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Originally Posted by Downthestretch55
Rupert,
You seem to know a lot more about this tax stuff than I do. I admit, I really don't know much about it. My accountant handles it.
So, just a question...aren't the "loopholes in the current system" there for EVERYONE??? What are these people complaining about?
They must be whiners.
Loopholes are for all!
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If you're just a regular guy that makes a salary, I don't think think there are too many loopholes. Even if you make a good salary of $150,000-$200,000, I still don't think there's much you can do. But if a person has their own company, there is all kinds of creative accounting that a person can do. And the more money a person makes, the more they can afford to spend on the best accountants and tax attorneys that know all the loopholes.
I am far from an expert on the subject, but I know that there is all kinds of creative accounting that goes on.