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Topic: Provisions of new US tax changes  (Read 409 times)

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Provisions of new US tax changes
« on: December 23, 2017, 11:13:57 PM »
Ok, time to leave cookies out for Santa.

« Last Edit: December 23, 2017, 11:52:24 PM by Nan D. »


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Re: Provisions of new US tax changes
« Reply #1 on: December 24, 2017, 01:04:02 PM »
Ok, time to leave cookies out for Santa.
Huh? Don't quite know how to interpret this one......
That I'm aware of......Santa wasn't in the new tax changes :)
Fred


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Re: Provisions of new US tax changes
« Reply #2 on: December 24, 2017, 01:58:48 PM »
Ok, time to leave cookies out for Santa.


Particularly if you are filing online.*



*this attempt at a joke may not be understand by folks who are not nerds like myself.
Dual USC/UKC living in the UK since May 2016


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Re: Provisions of new US tax changes
« Reply #3 on: December 24, 2017, 02:33:58 PM »
Color me annoyed that the new scheme gives corporations a break from dual taxation, but not individuals. >:(


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Re: Provisions of new US tax changes
« Reply #4 on: December 24, 2017, 02:51:20 PM »
Color me annoyed that the new scheme gives corporations a break from dual taxation, but not individuals. >:(

What new measure gives Corporations a break from dual taxation? I think I must have missed that, I thought the aim was to encourage Corporations to move their profit centres back to the USA with the much lower corporate tax rate.
Dual USC/UKC living in the UK since May 2016


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Re: Provisions of new US tax changes
« Reply #5 on: December 24, 2017, 03:02:05 PM »
Santa is well known for moving his corporate headquarters to the North Pole to avoid tax...


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Re: Provisions of new US tax changes
« Reply #6 on: December 24, 2017, 03:15:03 PM »
I coulda misread it. Or this might not be accurate.

http://www.savingtoinvest.com/trump-tax-plan-cuts-and-changes-in-2017-2018-and-beyond/  under Global & International Taxes.

https://www.pri.org/stories/2017-12-17/heres-whats-final-version-republican-tax-bill

And Santa had better not mind the oil drilling coming from nearby in the Artic Wildlife Refuge.
« Last Edit: December 24, 2017, 03:42:39 PM by Nan D. »


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Re: Provisions of new US tax changes
« Reply #7 on: December 24, 2017, 08:46:58 PM »
I coulda misread it. Or this might not be accurate.

http://www.savingtoinvest.com/trump-tax-plan-cuts-and-changes-in-2017-2018-and-beyond/  under Global & International Taxes.

https://www.pri.org/stories/2017-12-17/heres-whats-final-version-republican-tax-bill

And Santa had better not mind the oil drilling coming from nearby in the Artic Wildlife Refuge.

Thanks for those links.

Quote
Territorial system: Exempts US corporations from US taxes on most of their future foreign profits, ending the present worldwide system of taxing profits of all US-based businesses, no matter where the profits are earned.

Repatriation: Sets a one-time mandatory tax of 8 percent for illiquid assets and 15.5 percent for cash and cash equivalents on $2.6 trillion in U.S. business profits currently held overseas. That foreign cash pile was created by a rule that allowed foreign profits to be tax deferred if they were not brought into the United States, or repatriated, a tax rule that would be rendered obsolete by the territorial system.
Dual USC/UKC living in the UK since May 2016


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