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Does Sallie Mae Want Students To Default ?

by admin | Jun 6, 2012 | Tax

Originally published on Forbes.com on June 6th, 2012 After accepting a few guest posts from Alan Collinge, I heard from Sallie Mae. At the risk of being confused with a journalist, I had an interview with John Remondi, Chief Operating Officer. The Sallie Mae people...

Tax Protesters Rack Up Another “Victory”

by admin | Jun 5, 2012 | Tax

Originally published on Forbes.com on June 5th, 2012 It is hard being a tax protester. Coming up with crackpot theories and having them slapped down by the IRS and the courts. The case of Sam William Palmer in the Tenth Circuit is about as close as they ever come to...

After Twenty Years Congress Still Has Not Acted On Sales Tax

by admin | Jun 3, 2012 | Tax

Annette Nellen is a professor at San Jose State University. She has an excellent blog on tax policy called 21st Century Taxation. Professor Nellen was selected by the AICPA to tesitfy before Congress on the need for comprehensive tax reform. Collecting Sales Tax – 20...

CPAs Face Challenge In Early Stage Of Zombie Apocalypse

by admin | Jun 2, 2012 | Tax

In my posts on some of the tax proposals, I have expressed concern about lack of Zombie apocalypse awareness evident in some proposals. My biggest concern is the proposal to eliminate the LIFO method for inventory accounting. The LIFO method is one of the few...

Marriage Equality Victory On DOMA In First Circuit – Same Sex Couples Need To Watch Statute Of Limitations

by admin | Jun 1, 2012 | Tax

The First Circuit, upholding, a lower court decision, has ruled that Section 3 of the Defense of Marriage Act is unconstitutional. Section 3 of DOMA provides that only a marriage between a man and a woman will be recognized for purposes of federal law. The law...

Couple Denied Homebuyer’s Credit – You Are Not Your S Corporation And Your S Corporation Is Not You

by admin | May 31, 2012 | Tax

Jack and Joan Trugman owned several pieces of rental real estate in Texas, Missouri and California in their S corporation (Santsu Corporation). S corporations are generally not a really good vehicle for real estate. An S corporation shareholder does not have basis...