Lol at wagecuck lawyers paying huge tax bills while I get like a $45,000 deduction.

If you're still on the fence about going solo, just fucking do it.

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34933940)

Alpha ARECOUNTRY business owner family men paying 18% on the same amount, high fiving and barbecuing in our big backyards, slapping cocks and balls, fully nude.

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34934216)

Extremely relevant to my interests

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34943429)

let's have a crawfish boil this summer brother

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34943527)

2. It's only 20%? I thought it was originally 35%.

3. Is the deduction still limited by a peg to a certain percentage of wages paid to employees?

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34934824)

*Edit* ok I see what you're saying though, like I couldn't reduce the base salary by 1/2 and say well i'll just get that amount out of our "profit" every year.

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34943577)

1 is the standard S corp john edwards stuff of dividend vs. salary from the S corp (to what extent does your profit represent return on capital investment and to what extent does it represent your labor?)

2 is the newfangled 'no deduction to the extent passthru income represents reasonable compensation' concept

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34943652)

“The ABA position also prevailed in regards to these provisions in the consensus bill:

• The student loan tax deduction is preserved.

• Some contingency-fee lawyers will still be able to deduct upfront litigation-related expenses. Lawyers within the jurisdiction of the San Francisco-based 9th U.S. Circuit Court of Appeals are permitted to deduct such expenses.”

http://www.abajournal.com/news/article/consensus_tax_bill_includes_law_firms_in_pass_through_tax_relief_with_limit

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34970717)

What the fucking shit is this horseshit? Only the 9th circuit?

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34974187)

Anyone know what this W-2 wage test is?

https://taxfoundation.org/final-tax-cuts-and-jobs-act-details-analysis/

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34975319)

Partnership and S Corporation TaxationAn individual taxpayer or trust generally may deduct 20% of domestic qualified business income from a partnership, S corporation, or sole proprietorship, capped at the greater of (i) 50% of the taxpayer’s allocable or pro rata share of W-2 wages paid by the partnership, S corporation or sole proprietorship or (ii) the sum of 25% of W-2 wages paid plus a capital component equal to 2.5% of the unadjusted tax basis of the business’s tangible depreciable property.

The full deduction generally does not apply to specified service businesses, except in the case of a taxpayer whose taxable income does not exceed $315,000 for married individuals filing jointly or $157,500 for single individuals (with the benefit of the deduction phased out between $315,000 and $415,000 for married individuals and $157,500 and $207,500 for single individuals).

https://www.lexology.com/library/detail.aspx?g=067715b3-408c-4850-bef9-397ffc309dca

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34975365)

https://www.wsj.com/livecoverage/tax-bill-2017/card/1513385693

Dec 15, 2017 at 7:54 pm ET

How the New Pass-Through Limits Work in the Tax Plan

The House and Senate blended their provisions on a crucial piece of the new tax break for pass-through businesses that aren't in professional service industries.

The House version was based on a company’s capital investments, giving firms the ability to get more of their income at a 25% rate if they had more capital invested.

The Senate’s version limited the tax break to 50% of wages paid.

The final version combines the two approaches. Now, the 20% deduction is capped at either 50% of wages or 25% of wages plus 2.5% of capital assets, whichever is greater.

Compared to the Senate bill, that’s a benefit for capital-intensive companies that don’t pay a lot of wages or any wages at all.

These limits only apply for businesses whose owners have individual income exceeding $157,500 or joint filer income of $315,000.

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34990590)

$315k is 98th percentile HHI and most business owners claiming $315k HHI are actually making quit a bit more but running large expenses through the company.

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34991123)

Yes, in 2008, not in 2017 when xo is filled with alt right poors.

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34991158)

Most BIGLAWYERS here will never make more than $300k even with bonuses and will then find $200k in-house jobs.

The alt right poors here are a different story.

(http://www.autoadmit.com/thread.php?thread_id=3831014&forum_id=2#34991303)