IRS probing possible data security breaches – If private credit card companies, with the best computer techs money can buy, can’t protect the privacy of their data, it shouldn’t be any surprise that IRS, with their disastrous track record with computers, as well as very low pay scale, can’t do any better.  Thanks to Matt Drudge for this link

It’s a sad and sickening day in the USA for those of us who believe in capitalism. To say that today’s ruling by the US Supreme Court that tax revenue is more important than private property rights is an absolute abomination would be a huge understatement. Impeachment of those five justices who voted to torch the Fifth Amendment would be in order if our Constitution were in any way respected nowadays. Unfortunately, as proven daily by the treasonous actions of the DemonRats in regard to the war on terror, and the unwillingness of the GOP to do anything about it, defense of the Constitution has been abandoned by our rulers in DC, in spite of the fact that they all took oaths to defend and uphold it. The wholesale adoption of the Communist Manifesto marches on in this country.

Scott Ott of Scrappleface has the right idea that Bush May Condemn and Seize Supreme Court.

IRS, Congress Aim To Curb Abuse of Popular But Unregulated Donor-Advised Charity Funds

One Investor’s Impossible Dream

Check Your Beneficiaries!

How Safe Is Your Pension?

Bias Questions Arise With Financial Planners

Q:

Subject: larger Corps??

I’ve read your article with interest especially the double taxation paragraph.
I’m nearing the company formation filing time and, with help from many sources, am looking mostly at the LLC. I started to draw away from the C early on because of the large taxes….I must state that the company with be in the 10’s of millions in a year….
   I (we) are certainly not interested in giving a dollar more to Sam than we are forced to but do wish to keep ownership and operations private and simple….where is the trade off?
   What happens in a C to the larger amounts of profits? And, I mean large…
All the best,

A:

There are far too many variables involved for me to be able to advise the best entity and jurisdiction to use for your particular situation via this medium.

To work out the best solution for your particular circumstances, you really need to work with a tax pro who can help you set up a strategy that will work for you.  If you are truly looking at millions of dollars of income, you would be nuts not to pay the bucks for a good professional tax advisor.

Good luck.

Kerry Kerstetter