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jmowreader

(53,029 posts)

43. It would discourage buying new equipment, too

Fri Sep 29, 2017, 11:47 AM

Sep 2017

If my company buys the new forklift it needs, we sure as hell aren’t going to take it out of petty cash. And as with homeownership, many businesses factor the deduction into their affordability calculations.

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The itemized deductions Trump plans to eliminate [View all] jmowreader Sep 2017 OP

K&R DBoon Sep 2017 #1

the wealthy need more money Angry Dragon Sep 2017 #2

swap out "all" for "more" and you're getting closer. TeamPooka Sep 2017 #18

Said this in January, Wellstone ruled Sep 2017 #3

I heard the personal exemption would go away under his plan. Ilsa Sep 2017 #4

That's actually a brilliant idea. PoindexterOglethorpe Sep 2017 #7

Don't try it without consulting an attorney well-versed in tax code. Ms. Toad Sep 2017 #23

Yeah, I'd hope the poster thinking of this does that. PoindexterOglethorpe Sep 2017 #26

Reciprocal gifts Cary Sep 2017 #27

Start a charity, fund it, PoindexterOglethorpe Sep 2017 #28

Form 1023 Cary Sep 2017 #31

The personal exemption is not going anywhere. former9thward Sep 2017 #20

Google where? creeksneakers2 Sep 2017 #32

Well the OP was certain what was in it. former9thward Sep 2017 #40

The OP read Trumps prospectus jmowreader Sep 2017 #42

Its not speculative creeksneakers2 Sep 2017 #46

Page four does not give any tax details for a real life taxpayer. former9thward Sep 2017 #48

Here's a real life situation creeksneakers2 Sep 2017 #49

Yes I need an example. former9thward Sep 2017 #50

Ummm, no. That would be tax fraud. marybourg Sep 2017 #53

Some of those are going to hit small businesses hard underpants Sep 2017 #5

Some will hit large businesses hard jmowreader Sep 2017 #9

That's actually a good one Sgent Sep 2017 #16

It Also Encourages Hyper-Consolidation ProfessorGAC Sep 2017 #38

It would discourage buying new equipment, too jmowreader Sep 2017 #43

Haven't been able to itemize for years MichMan Sep 2017 #6

how is it that the media insists on calling this a tax cut? unblock Sep 2017 #8

Doubling of the standard deduction. former9thward Sep 2017 #21

Yes ymmv and there will be winners and losers unblock Sep 2017 #22

That is the one part I do like of it. roamer65 Sep 2017 #34

Neither party will ever go for that. former9thward Sep 2017 #41

They plan to limit personal deductions to zero jmowreader Sep 2017 #44

That only hurts poor families more. moriah Sep 2017 #52

No, it will RAISE taxes for many jmowreader Sep 2017 #55

It's more of a tax shift. roamer65 Sep 2017 #35

"truly insane"---Only if one doesn't know the purpose! WinkyDink Sep 2017 #37

Raising your taxes!!!!! Left-over Sep 2017 #10

This will win the Dems the house in 2018 if it passes Johonny Sep 2017 #11

Until all forms of compensation is treated as regular income, taxes are going to be a scam. nt fleabiscuit Sep 2017 #12

I run a Business out of my home. How will this affect me? ProudMNDemocrat Sep 2017 #13

If you run a business.... Kensan Sep 2017 #15

I do that already as you stated. ProudMNDemocrat Sep 2017 #19

Because we havent seen the bill, we dont know jmowreader Sep 2017 #45

There's going to be a lot of lobbying going on.... Kensan Sep 2017 #14

With Sgent Sep 2017 #17

Never mind Yo_Mama_Been_Loggin Sep 2017 #24

The plan is also to raise the lowest tax bracket from 10 to 12 percent on taxable income. LiberalFighter Sep 2017 #25

People have already hurt people when Congress cut medical and dental deductions cut by only still_one Sep 2017 #29

So when do the trickle down benefits from the Reagan era kick in ? nocalflea Sep 2017 #30

Don't forget creeksneakers2 Sep 2017 #33

I'm so glad Trump is getting rid of the last deduction on this list. Bluepinky Sep 2017 #36

Medicare and Medicaid are going bye bye, disabled people will be .... Eliot Rosewater Sep 2017 #51

I remember how he mocked a disabled reporter at one of his rallies. Bluepinky Sep 2017 #56

Most of these don't matter for the middle class Drahthaardogs Sep 2017 #39

Medical and dental is a big deal to those on the individual market. OldHippieChick Sep 2017 #47

This need to be leaked to all the rubes. DK504 Sep 2017 #54