Tax Guru – Ker$tetter Letter

Cheney pegs John Kerry taxes at $1.7 trillion – It’s quite timely to connect John Kerry to higher taxes this time of year, but I still worry that the very easy (like shooting fish in a barrel) attacks could cause his candidacy to implode before the DemonRats officially make him their candidate for November, in which case Queen Hillary steps in to save the country.

My platform – If I were to ever run for President, my agenda wouldn’t be much different than what Thomas Sowell proposes here.

Good news on the State tax front – Thanks to Andrew Roth:

Colorado, other states consider tax-and-spend limits

South Carolina Business Leaders Endorse Governor’s Tax Cut Plan

How State and Local Taxes and Services Affect Economic Development

One of the more frustrating aspects of the tax game are the IRS auditors who think it’s their job to micro-manage and second guess the businesses of their victims, without having a clue as to how the business should be run in the real world that we live in, as contrasted with the “Alice In Wonderland” realm many of them inhabit.

Cheney blasts John Kerry as tax fan – How dare Cheney refer to how John Kerry actually voted in the Senate. Doesn’t he know that DemonRats are never to be judged on what they actually do, but only on what they say they want to do? The media will remind him of that, I’m sure.

Deducting Sales Taxes – It is true that there is an inequity in regard to the fact that people who live in states with no income tax, but high sales taxes, have lower Federal Schedule A deductions since our rulers killed off the sales tax deduction in 1986. Finding the perfect balance between types of taxes and deductions is a never ending quest.

A taxing choice – Can anyone stop the use of taxpayer money for buying votes?

Virginia Political Shocker: Republicans for High Taxes – We have a classic case of the RINOs versus the true conservatives.

From MSN Money:

Readers love refunds — but they’re wrong – As I’ve always explained, anyone bragging about getting a huge tax refund is just telling everyone how ignorant they are at handling money.

How many exemptions can you take? – The goal should be a breakeven on your tax return. Use the worksheet on the back of Form W-4 to refigure this any time things change. Contrary to popular belief, there is no maximum number of times you can submit a new W-4 to your employer.

What if you can’t pay the IRS? – The worst thing you could do is to hold off sending in a tax return just because you don’t have the money to pay it off in full. Besides the fact that the late filing penalties are much higher than the late payment penalties, if you don’t file a tax return and show IRS what your actual tax bill is, they will use the information they have (1099s and W-2s) to calculate a much higher tax than even the most incompetent tax preparer would come up with. A tax return is a self defense tool where you have a chance to declare what your actual tax obligations are and prevent IRS from accusing you of owing hundreds of times more than that.

Thanks again to Andrew Roth for the following:

John Kerry’s Math – Reflecting his education at the Karl Marx School of Finance

Tax Fairness versus Tax Morality – Two oxymorons in one headline. There is nothing fair nor moral about taxes.

Bush “Attax” in Kerryland – For some reason, it’s wrong for the Bush team to tell the truth about his opponent; yet it’s perfectly acceptable for the DemonRats to fabricate complete lies about Bush and the GOP.