Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for November, 2003

The Tax Squeeze

Posted by taxguru on November 30, 2003

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Posted by taxguru on November 30, 2003

Turkey-Time Tax Moves – Doing year-end tax planning is a hundred times more effective if you have all of your current year activity properly entered into QuickBooks. Otherwise, it’s just a matter of shooting in the dark.

Time to Commit to Your Company’s Retirement Plan

This measure will not strengthen Medicare – Written by one of the few GOP Senators with enough common sense to vote against this idiotic expansion of government control over health care.

Bush Now Directing Attention to Revamping Social Security – Any attempt to fix a system as fundamentally dishonest as SS is nothing more than our rulers’ standard practice of rearranging the deck chairs on the Titanic.

Congress decides bigger is better: Tax breaks target big SUVs – I’m still amazed at how many people, including plenty of tax pros, think that the six thousand pound weight threshold for generous vehicle tax breaks is something new. As I have been saying for the past nineteen and a half years, this rule exempting vehicles weighing more than 6,000 pounds from all of the luxury vehicle tax limits was enacted back in 1984. It is obviously worth a lot more starting in 2003 because the Section 179 deduction was increased from $24,000 to $100,000 per year.

Luckily, recent attempts by busy-bodies in the US Senate to limit the vehicle portion of that deduction to just $25,000 have failed to make it past committee. I’m sure all of those jokers who voted for that penalty against buyers of SUVs are completely oblivious to the fact that their taxpayer funded limousines weigh far more than any SUVs normal people would buy.

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Posted by taxguru on November 29, 2003

Spending escalates under GOP watch – While many commentators, such as Rush Limbaugh, are speaking out about this abandonment of small government principles by the GOP, they are too scared to explain how to stop it. Republican politicians are not going to change their ways unless they are punished for their big spending actions. This can be accomplished by refusing to donate to their campaigns, and more powerfully, not voting for their reelection. They obviously take their constituents for granted, believing that they have no choice but to vote for the GOP incumbent rather than a DemonRat. What they wouldn’t like is for their normal supporters to vote for candidates from a party that is very consistent in its support of limited constitutional government, the Libertarians.

Supply-Spend Economics

Yay for Naysayers – It’s a definite sign of a big shift to the left for the GOP when only nine of its US Senators could do the right thing and vote against this huge expansion in the size and cost of government. The DemonRats only voted against it because it was supported by Bush and the GOP. They would have all voted in favor of it in a heartbeat if a DemonRat president had been in charge.

TAX-CUT TRICKLE-UP – As is often said, a rising tide lifts all boats.

Taxpayers pick up tab for benefits

The Medicare bill was inevitable – Not for those of us who think the Federal government shouldn’t be in charge of medical care.

The embarrassing GOP

Digging into spending

Medicare fraud: Reforming our way to bankruptcy

Bad Medicine. How on Earth Did We Get Here?

Hopefully WEA next in line for IRS audit

Senators Lamar “Sundquist” Alexander And George Voinovich Kill Internet Tax Moratorium

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Posted by taxguru on November 28, 2003

Tax-raising governors could lift Bush in 2004 – Very strange “logic” at work in this article that confuses the heck out of me.

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2003 Organizers Are Available

Posted by taxguru on November 28, 2003

Consistent with the schedule for the previous several years, the organizers for 2003 individual income tax returns (Form 1040) are now ready to be sent out. Any clients who have already received their 2002 1040s should contact us when they are ready for their 2003 organizers. For those clients whose 2002 1040s have yet to be finished, the 2003 organizer will be automatically included in the folder with the 2002 tax returns.

A reminder that organizers are only available for individual income tax returns – Form 1040. Information for all other types of tax returns – corporations, partnerships, trusts, estates, LLCs, non-profits, and foundations – must be submitted in the form of QuickBooks data files.

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Posted by taxguru on November 27, 2003

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Posted by taxguru on November 27, 2003

The GOP has devolved into the PIG: the Party of Increasing Government

As Fed Expands Credit, Consumers Drown in Debt

Governor’s tough task: finding the waste to cut. Budget can be shrunk — but by $10 billion? – That should be no problem for anyone with an objective understanding of the true purpose of government in a capitalist society.

Dem Presidential Candidates Hammered for Missing Medicare Vote – One of the many things wrong with our current political system is the fact that campaigning for high office is itself a full time job lasting for months and years on end. This makes the only ones able to afford it those who are either independently wealthy or those who have jobs that don’t require them to actually do anything; which is why our choices are almost exclusively professional politicians who are paid and supplied with massive perks whether or not they do any of the things they were elected to do. Bush couldn’t have afforded his 2000 campaign if he hadn’t been governor of Texas at the time. Ditto for Clinton in 1992. Those of us in the private sector, who have to actually do things in order to be paid, can’t afford to spend a year or more out on the campaign trail.

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Posted by taxguru on November 26, 2003

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Posted by taxguru on November 26, 2003

The Quiet Earthquake in Spending – The reason I’ve spent so much time ranting about the reckless spending by our rulers in DC is the inevitable net result of higher taxes. Contrary to the leftist propaganda, tax rate cuts don’t cause deficits; but uncontrolled spending sure does.

Internet Tax Ban Bill Stalls in Senate

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Would these be CBAs?

Posted by taxguru on November 26, 2003

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