Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for July, 2003

Posted by taxguru on July 17, 2003

It’s a strange mental condition found in Demonrats and RINOs. To them, there is no such thing as a good tax cut and they can be blamed for anything and everything that they don’t like. On the other hand, they never see anything wrong with more government spending, unless it’s on an investigation of Clinton crimes.




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Posted by taxguru on July 17, 2003

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Posted by taxguru on July 17, 2003

If Bush doesn’t take the scalpel to spending, we who understand how tax cuts work (and don’t cause deficits) will not be able to defend him against criticism over the growing deficits.




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Turpentine Creek Property Tax Problem

Posted by taxguru on July 17, 2003




Here is an article in the local paper on the back taxes issue. They don’t dig into exactly what the motivation is for refusing to allow this legitimate charity to have the same exemption from property taxes as do other charities. It’s probably the classic case where some snake wants to steal the property away for his/her own profit. It is in a very desirable and scenic location.

Just the fact that they charge admission is no reason to claim that Turpentine Creek is a for-profit business. It’s hard to find a zoo, museum or park that doesn’t have an admission fee, including government owned ones, which are technically already subsidized by our tax dollars. Hopefully, Turpentine Creek will be able to locate an attorney to do some pro bono work and appeal this bone-headed decision to a higher authority, and allow them to have the taxes they pay refunded.

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Big Story In Little Harrison, Arkansas

Posted by taxguru on July 17, 2003




Sherry & I were walking into the Harrison Wal-Mart yesterday and saw this headline (Brown surrenders to police ) screaming out from the newspaper box. It didn’t show up the paper’s website until this morning.

I’m not a criminal attorney, but it seems odd that she was able to stay free by posting only $5,000 cash, considering the amount she has allegedly already confessed to taking ($400,000), plus whatever additional amounts are discovered after a complete audit.

Brown loses real estate title issuing license – Her name is mud in this town; so she will probably have to relocate to another state in order to find a new job.

The chain reaction ripple effects from this mess are spreading very wide. It’s not just the people who had money in Harrison Abstract’s account that are suffering the consequences. The sellers whose money is tied up were normally planning to use those funds to buy something else, delaying or canceling that deal. The sellers of those properties are then without the proceeds that they may have been planning to use for another purchase. It goes on for several levels.

This is going to be a field day for lawyers. Even after everyone is hopefully compensated for all of their direct monetary losses, there will be litigation over the other deals that fell apart because of the inability to access the funds in a timely manner.

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Posted by taxguru on July 16, 2003

This kind of thing is happening all too often, at both the Federal and State levels.

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Posted by taxguru on July 16, 2003

Less Tax, More Paperwork (link to article expired) – As always, our rulers in DC have guaranteed more work for us professional tax preparers by making everything even more complicated than ever. Some might suspect that they worry about a lot of unemployed tax practitioners and are just looking for ways to create more work for us.

How you can pay bills in blink of an eye – Just like in spy movies, we’ll soon be able to do all kinds of things just by having the irises in our eyes scanned.

The Politics of Pension Promises (link to article expired)- It’s not just the Teamsters and their Mafia pension plan scams that employees have to worry about. Many companies have been allowed to fund pension contributions with IOUs. Of course, this is similar to what Social Security is; but comes as a surprise to many employees, especially if the employer goes belly up.

House Panel Approves Permanent Ban on Internet Taxes – This refers to State taxes on the actual Internet services. It doesn’t put a damper on State sales taxes on retail purchases made over the web, which is still a very hot issue.

States Losing Billions Due to Corporate Tax Shelters

Rich politicians can’t understand the needs or ordinary Americans – A word from Mr. Obvious.

Budget deficit: What me worry?

Insider trading – As Walter Williams explains, it’s rare when a transaction doesn’t have one side knowing more than the other.

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Posted by taxguru on July 16, 2003

I Think, Therefore I Owe. New York’s mayor wants to tax everything that moves. Here are some things he forgot.

Deficit Yoga (link to article expired) – Just looking at the dollar amount isn’t a proper analysis.

A Tax On Fat (People)?

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Posted by taxguru on July 16, 2003

A Dog Running For City Council – It’s hard to imagine a Canine-American screwing things up any worse than the HomoSapien-Americans who traditionally hold elective office. Maybe it’s because of the environment in which they have been raised, but I have never sensed any attraction for tax increases in any of the dozens of dogs we have had here. I don’t think such a mind-set is possible for Canine-Americans; but we may find a different attitude in dogs raised by lefty DemonRats. This isn’t unprecedented. Sunol, California, near where we used to live, had a dog for a mayor, who did as fine a job as any human.

Farmer Offers Rental Cows on Internet – It will be interesting to see if this idea pans out. It’s hard to imagine anyone paying $276 for the cheese produced by one cow over a Summer.

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Posted by taxguru on July 16, 2003

As I’ve always said, stocks are great investments if you like the excitement of never knowing how you stand until you check that day’s stock prices. Other kinds of investments, such as real estate, are just too boring for investment thrill sekers.

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