WebSite Update

I’ve made a few more changes to my main website.

I added a Quick Reference page to include some of the rates and info that people ask about quite often.  If you have any ideas for other things to include, please let me know.  

Clarified that a QuickBooks class should not be set up on corporate books for “Personal.”  This is an issue that I have been coming across a lot lately, as people send me their QuickBooks data files to work with.  

Time to worry. Most people needlessly freak out just by receiving a letter from IRS in the mail. Most of those are no big deal. However, if you consistently ignore those letters, you may see something like this. If you don’t file a tax return or otherwise put up a defense for your true tax liability, IRS is allowed to fabricate its own numbers and do whatever it wants to take that money from you.

To be more accurate, the batboy should be a rhino.

To make this picture more realistic, Tom Dashole and the RINO Senators would be peeing on the matches as Bush tries to light up the economy.

For those who may not understand this comic, it goes back to last year’s revelations about creative accounting that was done by some large companies by reporting phony income. Most of the companies that did this only used the fake numbers on the financial statements that they presented to the SEC and investors, while they reported their true income to IRS in order to avoid paying taxes on fictitious income. This practice of keeping multiple sets of books is what prompted many of us to call for the release of corporate tax returns to investors so they can better see the discrepancies.

For some reason, some of the corporations using creative accounting tricks opted to pay income taxes on income that didn’t exist. Now that they have been busted for the phony numbers by the SEC and investor lawsuits, they are trying to recover the overpaid taxes. Because of the statute of limitations with IRS, those companies will find that they will only be able to recover the overpaid taxes from the past three years. Anything from before that is lost forever.

The fact that this kind of phony income was allowed to be reported on corporate books for so long is why the CPA profession is under such scrutiny right now and the largest firm, Arthur Andersen, is no longer in existence.

Bush seeks voter rally for tax cuts

Bush Presses Congress on Tax-Cut Plan

Pushing Tax Cut Plan, Bush Urges Arkansans To Call Lawmakers

Senate GOP Works on Dividend Tax Cut

How to get a tax cut

American families will suffer without permanent tax cuts.

Cost of not cutting taxes – Lower tax rates will stimulate economic activity; something the DemonRats do not want to happen until after they are back in control of the government.  

Bush Sees Progress on His Tax-Cut Plans

House Tax Cut Chafes Liberals More Than Bush Plan

Tax Cut Trickery: Part II – More panic from the left over the possibility of lower tax rates.

George Stephanopoulos: Raising Taxes Helps the Economy – Just one more example of how ABC News is nothing more than the propaganda arm for the DemonRats.

Bush Asks Arkansas to Press Senator for Vote on Tax Cuts – Unfortunately, our Senator, Blanche Lincoln, has a history of putting loyalty to the JackAss Party ahead of doing what’s best for the country; so there is almost zero chance of her voting for a tax cut.

House sold on capital gains tax cut – It messes things up by tossing new ideas into the mix.

Bucking Bush, Senator Takes a Thorny Path – The Left love to give plenty of publicity to the RINOs when they turn against Bush. 

Bush Tax Cut Drive: Heat Replaces Sweet – The DemonRats are putting up a fairly unified stand against supporting anything that could possibly help the economy; so efforts to sway them to vote for tax cuts are virtually useless. 

The Yard Sale of the Century Could Ease the Crunch – Selling off government owned assets makes a lot of sense, both at the State level, as well as for the Feds.

TAXING ‘TIL WE DROP  – The PRC doesn’t have a monopoly on the knee-jerk reaction to budget deficits by enacting huge tax increases.  New York is looking at record level increases that will motivate even more people to relocate to lower tax states.