Their worst fears have become real.
Archive for July 18th, 2006
Why the Dims fought the tax cuts
Posted by taxguru on July 18, 2006
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Words we’ll never hear from a DemonRat
Posted by taxguru on July 18, 2006
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Dealing With Estate Matters
Posted by taxguru on July 18, 2006
Anyone who has had to deal with the passing of a loved one knows that the hassles are almost limitless. While it’s not possible to be completely stress-free; there are some things that can be done to reduce it somewhat.
I’ve written several times about Mark Colgan’s excellent Survivor Assistance Handbook.
In Mary Hunt’s Everyday Cheapskate column today, she had info on some other similar guides to dealing with this most difficult aspect of life.
“If Something Happens to Me” by Joseph Hearn and Niel Nielsen
“Ready or Not” by Julie Edstrom – available in various formats; book, CD and internet download.
“Creating the Good Will” by Elizabeth Arnold
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Outdated Sec. 179 Info
Posted by taxguru on July 18, 2006
I’m sure other practitioners have had this experience, where a client or someone they meet claims to have heard a certain “tax fact” from a friend of a friend and they tend to believe it more strongly than what those of us who keep up on these thing say. This comes up quite a lot with various rumors about the Section 179 expensing election, such as this recent email.
Q:
Subject: Section 179: Still going after 2006?I heard that the current level for Section 179 of $108K is dropping back down to $25K after 2006. I have seen on your website otherwise. Is your information up to date on the levels of Section 179 after 2006? Is there a chance that will go away or be reduced in future years?
A:
My figures for the Section 179 are as current as the recently signed tax legislation.
Whoever told you the maximum is dropping after 2006 is working with very old data.
No tax law is immune from meddling by our imperial rulers in DC; so there is no guarantee that the Sec. 179 deduction won’t be changed.
Kerry Kerstetter
Follow-Up:
Thanks so much for your prompt and frank reply. I guess since there is both old news and more up-to-date news, it is a bit confusing. Thanks for the clarity…
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Tax Guru - Ker$tetter Letter 