Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for September, 2004

Posted by taxguru on September 25, 2004

Would Senator Kerry’s Budget Really Reduce the Deficit?

Congress Extends Middle-Class Tax Breaks

Congress Increases Pay While Promoting Government Inefficiency

Do Your Homework to Get the Dividend Tax Break

Oprah’s car giveaway turns into a tax nightmare

Whoever Wins, More Taxes May Be the Only Way Out

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Posted by taxguru on September 24, 2004

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Posted by taxguru on September 24, 2004

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2005 Federal Income Tax Schedules

Posted by taxguru on September 24, 2004

I am constantly being asked when the 2005 tax rate schedules, indexed for inflation, will be available and posted on my main website. Every year, some private sector tax experts (even geekier than I am) release their predictions of what those inflation adjustments will be; often months before IRS announces its official figures, which are usually almost exactly the same.

CCH has released its Tax Projections for 2005

Update: I have posted a page with these 2005 figures on my main website. The figures I used are those calculated under the assumption that the current pending legislation to extend the tax rate schedules passes, which is extremely likely to happen.

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Posted by taxguru on September 24, 2004

John Kerry’s Social Security plan is to ignore it and hope a fairy godmother comes down, waves her magic wand, and makes it all work out.

Hill panel OKs tax-cut extension

Conferees Pass $146 Billion Tax Cut Extension Bill

Many Fortune 500 Firms Paid No Tax During Bush Administration, CTJ Finds – And of course, that’s inherently bad because we’re all supposed to understand that corporations are evil.

Congress gives president pre-election win with tax cuts

DemonRats Blast GOP National Sales Tax Proposal – Sales taxes don’t allow as much social engineering and control as income taxes do.

New $50 Note Available Beginning September 28 – Ulysses Grant has had his gay makeover.

Congress Sends $146 Billion Tax Cut Package to President Bush

Lawmakers OK Extension of Tax Cuts

John Kerry: Fiscally Disciplined? Not even close

Social Insecurity

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Posted by taxguru on September 23, 2004

Sherry has posted another warning for our Realtor clients on how important it is to be aware of when a client should consider disposing of a property as a tax deferred 1031 exchange. It is not an exaggeration to say that sellers who are not informed of 1031s will be upset next tax time and could actually sue the Realtor, and even their tax advisor, for not recommending it.

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Posted by taxguru on September 23, 2004

Schedule C-EZ Change Means Time Savings for Small Businesses – While more small businesses will now qualify for this EZ form, I will continue to suppress the form from my software. Just as with my opposition to e-filing, it is my firm belief that being able to itemize detailed descriptions of expenses on a tax return, rather than having to lump them together, is a way to minimize the potential for a return to be selected by IRS for an audit.

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Posted by taxguru on September 23, 2004

Federal Bake Sale to Pay for Tax Cut Extension

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Posted by taxguru on September 22, 2004

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Posted by taxguru on September 22, 2004

The media are making such a big deal about these poor people who have to pay taxes on the free car they received from GM. All they have to do is sell the car and they will have plenty of cash to use for the taxes if there are any. Lottery and other gambling losses can be used to offset this income. If they still need a new car, they can buy a more affordable used one.

Oprah’s car giveaway not totally ‘free’

Recipients In Oprah’s Car Giveaway Face Hefty Taxes

Pressing issue of Social Security

The Specter of Poverty in America – Many big government programs are built on the foundation of dire poverty in the populace, with the ridiculous impression given that low income people in the USA are equivalent to starving dirt farmers in Africa.

How to Minimize Taxes And Control Your Estate Without Trusts

Court Orders Halt To Texas Man’s Tax Promotions – And those people foolish enough to fall for this scammer’s “corporation sole” and “claim of right” schemes will be hearing from IRS as well.

GOP crafting tax-cut package

Chirac Touts Plans For Worldwide Anti-Poverty Tax – I’m sure John Kerry’s all in favor of France setting American tax policy, just as he want to turn over all of our military decisions to those cheese eating surrender monkeys and the United Nations

Productive inequality – Basic supply & demand concepts explain why a few people earn millions times more than most people.

The Candidates’ Tax Plans: Comparing the Economic and Fiscal Effects of the Bush and sKerry Tax Proposals

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