So, a few days ago, we discussed how we can make a good portion of the personal tax base report more of their income and pay more taxes. All without raising a single tax rate.
Tag Archives: corporate taxes
Corporate Taxes
You know it’s coming. There is going to be a clamor- at least from the Democratic Party- to raise the rates on corporate income and those earning at least $ 400K a year.
The situation is becoming untenable
Ah, yes. The truth- and the dangers- are now becoming obvious.
The GOP was desperate to provide a benefit to their benefactors. So, they lowered the corporate tax rates to a ridiculously low 21%. Even though most corporations never paid the much bandied about 35% rate. (Only professional corporations and small businesses got stuck with that level of taxes. Big corporations always hid- and still do- their profits from the tax man.)
And, now for the Senate Side
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.
Everything but…
Everybody’s talking about it and no one is doing a darn thing about it. No, it’s not the weather. It is our tax system.
Tax Changes ARE Coming. How the US should fare.
Yesterday, I explained how the OECD is proposing a tax plan similar to one I’ve been advocating for years.
Continue reading Tax Changes ARE Coming. How the US should fare.