Posted on 10/02/2017 5:57:59 PM PDT by Mariner
actually I use the standard form each year and never claimed any beside family and children PERIOD.
Maybe the States should tax your income after deducting ALL Federal Taxes paid? And ALL Local Taxes
Not cutting Fed taxes on nearly all net Fed Tax payers is not proper incentivizing.
The icome levels have not been defined yet as I understand the propoasl so far. What if the new 12% goes all the way to $99K and then 25% thereafter. That will be better than deducted SALT.
I’m sorry, I dont mean to go against the dems especially but I dont think Corporations should pay any taxes. The owners, stockholders and workers are paid a stipend each year and there is where the taxes should come from. Corps create jobs and they should be free to do that and the benefactors of such an endevour pay on their income.
Oh I read the article. I don’t agree with him
Currently each sale is listed for the IRS. I must use more that three pages just for that. Accounting for income from property is also not addressed by this. Itemizing expenses for rentals requires several pages.
There has never been a free market capitalist economy in any country at any time. In fact, we have been a Monopoly Capitalist economy since the 1930s controlled by State-supported huge international corporations.
Communism would have been more successful if it told people what they could buy. It collapsed because it people could NOT buy anything. There was nothing to buy.
Real Estate taxes are a wealth tax of sorts (it’s an incomplete assessment of your wealth and doesn’t account for your actual equity in the property), not an income tax; so it’s not exactly double taxation.....
FR has way too many. Their hatred blocks them from reason.
Then we have the ignorant.
Oh the cruelty of unrecognized hyperbole!
Destroyer of the world! Ravisher of the cosmos!
Yahoo is telling the truth with this story.
I’ve bought many a prop and they know the sale and resale there is your profit what u paid the realtor sorry.
I pay no state income taxes.
What??
Let’s reparable the income tax and go back to tariffs and a national sales tax. I am tired of the financial enema I get every year because of the income tax.
Troll?
What is a troll...you know, according to a proven Social Justice Warrior...
They’re telling half the truth.
The other half is that itemizers tend to be investors so this increase will be offset by higher returns on investments from the corporate tax deduction.
But “Don’t tax me, don’t tax thee, tax that fellow behind the tree.” is, indeed the political rule of all taxation.
Oh, by the way I dont flip. Buy and hold with RE always is good. Today though if I owned in some markets I’d sell for sure. Watch soon it will be sorry
It could be in states with no income taxes. Good point however.
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