Tax Guru – Ker$tetter Letter

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Archive for the ‘TaxRates’ Category

Posted by taxguru on September 26, 2012

Fact Check: Is Romney’s tax rate really lower than yours? – As was expected, the Dims have been lying about Romney’s tax returns.


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2013 Federal CPI Adjustments

Posted by taxguru on September 17, 2012

CCH has released their calculations for the 2013 inflation adjustments to Federal tax brackets, exemptions, standard deductions, and various other items that are required to be modified annually in order to prevent bracket creep.

As with anything to do with predicting 2013 tax rates at this time, assumptions are necessary in regard to whether or not the Bush tax rates will be extended beyond 2012.

“The CCH projections that follow for each taxpayer filing type are made with the assumption that Congress ultimately will extend all Bush-era tax rates and other benefits for at least one more year, through 2013.”


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25 Years Ago…

Posted by taxguru on October 25, 2011

I was taking a tax update webinar this morning and the instructor, Annette Nellen, had this picture of the signing ceremony from the monumental 1986 Tax reform Act, which made several major changes to the tax code.

From Blog Pix


Here are some interesting recent articles about that law:

By Annette Nellen:
25th Anniversary of the Tax Reform Act of 1986. Is the 25th anniversary a time to celebrate it or wonder what happened to it? 

By Martin Feldstein:
The Tax Reform Evidence From 1986 Experience implies that the combination of base broadening and rate reduction would raise revenue equal to about 4% of existing tax revenue.



I couldn’t resist the temptation to show what was really going through their minds at that signing ceremony.  Click on the image for a larger version.

From Blog Pix

TaxCoach Software: Finally! Plain-English Tax Planning That Builds Your Business!


Posted in TaxCuts, TaxRates, TaxReform | Comments Off on 25 Years Ago…

Official IRS 2010 Inflation Adjustments

Posted by taxguru on October 16, 2009

For those folks not satisfied with the CCH calculations of the 2010 inflation adjustments that I posted a month ago, IRS has officially released their figures.


21 page pdf file with all details


Posted in IRS, TaxRates | Comments Off on Official IRS 2010 Inflation Adjustments

2010 Federal CPI Adjustments

Posted by taxguru on September 17, 2009

For several years now, a popular topic has been the annual inflation adjustments for those aspects of the US Internal Revenue Code that require such modifications.  Once again, CCH has made their calculations available to the public in this announcement.  As soon as I can, I will set up a new page on my website to reflect these new figures.   

Another very popular topic is the annual gift tax exemption, which can only be adjusted in even $1,000 increments.  According to the CCH report, it will remain at $13,000 for 2010.

[Update:  The 2010 rate page is up, and the Section 179 page has been updated for 2010 maximums.] 

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2009 Tax Rates

Posted by taxguru on December 26, 2008


Subject: 2009 Tax Rates

Dear Mr. Kerstetter,

The 2009 Income Tax Rates for Married Filing Jointly on your web-site link are not consistent with the rates published in the IRS Publication 15 Circular E for 2009.

Is this due to publication date differences? Which is the correct 2009 tax rates?



You have me a little confused.  I downloaded the new Pub 15 that you linked to and I don’t see an income tax rate schedule that is comparable to the one I posted on my website.  There are withholding tables, which are calculated slightly differently than the actual tax calculation schedules.  If you were trying to equate the two, that’s not really possible.

The figures on my schedule do match exactly with the IRS’s official release of the inflation adjustments for 2009, Revenue Procedure 2008-66.

Here is a copy and paste from Page 6 of that pdf file:

I also double checked with the update from The TaxBook.
It is pasted below:

I hope this helps.

If you can let me know where in Pub 15 you are trying to match the rates to, I can better understand your confusion.

Kerry Kerstetter


Mr. Kerstetter,

Thank you for the explanation.  It clarified my confusion.

TaxCoach Software: Are you giving your clients what they really want?

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