President’s Executive Order On Payroll Taxes – Some Detail
I am so glad I don’t work for a payroll company. What does “generally is less than” mean? If you are figuring out people’s withholding, you need be exact. For people who have set salaries, you should be able to figure it out, but it is kind of difficult for people whose pay is irregular, which is more common nowadays than it used to be.
The other thing that is odd about the provision is the cliff effect. If you are in the “generally less than $4,000” category it seems like all your social security is deferred, but if you are not then none is
Conservation Easements -Is IRS Burning The Forest To Save It?
I am not a big fan of using tax incentives to support worthy goals, but it seems that there is no stopping it. As it presently works conservation easement deductions represent a potential for abuse that will continue to exist even after DOJ and class actions attorney finish their march through Georgia which may wreck the professional lives of many accountants, lawyers, appraisers and others attached to the industry.
A better model might be what is done in low-income housing. There is a credit that is limited by state population and doled out annually. That creates an incentive to use the federal tax benefits more wisely.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.