I'm a conservative who believes Biden has won, and, we'll lose the senate. And, just to get ahead of anyone asking why, I simply don't see a viable path for Trump to get 270.

Based off of the tax plan put out by Biden, if your a partner, how much will your income drop/money will you lose? I've seen that his plan focuses around the $400,000 mark, so let's say that's your salary.

I'm not a tax guy, so I don't even know if I have this worded correctly, so go easy on me.

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#1 Biden didn't win, Trump won in a landslide and all of the evidence will be coming out in the court proceedings. In 2000, FL was the state that decided it in the courts...this year we have about 5 or 6 Florida's and the fraud is rampant and profound. Trump will emerge the victor as ruled by SCOTUS sometime in December is my prediction. The news and social media doesn't decide elections.

#2 Biden/Harris (mostly Harris) would definitely raise taxes on EVERYONE. Starts by eliminating Trump's tax cuts which was a universal tax decrease.

likefunny

RSM1, what you’ve just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this thread is now dumber for having read it. I award you no points, and may God have mercy on your soul.

likefunny

I doubt partners took advantage of the QBI deduction. More than likely passed the limits with the SSTB.

BUUUUUT just increase your expenses by giving raises to the staff. 😉😉

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Based on what I could piece together, it appears that under Trump you got a break for being a partnership of 20% which will go away under Biden, as well as increased taxes.

I know there are a lot of nuances to taxes and it's not that simple.

Do you have any concerns about Bidens increased taxes on yourself or the partnership as a whole?

Accounting firms are SSTBs, so with $400k I think there’s a good chance you wouldn’t get the 20% deduction either way

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You learn something new everyday, didn't even know that was a thing.

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