I think what is particularly bad is that certain individuals who are in effect businesses, are no longer to allowed to deduct business expenses.
Of course, most of them will probably incorporate.
It’s OK, you’re Goyim and you’ll just have to get used to it.
Just like Gruber pulled off, Mnuchin and Cohn have just given W-2 workers a permanent tax increase that they have no way of mitigating.
Don’t understand that. If they’re filing as a business and no longer under themselves, they’ll come out much better.
I lost my individual health insurance policy this year, and just signed up for another one. The only actual insurance company left in my state that does individual policies (not an HMO, etc.). Of course I’m paying for it (50% more than last year just on the premiums). I had contemplated becoming a “corporation” - but it all seems pretty complicated for a one-man outfit like me. I would need to pay myself a wage every month, keep all the records, fill out the various forms every month, etc.
I believe that this new bill won’t even allow me to deduct my $29,000 a year medical premium, so I’m getting screwed both ways. I guess I’ll need to incorporate. Of course I’m screwed triple - unless they allow “new” corporations to purchase health insurance outside of the Nov - Dec window.