Schwarzenegger throws down gauntlet on taxes, spending cuts

For the DemonRats, it’s a “top this” game of who can screw the evil rich the most.

Reverse Tax Reform. Wesley Clark proposes a Clintonian hike–only much bigger.

Senator Kerry Attacks Dean, Gephardt On Tax Issue –

Democratic Rivals Split on Tax Plans

Companies consider pension freezes – When you work for someone else, you are at their mercy for current and future compensation.

What’s Wrong With Income Inequality? – Too many government programs, including much of the tax code, are based on the underlying premise that it is inherently evil for any person to have one dime more than anyone else. Utopia in the minds of leftists is everyone always having the exact same amount of wealth. Until we reach that point, they will never give up trying to use the force and power of government to work towards achieving it.

The Howard Dean Tax Calculator – Now everyone can see how much more they will be paying for the privilege of having that Vermont hot-head with a Napoleon Complex in the Oval Office.

Bush Administration Confident Surging Economy Will Help Cut Deficit in Half by 2005, Snow Says – The DemonRats’ worst nightmare, and their reason for opposing the tax cuts, is coming true.

This is a pretty good article with things to consider from Women’s Wall Street

I still believe in the issues I covered a few years ago. We constantly hear horror stories caused by people using tax pros just because they are local or because they are comfortable with the same person they’ve been using for several years. I can’t say how much such convenience is worth; but many people reconsider it when they discover they’ve been paying tens of thousands of dollars more in taxes each year than they would have if they had been working with a more knowledgeable and creative tax pro.

As strange as it may sound, there are times when an IRS audit is actually requested. The most frequent examples I have seen have been with estate tax returns (706), where the administrator and heirs want formal IRS acceptance of the figures so they don’t have to worry about any surprises later on.

How to Spot a Loaded Mutual Fund – Many mutual funds disguise their true costs.

It seems that Howard Dean’s own public comments are as good an ad against him as anything a third party could put out. Dean’s repeated calls for repeal of the Bush tax cuts are reason enough to oppose this idiot. His support of Usama bin Laden is just icing on the cake of proving his mental incompetence for any position higher than hamburger flipper at Micky D’s.

Tax-Cut Group Launching Anti-Dean TV Ads

Dean in Denial. Bush raised taxes?

The Clinton hand puppet from Arkansas is just another DemonRat endorsing Marxism. His plan to turn over our military protection to the USA hating United Nations puts him in treasonous territory already.

Clark tax plan soaks rich

Clark proposes shifts in tax code

Clark Offers ‘Simple’ Yet Sweeping Tax Reform

Clark Offers Plan to Overhaul Tax System

Clark Unveils $30 Billion Tax-Cut Plan

States out of the red but still seeing red

U.S. offers tips on avoiding overtime pay

The art of thievery – When the free market doesn’t support certain projects, it’s time for our rulers to steal money from the little people and redistribute it according to their whims.

Don’t Tax and Don’t Spend

2004 State By State Corporate Tax Survey – As unpatriotic as it seems to some people that corporations would take steps to reduce their taxes, it is a big part of the managers’ fiduciary responsibilities to the shareholders to do whatever is legally possible to maximize their net income. This often means moving different parts of a business to other jurisdictions that are less confiscatory.

Another January, another Congressional pay raise – Unlike most private businesses, where compensation is related to performance, our rulers are rewarded for incompetence. It doesn’t hurt that they control the government funds and don’t have to answer to anyone when awarding themselves annual raises. This doesn’t even count the millions of dollars in annual tax free fringe benefits they are given.

It’s only January 5th and I’ve already seen people panicking about getting their W-2s and 1099s prepared for last year. What’s the big hurry? As I have seen all too often, mistakes are made on these forms when they are rushed without ensuring the accuracy of the figures. The forms aren’t required to be given to the payees until February 2 (January 31 is a Saturday). A little known secret is that there is no actual penalty for payers missing this deadline. The real deadline, with minor potential penalties, is March 1 (Feb 29 is a Sunday), when the 1099 and W-2 forms need to be mailed in to IRS and SSA.

As I’ve said on many occasions, it’s always wiser to take your time and make sure your tax forms are as accurate as possible than to rush something in that may or may not be able to be corrected. With erroneous W-2 and 1099 forms, what happens is that IRS and SSA will end up with two sets (the original and the corrected one) and will expect the combined amounts to be reported on the payees’ 1040s.

One other reminder — payments to corporations are not required to be reported to IRS on 1099s or any forms.

For tax pros who are preparing 1099s and W-2s for clients who don’t have them set up on QuickBooks, I can’t speak highly enough about the stand alone program from CFS Tax Software. This will be something like the 20th year I have used it.

Despite Rebound, States’ Budgets Are Still Reeling

Governor’s Budget Bill Comes Due

Tax puzzle pressure points – As always, every attempt to simplify the tax system just ends up making it even more complicated, ensuring us tax professionals a lifetime of never ending work.

Cash-Strapped States Face New Challenges

Dream Homes Come With Rural Wake-Up Call – Living in the boonies does take some getting used to and is obviously not for everyone. However, after almost eleven years living here in the Ozarks with the closest neighbors about a mile away, we could never go back to the other kind of life like we had in the Bay Area. It’s very nice here, where population density is measured in numbers of acres per human resident instead of dozens or hundreds of people per acre.