[100727] in Discussion of MIT-community interests
Every women needs to take this
daemon@ATHENA.MIT.EDU (Amber Lancaster)
Wed Dec 13 04:20:14 2017
Date: Sat, 9 Dec 2017 13:29:46 -0500
From: "Amber Lancaster" <amber_lancaster@specialskincellsuutr.com>
To: <mit-talk-mtg@charon.mit.edu>
ABC New Shark Tank Update
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Law firm associates and other employees of the firm should no longer be mere associates. They should instead be partners in Associates, LLC a separate partnership paid to provide services to the original firm. Their ‘profit share’ in lieu of salary from Associates, LLC would then be given the special low passthrough rate.
Thirteen law professionals, many of whom oppose or have serious concerns about the legislation, have published a paper called The Games They Will Play Tax Games, Roadblocks, and Glitches Under the New Legislation. The paper outlines the various strategies that welladvised payers will be able to use when the reform plan becomes law. The online magazine Slate calls the plan’s glitches unintentionally perverse incentives, noting that important parts of the bills were written quickly and haphazardly.
U.S. House and Senate Republicans have passed separate reform bills that, when a final joint version is worked out, will almost certainly earn the president’s signature and significantly change the code. Viewpoints on whether the GOP reform framework is good or bad predictably fall along partisan lines, but this much is undeniable the new environment will keep experts in the field busy searching for loopholes and quirks to exploit.
The reform plan is projected to increase the national debt by more than 1 trillion, even after taking into account possible economic growth sparked by lower es. The professionals behind The Games They Will Play believe that the avoidance strategies many higherincome Americans will pursue in response to the legislation will reduce revenues even more and thereby increase the true cost of the legislation and make the legislation more regressive than it now appears. They add
It looks like the corporate rate is going to drop to 20 percent, the level set by both the House and Senate bills. The individual rate for most payers will be higher than that, which, in the absence of effective antiabuse measures, opens up many avoidance opportunities. Some payers, the professionals say, will turn themselves into Ccorporations and have their income accrue in the form of corporate profits.
