http://www.autoadmit.com/thread.php?thread_id=3824034&forum_id=2#34884301) |
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Date: December 10th, 2017 5:18 PM Author: Carmine university kitty cat Awesome. Fuck Libs. (http://www.autoadmit.com/thread.php?thread_id=3824034&forum_id=2#34884305) |
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Date: December 10th, 2017 5:20 PM Author: spectacular glassy police squad cuckoldry people would use their small businesses to write off personal expenses! #taxscam
(((hehe))) |
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Date: December 12th, 2017 2:16 PM Author: harsh black woman cruise ship (http://www.autoadmit.com/thread.php?thread_id=3824034&forum_id=2#34899559) |
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Date: December 12th, 2017 2:22 PM Author: Maniacal garrison messiness Unlike the house bill which doesn’t let any lawyers deduct pass through income, the senate bill lets them get the benefit up to 500k for married mos. so basically as long as they make less than 500k, they get a 23 percent tax credit.
That credit is eliminated as you go above 500k, and is phase out completely very quickly (by 625k or so) resulting in the crazy marginal rates. So i don’t think it’s really unfair, but certainly dumb policy, as it definitely encourages people to stary under 500k. |
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Date: December 12th, 2017 2:22 PM Author: Exciting school Lowell at this insanely hyper specific "gotcha". Although to be fair we doll be better off if all legal were taxt at 100% marginal rate (http://www.autoadmit.com/thread.php?thread_id=3824034&forum_id=2#34899602) |
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Date: December 12th, 2017 3:13 PM Author: Gold 180 Wagecucks Lowell (http://www.autoadmit.com/thread.php?thread_id=3824034&forum_id=2#34899964) |
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Date: December 12th, 2017 3:48 PM Author: Exciting school That's it I'm firing my amanuensis (http://www.autoadmit.com/thread.php?thread_id=3824034&forum_id=2#34900212) |
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Date: December 12th, 2017 3:49 PM Author: Amber unholy coffee pot (http://www.autoadmit.com/thread.php?thread_id=3824034&forum_id=2#34900220) |