No. of Recommendations: 1
Heard one talking head say they will carve out exceptions to LLC pass throughs. Mostly aiming at high earning professions such as physicians, lawyers, etc., that could operate as an LLC. Small business LLCs such as rental properties, mom & pop shops would be allowed to pass through.

All this just further proves that we need a flat tax. Too many loopholes, exceptions, etc.


Corporate taxes are basically flat. You can add exceptions, loopholes, etc. to flat taxes just as easily as you can to tax brackets.

The real issue is defining income. My proposal, which will never in a billion years come about, is define all income the same.
Print the post  

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement