Have a client right now planning on selling his business this year so his -- psychobilly 08/10/2020 1:19PM Has he considered the CRUT option? -- Hoos Operator 08/10/2020 2:13PMNot really. In the mid 70's it was north of 30%, and from the
(In response to this post by 111Balz)
Posted: 08/10/2020 at 12:44PM
Insert a Link
Enter the title of the link here:
Enter the full web address of the link here -- include the "http://" part:
Enter the full web address of the link here -- include the "http://" part:
|
Current Thread:
|
Have a client right now planning on selling his business this year so his -- psychobilly 08/10/2020 1:19PM Has he considered the CRUT option? -- Hoos Operator 08/10/2020 2:13PM Like Starker exchanges, there is no way current hollow Joe knows -- ryno hoo 08/10/2020 12:37PM Dang! A policy discussion. If Biden is elected, will this become -- HoosWillWin 08/10/2020 11:59AM Funny coming from you guys who have obsessed -- TomKazanski 08/10/2020 12:02PM Or maybe, just maybe 1) Trump and McConnell proposed zero meaningful -- HoosWillWin 08/10/2020 1:32PM So you don't implement it immediately, you phase it in over time. -- Faz d. Hoo 08/10/2020 11:27AM Well, at least this is a tried and true Republican argument. :) ** -- Seattle .Hoo 08/10/2020 11:20AM I'd love to see Republicans drop the white nationalist platform they are -- WahooRQ 08/10/2020 11:25AM The dry capital gains argument doesn't draw enough voters. But the ploy -- Seattle .Hoo 08/10/2020 11:30AM Is anyone a little bit concerned that our top rate is already about 5 -- BocaHoo91 08/10/2020 11:41AM But it’s also relatively on the low point compared to most of the last 65 -- 111Balz 08/10/2020 12:37PM Not really. In the mid 70's it was north of 30%, and from the -- BocaHoo91 08/10/2020 12:44PM And 25% from 55 to 67 during a boom economy ** -- 111Balz 08/10/2020 1:01PM Sure. Raise it to 25% then... from the current 23.8%. But 43.8%???? ** -- BocaHoo91 08/10/2020 1:10PM Not saying that I’m in favor of such a level. -- 111Balz 08/10/2020 1:18PM Let's just say that it's near the bottom of my list of concerns. Not that -- Seattle .Hoo 08/10/2020 11:46AM You can't imagine a scenario where there is a negative impact -- BocaHoo91 08/10/2020 12:01PM That is the usual argument. Am I concerned about it? Not really. Be honest -- Seattle .Hoo 08/10/2020 12:19PM The economic impact of a doubling of the investment tax rate is just -- BocaHoo91 08/10/2020 12:26PM We're talking past each other. Let me put it in terms I actually -- Seattle .Hoo 08/10/2020 1:47PM But negotiating a different price or not selling when you did IS a -- BocaHoo91 08/10/2020 2:01PM I'm not saying the impact is zero. But how big is the non-zero impact? ** -- Seattle .Hoo 08/10/2020 2:05PM Depends on how big the increase in taxes is. But I would expect a -- BocaHoo91 08/10/2020 3:12PM Changes to the CGR in the past have typically resulted in a one-time -- WahooRQ 08/10/2020 12:45PM Right, but we're not talking 15% or 25%. The proposal would take it to -- BocaHoo91 08/10/2020 12:49PM I am not sure at what level the blue wave will classify somebody as -- Tuckahokie 08/10/2020 12:31PM Lower the tax rate to increase tax receipts? Sounds like voodoo economics ** -- WahooMatt05 08/10/2020 11:04AM Raising it will unlikely generate more revenue. Unlike ordinary income -- BocaHoo91 08/10/2020 11:14AM Fair point. Taxes can be gamed, and will be gamed -- WahooMatt05 08/10/2020 11:41AM Simpson-Bowles, Simpson-Bowles, Simpson-Bowles -- fishhoo 08/10/2020 12:28PM Big failure by Obama; chance to leave the kind of lasting mark he desired ** -- Quaker 08/10/2020 1:02PM You could try to force people to pay capital gains every 5 years -- Quaker 08/10/2020 12:20PM What you describe is mark-to-market taxation. -- PBCHoo 08/10/2020 12:46PM Yeah, seems like Ron Wyden has a plan ... don't now if it has any traction -- Quaker 08/10/2020 12:59PM Your third paragraph starting with the 'devil is in the details' is -- BocaHoo91 08/10/2020 12:29PM Here is an article .. not very revealing -- Quaker 08/10/2020 12:28PM Is realizing losses to offset gains or delaying the realization of gains -- BocaHoo91 08/10/2020 12:10PM Everything related to tax planning is gaming. We all do it. -- WahooMatt05 08/10/2020 12:15PM Sure, but the higher you make the tax, the more incentive there is to -- BocaHoo91 08/10/2020 12:20PM Exactly. Dramatically increasing LTCG rates will introduce -- hoolstoptheheels 08/10/2020 11:49AM Call it LTCG rights, and Dems will get onboard. ** -- Shenhoo 08/10/2020 12:07PM LOL ** -- Tuckahokie 08/10/2020 12:09PM It would not create a whole new cottage industry in as much as it, along -- Hoos Operator 08/10/2020 12:07PM And simplify it enough that the vast majority of Americans have their taxes -- Seattle .Hoo 08/10/2020 11:58AM Absolutely agree with both of you. The code benefits the wealthy, who know -- GoochlandHoo 08/10/2020 12:12PM I agree with this. I don't think it makes much sense to talk about the -- Seattle .Hoo 08/10/2020 11:47AM Congress would need to eliminate a lot more nonrecognition provisions... -- PBCHoo 08/10/2020 11:21AM The difference here is combining the CG rate increase with eliminating... -- Stimp 08/10/2020 11:17AM I’m a little confused. Where is the step up in basis eliminated? -- hoolstoptheheels 08/10/2020 11:42AM Biden wants to eliminate “step up in basis” at death ** -- Stimp 08/10/2020 11:46AM Ahh. I agree with that. Whatever the rates are. ** -- hoolstoptheheels 08/10/2020 11:50AM Of course that taxes inflation, and if the inheritance tax kicks in, you're -- Hoodafan 08/10/2020 12:11PM So? IMO, income should be income. I would not add the -- hoolstoptheheels 08/10/2020 12:25PM Fundamentally I've always advocated to tax all income the same, and that -- Hoodafan 08/10/2020 12:43PM Here we were having a nice little discussion, and you had to go and -- hoolstoptheheels 08/10/2020 1:06PM It's the populist politics you claim to abhor. In this case envy and the -- Hoodafan 08/10/2020 1:23PM When you realize a sale, you are paid in today’s dollars. -- hoolstoptheheels 08/10/2020 1:49PM And that's why I said your fellow lefties. -- Hoodafan 08/10/2020 2:16PM Lizzie is a card carrying populist, I agree with that. -- hoolstoptheheels 08/10/2020 2:34PM Yeah.... that's fine. I'm OK eliminating the step up in basis. The gov't -- BocaHoo91 08/10/2020 11:28AM I’m for eliminating step-up, but letting basis carry at death -- Stimp 08/10/2020 11:33AM Yes. Basis should carry, and the burden is on the heir to prove the -- BocaHoo91 08/10/2020 11:37AM Sounds like Walmart's business strategy. -- PBCHoo 08/10/2020 11:14AM