Trump vowed to keep
Socialism for the Wealthy
“We renew our
resolve that America America America
Trump’s 20% deduction applies ONLY to bigger ‘small’
businesses
Final rules on this huge tax giveaway were issued and only
Trump and his friends qualify for the 20% deduction—profit bump for ‘pass-through’
to match the giveaway to corporations. Many wealthy people hide their assets in
separate entities—LLCs, corporations, partnerships. This is because you only
get the assets (if any) of that entity if you sue because you were harmed by
that entity. For instance, Trump uses over 500
LLCs in his empire. He uses debt
which is deductible. Some use debt as income so they have no income tax. And
if the wealthy structure
their ventures in such a way that each creates losses, they may end up with
a much lower percentage of taxes than the average high income person. Thus a
NYC computer coder earning $180,000 but having only the standard deduction
($12,000) will be paying 32% of income ($57,000) while Jared
Kushner pays 0%: a refund $ -4,000. The net result is that a small real
estate investor (1-3 buildings) gets no break from the 20% deal. Nor can they
take advantage of the new Opportunity
Zones. For instance, an investor who invests $1 million and sees their
investment appreciate to $1.8 million by 2028 would be able to sell at any time
after that without paying federal
income tax on proceeds in excess of $1 million. This benefits large
real estate moguls like Jared
and friends who can skip taxes on projects they would do anyway. Regular
tax payers pay for the infrastructure they use without paying any taxes. You
have a tax-FREE option.
Use Trump’s tax shelter: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300
How much tax is due
on money you inherit?
Most of your
inheritance is NOT tax free. The feds and states have different rules. Estate
tax is paid out of the decedent’s assets before any distribution to
beneficiaries. An inheritance tax is a state tax that you pay
when you receive money or property from the estate of a deceased person. Unlike
the federal estate tax,
the beneficiary of the property is responsible for paying the tax, not the
estate. However, as of 2018, only six states impose an inheritance tax. The
six states that impose an inheritance tax include Iowa Kentucky Maryland Nebraska Pennsylvania
Avoid TTax $39.99 Refund Processing fee
You don’t need to spend $40 just to receive your refund.
Turbo and other preparers advertise $0
cost filing. But then how does the cost end up over $50? We’ve been had! We
want to receive our refund quickly and we don’t want to pay up front so we go
for the Refund Processing Fee. Just like the quick refund loans of the past, we
are going to pay unconscionable costs for instant gratification. We are misled
by ‘$0 cost’ promise. By the time we finish with Turbo, we
pay $79.98 or more. Each step of our return adds costs we are not informed
about. And another fee to file state return too. I gave up after the first
year. I found really free sites like Tax Hawk and FreeTaxUSA on irs.gov/app/freeFile/. One charges $12.95 for state filing.
I have been using both for 5 years. My
returns require almost all the forms and they still cost $12.95 total.
Actually, you can avoid
the state charge if you file in a state that has its own free site like New Jersey. IRS
issues more than 9 out of 10 refunds in less than 21 days. You can track your
refund using our Where’s My Refund? tool.
BEWARE not all ETFs are worth the cost
ETFs are day-traded index funds. As an index fund, the
manager has settled on the securities. So why do some ETFs charge us over 1%?
Could it be that Wall Street has turned this index fund into another cash cow?
This one is a fund of funds and thus has a lot of mouths to feed. People invest
in BDCs mainly as income plays because they generally pay chunky dividends. In
that vein, the BIZD fund sports a 30-day SEC yield of 9.67 percent. But that
can turn south in a minute and you will be stuck with the high
annual expense charges. Low cost beats high cost every time.
Another way the
wealthy avoid paying their fair share: Put assets on the oceans under tax-free
state registry. Some
yachts carry $ millions in art. The yacht and the art are inside separate
legal entities so that they can avoid personal taxation and legal attachment
from lawsuits. Dems may find it hard to tax wealth if it does not appear under
a person’s name but under a trust. In fact, the wealthy
are laughing at Dems ideas to tax them. Their banks
gained from Trump’s tax cut—tax fell to 19% from (2016) 28%. Wealthy got
more dividends. You can avoid future taxation also by using an IRS-OK account.
Use your tax-FREE
account: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
Why pay 12% tax on
my 2% interest?
There has to be a
better way: I did my taxes and that includes paying tax on my interest from
various financial institutions. I keep the money liquid because of the phantom
‘emergency’ that never happens. Meanwhile year after year I have to pay tax on
the meager earnings. This year, I found a better way to
never pay taxes again. There is an IRS-approved account that allows me to
earn interest but never pay tax on the earnings. I can open this account
at almost any institution—bank, brokerage, mutual fund, etc. I can take out my
contributions anytime without tax. If I never use it, I can spend all the
earning later without paying
taxes. My family can use this account for any final expenses so I don’t need
life insurance once the kids are grown.
**************
Truth isn’t truth, his
lawyer says
Yes, he
‘coached’ Cohen for Congress, his new lawyer says
Two Americas
***********************
How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!
Trump spends most of time with TV: wasted
taxes—60% of $1/2
million + free planes
Trump gives up our open spaces in the Interior Dept to big
oil lobbyist: more oil fields!
How could $1.8-billion Navy destroyer crash into
oncoming cargo ships in 2017?
Trump elevates Koch
Industry employee to ‘regulate’ cancer in drinking water.
Trump border troops
cost $1 billions and catch very few murders, smugglers, bad guys.
Trump’s weekends
cost us $64 millions: could have built
the Wall with rich friends
SCAMS/SPINS:
NDG Financial caught
making fake loans misrepresenting; not licensed: barred; no jail.
Religionists are
wrong: God
did NOT install Trump—GOP tricks and Putin’s mob did.
Home renovation
scam: ‘property
brothers’ will NOT your house
Trucks too
expensive—good
for GM; bad for us: GM profit rose-dump cars and staff
Keyless
cars are natural for theft: you can buy the ‘relay boxes’ to steal cars for $20.
Cable
TV becoming a scam? Watch HBO for $15 not $150.
Name-brand
foods and spirits may be scams. Costco Amazon test the experts.
Cash Tyme pay-day
lender caught
taking unauthorized charges. Trump
gives breaks
Calm.com to settle
your anxiety, sleep, etc worth
$1 billion according to brokers.
Capital Securities,
‘Mr T’ confessed to theft
of $1.5 million from 2 teachers. Suicide.
Brokerage clients
seeking 2nd opinion for more advice: like getting home
remodeled.
Edward Lee Moody,
VA, stole
from seniors/church $6.6 million Ponzi: 13 yrs jail.
Scams
against seniors by financial firms and rogue telemarketers on the rise.
BEWARE
Dems try to use Wall
money to improve
SS benefits for poor retirees
Fake Wall crisis! Trump
hires undocumented workers to work in his properties
Dear President
Trump, this is how drug
smugglers get over/under existing Walls.
Trump has friends at
Deutsche Bank the Russian
‘money-laundering’ bank.
“Individual 1” could be a Russian “asset”: Why FBI
opened a file on The Mob Boss.
Trump has done what Putin
wants: EXIT NATO,
IRAN,
SYRIA,
INF
Treaty, AFGAN.
The Mob Boss can never go to jail: Trump
has Kava as Supreme so no indictment.
‘No man is above the
law’ … well up till now. Dictators
nullify courts first, then votes.
Supremes
protect Don’s ‘Orders’? – GOP: ‘Sure, pres
can change
Constitution anytime.’
----------------------------------
Jobs:
GM
fires 4,000 white collar jobs—mostly tech; files new mass layoff notices
with state
Ford
hires 500 in Chicago to make SUVs: stop making cars and Mustang.
Sears
45,000 jobs saved from closing but pensions
unclear.
Who owns your account now?
DNA testing service gives
your data without your knowledge: your relative does crime?
GE
long-term care program gets bonus from corp GE to keep policies alive.
Amazing! All your
data is available on the internet: How
to remove from some sites.
SunTrust
Banks merge into BB&T with new name but BBT CEO King.
Miracle:
Frozen
cat survives in Kalispell: all it takes is a hair dryer.
IAN
41 Watchung Plaza,
B242
973.746.2014
Alert
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