Tax Law 101 – Flaws, Components, Sources, and Determination
A good way to learn about tax law is to familiarize yourself with its main flaws. These flaws can be categorized into four main categories: Structure, Components, Sources, and Determination. A comprehensive review of tax laws can help you understand their basic components and flaws and make informed decisions. This article explores the flaws of tax law and outlines ways to fix them. Also, discover the different types of taxation and understand how they affect you.
Fundamental flaws of tax law
The new tax code creates a glaring problem for high-income people: a 20 percent deduction for pass-through income. Pass-through income includes profits from sole proprietorships, partnerships, and S corporations. Because these incomes are taxed at a lower rate than wages, these individuals are ...