MAGA: CBS wouldn't release the full unedited transcript. Normal people: Uh, how do you know that if the full unedited transcript wasn't released?
It's not misleading. The chart indicates that she is expanding the startup expense deduction from $5,000 to $50,000, and she also mentioned this during the debate. Currently, you can deduct $5,000 in startup costs in the first year, and any remaining amount must be amortized over 15 years. This proposal essentially allows you to deduct up to $50,000 in the first year, which significantly changes the timeline for tax relief. Since the average startup cost is around $40,000, this absolutely benefits new businesses.
Other income the business owner has. Worst case scenario you create an NOL. This is by far the best economic policy either candidate has put forth.
Currently, if you spend more than $50k, it reduces the amount you can deduct. If you spend $55k, you have to amortize the entire amount.
It's a tax deduction, and the vast majority of small businesses are pass-through or disregarded entities which are taxed personally.
@basso - I don't know if the rumors are true or not, but the Harris campaign sucks...With all the money and resources that they have and with Trump messing up the way he has, there is no way that she should not be over 50%. I think it was @DaDakota who once said that the the Dems want fight back and it's true... The entire party should be taking a page out of Colin Allred book on what he did... He responded to Ted Cruz ads and he pushed back on the lies and still added a positive note... That's how you're suppose to do it... I wish that Kamala had the people from the Lincoln Project running her campaign.. They know how to fight... T_Man
She needs to ramp up the pressure on Trump, call him what he is a dumb ignorant racist ******* who already burned this country down for 4 years making himself richer at everyone else's expense. DD
