This has always been the case with computers, which is why you shouldn’t buy one that won’t be put to use immediately.

More Complication?

As should be very apparent, I have always supported the concept of eliminating double taxation of corporate income by making dividends paid either deductible by the corporation or tax free to the recipients. Bush’s tax cut proposal to make dividends tax free sounded easy enough at first. That’s why I was disappointed to see this story about possible changes to the plan. Rather than take the simple straight forward approach of just making all dividends across the board tax free to shareholders, they seem intent on adding even more complexity to the tax system for both the corporations and the stockholders by making some kinds of dividends tax free and some still taxable. What a mess this will be for everyone.

Of course, as I have observed for decades, this is just business as usual for our rulers in DC. Never make a one sentence law when a 50 page version will allow more tinkering with people’s lives. You would think that our rulers in DC are doing nothing but thinking up new ways to keep accountants busy with their never ending complicated tax law changes.

KMK

Battling for dividend tax relief

I’m not sure of the artist’s intent with this comic; but I think it is to ridicule Bush. The truth is that anyone who understands capitalism and the US Constitution knows that many of the taxes in this country are downright evil.

Non-Cash Donations

I just finished installing the 2003 Tax Tools program and was checking out the new features added this year. One I really like is a five page worksheet, along with estimated values, for documenting non-cash donations, such as clothes and furniture. It obviously has a lot more room than the one page version I posted on my site a little while ago. I’ve made a master in pdf and uploaded it to my site.

KMK

Look at who won’t pay taxes under Bush’s plan

The Dems’ skimpy tax-relief plan

Bush Proposal May Cut Tax on SUVs for Business

I’m sure Arianna Huffington and her fellow traveler SUV haters are having a cow over this.