Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for December, 2003

Used Vehicles Qualify For Section 179

Posted by taxguru on December 8, 2003

One of the most common questions I am still receiving is whether the Section 179 expensing election is only available for the purchase of brand new assets or whether things such as used vehicles qualify. The answer is still the same. The asset just has to be new to you. You can claim the deduction for items purchased from anyone other than yourself or an entity controlled by you, such as a closely held corporation.

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Posted by taxguru on December 8, 2003

Treasury Renews Campaign for Tax-Free Savings Accounts – This kind of thing makes sense for various capitalist and fairness reasons. It’s also another perfect example of how fluid the tax environment is. Long range tax and financial planning has more unknown future variables to contend with than the weather has. However, it’s still very premature to count on these proposed breaks becoming real. They still have to survive the guaranteed onslaught of “tax breaks for the rich” propaganda from the lefties who want us all to believe that only evil rich people can afford to put anything into savings accounts.

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Posted by taxguru on December 7, 2003

One of the reasons I’ve never been a big fan of investing one’s life savings in the stock market. It can’t be good for a person’s health to have to wonder day by day whether you are broke or doing well.

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Posted by taxguru on December 7, 2003

2 Sides Differ on Size of Government

Republicans mock Gov. Warner’s sales tax plan

$20,000 per Household: The Highest Level of Federal Spending Since World War II

IRS auditors visit the NEA – finally

GOP Divided Over Pushing Reform of Social Security

The high cost of busybodies: part IV – More on the idiocy of our rulers meddling in the forces of the free market. Such efforts to thwart the natural market forces are no more successful here in the USA than they have been in more openly Communist societies around the world.

Congress ‘Piles on the Pork,’ Group Says

Fight the Tax Abusers – With plenty of very simple and very legal methods of minimizing taxes, you won’t find me defending the big CPA firms for selling scam tax shelter packages to their gullible clients.

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Posted by taxguru on December 5, 2003

SUV loophole/A gift from U.S. taxpayers – A little jealousy on the part of those who can’t deduct the cost of their vehicles. Those W-2 wage slaves should just shut the heck up, start their own businesses and then they can get the same tax breaks as the people brave enough to be self employed.

How Individual Social Security Accounts Can Work – An even better approach is to not pay anything into the SS system and have complete control over that money.

Why Tax Cut Critics Got It Wrong

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Posted by taxguru on December 5, 2003

Year-end tax strategies get a little more complicated

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Posted by taxguru on December 5, 2003

Now this is a more powerful slur:

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Posted by taxguru on December 4, 2003

Although it would be nice to let sailors off the hook, I doubt if “spending like drunken elephants” will catch on, even though our GOP rulers can’t say no to any new funding requests.

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Posted by taxguru on December 3, 2003

Tax Cuts for the Rich – Bill O’Reilly

Social Security Reform Back on the Table

Someone will have to pay for Bush’s reckless spending sprees

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Posted by taxguru on December 3, 2003

Congressional Holiday Gifts Found in Spending Bill

Another Omnibus Spending Bill Loaded with Pork

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