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Anyone have a recommended tax person in Chicago?
Community Builder
Personal finance book recommendations?
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Any comparison of M&A in practice vs in-house?
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How much amount does EY Australia pay/ reimburse for relocation from a country in South East Asia? My question is for a Manager position if the amount changes with designations.
Alternatively, do they offer an option to provide relocation services from one of their vendors instead of reimbursing the relocation expenses. Your response will be very helpful! EY
Any female fish willing to give some advice?
Additional Posts in Londoners in Consulting
How do MBB/T2/big 4 firms compare on non salary benefits ? Key data points I personally find important are:
- Transport support (season tickets etc)
- housing subsidy
- private healthcare/ dentists
- food
- office facilities (gym/shower/sleeping pods)
McKinsey & Company L.E.K. Consulting Oliver Wyman Bain & Company Boston Consulting Group PwC Kearney etc
Rising Star
PWC fish - would anyone be open to referring me?
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Chief
Simple, to let the rich get richer
Wait until you hear about capital gains
Pro
The shareholders who receive dividends from the company have to pay tax on these. Therefore if you look at the ultimate beneficiary, the corp tax is just one level of tax on profits. Also businesses pay other taxes: employer NI is higher than employee NI, business rates much higher than council tax.
Not saying it’s all perfect, it’s just more complicated than a simple comparison of headline rates.
It’s not paid for by the consumer - input/output is netted off and the company pay VAT/receive a rebate dependent on the outstanding balance. And above a certain revenue threshold, a VAT return is completed quarterly.
Employee remuneration is an admin expense which impacts the profit line. And so if you know that you’re going to get taxed more on profit, you’re more inclined to make that number smaller in the interests of boosting post tax profit number. Especially for smaller businesses for whom profit is everything
Because taxes are not decided based on fairness, rather necessity by the government to align their revenues. Most innovations in tax policy happen after a war or crisis, as the immediacy of e.g. sovereign debt default overcomes any kind of short term incentive to keep taxes nominally low and score points with the public.
That being said, in practice the process is highly politicised. See the P&O ferry employees being exempted from requiring minimum wage (and of course NI contributions), that sort of tweaking of scope and applicability is what leaves most smaller individuals trapped, and wealthier ones existing in more tax efficient ways.
Well as salaried person you work hard, pay taxes and then pay some more. You will not get rich unless you start a business.
Even contractors who do work using limited company earn a lot because of the way taxation works.
Community Builder
You should be asking why personal income tax is so high. Don’t try to balance it out by raising on or the other.