If TCJA gets reversed I will shoot myself

likefunnysmart
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We can shoot each other.

likehelpfulfunny

Ok. I will shoot you first. You next.

likefunny

I feel this on so many levels

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I just want my state tax deduction back

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If it gets reversed we all have jobs for at least another year. I’m down for it.

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I lost my state deduction but also got out of amt. Trumps tax cuts saved us 10k a year but even with that I can't vote for him this time around.

likefunnyuplifting

I only work on handful of individuals and all of them make 1M+ and none of their taxes really went down with the 2017 tax act. They pay a lot in property and state income taxes and the loss of that deduction offset the lower 2.6 decrease in overall rate. As a result if they increase the top rate they likely won’t increase the tax cap. Of course they could pay it where you could claim more if you have under 200k or something but chances are it won’t help many.

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No, Biden’s proposal would not change the complexities of the law, it just proposes an increase of rates. How the law functions will be same. (199a, 163J) etc

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Fr tho 😒

SALT limitation is going away. Dems hate it and GOP loves cutting taxes. Every time a bill or an amendment is introduced on it, always at least 20-40 Co sponsors with a mix of Dems/GOP members.

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No way the salt limitation goes away. Maybe it gets indexed to local COL or something, but it’s not getting repealed.

TCJA isn’t getting reversed. All of the tax increases and anti-base erosion parts are staying. Rates will go up. Maybe the increased standard deduction goes back, but the higher one seems to be streamlining more returns.

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Just another reason to reelect DT. MAGA

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I feel BT1 is just mocking stereotypical trump supporters.

Is that what Biden is proposing?

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I’m getting out of tax - f this

https://www.atr.org/kamala-harris-when-i-enter-office-i-will-repeal-tcja?amp

Dems are gonna treate tcja like repubs are treating Obamacare. They say they want to get rid of it but they secretly need to keep it. They're only gonna change the corp rate and individual rules.

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likeuplifting

Anyone got any exit opp ideas for after busy season, I’m on day two and ready to rage quit

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