Biden tax proposals - MFJ

[Anonymous]

We make no where near that limit so i'd say tax them lights out

[Anonymous]

Anonymous wrote:We make no where near that limit so i'd say tax them lights out

+1

[Anonymous]

Apparently taxes will be raised on $200k and above. The $400k quoted was for households. Per Jen Psaki today.

[Anonymous]

Anonymous wrote:Apparently taxes will be raised on $200k and above. The $400k quoted was for households. Per Jen Psaki today.

Even better.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I haven’t been able to find any clarity on the income thresholds for MFJ.

I see he is targeting $400k for individuals but what about MFJ? In a perfect world it would be 800k MFJ but I highly doubt that occurs.

Has anyone been able to find any data on this?

It’s 400k for households. I suggest you move to Monte Carlo

Not according to Bloomberg - this specifically says INDIVIDUALS, not Households:
https://www.bloomberg.com/news/articles/2021-03-15/biden-eyes-first-major-tax-hike-since-1993-in-next-economic-plan

The following are among proposals currently planned or under consideration, according to the people, who asked not to be named as the discussions are private:

Raising the corporate tax rate to 28% from 21%
Paring back tax preferences for so-called pass-through businesses, such as limited-liability companies or partnerships
Raising the income tax rate on individuals earning more than $400,000
Expanding the estate tax’s reach
A higher capital-gains tax rate for individuals earning at least $1 million annually. (Biden on the campaign trail proposed applying income-tax rates, which would be higher)

Now obviously nothing is given until we see actual language, and then how it's going to actually get done.

This is infuriating. My LLC will get taxed more, my county taxes will probably increase, and it will mean raising my prices. Things will get more expensive and people will lose jobs. How about they just tax Bezos, Buffet, Zuckerberg, Gates, and endowment’s at places like Harvard’s at really high rates?

Or maybe you just end up paying a little.more and the world doesn't end.

[Anonymous]

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

Wait. “MFJ” is clearly not common knowledge. Or am I missing sarcasm here?

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

Most people don’t have a clue about how taxes work. Barely anyone I’ve discussed taxes with, including lawyers and other professionals, understands what marginal tax brackets are.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

Wait. “MFJ” is clearly not common knowledge. Or am I missing sarcasm here?

I've not the previous poster, but MFJ is a strange acronym that I have never seen used anywhere before this thread. I know what the term means and I've done my own taxes for the last 20+ years, but I had to do a double take to figure it out. It wasn't immediately obvious from the thread title.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

Wait. “MFJ” is clearly not common knowledge. Or am I missing sarcasm here?

I've not the previous poster, but MFJ is a strange acronym that I have never seen used anywhere before this thread. I know what the term means and I've done my own taxes for the last 20+ years, but I had to do a double take to figure it out. It wasn't immediately obvious from the thread title.

NP but it should be pretty obvious from the language in the OP that discusses tax proposals related to individuals and MFJ.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

Wait. “MFJ” is clearly not common knowledge. Or am I missing sarcasm here?

I've not the previous poster, but MFJ is a strange acronym that I have never seen used anywhere before this thread. I know what the term means and I've done my own taxes for the last 20+ years, but I had to do a double take to figure it out. It wasn't immediately obvious from the thread title.

NP but it should be pretty obvious from the language in the OP that discusses tax proposals related to individuals and MFJ.

Fair; but it is a weird acronym that isn't really common knowledge (financial professional here). Though I swear that very people here (including what appears to be OP) understand the concept of marginal tax rates.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

Wait. “MFJ” is clearly not common knowledge. Or am I missing sarcasm here?

I've not the previous poster, but MFJ is a strange acronym that I have never seen used anywhere before this thread. I know what the term means and I've done my own taxes for the last 20+ years, but I had to do a double take to figure it out. It wasn't immediately obvious from the thread title.

NP but it should be pretty obvious from the language in the OP that discusses tax proposals related to individuals and MFJ.

Fair; but it is a weird acronym that isn't really common knowledge (financial professional here). Though I swear that very people here (including what appears to be OP) understand the concept of marginal tax rates.

It's on every pay stub, for God's sake

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

Wait. “MFJ” is clearly not common knowledge. Or am I missing sarcasm here?

I've not the previous poster, but MFJ is a strange acronym that I have never seen used anywhere before this thread. I know what the term means and I've done my own taxes for the last 20+ years, but I had to do a double take to figure it out. It wasn't immediately obvious from the thread title.

NP but it should be pretty obvious from the language in the OP that discusses tax proposals related to individuals and MFJ.

Fair; but it is a weird acronym that isn't really common knowledge (financial professional here). Though I swear that very people here (including what appears to be OP) understand the concept of marginal tax rates.

Never been on my pay stub. How would your employer even know how you file your taxes?
It's on every pay stub, for God's sake

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

Wait. “MFJ” is clearly not common knowledge. Or am I missing sarcasm here?

I've not the previous poster, but MFJ is a strange acronym that I have never seen used anywhere before this thread. I know what the term means and I've done my own taxes for the last 20+ years, but I had to do a double take to figure it out. It wasn't immediately obvious from the thread title.

NP but it should be pretty obvious from the language in the OP that discusses tax proposals related to individuals and MFJ.

Fair; but it is a weird acronym that isn't really common knowledge (financial professional here). Though I swear that very people here (including what appears to be OP) understand the concept of marginal tax rates.

It's on every pay stub, for God's sake

Never been on my pay stub. How would your employer even know how you file your taxes?

It's not on my paystub. All I see are my allowances and "Taxable Status: Married"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is MFJ?

It's sad that someone who is allowed to vote in this country actually has to ask that question. Sigh.

Wait. “MFJ” is clearly not common knowledge. Or am I missing sarcasm here?

I've not the previous poster, but MFJ is a strange acronym that I have never seen used anywhere before this thread. I know what the term means and I've done my own taxes for the last 20+ years, but I had to do a double take to figure it out. It wasn't immediately obvious from the thread title.

NP but it should be pretty obvious from the language in the OP that discusses tax proposals related to individuals and MFJ.

Fair; but it is a weird acronym that isn't really common knowledge (financial professional here). Though I swear that very people here (including what appears to be OP) understand the concept of marginal tax rates.

It's on every pay stub, for God's sake

Not true.

Stop trying to make fetch happen.