What do you guys know about the new tax bill, how does it affect you, and what do you like or dislike about it?
To early to tell for me, first we need to figure out which source is actually putting out the correct info.
For me I will meet with my accountant in 2 weeks and I’ll know exactly what advantages or disadvantages I would have personally.
I’m not looking forward to the meeting as we made more than we wanted which puts us too far into the next tax bracket and doesn’t really justify the higher annual sales.
I do realise not everyone will benefit and I’m not looking for necessarily my individual rate to change too much.
I think the intent is too many people and businesses pay high rates while others pay nothing or little.
Fixable, probably not it’s too complicated of a system and has been designed that way.
I like the plan to cut corporate taxes from 35 to 20. That will be awesome for our economy.
I also like the idea of the government doing with less. They’re like a crackhead robbing producers while funding some of the stupidest things you can think of. For example, in 2012 they spent 750,000 to build a soccer field at club gitmo.
I also like the idea of pulling back the curtain on all these high tax (liberal) states with not allowing them to deduct state taxes.
Anytime the crackheads start bellyaching about “how are we going to pay for this (crack)?” it makes me happy because it means I get to keep MY money and it never occurs to them that they can do with less.
Ok that pissed me off, let’s give terrorists and traitors something to do like play soccer, instead of thinking about what they did wrong.
Some of the things they spend money on really is unbievable.
Most people don’t have a clue what goes on with government spending is the issue.
Spend your business dollars before 12/31…
After that, you can’t claim them as deductions anymore.
Sounds like fake news. Where did you see that? I mean I’m all for people stocking up on screen washers before the eoy.
…I’ll take 6 dozen of them…
Yeah, wet towelis a lot cheaper.
After my year-end meeting with accountant, the new tax bill would save me $10,000. for 2018 if financials were same as 2017. Loose some write offs but gain some others. I’m currently paying 35% tax rate.