Most Recent Posts
George Will And Columnist Tax Literacy
I’ve read that a few times to make sure I am not misrepresenting George Will. It is pretty clear that he is saying that there will never be a limit on the home mortgage deduction and that he is using $500,000 by way of example. That is disturbing.
The reason it is disturbing is that there is, in fact, already in effect a balance limitation on the home mortgage deduction. Forgive me as I go geeky on you. Code Section 163(h)(2) denies deductions for “personal interest”. It includes an exception for “qualified residence interest”. A limited exception. A million for acquisition indebtedness and $100,000 for “home equity indebtedness”. The million-dollar limitation has been there since 1987 when the Tax Reform Act of 1986 went into effect.
You Should Just Hang Up On IRS Collection Calls, Legitimate Or Not
If you want to be a good citizen and a good person, you should pay the balance due if there is any way that you can. If your account is getting turned over to these collections folks though you either have a different view of tax than I do or you really can’t pay. In either case, the fact that your balance is growing because of interest likely does not matter, because people in your situation end up paying based on reasonable collection potential rather than the “correct tax”, which is of academic interest. So treat the callers from CBE Group or whichever of the gang of four happens to have your account the same way you treat the guys calling from Mumbai. But watch your mail and tell the IRS when you move.
Trump Tax Proposal And Art Of The Deal
It looks to me like the essence of the plan is to reduce as far as possible the taxes paid by people whose income is derived from capital, particularly when you include repeal of the estate tax. If you think we have income and wealth inequality now, give it a decade or so under this new regime.
Theodore Valentine The Hovindicator With Buyer’s Remorse
When Independent Baptist minister and young earth creationist Kent Hovind, nearing the end of a long prison term for tax-related crimes, faced a trial on new charges...
Century Old Tax Dispute Clouds Property Title
The mineral rights in question had been issued to Union Pacific by the US Government in 1901. That’s how we built the infrastructure that made America great. Take land from the indigenous people and give chunks of it to subsidize railroads. The railroads could then sell the land to settlers and charge them to move produce to market.
At any rate, Laramie County taxed Union Pacific’s mineral rights in 1911. Union Pacific did not pay. There was some remarkably quick work done as the mineral rights were auctioned in 1912. No bidders so Laramie County ended up with the mineral rights. In 1919 Laramie County sold the rights to Iowa Land & Livestock Company. For some reason, no deed was recorded until 1949.
Amazon’s Fight With IRS – At Least It Gives People Work
Perhaps the simplest thing would be to tax public companies based on their reported earnings. The foreign tax credit prevents double taxation. By taxing the companies on their reported earning instead of having one set of accountants scheming how to inflate earnings to help stock prices and another set of accountants over in the tax department scheming on how to reduce taxable income, the pressure would be to tell a consistent story. The IRS could to a significant extent ride on the work of the independent auditors and tax provisions would be comprehensible to more than a few hundred people in the country. On the other hand, a plan like that would probably be a job killer for accountants, so maybe it is good to keep things as they are. At least it gives people clean jobs with no heavy lifting.
Finally Something About The Baby Holm Controversy
I met Bob Baty thanks to my coverage of the fight over the dubious constitutionality of Code Section 107 the parsonage exclusion. He became my most constant commenter...
Mixing Penny Stock With New Cryptocurrency Does Really Not Improve Either
Ernie Land and I have spoken and been in correspondence for several years. Mostly it has been about the trials and tribulations of young earth creationist Kent Hovind, who served a long term in federal prison and who was spared an additional long term by sharp legal work for which Ernie gets a lot of credit. I believe that Ernie is about as sincere as a person with a sales related career can be. On the other hand, Ernie seems to sincerely believe many things that I find preposterous. And visa versa. Kent Hovind’s innocence narrative , evolutionary biology, the age of the earth and a variety of conspiracy theories are among the things that Ernie and I agree to disagree on while maintaining a cordial relationship. Sunshine Capital and Dibcoin will now join that list.
Florida Man Goes From Multilevel Marketing To Cryptocurrency – What Could Possibly Go Wrong?
More than anything else Dibcoin reminds me of a short story by Poul Anderson titled Fairy Gold which is nicely summarized here. A young man is rewarded for helping an elf with fairy gold. Fairy gold is just like real gold at night but turns into trash when the sun rises. A series of transactions occur. The last one is by the hero’s former girlfriend who sells her grandmother’s business before the coin goes poof, but it is fine because now she can live happily ever after with the hero. I’m sure a feminist critique of the story would find it problematic, but that’s not going to bother Poul Anderson who died in 2001.
There’s Still Time To Fund A Roth IRA For Your Underemployed Millennial
Rosen Associates has over 700 dental practices in its client base. The Roth IRA for kids is part of their standard repertoire with the added wrinkle of, when appropriate, finding things that youngsters can do around the office. The idea works not just for twenty-somethings but even for tweens. I found this story by Natali Morris who pays her three year old and five year old for doing things like putting stamps on mailers and shredding. That might be getting a little carried away. Also I would explore potential impact on financial aid, before doing this for kids not yet through college.