Review of the tax plan? Accountants? CPA's opinion please

[trixxie]

SEMI-VENT ~ Not trying to start a flame war here - at all. I'm just so disappointed in the US Government and the "tax reform bill" that is pending.

I'm curious from rank and file accountants and CPA's of what they think of the tax plan. I don't understand it to be "reform" in the way of the "tax reform" of the 1980's.
It's a tax cut for rich people and corporations. From what I've read - the poorest of the poor will pay taxes.
Poor people cannot ill afford to pay taxes - and the people that represent us (supposedly) seem to be in the pocket of big business and rich people.

RANT over - mods? If I'm out of line - please delete.

[KayKay]

I'm a CPA, trixxie. I don't know if you knew that. I used to prepare tax returns for a living. I do not work in public accounting anymore but I do maintain my license.

We have to follow the forum rules which limits promoting of a personal advocacy, which includes politics.

I haven't read either bill, so I can't form an opinion about them. I will say that tax laws are immensely complex and take years and years to master. The CBO made huge mistakes in their calculations with the ACA (that we're still discovering now, all of these years later) and therefore I don't really trust them to bang out accurate (or even unbiased) reports now. I just don't think we have enough information. How reporters (or worse yet - Facebook users) without any tax background can become "experts" within a day of the bill being released is beyond my capacity to understand.

Society today is quick to form opinions based on carefully edited sound bites; my opinion is that we all, no matter what side of the political spectrum we're on (because both sides do it), need to stop letting ourselves be manipulated.

[LucyVanPelt]

Even the "simplified" tax reform is complicated. I rely on the CBO to help understand what's in the bill, but I don't trust their predictions.

The CBO has an outdated/misguided economic philosophy which slants their projections making them unreliable.

[trixxie]

Originally Posted by KayKay

I'm a CPA, trixxie. I don't know if you knew that. I used to prepare tax returns for a living. I do not work in public accounting anymore but I do maintain my license.

We have to follow the forum rules which limits promoting of a personal advocacy, which includes politics.

(

Yes I know you are a CPA - and respect the rules of the forum. My apologies for this thread.

[Knot2loud]

The tax bill is about 400 pages long and contains enough Pork to make your head spin.

There are so many different forms of taxation that I'm almost beyond caring. What's the choice? Pay up or suffer the consequences.

UGH! I've said enough here to make my own stomach squirm.

Nuff said!

[LucyVanPelt]

Originally Posted by Knot2loud

Pay up or suffer the consequences.
!

Pay up AND suffer the consequences!

[Knot2loud]

Originally Posted by LucyVanPelt

Pay up AND suffer the consequences!

Yes. That.