9-9-9

Quote from oldtime:

no matter what the tax code I can figure a way around it. I'm pretty sure I could manufacture a brand new used vehicle.
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And there's always a federal jail cell available.
Don't do yourself like that, Oldie.
There will certainly be enforcement provisions in the new laws.
 
Quote from BSAM:

Simplicity in filing.
(Speee---Open your mind, Oldie.)
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how long does it take to enter your mortgage deduction, charitabe contributions and medical bills?

Even so, eliminating deductions and lowering the rate to 9% is not really changing anything. You still have to file, and if you own a business you still have to itemize all your expenses.

How is that simpler filing?
 
Quote from oldtime:

how long does it take to enter your mortgage deduction, charitabe contributions and medical bills?

Even so, eliminating deductions and lowering the rate to 9% is not really changing anything. You still have to file, and if you own a business you still have to itemize all your expenses.

How is that simpler filing?
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is he going to eliminate the deduction for hardware and software for traders?

I invest 10k in hardware and 10k in software and only make 20k in trading, so in fact all I did for the year was break even and he wants me to pay taxes on the gross?

If it's so simple explain it to me.
 
Try to calm down, Oldie.
You're getting yourself too worked up.
Cain hasn't been elected yet.
No new tax laws have been put into place.
BTW, Olide---What kind of tax plan do you prefer?
Be specific.
 
what about improvements to my house? Do I still get to take the standard deduction or do I now have to keep a receipt for every fruit tree I bought for my orchard?

You're sure this new 999 plan is simpler, right?
 
Quote from oldtime:

what about improvements to my house? Do I still get to take the standard deduction or do I now have to keep a receipt for every fruit tree I bought for my orchard?

You're sure this new 999 plan is simpler, right?
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Quite sure.
 
Quote from BSAM:

(Speee---There would be no capital gains taxes.)
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no capital gains tax, just 9%? I could go for that if they let me deduct all my expenses including the art appreciation course I am going to take to help me see charts more objectively or more subjectively, I forget which. And that better include interest on the student loan I am going to take out.
 
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