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.
Tag Archives: tax reform
HR 1, too!
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.
HR 1
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.)
Tax Reform? Maybe…
Tax Reform is all the rage. And, now that the fairy-tale land of budget reconciliation has terminated (it ended on 30 September, where items could pass with a simple majority- which means the Vice President could break any ties), our Congress will now get all hyped about lowering the tax burden (I fear they will offer the rich a tax break, the poor more taxes, the middle class empty promises, and Christmas gifts for big business. We’ll have to see what they really propose.)
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 Reform
These &(#())$ tax forms!
I know you said it. These tax forms are a pain in the …. You probably even said worse.
You complain how difficult it is to figure out how to pay your taxes. Why there are so many forms. Why it takes so long to complete the forms. Or, perhaps you bring your stuff to someone like me to insure they are properly computed- one who enables you to pay the lowest amount of taxes required by law.
We Need This Tax Reform
It’s that time of year again. Where every Senator, Congressman, Businessman clamors for tax reform. Which really is never about tax reform, but about making the playing field more beneficial for someone (their special someone).
How a business can pay no taxes
It’s amazing what can happen when a corporation has a slew of professionals that do nothing but make sure that their tax bill is very low- zero would be ideal. Oh, I know, we all want to pay the lowest amount of taxes- but companies like GE have managed to pay no taxes, in spite of their profits.