The recent release of candidate Mitt Romney’s tax returns stirred up a firestorm debate on how someone with his wealth pays so little taxes. It begins to rekindle debates over inequity which will only drum on louder throughout the remaining months of the U.S. Presidential campaign. The complexity of the U.S. tax system cannot be [...]
Archive for the ‘Taxes’ Category
Get a Tax Rate Like Mitt…You May Be Already There and Don’t Know It
Posted in Taxes, tagged dividends, income taxes, investing, Mitt Romney, tax liability, tax returns, Warren Buffet on February 2, 2012 | 1 Comment »
My Year-end Tax Planning
Posted in Taxes, tagged 2011 tax returns, charitable contributions, energy efficient credits, medical expense deduction, Roth IRA, state tax laws on November 22, 2011 | 2 Comments »
As I approach the next 45 days, it is time to address what I will be doing next year in my tax practice. In the next month and a half I have to install the tax software for the 2011 tax returns, review the new features of that software, and get all my files ready for [...]
Financial Planning & Adoption
Posted in Estate Planning, Taxes, tagged adoption, estate law, Estate Planning, family planning, Federal Adoption Tax Credit, National Adoption Month on November 16, 2011 | Leave a Comment »
Two weeks ago, I became the proud uncle of an 11-year old boy at a wonderful celebration where more than 80 foster children found homes in Tucson, Arizona. My sister, after much thought and a long and sometimes trying process, successfully welcomed her son to our family. In travelling back home from the weekend’s events, [...]
2011 Year End Tax Moves
Posted in Taxes, tagged Alternative Minimum Tax, annual gift tax exclusion, charitable contributions, credit card, energy saving improvements, FSA changes, group benefits, Health Savings Account, higher education deduction, income recognition, inherited IRA, open enrollment, Required Minimum Distribution, sales tax, securities holdings, tax benefit, tax law changes, tax loss harvesting on October 28, 2011 | 2 Comments »
As the malls and retailers prepare for the Holiday Season, we should be reminded that another year is coming to a close so it’s time for you to review your personal tax circumstances for opportunities to reduce taxes this year or to benefit yourselves, perhaps, by deferring, if possible, income recognition into next year. What are [...]
Tax Reform – What is Fair?
Posted in Taxes, tagged American Jobs Act of 2011, budget deficit reduction plan, debt growth, financial deleveraging, Statistics of Income Bulletin, tax rate, tax reform, tax revenues on September 23, 2011 | 1 Comment »
Unless you have been on another planet for the past several months, and or years, you know that we are facing difficult financial times. Our States, our Country and other Nations of the World, for that matter, are struggling to work through financial deleveraging from the excesses of debt growth of the past decade while, at [...]
Coming Out of the Spending Closet
Posted in Taxes, tagged 2010 tax return, Capitol Hill, federal income, payroll taxes, Your 2010 Federal Taxpayer Receipt on April 28, 2011 | 3 Comments »
New Online Tool Reveals How Government Spends Your Tax $ If you’ve ever wondered, “Where, oh where do my tax dollars go?” then get ready to satisfy your curiosity. Thanks to a new online calculator, we can look behind the curtain on Capitol Hill and see exactly how our own individual Federal income and payroll [...]
Another Tax Year Filed Away
Posted in Taxes, tagged 2010 tax return, 2011 tax year, Making Work Pay credit, mortgage debt cancellation, real estate, Retirement, Roth IRA, tax extension, tax filing deadline, tax law, unemployment on April 26, 2011 | Leave a Comment »
Well three more days were available this year to get it all done and now we can all breathe a sigh of relief for another year. The returns have been filed, the paper is all tucked away, and now we can enjoy the sounds of spring (tweet, play ball!, bait that hook) and the warmth [...]
The Great Tax and Deficit Debates
Posted in Taxes, tagged Atlas Shrugged, budget agreement, federal income taxes, luxury tax, tax bracket, Taxes on April 25, 2011 | 1 Comment »
It’s an uncanny time for a film adaption of Ayn Rand’s ‘Atlas Shrugged’ to be hitting theatres. The first film of a trilogy depicts a world of high regulation on leaders of industry who ultimately decide to take their talents from the world and use them instead in a hidden community, free from government interference. [...]
I Have a Few Years of Tax Returns to File
Posted in Taxes, tagged credit reporting agencies, garnish, IRS, levy, lien, payment arrangement, repayment period, tax code, tax return, tax system, withholding allowances on April 12, 2011 | Leave a Comment »
Part 3 of 3 In my previous blogs, I introduced you to Willie who came to me with his box of tax information for many years asking me to assist him in getting the returns prepared and to figure out a game plan for his dilemma of not having filed tax returns for many years. At [...]
I Have a Few Years of Tax Returns to File
Posted in Education, Taxes, tagged debt, expenses, income, Installment Agreement Request, IRS, Power of Attorney on March 22, 2011 | 1 Comment »
Part 2 of 3 In my previous blog, I introduced you to Willie who came to me with his box of tax information for many years asking me to assist him in getting the returns prepared and to figure out a game plan for his dilemma of not having filed tax returns for many years. [...]
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