Care and Costs are two sides of a coin when it comes to taking care of your loved one. Increasing expenses may cause pressure even to the ones with strong financial background. You may need help from a few expertly approaches to restructure and balance the scenario, in order to avoid depleting your own retirement fund.
The Flat Tax for C-Corporations
Attention Smaller Business Owners - Clearer Guidance on the "Qualified Business Income" Deduction From IRS
Dis-Union: States' Workarounds for the $10,000 Limit on the State and Local Tax Deduction
The 2017 tax law Tax Cut and Jobs Act (TCJA) allows individual tax payers a detailed deduction for state and local income, real property and personal property taxes. For tax years from 2018 through 2025, the TCJA under its sub section, disallows individual tax payers from subtracting more than $10,000 in state and local taxes.
It Came From Under the Ground!
The push for postcard taxes, along with the push for a so-called “flat tax,” are steps towards a bigger goal to eliminate the IRS entirely. But here’s some more uncomfortable reality. Even if we did have a postcard-sized flat-tax form we’d still need someone in Washington to administer it. We’d still need collections officers to chase down the people who don’t pay it. And we’d still need tax cops to catch the people who cheat on it. Much as we love to hate the IRS, it’s not going anywhere soon.
