AMT and employee expenses
01-31-2015, 09:19 AM
#11
Proponent of Hysteria
Joined APC: Mar 2005
Position: 3B
Posts: 1,052
Nice straw man.
Increasing taxes on the regular Joe who happens to hit $250K or so of income in the US isn't going to have any impact on the wealthiest 1% of the world.
If you could redistribute your way to utopia it would have been done long ago. Fails every time.
But hey, we're just looking out for the middle class, right?
Increasing taxes on the regular Joe who happens to hit $250K or so of income in the US isn't going to have any impact on the wealthiest 1% of the world.
If you could redistribute your way to utopia it would have been done long ago. Fails every time.
But hey, we're just looking out for the middle class, right?
01-31-2015, 09:24 AM
#13
Gets Weekends Off
Joined APC: Mar 2006
Position: Crewmember
Posts: 1,377
This is why we should be negotiating for FULL government rate per diem, INDEXED every year!
I figure I lose at least $10,000 in "per diem not paid" that I can no longer write off on my taxes.
$10,000, tax free, means more to me than a paltry 3% pay raise!
Of course, the union, which is "supposed to represent me", does not negotiate for FULL per diem, as that might take money out of national ALPA's pockets, and we can't have that, can we?
I have said this over and over to my block rep and negotiating committee, and they keep giving us nickels and dimes on the per diem rates.
The company can write this off as a business expense, so "show me the full per diem". Anything less is unacceptable!
I figure I lose at least $10,000 in "per diem not paid" that I can no longer write off on my taxes.
$10,000, tax free, means more to me than a paltry 3% pay raise!
Of course, the union, which is "supposed to represent me", does not negotiate for FULL per diem, as that might take money out of national ALPA's pockets, and we can't have that, can we?
I have said this over and over to my block rep and negotiating committee, and they keep giving us nickels and dimes on the per diem rates.
The company can write this off as a business expense, so "show me the full per diem". Anything less is unacceptable!
01-31-2015, 03:00 PM
#15
Row 1A
Joined APC: Dec 2014
Posts: 55
My CPA tells me that once you hit AMT, your mortgage interest & charity are the only two items that can help you.
AMT limit needs to be reindexed to a higher income. The current figure was indexed in the mid 1960s, completely out of date for today. But good luck, as the Federal Gov't would lose out on millions$$.
AMT limit needs to be reindexed to a higher income. The current figure was indexed in the mid 1960s, completely out of date for today. But good luck, as the Federal Gov't would lose out on millions$$.
01-31-2015, 03:56 PM
#16
Gets Weekends Off
Joined APC: Jun 2007
Position: Couch Potato
Posts: 470
Originally Posted by Whaledrivr
My CPA tells me that once you hit AMT, your mortgage interest & charity are the only two items that can help you.
AMT limit needs to be reindexed to a higher income. The current figure was indexed in the mid 1960s, completely out of date for today. But good luck, as the Federal Gov't would lose out on millions$$.
AMT limit needs to be reindexed to a higher income. The current figure was indexed in the mid 1960s, completely out of date for today. But good luck, as the Federal Gov't would lose out on millions$$.
MG2
01-31-2015, 04:42 PM
#17
Gets Weekends Off
Joined APC: Aug 2006
Position: leaning to the left
Posts: 4,184
Originally Posted by Whaledrivr
My CPA tells me that once you hit AMT, your mortgage interest & charity are the only two items that can help you.
AMT limit needs to be reindexed to a higher income. The current figure was indexed in the mid 1960s, completely out of date for today. But good luck, as the Federal Gov't would lose out on millions$$.
AMT limit needs to be reindexed to a higher income. The current figure was indexed in the mid 1960s, completely out of date for today. But good luck, as the Federal Gov't would lose out on millions$$.
02-01-2015, 11:31 AM
#18
Gets Weekends Off
Joined APC: Aug 2006
Position: leaning to the left
Posts: 4,184
Originally Posted by FXDX
Nice straw man.
Increasing taxes on the regular Joe who happens to hit $250K or so of income in the US isn't going to have any impact on the wealthiest 1% of the world.
If you could redistribute your way to utopia it would have been done long ago. Fails every time.
But hey, we're just looking out for the middle class, right?
Increasing taxes on the regular Joe who happens to hit $250K or so of income in the US isn't going to have any impact on the wealthiest 1% of the world.
If you could redistribute your way to utopia it would have been done long ago. Fails every time.
But hey, we're just looking out for the middle class, right?
Originally Posted by FXDX
Come on guys, whats a little income redistribution?
AMT really has nothing to do with income redistribution. It is a tax system that has badly mutated from requiring the wealthiest Americans(1%?) pay SOME income tax, into making the upper middle class taxpayers pay more. It needs to be fixed.
