Penalizes workers? Workers whom presumably pay personal income tax as well. How is that a loop hole - a rhetorical one manufactured by lefty propaganda machines?
Cool! How do I take advantage of this?
Beware comrades. The Republicans are going to kill the proletariat.
The pass through promotes capitalist profits at the expense of the workers who’s sweat actually earned them.
The deserving workers get no pass through
“Where’s my Obamaphone!?!”
This is nonsense! We have commercial property. We are not a corporate entity. Our net income from our business comes over to the main page of our tax return from Schedule E. Other kinds of small sole-proprietorships do likewise on Schedule C. Nothing will change for us except in the area of Schedule A deductions where there will be limitations on non-Federal tax amounts that can be claimed.
So what? If it’s immediately passed thru then it’s taxed to the owner on his personal return.
Looks like the number of startups will take off like a rocket, spurring investment.
A “loophole” occurs whenever anyone is allowed to keep money they earned.
That doesn’t sound like a “loophole”.
Those who live their lives in envy and jealousy about the other guy having something they don’t have, or getting a better break or a better deal than they have end up bitter and miserable and wasting their days - like democrats.
It is not a loophole, it is the law. I hate it when lefty buttwipes call laws loopholes.
Sounds like a tax code adaptation to the “Gig Economy”. People like Uber drivers will benefit from this. Is the “Gig Economy” really a good thing? Well, that’s for the market of millions of individuals to decide.
Loophole? Or is it really a design feature?
My definition of loophole is when people find quitksnin the law that allows them to lower tax liabilities in a way that was not intended by the law.
This was intentional and seeks to stimulate entrepreneurs.
Calling it a loophole is an attempt to demonize and stir class warfare.
I hate income taxes because it documents people’s income. That is the first step to starting class envy.
Are women and minorities hardest hit? It isn’t worth doing if women and minorities aren’t hardest hit!
L A Times proves it does not know what a loophole is.
“in part because it is so complex, will ultimately reward those who can afford the best tax advice.”
Not to worry, TurboTax will be all over this. Wait and see. I ran a Sub-S for 5 years after I retired, and I couldn’t have done it without TurboTax.
Terrible thought turning decision making back to the taxpayer versus the State. God forbid!