Tax Guru – Ker$tetter Letter

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Archive for December, 2012

Taxing refugees from high-tax states?

Posted by taxguru on December 20, 2012

Will people be held prisoner inside high-tax states if they can’t or won’t pay the Exit Fees?  Desperate money hungry State rulers may just stoop this low.


When Will Death Spiral States Impose Taxes On Fleeing Citizens?

New tax increases in California stir debate about adding to exodus


From Rush Limbaugh, who was a tax refugee from New York to Florida 15 years ago, but still has to undergo audits from the New York Tax goons every year to prove that he didn’t work inside the State borders.

Death-Spiral States Eye Exit Taxes

From Blog Pix



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Posted by taxguru on December 20, 2012

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Posted by taxguru on December 20, 2012

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Posted by taxguru on December 20, 2012

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Late Nite Tax Jokes

Posted by taxguru on December 20, 2012

Via NewsMax


Federal Reserve Chairman Ben Bernanke said a failure to reach a deal for the fiscal cliff will hurt the recovery. The good news is most Americans will not be affected by this because they had no idea there WAS a recovery.

According to the latest census poll, a large number of Californians are moving out of state and going to places like Texas and Nevada. Look, I know a lot of us are disgusted with the Lakers, but that’s no reason . . .

Both parties in Washington now agree that our country is headed toward a “fiscal cliff.” The bad news: We just elected a guy whose campaign slogan was “Forward.”

Some more good news — the president announced today he is not going to raise taxes on the entire 1 percent, just Donald Trump.



Christmas is just around the corner. It’s just under two weeks away, and today Santa released 10 years of tax returns.

On the bright side, the end of the world kind of takes the edge off the fiscal cliff, doesn’t it?


Craig Ferguson

The latest report from the U.S. Census Bureau is out. For the first time, more people are moving away from California than are moving to California. People are leaving California in droves. To the people leaving California, I give you the traditional California farewell: “Adios, amigos.”





Posted in humor | Comments Off on Late Nite Tax Jokes

Posted by taxguru on December 18, 2012

Arizona Preparing For Wealthy Californians – The exodus of tax refugees continues.

Evil Rich being driven out of France:

France warms to Gérard Depardieu, the heroic exile

Making the rich flee


Fiscal Cliff Notes – Thomas Sowell debunks a lot of the fiscal cliff lies.


Our money factory – Sounding like a parody; but the truth about the “funny money” scams in this country.


The Obama Tax Plan: Undercutting Economic Growth


Our retarded rulers in DC have nothing better to do than argue over the definition of the Evil Rich who need to be persecuted –  $250,000 of income or one million dollars?

Boehner moves to ‘Plan B

Pelosi Backed Boehner’s Tax Cut Proposal

Speaker Boehner: House Will Protect As Many Taxpayers As Possible from Fiscal Cliff Tax Hikes

Obama, Boehner Press On After Alternative Plan Is Rejected


Here is an interesting graphical representation of the Fiscal Cliff that is actually too large to post here.


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From Tax Update Webinar

Posted by taxguru on December 17, 2012

This year, I intentionally scheduled almost all of my annual 40 hours of CPE for as late in the year as possible, with the hope that some settlement of the open tax issues would be wrapped up by now.  Unfortunately, as we know all too well, nothing has been done by our incompetent rulers in DC and we still have a ton of uncertainty as to what the rules will be for 2012, 2013 and onward. 

Once again, I am using CPE Link for most of my live instruction CPE.  I just finished the first four hour section of the 2012 Tax Update by Vern Hoven and he had to hedge a lot, with warnings that several tax provisions that have technically expired as of 12/31/11 may be extended retroactively for 2012 by the bozos in DC, hopefully before the end of the upcoming Tax Season.

As we went through the manual and slides, I found a few of them that I wanted to share here with my readers.


IRS Audit Exposure

This first one is from the IRS’s official report of their examination coverage.  It illustrates that the higher your AGI is, not only will you be hit with higher taxes and lose several deductions and credits, but the bulls-eye on your back for IRS harassment will grow much larger.  Steps to keep your AGI down, such as working with a C corp, make all the more sense.

From Tax Info


New ObamaCare Taxes

We covered some of the numerous new taxes created by ObamaCare that we will soon be dealing with.  One of them is a new Hospital Insurance (HI) tax on the wages and self employment income of the evil rich and is summarized nicely in this table.

From Tax Info



Posted in NewTaxLaws, ObamaCare, TaxHikes | Comments Off on From Tax Update Webinar

Posted by taxguru on December 17, 2012

Millions face higher taxes real soon without fix – And most likely much more if our rulers do “fix” things.


Fiscal cliff talks: Speaker John Boehner pitches millionaire tax hike –  Following Bush 41’s lead in trading higher tax rates for promises of future spending cuts.  Why is it so difficult for the GOP leaders to understand that DemonRats can never be trusted to keep their promises? 


Cavuto Cuts Off Dem Rep Who Refuses To Cite Any Cuts To Budget – The Dims have no intention of ever cutting one dime from their out of control spending spree. 


Matt Damon: ‘I Need To Pay More Taxes’ –  Another Hollywood Hypocrite who is too stupid to just send the IRS more of his money. 



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Posted by taxguru on December 16, 2012

Some more tax jokes from last week’s episodes of NewsBusted.


Full episodes that these came from:




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Posted by taxguru on December 13, 2012

The IRS grave-robbing vultures are circling.

The Death Tax: A Family Business Story

526,421 family farms threatened by new death tax


Buffett Joins Soros in Effort to Raise Taxes on Estates –  He inoculates himself from criticism as one of the evil rich by espousing Marxist ideas.


Berkshire buyback seen clashing with estate tax push –  If it weren’t for hypocrisy, the left wouldn’t have any guiding principles at all. 


White House: Savings Come Later –  As in NEVER.  Tax hikes now, spending cuts never.  How many times will the GOP fall for this perpetual DemonRat lie?


Google’s tax avoidance is called ‘capitalism’, says chairman Eric Schmidt –  If the USA would lower the corporate tax rate, those billions would be brought into this country and the IRS would get a percentage of it for 0Bamao to spend.  As it is, they get zero percent because responsible business managers take steps to minimize the tax bite.  This is exactly what is happening in the PRC and other high tax states.  


GOP loses way on fiscal cliff –  Spineless fools.


How Much Taxation Would Fund Current Spending? –  Excellent explanation that government spending has far exceeded any possible tax rates, even if 100% of the income of the evil rich were confiscated each year.


The Real Fat Cats. Do Warren Buffett and Jay-Z pay their “fair share”? –  A good look at the hypocrisy of the rich backers of 0BaMao.


Economics 101: Small Business Cuts Back on Spending After Obama Election Victory –  From Rush


U.S. Small-Business Owners Pull Back Capital Spending Plans


Obama Seeks to Permanently Eliminate Republican Opposition in Fiscal Cliff Deal


Tax Increases Won’t Solve Washington’s Spending Problem


Obama’s Big Tax Lie to the American People


BHO admits higher capital gains tax rates result in lower revenues; but he wants them to be “fair,” which means screwing the evil rich.

ABC Cap Gains Tax Hit Ignores Charles Gibson’s ‘Finest Hour’ Questions at April 2008 Dem Debate

Obama and Gibson Capital Gains Tax Exchange


France’s Jean-Marc Ayrault slams flight of the ‘greedy rich –  Sound familiar (Biden)?  How unpatriotic can some people be, to not just bend over and allow all of their hard earned income to be confiscated by greedy politicians?


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