In a continued tantrum against the “Tax Cuts and Jobs Act,” Governor Cuomo called the tax changes an “economic missile” as he unveiled his new budget proposal for the fiscal year. His solution? Raise more taxes mainly on businesses and restructure certain taxes so that New York … [Read more...] about Cuomo Unhinged
Governor Cuomo has come out blasting the new tax law, and in particular the substantial reduction in the deduction for State and Local Taxes (“SALT”), as unconstitutional and an “attack only on blue states.” But everybody who has any knowledge of taxation and its … [Read more...] about Governor Cuomo: Clueless or Dangerous?
This clawback, like the Pease Amendment , is hidden in a calculation. This is fraudulent -- it intentionally tries to deceive. and tax law should not try to deceive taxpayers. With this maneuver, the Republicans are looking like the Democrats. The lowest tax bracket is the … [Read more...] about More on the GOP Clawback Proposal
While we're on the subject of tax reform, one particular item that could be included in the package is the elimination of the individual mandate. Since SCOTUS classified the penalty as a tax, it is one that can be repealed as part of the reform, and would produce an estimated … [Read more...] about Why the Individual Mandate (Tax!) Needs To Go
The GOP Senate released its own version of a tax reform plan with a few differences from the House version. The most notable example is a one-year delay on cutting the corporate tax rate from 35% to 20% -- meaning that the tax change would not take affect until 2019. Their … [Read more...] about Senate Release Its Own Tax Plan; Wants to Delay Corporate Tax Cuts