Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for June, 2003

Posted by taxguru on June 28, 2003

$1 billion dot-bomb payout by firms. Internet companies to pony up for alleged inflation of IPOsThis is an unusually lucky break for those people foolish enough to invest in dot-com IPOs.

Nevada Turns to Brothels as a Budget Fix – The Holy Grail of taxation has always been to find one that is painless or that people enjoy paying. This idea might just be pretty close. There’s just an interesting balance to the concept of having the tax collectors screw you at the same time as… Since the Nevada Constitution forbids a State income tax, this is an interesting revenue raiser and should be a bit more pleasurable than paying IRS. They plan to call this a 10% live entertainment tax on brothel services. Since many of the customers are most likely from outside Nevada, it’s really no different than the various other tourist taxes already charged around the country, such as hotel and rental car taxes.

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Posted by taxguru on June 28, 2003

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Posted by taxguru on June 27, 2003

All of the DemonRat candidates seem to be in agreement on this issue.

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Posted by taxguru on June 27, 2003

Record cuts, higher taxes as states struggle to survive tough times – Incompetent management and planning are much more realistic reasons for the deficits than simply blaming everything on tough times.

IRS: Over 2000 Big Earners Paid No Tax in 2000 – Let the class warfare and hatred of the rich commence. This is intentionally inflammatory and no more relevant than saying “Over 2000 blue-eyed fishermen paid no income tax.” There are literally hundreds of very legitimate reasons why someone with a lot of gross income would have no Federal income tax. A business that has more expenses than income is the most common.

A Governor CBS Can Admire: Alabama’s Tax-Raising Bob Riley

How the West Is Taxed

People should stop whining about taxes – Many of us wish it were possible to do what this ignoramus jokes about; voluntarily opt out of incompetent government programs, such as Social Security and MediCare.

A ‘Financial Planning 101’ Minus the Jargon

Corporate Choice – I’m still as big a supporter of using C corporations as before the new tax law, especially with the quadrupled Section 179 expense deduction. An owner of a C corp can claim up to $200,000 per year, while an S corp owner is limited to only $100,000. Many people, including Forbes, aren’t looking at the big picture and are falling for the lure of the more taxing S corps and LLCs, which are basically identical to S corps.

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Posted by taxguru on June 26, 2003

Governor’s car tax hike faces court test – Not everyone is willingly accepting the unilateral tripling of the tax by Gray-Out Doofus

Democrats Urge Bush to Press Hard on Tax Credit – Unfortunately, in his zeal to co-opt as many of the DemonRats’ issues as possible, Bush is very likely to once again abandon conservative principles and go along with this increase in welfare payments to people who already pay no income taxes.

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Posted by taxguru on June 26, 2003

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Posted by taxguru on June 26, 2003

MAN BITES DOG! UNBIASED TAX STORY IN THE TIMES!

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Posted by taxguru on June 26, 2003

This would be an obvious tip-off that you may be asked to be more creative with accounting than is legally acceptable.

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Posted by taxguru on June 25, 2003

Bill Clinton Likes Paying Taxes – In case there is anyone with any doubts that the Clintons are dyed in the wool Marxists. They are literally chomping at the bit for their third term in the White House, when they can undo all of the Bush tax cuts and raise rates even further than before.

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Posted by taxguru on June 25, 2003

The only hope the DemonRats have of capturing the White House in 2004 is to continue their sabotage of the economy by keeping unemployment high, taxes, high, and the stock market as low as possible.

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