Quotes About Tax

Also note that only 50 percent of your meal costs can be deducted while traveling.

tax laws allow you to offset your earned income by up to $25,000 in passive losses from real estate, as long as your adjusted gross income is below $100,000.

The government grants tax and legal loopholes to real estate investors to encourage them to do a job that the government can't.

Their LLC has good credit and is able to borrow $600,000 without the need for personal guarantees. The loan has the effect of increasing each owner's tax basis by $200,000. Because distributions are taxed only when they exceed an owner's basis, this means that Lisa, Lyn and Lovella can each receive $200,000 in profit distributions tax free from the LLC.

To avoid the double tax of a C corporation, most C corporation owners make sure there are no profits at the end of the year. Instead, they use all the write-offs allowed to reduce their net income.

one of the most significant benefits of the LLC, and a key reason for its existence, is the fact that the IRS recognizes it as a pass-through tax entity. All of the profits and losses of the business flow through the LLC without tax. They flow through to the business owner's tax return and are dealt with at the individual level.

Mitt Romney has won the 2012 presidential nomination by promising Republicans that he would end a so-called 'culture of dependency' on welfare - welfare defined as 'free stuff' and food stamps for poor folks, not tax breaks for Big Oil or tax shelters for Bain executives.

The tax on capital gains in Canada is twice as high as in communist China and we wonder why our ideas are being held back.

Beware of politicians who tell you they'll do all these wonderful things for you for only a small tax increase. Those tax increases are never as small as you might imagine, and the benefits are always smaller than promised and/or imagined.

Today it is evident that we have two political parties: the Tax and Spenders and the No-Tax and Spenders. Neither party is fiscally conservative. Is there no room at the inn for an honest conservative? A conservative who makes the case for smaller government on its merits and not just as the fallback option when fiscal bankruptcy threatens?

I always felt thrilled and amazed that I could put actor on my tax form.

Individuals and businesses must participate in a national discussion about a simpler tax system, one that collects sufficient revenue to meet appropriate federal responsibilities, but one resting on a broader, fairer tax base without penalizing saving and investing, the backbone of a strong, decentralized and thriving economy.

Balance the federal budget now, not 15 years from now, not 20 years from now, but now. And throw out the entire federal tax system, replace it with a fair tax, a consumption tax, that by all measurements is just that. It's fair.

Every sandwich I sold, the city got more sales tax, the state got more. But they came in and they would want to give me a ticket because I have a sign outside trying to get more business, right?

When a common man is discouraged to buy a movie ticket, it becomes a concern for the entire film industry. I think entertainment tax is too steep.

We need to make sure that people get good adequate health care that's not necessarily tied to their insurance, that's not mandated, that's not taxed.

Health care has gotten really weird politically. We've sort of tied ourselves in knots on this issue in a way that we don't do... for criminal-justice reform or tax policy or climate policy.

Finally, you can keep the money in the corporation and wait until you die. Obviously, this isn't my favorite technique. However, upon death, your heirs get a step up in basis for the corporate stock and can liquidate the corporation and receive the proceeds tax free.

Corporate tax dodging impacts us across generations and over time. It is corrosive. It is unethical. It is unsustainable.

Giving someone a one-time stimulus check, or a one-time tax cut that expires doesn't allow the predictability that business needs.

The alienation, the downright visceral frustration, of the new American ideologues, the bone in their craw, is the unacknowledged fact that America has never been an especially capitalist country. The postal system, the land grant provision for public education, the national park system, the Homestead Act, the graduated income tax, the Social Security system, the G.I. Bill -- all of these were and are massive distributions or redistributions of wealth meant to benefit the population at large.

Llama al diezmo que se paga a la Iglesia un impuesto «puramente negativo» pues no genera beneficio alguno ni al propietario, ni al arrendatario, ni al soberano, sólo a la Iglesia (lo que confirma el tibio creyente que era Adam Smith).

learned from those I interviewed that tax efficiency is one of the most direct pathways to shorten the time it takes to get from where you are now to where you want to be financially.

Are there any exceptions to the rule? Only two that experts tell me are worth considering in so far as one needs the tax efficiency. Vanguard and TIAA-CREF both offer extremely low-cost variable annuities with a list of low-cost index funds to choose from. They do not charge commissions, so there are no surrender charges if you want to cash in.