Democrats’ Challenge on Tax Complexity

Amway & Taxes – Excellent post by Roth & Co on how important it is to have a true profit motive in order to deduct business losses. Since almost nobody ever makes any real money from Amway, that business already starts off as suspect in the eyes of the IRS.

IRS Says Americans’ Income Shrank for 2 Consecutive Years – Using amounts reported on tax returns actually understates the drop in income caused by the stock market collapse a few years ago.  I’ve seen tax returns where the taxpayers lost well over a million dollars; but were only allowed to deduct $3,000 per year.

 

 

 

Cigarette Taxes Are Dangerous For Your Health  

  

John Kerry’s Tax Plan: Too Much Tinkering – While it’s not worth wasting any time seriously worrying about John Kerry’s tax plans becoming reality any time soon since he will lose in November in a landslide, there are some other good alternative tax reform ideas at the end of this article. 

  



The Tax Code’s Impact on the Reliability of Revenue Projections 

Socialism is evil  – Good “tell it like it is” from Walter Williams.  It’s always bugged me how pervasive the belief is in this country among the elites (and the DemonRats) that capitalism is the world’s evil and socialism is the salvation from all problems. 

Wave of Regulations Will Follow Tsunami of Federal Spending     

Trusts May Gain Tax Benefits By Shifting States  – A tax saving strategy that has always been near & dear to me, arranging things so that income is sourced from a tax free state.  While this article deals with trusts, similar steps can often be taken with corporations.  

Human Piggy Bank Held – An even more disgusting money laundering technique.