Top Medicare tax went from 1.45% to 2.35%
Top Income tax bracket went from 35% to 39.6%
Top Income payroll tax went from 37.4% to 52.2%
Capital Gains tax went from 15% to 28%
Dividends tax went from 15% to 39.6%
Estate tax went from 0% to 55%
How about telling me about reduced spending instead, so I get to spend some of MY money instead of you jerks taking it to give free cell phones to deadbeats to buy some votes!
Thanks for data.
Oh wait to you hear what they have done to small businesses, aka Form 3115...
This is a "FR exclusive" as I got of the phone with the lesser half of my CPA gnome...
New ruling, a certain 3 letter organization wants small businesses too:
* Not expensing any capital goods over $500.
* They want them to depreciate them all (Marcs) above $500.
* They might want them to go back and change many years of this.
* No statue of limitation as to how far back they can go.
* If the CPA's screw up they could have fines up to $1000 and loose that title.
* It could take days to do taxes and the revamps could take a month.
The CPA world has asked , please reconsider with revisions.
This will potentially crush many a small business.
I Need FR CPA wonks to confirm all this, please spread the word.