Liberalism ruins everything it touches.

www.thetaxadviser.com

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.
www.thetaxadviser.com www.thetaxadviser.com

Here's one - if you are a small business owner, this was a very nice deduction put in to place.

Heres another - gave the USA energy independence. We did not have to rely on Russia, Iran (who Biden is not negotiating with to buy oil) for our energy and oil.

The free market is dependent on oil, that is a fact. Our industry is dependent on oil.

When diesel and gas cost what is does today, ($6.50/$4.99) our industry is very much impacted, hence my original post that set off the whole sher-banger.
 
BooRad said:
www.thetaxadviser.com

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.
www.thetaxadviser.com www.thetaxadviser.com

Here's one - if you are a small business owner, this was a very nice deduction put in to place.

Heres another - gave the USA energy independence. We did not have to rely on Russia, Iran (who Biden is not negotiating with to buy oil) for our energy and oil.

The free market is dependent on oil, that is a fact. Our industry is dependent on oil.

When diesel and gas cost what is does today, ($6.50/$4.99) our industry is very much impacted, hence my original post that set off the whole sher-banger.
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This is in response to question posed to me to name something President Trump did that effected me. Not in response to the whole silly gift tax issue.
 
BooRad said:
Because if cash bonuses are not reported, then federal taxes are not paid.

The whole discussion month's/years ago was that Rico advocated Xmas bonuses should be paid in cash, which most likely but of course not necessarily, skirts the feds thier cut. Furthermore if one states bonus should be cash, not a check proves the cash is not claimed, hence the preference. (If cash is claimed, then what would be the difference - none!).

My whole point was prove the hypocrisy. Liberals vote for higher taxes, larger government, but then skirt the system themselves.

BTY, I am not an "R" either, I am a. "L". We just find some common ground with many more "R's" especially the guy from Kentucky.


Anyway, I think this thread has run its course, Goodnight, be safe. Trees bring us our common ground.
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Thank you for the reasonable response. Final point " most likely" is an assumption, meaning you dont really know. Good night
 
ATH said:
Without getting into the political BS here, bonuses from an employer are not "gifts" exempt from gift taxes:

Publication 525 (2024), Taxable and Nontaxable Income | Internal Revenue Service

www.irs.gov www.irs.gov

https://www.google.com/search?q=can+gift+tax+exemption+apply+to+bonuses - basically nobody says it is legit. I came across that looking at workers comp stuff (which may vary by state...). I wish it did count, but it doesn't. Which kinda makes sense. Otherwise we'd all pay out employees $14K less per year and give them a bonus (or maybe monthly gifts of $1150) and everyone would be happier.
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Good input. What if my employee is a friend or a family member? Cant I give them a gift?I am spit balling here but where does employee, friend, or family member seperate? Cant they be all of these at once or seperate them. This could get real confusing. Thoughts? What about subs?
 
owScott said:
Good input. What if my employee is a friend or a family member? Cant I give them a gift?I am spit balling here but where does employee, friend, or family member seperate? Cant they be all of these at once or seperate them. This could get real confusing. Thoughts? What about subs?
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Not an accountant. Not an attorney. Hate tax stuff. But here is my guess (and a thought):
*If you are audited, they'd probably look "you gave nephew Bill, who works for you, a $5000 gift." But you didn't give "nephew Phil who doesn't work with you, but otherwise seems to have the same relationship outside of work, did not get a cash gift." The gift really looks like a work-related bonus.

*You know if you are giving somebody a gift or a work-related bonus. I've decided I want to do what is right. I also don't want to have to answer difficult questions with elusive answers if I am ever audited. I'm not going to judge you for the decision you make in this regard...I was just posting the 'legalities' of it. Agree there is some gray area.
 
ATH said:
Not an accountant. Not an attorney. Hate tax stuff. But here is my guess (and a thought):
*If you are audited, they'd probably look "you gave nephew Bill, who works for you, a $5000 gift." But you didn't give "nephew Phil who doesn't work with you, but otherwise seems to have the same relationship outside of work, did not get a cash gift." The gift really looks like a work-related bonus.

*You know if you are giving somebody a gift or a work-related bonus. I've decided I want to do what is right. I also don't want to have to answer difficult questions with elusive answers if I am ever audited. I'm not going to judge you for the decision you make in this regard...I was just posting the 'legalities' of it. Agree there is some gray area.
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I agree with you about doing things right, like I said spit balling just throwing out thoughts. My main point being there are some gray areas if someone wished to explore them. I am not that guy.
 
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If people want more energy independence, strongly cutting back on wasted energy is a great place to start. After that, cut some unnecessary energy consumption.
 
owScott said:
Energy independence is code for more drilling in sensitive areas . Any step toward renewable energy just pisses the "energy independence" crew off.
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OW...I do agree with the first part of your comment...I will even admit, no code needed, that domestic drilling needs to be explored and I do have concerns with this. But we all needed to fire up our equipment daily, weekly, monthly, etc. If we rely on foreign sources, we may find ourselves in trouble one day.

The second part is paints a bit broad brush. Myself and many in my circles would absolutely welcome alternative sources. I think you miss the mark a bit here.. How wonderful would a technological advancement be that could power our trucks with just a solar panel on the roof. We are a long way off, but free market engineering usually produces modern technology. Elon Musk is a brilliant engieer. I hear electronic trucks are not too far off. Although the electricity need to be generated somehow.

I do positively agree that many, many, many forces out there do want to keep us from advancement in this area.
Big time $$ and power, ask Biden family, Bush Family, Cheeney family....on and on. Deep state runs deep.

We have some common ground and I hope you'll agree at least discussed this well.

We could go on for hours.
 
rico said:
silly? I can assure you the gift tax exemptions are very real and are used by millions of American to lawfully move $ and wealth without having to pay taxes... You don’t seem to have a problem with your draft dodging, pussy grabbing orange god using the tax laws to his advantage, but you have issue with a working man exercise his right to do the same.

The very definition of hypocrisy son.
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Way off dude. I think all of our taxes are way too high. Inheritance, capital gains, payroll taxes. I will advocate for the working man every time I vote. Big reason why I do not vote D. And $6.50 diesel sure hitting the working man hard now.

The silliness i was referring to was your statement that you use the gift tax when paying a cash bonus. If so, then what would the difference be between cash or check if claimed? No difference. One can only surmise that the cash bonus reference logically implies skirting the income tax o. the bonus. Someone who advocates higher taxes and liberal policies should be more than happy to pay all of thier taxes.
Follow? Or will we get just another rant response?
 
I am definitely no expert with regard to oil and gas markets, but...

The U.S. subsidizes oil to the tune of >$20B/year. That's over $5 per capita per month. I think I'd rather pay the real cost for fuel, rather than have the subsidies, in order to eliminate paying all the industry and government people who deal with the subsidies. And we pay for subsidies, yet the price is largely driven by speculators. It's not like the subsidies guarantee lower fuel prices. Plus, if I'm an oil company, I'll sell oil to foreign markets if that's where I get top dollar, resulting in higher domestic prices despite the subsidies. I can see the point of subsidies when the market wasn't so global. I suppose if the tree care industry hired enough lobbyists, we could have tree care subsidies.
 
Man you climbers aren't very grounded.

The east or west branches of a tree do not support the stem, rather the structural integrity comes from the trunk, and the roots which laid the foundation in the earth where the tree was planted. Too often our attention is drawn to the colorful foliage of this seasons canopy, when most of the lessons and secrets lie in the years of old wood consigned too tightly to the rings of history to be discovered without cutting the tree down and starting over altogether.

So too does our bipartisan system in this country girdle and choke true competition and keep us ever guessing and chasing after the next new crisis. Our attention spans are short, and these swings from center divide us and make us susceptible to falling to great winds and drought.

It strikes me that many here share similar core values, love for family, nature, good food and health and wealth for all that work hard for their keep. Tree workers have long comprised a special core class of "good people" that this country should be proud to have. The critical conversation is good, because it keeps our saws sharp- but like a bundle of sticks we're all stronger together.

Find the common ground. Get back to the root of the matter. Our systems are broken. We need our best and brightest from all sides to come together if there is to be a future for the seeds we sow in this land.

Done pontificating.
 
OrganicApproach said:
Man you climbers aren't very grounded.

The east or west branches of a tree do not support the stem, rather the structural integrity comes from the trunk, and the roots which laid the foundation in the earth where the tree was planted. Too often our attention is drawn to the colorful foliage of this seasons canopy, when most of the lessons and secrets lie in the years of old wood consigned too tightly to the rings of history to be discovered without cutting the tree down and starting over altogether.

So too does our bipartisan system in this country girdle and choke true competition and keep us ever guessing and chasing after the next new crisis. Our attention spans are short, and these swings from center divide us and make us susceptible to falling to great winds and drought.

It strikes me that many here share similar core values, love for family, nature, good food and health and wealth for all that work hard for their keep. Tree workers have long comprised a special core class of "good people" that this country should be proud to have. The critical conversation is good, because it keeps our saws sharp- but like a bundle of sticks we're all stronger together.

Find the common ground. Get back to the root of the matter. Our systems are broken. We need our best and brightest from all sides to come together if there is to be a future for the seeds we sow in this land.

Done pontificating.
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Well said....I did have a bit of my "chicken fry" going on Friday night and apologize if I came off rude. I am always willing to debate, and no matter what the excuse need to stand by my words but we need to do this with class on this site. Thanks for your input and advice...duly taken.
 
@BooRad congrats, your Supreme Court is a bunch of fuckwads. Start buying stock in coat hangers, and while your at it don’t complain about social services..
 
evo said:
@BooRad congrats, your Supreme Court is a bunch of fuckwads. Start buying stock in coat hangers, and while your at it don’t complain about social services..
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Evo, overturning RvW will NOT make abortion Illegal!! This is very important to know.

What will happen is each state would have their own law/decisions to make. How about putting it on the general ballot? Elect state legislators/governor's who will support your stance. Safe to say many states will keep, perhaps a few will not, politicians will sure be put in the heat with this.

My own stance on abortion? "Against abortion, then don't have one"

But keep the main point here - overturned RvW will NOT make Abortion illegal.

And I'm not sold on SCOTUS taking this one completely.

On another note, see 2000 Mules is out? Worth the watch, YouTube it.
 
Dan Cobb said:
I am definitely no expert with regard to oil and gas markets, but...

The U.S. subsidizes oil to the tune of >$20B/year. ...
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What energy sector doesn't get subsidies? Solar and wind would be even more expensive without. Ethanol probably wouldn't be a thing if it wasn't required in gasoline blends (fewer direct requirements now ... but that wouldn't have taken off without).

Look which piece of the energy pie gets the least of the subsidies...the only one that could actually meet most or all of our present and long-term electric needs with current technology if it were permitted to do so.
en.wikipedia.org

Energy subsidies in the United States - Wikipedia

en.wikipedia.org en.wikipedia.org

I'm not saying I like subsidies. Just saying that they aren't unique to the oil and gas industry. FWIW, if they dropped the subsidies and lowered federal fuel taxes by 80% it would be a wash.
 
BooRad said:
Evo, overturning RvW will NOT make abortion Illegal!! This is very important to know.

What will happen is each state would have their own law/decisions to make. How about putting it on the general ballot? Elect state legislators/governor's who will support your stance. Safe to say many states will keep, perhaps a few will not, politicians will sure be put in the heat with this.

My own stance on abortion? "Against abortion, then don't have one"

But keep the main point here - overturned RvW will NOT make Abortion illegal.

And I'm not sold on SCOTUS taking this one completely.

On another note, see 2000 Mules is out? Worth the watch, YouTube it.
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Not quite right. It will change from a federally protected right to one that can be dictated by state governance. Large difference
Under your oh so enlightening explanation should slavery be decided on the state level?
 
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