Required to work for the 0bambi team…
Posted by taxguru on March 5, 2009
From last night’s Leno show via NewsMax:
Here we go again: President Obama’s latest nominee for U.S. trade representative, a man named Ron Kirk, owes $10,000 in unpaid back taxes. Apparently when it comes to taxes, “yes we can” is now “no we didn’t.”
One of his tax deductions was $17,000 for tickets to a Dallas Mavericks game. He deducted $17,000 for basketball tickets. But to be fair, since it was the Mavericks, he should be able to write that off as a failed investment.
Posted in comix, Crooks, Obambi | Comments Off on Required to work for the 0bambi team…
Visiting IRS HQ…
Posted by taxguru on March 4, 2009
Last night, we were watching a NetFlix DVD by the extremely funny and talented ventriloquist, Jeff Dunham, and he had the following short bit about our favorite government agency. As Jeff has said in interviews, he is lucky by being able to say a lot of politically incorrect things through his dummies that wouldn’t be tolerated from a human.
Posted in humor, IRS, video | Comments Off on Visiting IRS HQ…
His true alter-ego?
Posted by taxguru on March 4, 2009
(Click on image for full size)
Posted in comix, Commies, Obambi | Comments Off on His true alter-ego?
Posted by taxguru on March 3, 2009
(Click on image for full size)
(Click on image for full size)
Posted in comix | Comments Off on
Posted by taxguru on March 3, 2009
Another Obama pick owes back taxes, but it’s OK because, now caught, he’ll pay up – Obviously nothing new about one more tax and spend hypocrite joining the 0bambi team. What is surprising is that this snarky type look at that team is in the LA Times, which I had always understood to be the Left Coast equivalent of the NY Times, the official propaganda outlet for the DemonRat Party. Are some of the loyal little donkeys finally having their fill of 0bambi hiring tax cheats, while calling for higher taxes on everyone else?
Posted in Commies | Comments Off on
The Silver Lining
Posted by taxguru on March 3, 2009
Upper-Income Taxpayers Look for Ways to Sidestep Obama Tax-Hike Plan – As I have long been saying, electing a Marxist president would be the biggest boost to our business ever as more people see the need to stay out of his cross-hairs. It’s only a matter of time before that $250,000 threshold is reduced, bringing in more and more victims of Obama confiscation to see us about using income smoothing strategies, such as C corps.
Interestingly, I have noticed that the creative team at Tax Coach Software realized this money making opportunity as well and have been adding more and more Obama defense warnings and strategies to their arsenal over the past several months, with new ones showing up constantly.
Posted in Commies, preparers | Comments Off on The Silver Lining
Be sure to thank the evil rich for the free lunch…
Posted by taxguru on February 28, 2009
Posted in comix, Commies, TaxHikes | Comments Off on Be sure to thank the evil rich for the free lunch…
Deductions for the Evil Rich
Posted by taxguru on February 28, 2009
Q:
Subject: 2009 Standard Deduction
Hi:
Your Blog indicates that in 2009, the Standard Deduction will be eliminated for those filing jointly, and earning over $166,800.
What will it be replaced with ?
Will this be positive, or negative, for those whose AGI is $2000,000 + ?
Regards
A:
You are misunderstanding what that provision of the tax law means.
Standard deductions aren’t eliminated for anyone based on AGI.
What has been part of the tax code for several years now has been a dollar limitation on the total amount of itemized Schedule A deductions that people considered to be evil rich (as measured by AGI) are allowed to claim. At the threshold levels, which are increased each year based on inflation, the limit starts to be applied.
However, although this type of penalty on the evil rich can completely eliminate their personal exemptions, I have never seen where it has completely eliminated their Sch. A deductions.
The trend of punishing people with high AGIs is looking like it’s going to get worse. From what I have heard about our Supreme Ruler’s plans for future tax laws, there will be even tighter limits on the deductions allowed to be claimed by those folks he considers to be evil rich.
I hope this helps you understand this part of the tax code.
Good luck.
Kerry Kerstetter
Follow-Up:
Hi Kerry:
Many thanks for your explanation.
Posted in Deductions | Comments Off on Deductions for the Evil Rich
Tax Guru - Ker$tetter Letter 