Sponsored

What If?

Bobthebuilder352

Well-Known Member
Joined
Nov 12, 2020
Threads
13
Messages
346
Reaction score
237
Location
Florida
Vehicles
Kubota
Occupation
Farmer
COMPLETELY disagree. People making over $400K should pay way higher percentage tax rates and Corporate taxes should be raised.
Here is the flaw. My company makes $1m this year, if I sit on the cash in the company I have to pay Corp taxes on it, so I pay myself out the full amount as ordinary income. I could make zero next year but if I left it in the company I paid ~20% just to leave it for a reserve. I know boo hoo for me but for many small business where income can vary tremendously year to year this is a problem. Also if I made zero last year, $1m this year, and $0 next year my tax rate is a lot higher than someone who made $333k of that over three years. I guess the real take away is I need a better tax attorney?
Sponsored

 

skyote

Well-Known Member
Joined
Mar 12, 2019
Threads
55
Messages
2,725
Reaction score
5,647
Location
Austin, TX
Vehicles
Jeeps, 2500HD Duramax, R1S Preorder (Dec 2018)
And raising corporate tax rates again will once again push American businesses to overseas HQ to avoid them, & the US will get zero. That one sounds good in theory, but is actually really dumb in practice.
 
OP
OP
Canthoney

Canthoney

Well-Known Member
First Name
Andrew
Joined
Apr 1, 2020
Threads
79
Messages
807
Reaction score
2,186
Location
Kansas City
Vehicles
2022 Kia EV6 FE, 2022 Rivian R1T
Occupation
Self-Employed: Real Estate Management
And raising corporate tax rates again will once again push American businesses to overseas HQ to avoid them, & the US will get zero. That one sounds good in theory, but is actually really dumb in practice.
Yeah I donā€™t think itā€™s a good idea either to do that while we are still in recovery either. Without getting too political I think the credits are important until battery costs become lower or par with ICE. We are probably never going to see a good $35,000 without credits though, even Tesla didnā€™t really pull it off
 

azbill

Well-Known Member
First Name
Bill
Joined
Jun 8, 2020
Threads
14
Messages
1,261
Reaction score
1,559
Location
Arizona
Vehicles
R1T, Mach E, Hummer EV SUT
Occupation
Engineer
Yeah I donā€™t think itā€™s a good idea either to do that while we are still in recovery either. Without getting too political I think the credits are important until battery costs become lower or par with ICE. We are probably never going to see a good $35,000 without credits though, even Tesla didnā€™t really pull it off
The new 2022 Bolt is coming in at $32K
 
OP
OP
Canthoney

Canthoney

Well-Known Member
First Name
Andrew
Joined
Apr 1, 2020
Threads
79
Messages
807
Reaction score
2,186
Location
Kansas City
Vehicles
2022 Kia EV6 FE, 2022 Rivian R1T
Occupation
Self-Employed: Real Estate Management
The new 2022 Bolt is coming in at $32K
I have my doubts they are making money on the car at that price, but who knows? Battery are prices going down every year so maybe they are eking out a tiny profit.
Sponsored

 
 




Top