Here-is-what-will-happen-on---january-1-2015---top-medicare-tax---went-from-145-to-235---top-income---tax-bracket-went-from-35-to-396---top---income-payroll-tax-went-from-374-to---522---capital-gains-tax-went-from---15-to-28---dividends-tax-went-from-15-- posts
The Wall Street Journal The taxes the Senate GOP plan would remove were created to pay for Obamacare. The most notable is a 3.8% tax on investment income, including capital gains and dividends. The tax only applies to individuals with incomes exceeding $200,000 and married Read more ... couples making more than $250,000.
Senate Health Bill Gives Huge Tax Cuts to Businesses, High-Income Households
wsj.com
The Senate’s health-care bill repeals hundreds of billions of dollars in taxes on businesses and high-income households and includes a retroactive cut in capital-gains taxes.
112 months ago
The Wall Street Journal Major changes are likely for taxes on individuals’ investment income such as capital gains and dividends next year, when Republicans will control both the White House and Congress.
What to Do Now, Before the Tax on Capital Gains Is Cut
wsj.com
High-earning American taxpayers are likely to benefit from a significant rate drop for capital gains in 2017. That’s because major changes are likely for taxes on individuals’ investment income such as capital gains and dividends next year, when Read more ... Republicans will control both the White House and Cong...
119 months ago
CNNMoney Many people complain about paying too much in federal income taxes. But it turns out that a majority of U.S. tax filers actually pay less in income taxes than they do in payroll taxes, which fund Social Security and Medicare. http://cnnmon.ie/2dABCBo
121 months ago
CNNMoney Many people complain about paying too much in federal income taxes. But it turns out that a majority of U.S. tax filers actually pay less in income taxes than they do in payroll taxes, which fund Social Security and Medicare. http://cnnmon.ie/2d7eNXQ
121 months ago
CNNMoney Many people complain about paying too much in federal income taxes. But it turns out that a majority of U.S. tax filers actually pay less in income taxes than they do in payroll taxes, which fund Social Security and Medicare. http://cnnmon.ie/2cbKUFi
122 months ago
Melissa Mastrianni Trump’s Tax Plan Is Right:
Most Americans Should Pay NO Income Tax
Republican Presidential candidate Donald Trump is a successful businessman. He works hard, and does whatever he can to pay the minimal amount of taxes to President Barack Obama.
N Read more ... ow, as Trump announced in his book “Time to Get Tough: Making America #1 Again,” we learn Donald Trump’s bold and specific plans to completely restructure America’s tax code. And after the changes are made, every American will end up paying lower taxes.
Individual Income Tax Brackets
Under Donald Trump’s Tax Plan
0%, 10%, 20% & 25% - ⭐️⭐️⭐️⭐️⭐️
Single $0.00 - $25,000 = 0%
Married $0.00 - $50,000 = 0%
Head of Household $0.00 = $37,500 = 0%
Single $25,000 - $50,000 = 10%
Married $50,000 - $100,000 = 10%
Head of Household $37,500 - $75,000 = 10%
Single $50,000 - $150,000 = 20%
(15% dividends & capital gains)
Married $100,000 - $300,000 = 20%
(15% dividends & capital gains)
Head of Household $75,000 - $225,000 = 20%
(15% dividends & capital gains)
Single $150,000 and up = 25%
(20% dividends & capital gains)
Married $300,000 and up = 25%
(20% dividends & capital gains)
Head of Household $225,000 and up = 25%
(20% dividends & capital gains)
Steepens the curve of the Personal Exemption Phase-out (PEP) and the Pease Limitation on itemized deductions.
Eliminates the Alternative Minimum Tax.
Eliminates the Net Investment Income Tax of 3.8 percent, which was passed as part of the Affordable Care Act.
Taxes carried interest at ordinary income tax rates instead of capital gains and dividends tax rates.
Phases out the tax exemption on life insurance interest.
Business Tax Changes
Cuts the corporate income tax rate from the current 35 percent to 15 percent.
Ends the deferral of income from controlled foreign subsidiaries, but preserves the foreign tax credit. It would also enact, as a transitional revenue raiser, a one-time deemed repatriation tax of 10 percent on all foreign profits currently deferred.
Taxes pass-through businesses at the rate of 15 percent commensurate with the traditional corporations.
Caps the deductibility of interest expenses.
In the book, Trump decried the current tax code: “Imagine your paycheck was 40 percent higher than it currently is. What could you do with 40 percent more wealth? How many jobs and opportunities for others could you create?
Trump spoke out strongly against the shameful way America’s government spends your and my hard-earned tax dollars, which we all pay every year in April. As Trump noted, “But the other reason is that I hate the way our government spends our taxes. I hate the way they waste our money, trillions and trillions of dollars of waste and abuse. And I hate it.”
The great thing about this plan is everyone’s tax bill, which will be lower, can be filled out on the back of a post card. Just think how many billions of dollars that will save individuals and small business owners in fees to accountants and tax-preparation companies. That’s money saved which can be put to more productive, job-creating things.
Every dollar saved by this reform goes back into the pocket of businesses and workers, who can provide for their families, invest, and spend as they see fit. We can certainly spend our money better than Washington, D.C. can.
122 months ago
Melissa Mastrianni Trump’s Tax Plan Is Right:
Most Americans Should Pay NO Income Tax
Republican Presidential candidate Donald Trump is a successful businessman. He works hard, and does whatever he can to pay the minimal amount of taxes to President Barack Obama.
N Read more ... ow, as Trump announced in his book “Time to Get Tough: Making America #1 Again,” we learn Donald Trump’s bold and specific plans to completely restructure America’s tax code. And after the changes are made, every American will end up paying lower taxes.
Individual Income Tax Brackets
Under Donald Trump’s Tax Plan
0%, 10%, 20% & 25% - ⭐️⭐️⭐️⭐️⭐️
Single $0.00 - $25,000 = 0%
Married $0.00 - $50,000 = 0%
Head of Household $0.00 = $37,500 = 0%
Single $25,000 - $50,000 = 10%
Married $50,000 - $100,000 = 10%
Head of Household $37,500 - $75,000 = 10%
Single $50,000 - $150,000 = 20%
(15% dividends & capital gains)
Married $100,000 - $300,000 = 20%
(15% dividends & capital gains)
Head of Household $75,000 - $225,000 = 20%
(15% dividends & capital gains)
Single $150,000 and up = 25%
(20% dividends & capital gains)
Married $300,000 and up = 25%
(20% dividends & capital gains)
Head of Household $225,000 and up = 25%
(20% dividends & capital gains)
Steepens the curve of the Personal Exemption Phase-out (PEP) and the Pease Limitation on itemized deductions.
Eliminates the Alternative Minimum Tax.
Eliminates the Net Investment Income Tax of 3.8 percent, which was passed as part of the Affordable Care Act.
Taxes carried interest at ordinary income tax rates instead of capital gains and dividends tax rates.
Phases out the tax exemption on life insurance interest.
Business Tax Changes
Cuts the corporate income tax rate from the current 35 percent to 15 percent.
Ends the deferral of income from controlled foreign subsidiaries, but preserves the foreign tax credit. It would also enact, as a transitional revenue raiser, a one-time deemed repatriation tax of 10 percent on all foreign profits currently deferred.
Taxes pass-through businesses at the rate of 15 percent commensurate with the traditional corporations.
Caps the deductibility of interest expenses.
In the book, Trump decried the current tax code: “Imagine your paycheck was 40 percent higher than it currently is. What could you do with 40 percent more wealth? How many jobs and opportunities for others could you create?
Trump spoke out strongly against the shameful way America’s government spends your and my hard-earned tax dollars, which we all pay every year in April. As Trump noted, “But the other reason is that I hate the way our government spends our taxes. I hate the way they waste our money, trillions and trillions of dollars of waste and abuse. And I hate it.”
The great thing about this plan is everyone’s tax bill, which will be lower, can be filled out on the back of a post card. Just think how many billions of dollars that will save individuals and small business owners in fees to accountants and tax-preparation companies. That’s money saved which can be put to more productive, job-creating things.
Every dollar saved by this reform goes back into the pocket of businesses and workers, who can provide for their families, invest, and spend as they see fit. We can certainly spend our money better than Washington, D.C. can.
122 months ago
Melissa Mastrianni Trump’s Tax Plan Is Right:
Most Americans Should Pay NO Income Tax
Republican Presidential candidate Donald Trump is a successful businessman. He works hard, and does whatever he can to pay the minimal amount of taxes to President Barack Obama.
N Read more ... ow, as Trump announced in his book “Time to Get Tough: Making America #1 Again,” we learn Donald Trump’s bold and specific plans to completely restructure America’s tax code. And after the changes are made, every American will end up paying lower taxes.
Individual Income Tax Brackets
Under Donald Trump’s Tax Plan
0%, 10%, 20% & 25% - ⭐️⭐️⭐️⭐️⭐️
Single $0.00 - $25,000 = 0%
Married $0.00 - $50,000 = 0%
Head of Household $0.00 = $37,500 = 0%
Single $25,000 - $50,000 = 10%
Married $50,000 - $100,000 = 10%
Head of Household $37,500 - $75,000 = 10%
Single $50,000 - $150,000 = 20%
(15% dividends & capital gains)
Married $100,000 - $300,000 = 20%
(15% dividends & capital gains)
Head of Household $75,000 - $225,000 = 20%
(15% dividends & capital gains)
Single $150,000 and up = 25%
(20% dividends & capital gains)
Married $300,000 and up = 25%
(20% dividends & capital gains)
Head of Household $225,000 and up = 25%
(20% dividends & capital gains)
Steepens the curve of the Personal Exemption Phase-out (PEP) and the Pease Limitation on itemized deductions.
Eliminates the Alternative Minimum Tax.
Eliminates the Net Investment Income Tax of 3.8 percent, which was passed as part of the Affordable Care Act.
Taxes carried interest at ordinary income tax rates instead of capital gains and dividends tax rates.
Phases out the tax exemption on life insurance interest.
Business Tax Changes
Cuts the corporate income tax rate from the current 35 percent to 15 percent.
Ends the deferral of income from controlled foreign subsidiaries, but preserves the foreign tax credit. It would also enact, as a transitional revenue raiser, a one-time deemed repatriation tax of 10 percent on all foreign profits currently deferred.
Taxes pass-through businesses at the rate of 15 percent commensurate with the traditional corporations.
Caps the deductibility of interest expenses.
In the book, Trump decried the current tax code: “Imagine your paycheck was 40 percent higher than it currently is. What could you do with 40 percent more wealth? How many jobs and opportunities for others could you create?
Trump spoke out strongly against the shameful way America’s government spends your and my hard-earned tax dollars, which we all pay every year in April. As Trump noted, “But the other reason is that I hate the way our government spends our taxes. I hate the way they waste our money, trillions and trillions of dollars of waste and abuse. And I hate it.”
The great thing about this plan is everyone’s tax bill, which will be lower, can be filled out on the back of a post card. Just think how many billions of dollars that will save individuals and small business owners in fees to accountants and tax-preparation companies. That’s money saved which can be put to more productive, job-creating things.
Every dollar saved by this reform goes back into the pocket of businesses and workers, who can provide for their families, invest, and spend as they see fit. We can certainly spend our money better than Washington, D.C. can.
122 months ago
TJ Kotula Effective January 1, 2016, there are NEW TAXES thanks to the Democrats and the “Affordable Care Act” or Obamacare
As a brief reminder for those who forgot or for many that didn't know.
The following is what happened on January 1, 2016
1. Medicar Read more ... e tax went from 1.45% to 2.35%.
2. Top Income tax bracket went from 35% to 39.6%.
3. Top Income payroll tax went from 37.4% to 52.2%.
4. Capital Gains tax went from 15% to 28%.
5. Dividend tax went from 15% to 39.6%.
6. Estate tax went from 0% to 55%.
7. A 3.5% Real Estate transaction tax was added.
Remember these facts: These taxes were all passed solely with Democrat votes. Not a single Republican voted for these new taxes. These taxes were all passed in connection with the “Affordable Care Act”, aka Obamacare.
125 months ago
MSN Trump’s campaign noted his reported income does not include dividends, interest, capital gains, rents and royalties.
Trump says his income is above $500 million
msn.com
In a campaign press release about the filing, the Republican presidential contender also said his net worth is in excess of $10 billion.
126 months ago