Posted on 11/11/2019 6:30:02 AM PST by tired&retired
See my post #51, please.
See my post #51, please.
See my post #51, please.
In many ways, the Trump tax reform bill moved us in the direction of a “Fair Tax” by elimination of many deductions or capping them like SALT and raising the deduction for everyone.
After Trump/Pence win in 2020, we’ll need to go the rest of the way to FAIRtax!
Pence was a co-sponsor of FAIRtax when he was a Congressman!
My past clients include thousands of 4029 exempt based upon religious objection to public insurance.
Talk about unfair... many of them are contractors competing against non exempt.
The 4029 exempt pay no SE tax of roughly 15% on themselves or their employees.
They pay no workman’s comp insurance which is usually around 30% in the roofing trades.
They don’t pay unemployment insurance.
They don’t pay health insurance. They were even exempt from Obamacare.
The end result is that they have a huge unfair advantage over any non exempt contractors.
It was ok when they worked on their farms, but most have now entered the trades.
What are “4029 exempt” persons, and why are they exempt?
Form 4029 is used by members of recognized religious groups to apply for exemption from social security and Medicare taxes. ... You are not eligible for this exemption if you received social security benefits or payments, or if anyone else received these benefits or payments based on your wages or self-employment income.
Form 4361, Application for Exemption From Self-Employment Tax for Use by Ministers, Members of Religious Orders and Christian Science Practitioners.
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