GOPers with businesses are starting to visit their tax accountants and freaking out. They thought they were part of the 1%, but actually they are just upper 99%.
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How do they know what they'll get? Has anyone even had time to read the thing and figure out the consequences yet?
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Most businesses have done their end of year accounting (we've done it) and accountants move fast at understanding this kind of thing. So a lot of people have heard a rough analysis of 2018 taxes as part of closing out 2017.
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Businesses with good accountants are either super wealthy and gonna be fine, are somewhere in the middle and their accountants will restructure things to help them out, or screwed. Professions on the pass thru exclusion list (doctors, lawyers, accountants) are in trouble.
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Engineers were almost on the list but they were somehow removed last minute. Notable: restructuring things to pay lower taxes isn't always great; it can affect how you do business, what benefits you can give, etc. It's a "market distortion" as they sometimes call it.
End of conversation
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