Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

2015 Federal Tax Inflation Adjustments

Posted by taxguru on September 18, 2014

This year, two tax publishers have already calculated the inflation adjusted tax brackets for 2015, which are handy for tax planning purposes.  Notably, the annual gifting exclusion will remain at $14,000 for 2015.

 

Wolters Kluwer, CCH Projects Inflation-Adjusted Tax Brackets and Other Amounts for 2015

 

Bloomberg BNA has this handy 17 page pdf of the upcoming inflation adjustments for 2015.

 

Update: Tax Foundation has posted a very handy summary of the 2015 adjustments.

 

Posted in Uncategorized | Comments Off

2014 Calif Tax Rates

Posted by taxguru on September 18, 2014

Spidell has a handy two page pdf of the new inflation adjusted tax rate schedules for California income taxes. 

 

 

Posted in Calif | Comments Off

Pushing back against the IRS PTIN Fees

Posted by taxguru on September 10, 2014

Interesting article and comments regarding the IRS’s recently enacted policy of charging us preparers for the annual use of a PTIN, which used to be free.  It’s great to see other tax practitioners who are not afraid to publicly disagree with IRS practices. 

 CPAs Sue IRS over PTIN Fees

The main concern isn’t the amount of money IRS is charging for the PTIN, which is actually a small fraction of what we already pay to maintain our CPA licenses; but the increasing control IRS is trying to exercise over our relationship with our clients in regard to helping them legally reduce their tax burdens. 

 

Posted in IRS, preparers | Comments Off

Our rulers continue to destroy founding principles

Posted by taxguru on September 9, 2014

It used to be a fundamental principle of this country that people can’t be prosecuted based on retroactive changes in laws.  That is the same as changing the rules of a game after it has started, or after it has been finished. 

Another example of the unfairness of retroactive law changes.  It’s as if the speed limit on a road were reduced by 20 MPH from what it had  long been; say from 55 down to 35.  Then, all drivers who had previously gone between 35 and 55 on that road in past years are sent tickets by the local policing agency, fining them for having exceeded the retroactively established 35 MPH limit.  It violates any sense of fairness.  

This stomach turning headline from CCH shows that fairness is a concept we just have to learn to live without in our current Bizarro world, aka the New Normal.. 

Lew Urges Congress to Pass Retroactive Ban on Inversions

What Treasury Secretary Jack Lew is advocating is, allowing taxpayers to set up legal methods of reducing their taxes under current laws, and then changing those laws retroactively to make those tax savings steps illegal.  I can’t be the only one with a deep visceral reaction to this kind of blatant over-reach by our Imperial Masters in DC. 

Any CongressPerson who does vote for such a retroactive change will obviously be violating the Constitution, but that is SOP for our rulers from both Parties in DC, where the Constitution is no longer considered to be a sacred governing document.

 

Posted in TaxPlanning | Comments Off

Singing about the IRS scandal…

Posted by taxguru on September 6, 2014

A live version of Remy’s “What are the Chances (An IRS Love Song).”

 

 

 

Posted in IRS, Music | Comments Off

IRS Obstruction of Justice Continues Unabated…

Posted by taxguru on September 6, 2014

Even after being caught red-handed lying about the status of Lois Lerner’s emails, IRS employees continue to stonewall any attempts to dig into the crimes committed by her and her accomplices all the way up the chain of command in the bHo Regime.  With no fear of prosecution for the original crimes or the obvious cover-ups and perjury, they have no incentive to cooperate with GOP investigators.  

 

IRS says it has lost emails from 5 more employees –  Before long, they will just say that no records of any emails exist any more.

 

GOP lawmaker accuses DOJ of hiding former employee linked to IRS scandal –  It’s quite an uphill battle to investigate IRS crimes when the perpetrators are being assisted in their perjury and cover-ups by Eric Holder and his DOJ, as well as by the MSM who continue to pretend that IRS has never done anything wrong in regard to Tea Party groups.

 

Missing Person Alert! Where is IRS Scandal Figure Andrew Strelka?

 

GOP lawmaker says hundreds of server drives could still contain missing IRS emails

 

 

Posted in Crooks, IRS | Comments Off

IRS Perjury Exposed…

Posted by taxguru on August 26, 2014

Of course, we shouldn’t hold our breath waiting for anyone in the IRS to be punished for lying about the emails.  Eric Holder will continue to cover their asses. 

 

GOP lawmakers say DOJ probe into IRS ‘compromised,’ demand special counsel – How terribly racist of the GOP to not trust Eric Holder to investigate crimes committed in support of the bHo Regime.  

 

Judicial Watch: DOJ attorneys suggest ‘lost’ Lerner emails likely still exist – FoxNews  

 

Judicial Watch: DOJ Admits Lois Lerner’s E-mails Exist – NRO’s The Corner

 

IRS lawyer: Lois Lerner’s Blackberry deliberately destroyed after start of congressional probe –  She has been a textbook example of how obstruction of justice and destroying evidence are done. 

 

George Will: IRS is ‘off the rails’ and ‘corrupted’ – The understatement of the month.

 

  

Posted in Crooks, IRS | Comments Off

Why we pay taxes…

Posted by taxguru on August 15, 2014

Here is a short explanation from Andrew Klavan on the main reason we have to pay taxes, income redistribution

 

 

 I’m sure it helps maintain that great patriotic feeling to know that what you are sending to IRS will pay for someone’s cell phone and cable TV bills, along with other necessities of life.

 

Posted in SoakTheRich, video | Comments Off

IRS Perjury Continues

Posted by taxguru on August 15, 2014

Now they are telling their lies to a federal district court.  With Eric Holder refusing to prosecute anyone in the IRS, they have nothing to fear from this latest perjury.

Under Oath: IRS officials detail Lerner computer crash in declarations to court

 

One judge isn’t satisfied with the IRS non-answers.

Judge launches special inquiry into missing IRS emails and Lerner hard drive

 

 

Posted in Crooks, IRS | Comments Off

If not Accounting, what profession?

Posted by taxguru on August 6, 2014

I’ve been a huge  fan of Monty Python’s Flying Circus since I first saw them on TV in the early 1970s.  They had a series of live reunion shows in July at the O2 Arena in London.  The final show, on Sunday, July 20, 2014 was broadcast all over the world and was great.  

Here is a funny sketch from that final show making fun of Chartered Accountants, which are the UK equivalent of CPAs.  

 

 

In case YouTube blocks this video, here is a link to it on my ScreenCast page.

 

 

Posted in humor, video | Comments Off

 
Follow

Get every new post delivered to your Inbox.

Join 150 other followers