Lightfoot says she needs Springfield’s help to erase $1 billion-plus shortfall – Chicago Sun-Times

But the mayor still offered no specifics on the kind of help she will seek; it could include permission to raise the estate transfer tax, as well as allowing the city to tax professional services, including attorneys and accountants.
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debtsor
4 years ago

I split my time between Chicago and my suburban office. A professional services tax will immediately cause me to readjust the amount of time I spend in Chicago. There’s no way my customers will pay a 10% tax on top of my professional fees. I would just have to eat the tax. But I’m not going to do that. I’m going to make my suburban office my primary office and only work downtown when I have to. That way all revenue will originate and flow through my suburban office and I will avoid the tax entirely.

mike Williams
4 years ago
Reply to  debtsor

Dear Debstor,

You are supposed to just bend over and take it (which in this case is pay the 10% tax).
No fair running away to the suburbs.

Sincerely,
Mayor Lighthead

P.S. Gee, do you thing any other professionals might do what you are planning? That would make me look like a fool. I know, I’ll double the tax to 20% on those that stay. That should work. Problem solved.

debtsor
4 years ago
Reply to  mike Williams

I’d survive an audit too. Most of my customers are in the suburbs anyways, I’d win any audit that tries to charge my suburban clients a city of chicago tax. The Chicago is merely for convenience and the address. I’ll suffer a little inconvenience to save my pocketbook the tax! I think a lot of small business professionals will do the same thing too. It’s the big, larger, captive firms that will have a more difficult time; but then again, if their customers are out of state, and the business has many locations, it only makes sense to put the… Read more »

Willowglen
4 years ago
Reply to  debtsor

Real estate transfer tax? (Estimated take $14M). Professional services tax? (Who knows what it will bring in but it will be less than projected due to comments such as Debtsor’s (likely very accurate)? Kick the can some more on pensions? Yup. Better run workers comp? Sure. Waste and abuse with leave? Yes to that, too. But all of these things still leave a huge budget gap. The numbers do not work. My guess is that Lightfoot is still pushing for a state bailout of sorts – of course – the state has no money. Emmanuel knew what he was doing… Read more »

debtsor
4 years ago
Reply to  Willowglen

” Emmanuel knew what he was doing when he declined to run again.”

Rahm’s new career is bashing progressives. Even he thinks they’ve gone too far left.

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