High-Income Business Owners Escape $10,000 Tax Deduction Cap Using Path Built by States, Trump Administration

  • 📰 WSJ
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

High-income business owners—aided by states and the IRS—are finding a path around the $10,000 cap on the state and local deduction

on the state and local tax deduction would benefit the rich too much, but some of America’s top earners—including private-equity managers and law firm partners—are already legally circumventing the cap on much of

their income.for owners of closely held businesses that is proliferating around the country. So far, about 20 states have enacted versions of it, including New York, California, Connecticut, New Jersey and Illinois.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

INFRASRUCTURE BernieSanders calls for restore DEMOCRACY to the American PEOPLE by replacing Representative-Town Council-Mayor-Governor-Senator with US CITIZENS renewed at parity by DRAWING LOTS each 2 MONTHS entitling to compensation ($125/day) + job training & accommodation

'CHEEMS INU IS BSC's $SHIB or $DOGE. I haven't seen a community or hype like this on BSC. This thing has potential to 10x-100x in the next few weeks like $SHIB or $DOGE. CheemsInu CheemsInu. Put in $1000 now, or regret it in January.'

Want to sell your products on USA Amazon, Ebay or Etsy? We can incorporate a US LLC ir INC for you within 48 hours

How do you think most of these rich people got rich. It was not true hard work and perseverance. It was not treating your employees with respect and trickling down the tax breaks and stock breaks these business people got. It was by cheating and/or breaking the law.

Looting.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines