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Dealing With Debt Stress
Have you ever thought about how to manage your unexpected expenses and sudden emergencies when they appear before you? Well, your answer is hidden in the ‘Emergency Fund’.
The ‘Emergency Fund’ can act as your first line of defense and can cover all your sudden financial emergencies. First, try to save $500 to $1000 in your emergency fund. Later, try to save 3 months to 6 months’ salary in your emergency fund. With an emergency fund in hand, you don’t have to take too much stress about your money and debt repayment.
An Accountant Looks At The Non Sequitur Lawsuit – The $65,000 Question
There is nothing that odd or unusual in the conflict that Steve McRae and Kyle Davis are having over the Non Sequitur Show. What is a little unusual is that they are actively litigating given the relatively small stakes, but given how stubborn people can be it is not that unusual. What is very unusual is that they seem to have gotten thousands of people interested in their dispute and that they are playing it out in such a public manner. If you go with the theory that there is no such thing as bad publicity and they are in an industry that thrives on views, that peculiarity might be a feature rather than a bug.
If this sort of dispute were going on in an accounting firm or a law firm or a medical practice, it would be kept out of view if at all possible. And as it happens, this sort of dispute goes on all the time in those and all sorts of other businesses. One of the things that will prevent it from killing the entity is that the players have too much to lose if the entity collapses.
IRS Veteran Insists That IRS Is Missing Billions In Real Estate Gains
Working with a computer expert, Jerry designed an algorithm. The algorithm would look for partnerships with large deficit capital accounts. He was in the big time in Washington so it was a big cutoff. He put out $50 million as the threshold.
And then he traced them into the next year. What he found was that some of them disappeared. There was no final return recognizing gain to bring the deficit up to zero, which is what most practical accountants think is supposed to happen.
Non Sequitur Lawsuit Divides Hovindologists
Given how many Hovindologists are involved in this some of the Parallels with Hovind are interesting. Steve’s notion that taxable income can kind of be suspended is a little reminiscent of Kent’s non-statutory trusts. That one is pretty tenuous. More to the point is the way in which control over the channel compares to Theo’s stealing Kent’s URL and Kent’s fight with Eric over the Creation Science website. I think I recall Kent having trouble with another renegade webmaster earlier.
And then there is the matter of service, now the key legal issue in the McRae v Curtis suit. That is what also threatens to kill Hovind’s half-billion-dollar lawsuit. I noted in my first post on that that they might have a problem doing that properly and it seems that is playing out.
President’s Executive Order On Payroll Taxes – Some Detail
I am so glad I don’t work for a payroll company. What does “generally is less than” mean? If you are figuring out people’s withholding, you need be exact. For people who have set salaries, you should be able to figure it out, but it is kind of difficult for people whose pay is irregular, which is more common nowadays than it used to be.
The other thing that is odd about the provision is the cliff effect. If you are in the “generally less than $4,000” category it seems like all your social security is deferred, but if you are not then none is
Conservation Easements -Is IRS Burning The Forest To Save It?
I am not a big fan of using tax incentives to support worthy goals, but it seems that there is no stopping it. As it presently works conservation easement deductions represent a potential for abuse that will continue to exist even after DOJ and class actions attorney finish their march through Georgia which may wreck the professional lives of many accountants, lawyers, appraisers and others attached to the industry.
A better model might be what is done in low-income housing. There is a credit that is limited by state population and doled out annually. That creates an incentive to use the federal tax benefits more wisely.
Senate Bill Addresses Remote Worker State Tax And Gig Worker Issues
It strikes me that a state hard hit by the “state tax certainty” rule may be New York, since employers will have the option of treating workers not able to come into Manhattan from New Jersey as working in New Jersey. New York tends to be very aggressive in bringing people into its jurisdiction and has a high rate.
Massachusetts had issued a ruling to the effect that during the crisis people would be treated as continuing to work wherever they had been working. Under this legislation, employers could treat people working from home in New Hampshire as being in New Hampshire. New Hampshire does not tax wages.
I am sure there are other pairings of high and low tax states that I am not thinking of. And the high tax states tend to be blue, so maybe there is some politics to this measure, which overall is pretty reasonable.
How QAnon Candidate Marjorie Greene Used Conservation Tax Scandal To Help Win Congressional Nomination
GA-14’s GOP primary has turned into two millionaires throwing corruption charges at each other instead of fighting for their constituents. This ugly infighting among ethically challenged, extreme candidates is exactly what’s wrong with today’s Republican Party
When In Rome – Conservation Easement Scandal Enters Congressional Race
I do believe that there are well-to-do Romans within the power structure of the community and people are reluctant to go on the record in opposition for fear of retaliation
Paycheck Protection Moving In The Senate
There is nothing in either of the two pieces of HEALS that have been released on deducting expenses that are funded by forgiven PPP loans. The IRS in Notice 2020-32 ruled that the expenses were not deductible, which seemed to contradict what Congress intended when it deemed the forgiveness not taxable.
Clearing that up one way or the other would avoid a lot of litigation in the coming years.