CDZ Tax reform: When Will Decent Tax Planning be Possible?

Discussion in 'Clean Debate Zone' started by william the wie, Dec 25, 2017.

  1. william the wie
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    william the wie Gold Member

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    The break even GDP growthrate is @2.4%.We have been in at deficit reduction rates since the election with a compounding of growth rate. Only new production of goods and services count so writedowns in the blue states which will run in the 10s of trillions do not count. The D label should be radioactive by election day. The productive in the Blue states will migrate to the solvent and growing states.
     
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  2. william the wie
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    william the wie Gold Member

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    Making sense of the IRS regulations in regards to SALT and WTO compliant tariffs may take a little longer.and then will come the tax courts.
     
  3. Leo123
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    Leo123 Silver Member

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    Never because politicians will spend all of it and want more. The less we allow them to take, and the less we listen to their claims of being needful or more tax money the more responsible We The People are.
     
  4. danielpalos
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    danielpalos Platinum Member

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    The Peoples' debt is declared Socialized and Congress is responsible for it.
     
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    danielpalos Platinum Member

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    So, welfare queen red States get even more welfare?
     
  6. usmbguest5318
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    usmbguest5318 Gold Member

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    As go challenges in the tax court, yes that will take time to happen. Until then, however, tax professionals will advise their clients of the potential risks associated with a given position, and the clients either will or will not assume the risk attendant to those positions. If your notion of what "decent" tax planning is requires that one have perfect information with regard to the IRS' position on a given position, well, then the answer to your question is "never."

    As goes the letter of the provisions regarding SALT deductibility, that's nothing complicated. Pre-pay 2018's property tax (or pay as much of it one that one can reasonably estimate one will owe) with the plan of expecting to deduct them from one's 2017 income. If it happens that one cannot deduct them, "ask for forgiveness," as it were. If it happens that pre-paying them accords one the full deduction, great. One was going to pay the property tax, assuming one had no intention of moving, regardless of its deductibility.

    As go the impact of H.R.1-2018 on tariff deductibility, I don't know whether the bill included changes to the deductibility of import cost write-offs.

    That said, what on Earth makes you think cadres of tax professionals and experts in a given tax advisory firm will not in the space of a couple weeks suss out, for the overall benefit of all the firm's professionals and clients, the ins and outs of the changes to the tax code? As I said before, they are not laymen starting from scratch.

    Discerning what the tax code changes indicate is not an intensively time consuming undertaking. Adjusting one's firm's tax tactics/strategy is what will take some time, but that is on the firm's managers to do upon obtaining an understanding of what the code changes are and what is their impact. Obtaining the understanding is what's needed to make possible designing the strategy/tactics, aka a tax plan.
     
    Last edited: Jan 2, 2018

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