The soon to be released Lexus LC500 w/ v8. MSRP under 100k. Even though it was raining in LA, I went to go visit the LA auto show. There were a lot of new cars unrevealed for the first time and I checked out some of the 2017 models. While test driving cars, I realized that you could make a decent chunk of change just test driving cars at this event. Depending if you had invitations, car manufacturers were handling out cash gift cards if you drove or checked out specific models. Anyways, out of all the cars I was interested in, Cars I would get... Prius Prime
Cars I would avoid...
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Taken from Trump's website. If he's a man of his word, it looks like the tax rates are in for a change. Everybody should have an easier time filing their taxes and saving some dough. The one per-centers should be pretty happy as well with saving some extra dollars for a rainy day! Looks like big government is going small now with a potential repeal of Obamacare! (my guess is that it'll only be a change). Looks like the private economy will grow at the expense of big government. Individual Income Tax Tax rates The Trump Plan will collapse the current seven tax brackets to three brackets. The rates and breakpoints are as shown below. Low-income Americans will have an effective income tax rate of 0. The tax brackets are similar to those in the House GOP tax blueprint. Brackets & Rates for Married-Joint filers: Less than $75,000: 12% More than $75,000 but less than $225,000: 25% More than $225,000: 33% *Brackets for single filers are ½ of these amounts The Trump Plan will retain the existing capital gains rate structure (maximum rate of 20 percent) with tax brackets shown above. Carried interest will be taxed as ordinary income. The 3.8 percent Obamacare tax on investment income will be repealed, as will the alternative minimum tax. Deductions The Trump Plan will increase the standard deduction for joint filers to $30,000, from $12,600, and the standard deduction for single filers will be $15,000. The personal exemptions will be eliminated as will the head-of-household filing status. In addition, the Trump Plan will cap itemized deductions at $200,000 for Married-Joint filers or $100,000 for Single filers. Looks like a party for businesses as well! Business Tax The Trump Plan will lower the business tax rate from 35 percent to 15 percent, and eliminate the corporate alternative minimum tax. This rate is available to all businesses, both small and large, that want to retain the profits within the business. It will provide a deemed repatriation of corporate profits held offshore at a one-time tax rate of 10 percent. It eliminates most corporate tax expenditures except for the Research and Development credit. Firms engaged in manufacturing in the US may elect to expense capital investment and lose the deductibility of corporate interest expense. An election once made can only be revoked within the first 3 years of election; if revoked, returns for prior years would need to be amended to show revised status. After 3 years, election is irrevocable. The annual cap for the business tax credit for on-site childcare authorized by Sec. 205 of the Economic Growth and Tax Relief Reconciliation Act of 2001 would be increased to $500,000 per year (up from $150,000) and recapture period would be reduced to 5 years (down from 10 years). Businesses that pay a portion of an employee’s childcare expenses can exclude those contributions from income. Employees who are recipients of direct employer subsidies would not be able to exclude those costs from the individual income tax and the costs of direct subsidies to employees could not be used as a cost eligible for the credit. Looks like Apple and other companies with huge off-shore bank accounts might be bringing some of those dollars back instead of hoarding them abroad! Time to make it rain.
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