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Archive for September, 2013

Wishful thinking…

Posted by taxguru on September 30, 2013

IRS scandal means bad news for Obama  –  While this would be great and would definitely be the case if the White House occupants were Republican, the current pResident is not being credited for any of the dozens of scandals and illegal activities by his regime.  The media are continuing to do their job of covering up and lying about these scandals so that few people actually connect BHO to any of them.


Posted in IRS | Comments Off on Wishful thinking…

Lois Lerner Update

Posted by taxguru on September 28, 2013

Uncle Sam Sucker Punched By Lois Lerner


 photo LoisLernerTortureRack_zps2f22f38b.jpg

Is Lois Lerner cutting a deal?

Lois Lerner’s lawyers negotiating with Oversight Committee on immunity –  The parallels with organized crime bosses continue.

Lois Lerner, key player in Tea Party targeting scandal, retiring –  She’s obviously hoping to get herself out of the focus of GOP investigators and thus reduce her chances for a prison sentence.  It will probably work, based on the GOP’s paralyzing fear of attacking the BHO Regime and being labeled as racists by the MSM.

Lois Lerner, embattled official at the heart of IRS tea party scandal, retires with full pension likely worth more than $50,000 as an internal review called for her firing –  As is standard practice with our “government servant,” they are well rewarded for their misdeeds.

Posted in IRS | Comments Off on Lois Lerner Update

Handling Cash

Posted by taxguru on September 28, 2013

I have long been a big fan of Cali Lewis and her GeekBeat videos.  While they usually deal with computer and other tech topics, her partner, John P. just posted this interesting video, where he calculates how much actual cash can be carried in a standard briefcase.  While most big dollar deals don’t use actual cash, this info could come in handy someday.





Posted in Money, video | Comments Off on Handling Cash

Stating the Extremely Obvious…

Posted by taxguru on September 26, 2013

Obama on Obamacare: “We did raise taxes on some things.” – Some = just about everything.


Census: State and Local Income, Sales, Motor Fuel, Motor Vehicle, and Alcoholic Beverage Taxes Hit All-Time Highs in 2nd Quarter – Governments can’t control their spending addiction and they will use whatever means possible to steal that money from the private sector.


Obamacare Will Increase Avg. Individual-Market Insurance Premiums By 99% For Men, 62% For Women – And the morons who support ObamaCare still insist on calling it the Affordable Care Act


The Obamacare Scams Are Already StartingNot the least surprising since the entire ObamaCare legislation has been a humongous scam from the beginning.


Now They Tell Us: ObamaCare Has Huge Hidden Costs


Posted in TaxHikes | Comments Off on Stating the Extremely Obvious…

129 Year Stretch

Posted by taxguru on September 25, 2013

IRS is trying to use a 129 year old law to justify their overly-zealous regulation of tax return preparers.  If the first 1040 tax returns were for 1913, how does an 1884 law apply to that?

 IRS rides 1884 ‘dead horse’ law to defense of tax preparer rules


Posted in preparers | Comments Off on 129 Year Stretch

Gambling Taxes

Posted by taxguru on September 20, 2013

Uncle Sam Wants His Cut on Your Gambling Winnings –  Good summary from FoxBusiness of the rules for reporting gambling winnings and losses. 

A common misconception is that the losses have to be in the same kind of gambling as the reported winnings.  Not true.  I can still remember a client I had back in Calif.who had won several million in the lottery shortly after it started in that state.  He opted for the annual payouts, and each year we deducted all kinds of gambling losses against that annual lottery payment; horses, casinos, football pools, in addition to new lottery tickets.



Posted in gambling | Comments Off on Gambling Taxes

Unraveling the “Phony” IRS Crimes

Posted by taxguru on September 19, 2013

More details of this very well organized conspiracy are slowly emerging. Using IRS to spy on political enemies of our phony pResident.

IRS tracked political groups after approving exemptions –  USA Today

IRS spied on tea party after granting tax-exempt status – Washington Times


New revelations reveal the truth about the organization’s targeting conservative groups. – More from USA Today


Holder, IRS officials spoke at political training session for black ministers that detailed ‘right-wing conspiracy’  –  The conspiracy was run from the very top of the BHO Regime.


Growing IRS Scandal Requires A Special Prosecutor – From IBD.


IRS Has Produced Only 10% of Docs Responsive to Demand by Congress – Try that with an IRS audit.  Give the agent only 10% of what s/he asks for and see what happens to you.  Guaranteed it will be a lot more punishing than anything the Congressional committee will be doing to the IRS reps in this case.


House Oversight memo: Washington Post’s tea party coverage inspired IRS to target conservatives –  From Daily Caller


IRS corruption update — three key revelations from Lois Lerner’s emails – From FoxNews


IRS Documents Reveal Agency Flagged Groups for ‘Anti-Obama Rhetoric,’ Big Three Refuse to Report –  NewsBusters points out that the MSM are continuing to do their job of covering up the multitude of crimes being committed by the BHO Regime.



Posted in IRS, NewsBusted, video | Comments Off on Unraveling the “Phony” IRS Crimes

2014 Federal Tax Brackets

Posted by taxguru on September 18, 2013

As they do every year, CCH has calculated the inflation adjusted changes to the Federal tax brackets and other figures. 

CCH Projects Inflation Adjusted Tax Brackets and Other Amounts for 2014


Besides income taxes, they have this regarding Estate & Gift taxes:

The gift tax annual exemption will remain the same for 2014, at $14,000. However, the estate and gift tax applicable exclusion will increase from $5,250,000 in 2013 to $5,340,000 in 2014.


Posted in TaxRates | Comments Off on 2014 Federal Tax Brackets

Posted by taxguru on September 18, 2013

IRS list reveals concerns over Tea Party ‘propaganda’ –  Amazingly, this is from USA Today, bucking the MSM’s blackout on news about the “phony” IRS scandal. 


IRS officials thought Obama wanted crackdown on tea party groups, worried about negative press –  The objective of stifling all opposition to the Messiah BHO has always been a consistent driving force for all government employees in all agencies.



Posted in IRS | Comments Off on

DemonRats Love The Poor

Posted by taxguru on September 18, 2013

From this week’s episode of NewsBusted, the reign of DemonRat economic terrorism continues.


According to this news story, they are succeeding quite well at creating more poor folks.

Census on Obama’s 1st Term: Real Median Income Down $2,627; People in Poverty Up 6,667,000; Record 46,496,000 Now Poor



Posted in NewsBusted, video | Comments Off on DemonRats Love The Poor