Re: Good timesYou're absolutely right about the tax situation, as Warren Buffet has noted. "Tax reform" is a huge misnomer. If mortgage deductoin (to name one) is limited or restricted, "tax reform" will be a tax increase for most.
Re: Good timesI agree that it's pointless to talk about taxes -- especially when the talk comes from people or entities that have real tax rates that are lower than the people who work at my local supermarket.
1 - Essentially EVERY small business I talk to runs family expenses through their P&L. That is tax cheating in another way, because people game systems. Set up a system and people will game it. We need to stop talking about it because as far as I can tell every business is somewhere between grey and black on the tax front. Wait till you see some guy run his landscaping through the P&L because he has a home office.
2 - If there is a tax code simplification, it has to come with a reduction in prices. Less Work = Lower Cost = Lower Prices right?
Re: Good timesIf given the choice between keeping the tax rate at 35% with loopholes intact or lowering the rate to 20% and eliminating the loopholes, which option would the whiners take?
Re: Good timesYes, expecially when the myriad of the tricks already on the books allow them to pay virtually no taxes whatsoever across certain segments. Poor little daisies.
Dennis/Kb,
I think you have it right and wrong.
1 - Essentially EVERY small business I talk to runs family expenses through their P&L. That is tax cheating in another way, because people game systems. Set up a system and people will game it. We need to stop talking about it because as far as I can tell every business is somewhere between grey and black on the tax front. Wait till you see some guy run his landscaping through the P&L because he has a home office.
2 - If there is a tax code simplification, it has to come with a reduction in prices. Less Work = Lower Cost = Lower Prices right?
seven