Taxes in brief

Even if you don't agree with Elaine's specific recommendations (though I do) - today's BTC analysis is well worth the read.

Comments

I've not found a good explanation of the income tax surcharge

Of course, a final bill hasn't been published yet, but what are the loopholes to this?

It's being reported that this is being written as a surcharge for individuals and corporations that have underpaid (withheld) at year end or quarter end.

So, if they've overpaid by that time, it won't apply? It must just be too early. What am I missing?

Is this a corporate tax dodge for those that have accountants/lawyers smart enough to figure it out?

How can a typical individual access this tax break by year/quarter end (increase withholding by employer)?

We all understand how regressive a sales tax is, but just how regressive is this supposedly-somewhat-more-progressive income tax surcharge?

 

I hope Elaine will stop by and answer your questions

n/t

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“Don't tell me what you value, show me your budget, and I'll tell you what you value.”
― Joe Biden

Binker's report on taxes here

http://www.news-record.com/blog/53964/entry/64906

____________________________________

“Don't tell me what you value, show me your budget, and I'll tell you what you value.”
― Joe Biden

Perdue threatens veto of tax package

Binker reads the tea leaves

____________________________________

“Don't tell me what you value, show me your budget, and I'll tell you what you value.”
― Joe Biden