Per Diem and Tax Rules

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12-18-2023, 06:17 AM

#41

Nick Bradshaw

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Joined APC: Aug 2020

Posts: 669

Quote:

Originally Posted by FangsF15

Wooooow, dude. Even for you, this is really obtuse.

Okay Warden Norton. I guess I'll have to go to solitary again.

12-18-2023, 07:32 AM

#42

easternguy

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Joined APC: Apr 2016

Posts: 55

Any guesses what will happen when the tax cuts expire? Will we see the per diem deduction return?

12-18-2023, 08:36 AM

#43

bugman61

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Joined APC: Oct 2014

Posts: 895

Quote:

Originally Posted by easternguy

Any guesses what will happen when the tax cuts expire? Will we see the per diem deduction return?

Theres a 0% chance that the tax cuts actually expire. These bills are always written with permanent corporate tax cuts and temporary personal tax cuts. It hides the true cost of the cuts by allowing out years to be calculated with the old rates. And the politicians know that there will be massive pressure to extend the personal cuts when the time comes. Just look at what happened when the Bush cuts expired under Obama.

As for specifics, it depends on who is in power when the time comes. My guess is you will see most of the TCJA changes made permanent. There’s unlikely to be a big push to recomplicate tax filing.

12-18-2023, 09:48 AM

#44

ShyGuy

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Joined APC: Dec 2005

Posts: 8,902

Quote:

Originally Posted by Red Forman

Sounds like you don't pay your fair share.

Define "fair share."

12-18-2023, 10:00 AM

#45

demon llama

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Joined APC: Jul 2023

Posts: 72

Does anyone really wonder why Steve Jobs famously paid himself a salary of $1 per year?

12-18-2023, 11:36 AM

#46

crewdawg

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Joined APC: Jul 2006

Posts: 5,564

Quote:

Originally Posted by demon llama

Does anyone really wonder why Steve Jobs famously paid himself a salary of $1 per year?

Noone wonders that, it's why we all want to pay as little taxes as possible lol.

12-18-2023, 11:49 AM

#47

FangsF15

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Joined APC: Sep 2011

Posts: 4,241

Quote:

Originally Posted by ShyGuy

Define "fair share."

People who use the term “fair share” can’t, because then they would have to defend that number. And they’d rather have the talking point, than the solution

“Fair share“ allows them to perpetually want more.

12-18-2023, 02:17 PM

#48

SabreDriver

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Joined APC: Jul 2006

Position: The Right One

Posts: 588

Quote:

Originally Posted by Red Forman

You don't like paying your fair share?

If I missed the sarcasm font, please forgive me.

If not... riddle me this?

I don't mind paying my fair share. But, what is a (my) fair share? To quote Thomas Sowell "How much of what I've earned (or have) are you, or anyone else (read government entities) entitled to, and why?"

You have to pick a number, or percentage, and show your work...

We'll wait.

Long story short, government confiscates way too much. As George Carlin would say, it's a big club, and you aren't in it,but we're paying for the party.

It's time to starve the beast.

I'm with CX500T, I'm out.

12-18-2023, 02:44 PM

#49

demon llama

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Joined APC: Jul 2023

Posts: 72

Quote:

Originally Posted by crewdawg

Noone wonders that, it's why we all want to pay as little taxes as possible lol.

Which is why a flat tax won't work. Steve Jobs makes a gazillion in stock options and pays nothing because his W-2 says $1. Gramma makes $1,400 a month on SS and pays more than Steve in taxes.

Rich people don't make their money on salary. Which is why a flat tax is a tax on the poor. Which the rich are fine with, of course.

12-18-2023, 02:54 PM

#50

OOfff

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Joined APC: Sep 2016

Posts: 6,716

Quote:

Originally Posted by demon llama

flat tax proponents usually favor getting rid of all loopholes, but then always seem to have exceptions for housing, retirement plans, capital gains, and all the other things they benefit from.