Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for December, 2011

Posted by taxguru on December 28, 2011

 

 

A very prudent business policy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

From Blog Comix

 

 

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Estate Planning Organizer

Posted by taxguru on December 27, 2011

Here is a very handy free 56 page pdf estate planning organizer courtesy of Rob Lambert.  It’s similar in coverage to the currently out of print “What You Need To Know About Me” book that I wrote about several years ago.

 

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Who defines Justice?

Posted by taxguru on December 27, 2011

Thomas Sowell has another great selection of his Random Thoughts

These ones are very appropriate for here.

What do you call it when someone steals someone else’s money secretly? Theft. What do you call it when someone takes someone else’s money openly by force? Robbery. What do you call it when a politician takes someone else’s money in taxes and gives it to someone who is more likely to vote for him? Social Justice.

The wisest and most knowledgeable human being on the planet is utterly incompetent to make even 10 percent of the consequential decisions that have to be made in a modern nation. Yet all sorts of people want to decide how much money other people can make or keep, and to micro-manage how other people live their lives.

In the 1920s, Rep. Thomas S. Adams referred to “the ease with which the income tax may be legally avoided” but also said some congressmen “so fervently believe that the rich ought to pay 40 or 50 percent of their incomes” in taxes that they would rather make this a law, even if the government would get more revenue from a lower tax rate that people actually pay. Some also prefer class-warfare politics that brings in votes, if not revenue.

 

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Beware of Hidden Taxes…

Posted by taxguru on December 19, 2011

From the most recent Late Show newsletter:

From Blog Comix

 

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Ridiculous definition of “Patriot”

Posted by taxguru on December 13, 2011

Patriot leaves the U.S. Treasury his $2m estate to help pay down the national debt (only $14,999,998m to go…) 

While this guy may have been a complete idiot to think that his estate would do anything to reduce the deficit, the key point here is that it was his choice to make this gift to the Federal government. That is quite different from those who want to make it mandatory that the government grave robbers plunder the hard earned wealth from families, aka Marxists. 

It is also an idiotic definition of the term “Patriot” because those of us who believe in the power of capitalism and private property would think it more patriotic to keep as much wealth as possible in the private sector, where it can be put to much better economic use than it would be by giving it to the corrupt morons in DC to flush down their toilets. 

 

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2012 IRS Mileage Rates

Posted by taxguru on December 9, 2011

IRS Announces 2012 Standard Mileage Rates, Most Rates Are the Same as in July

Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 55.5 cents per mile for business miles driven
  • 23 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

The rate for business miles driven is unchanged from the mid-year adjustment that became effective on July 1, 2011. The medical and moving rate has been reduced by 0.5 cents per mile.

 

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Posted by taxguru on December 7, 2011

11 Retirement Benefit Changes Coming in 2012 – A good summary of changes for next year.

 

 

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IRS Interest Rates Unchanged

Posted by taxguru on December 6, 2011

Interest Rates Remain the Same for the First Quarter of 2012

 Interest rates will remain the same for the calendar quarter beginning Jan. 1, 2012. The rates will be: 

  • three (3) percent for overpayments [two (2) percent in the case of a corporation];
  • three (3) percent for underpayments;
  • five (5) percent for large corporate underpayments; and
  • one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000.

The 3 percent rate also applies to estimated tax underpayments for the first calendar quarter in 2012 and for the first 15 days in April 2012.

 

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How to drive even more productive citizens away…

Posted by taxguru on December 6, 2011

Gov. Jerry Brown implores California voters: Please raise taxes on yourself – In other words, “Hit the road or we will take all of your money.”

 

Posted in Calif | Comments Off on How to drive even more productive citizens away…

Posted by taxguru on December 5, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

From Blog Comix

 

 

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