And, now for the Senate Side

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So, what does the Senate version of this bill (HR-1) do?  By and large, the Senate bill matches HR-1.  But, there are some significant differences.  It’s not clear which house will prevail in their interpretation of the various changes (or that the Senate version passes at all).  But, again,  tax planning is critical-  we need to know what may happen.  We need to discern what changes this Senate version- if it passes- will have in conference, when the House and Senate work out the differences in their versions.

Continue reading And, now for the Senate Side

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I didn’t forget about this…

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Remember how embarrassed a few people were when the Panama Papers (pilfered from the law firm of Mossack Fonseca) were released?   When all those supersecret (and illegal) 214,488 offshore accounts were divulged?  Which is the reason someone car-bombed Daphne Caruana Galizia and murdered her.

Continue reading I didn’t forget about this…

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HR-1, Biz 2

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We are continuing the exploration of the proposed new tax law.  Parts 1 and 2 covered individual taxation issues.  (There was  a preamble, as well.)  Yesterday, we started our discussion of what may happen to business taxes.

Continue reading HR-1, Biz 2

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HR-1, Biz 1

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We’ve seen what could be happening with our personal taxes. (Part 1 here;  part 2 here.  And, the preamble.)  Now, let’s see what changes the House plans for US business taxation.

Continue reading HR-1, Biz 1

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HR 1, too!

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We began discussing the proposed changes to personal tax filings yesterday.  We’ll finish with the changes to the individual tax system today-and then go on to the changes to the business tax filings.

Continue reading HR 1, too!

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HR 1

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Let’s reiterate what I said yesterday– I don’t expect this bill to pass.  Certainly not the way it was presented in the bill.  These posts were written on 2 November- when the bill was published.  Since then, the House has proposed changes to its own bill.  And, 1 week later, the Senate published a slightly different version- which means that I will be adding to this series to contrast the differences between the two bills.  (This series that was 5 blogs will now be 7.)

Continue reading HR 1

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Tax Cuts and Jobs Act. That’s their lie, not mine.

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Let’s be totally clear.  I don’t expect this bill to pass the House and the Senate.  At least not as it’s currently written.   But, y’all should know what are the current thoughts. (I’m being generous here, since so many have no idea what’s in this bill, and that’s for representatives from BOTH parties.  Note further that this was written on 2 November 2017.)

Continue reading Tax Cuts and Jobs Act. That’s their lie, not mine.

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