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Most Recent Posts

You Do Not Have To File A Joint Return And There Are Some Reasons Not To

You Do Not Have To File A Joint Return And There Are Some Reasons Not To

Filing a joint return for the last year of marriage is a reasonable course, if the couple is going to cooperate with one another.  The problem is that couples who are really good at cooperating with one another are not among those likely to be getting divorced.  Planners generally assume that the final return of the marriage will be joint.  I think the more prudent thing to assume is that filing will be separate unless the case is made that the joint return saves money and, most importantly the balance due is being properly addressed.  The respective audit exposure of the spouses also needs to be considered.  Bottom line, though, is that you should never feel compelled to file jointly and particularly in a divorce situation should consider the pros and cons very carefully.

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NorCal Tea Party Patriots V IRS – Grassroots Or Astroturf?

NorCal Tea Party Patriots V IRS – Grassroots Or Astroturf?

As noted the litigation is being funded by Citizens For Self-Governance.  The suit gets prominent play on CSG’s website. One of the things that flashes up is that CSG filed the only class action lawsuit against the federal government to defend the law-abiding citizens who were harassed by the IRS.  That was the point of contention in that CSG actually could not file the suit, since it was not part of the class.  It is funding the suit.

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Tax Foundation Analysis Of Sanders Plan Only Shows Downside

Tax Foundation Analysis Of Sanders Plan Only Shows Downside

The problem with the Tax Foundation analysis is that it does not account for the fact that all those businesses and individuals will not be paying for health insurance anymore As I understand the Tax Foundation’s model it is almost as if the over $5 trillion that is raised from the payroll and household tax and the over $3 trillion that is raised because there won’t be deductions and exclusions for health care expenditures is taken from the economy and flushed down the toilet.  According to the Tax Foundation taxpayers are behind by $3 trillion because they are not getting health insurance deductions anymore.  What is not included in the analysis is the gain from not paying health insurance anymore.

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Bernie Sanders Tax Plan Moderate On Top Income Tax Rate

Looking at the whole plan, it is easier to think about it in terms of somebody who is self-employed, since they, presumably, pay both the employer and employee share.  To give Bernie the benefit of the doubt, just as a thought experiment, assume that the health care plan is pretty good, such that you don’t need insurance (I recognize that is a big leap for many).  You are getting hit with that 8.4%, but no longer paying for health insurance, so anybody south of $100,000 is feeling pretty good and even at $250,000, it is not that bad.  If you live in a high-tax state, the income tax features are not so bad even as you move into the high six figures, but the FICA and the health charge will be very painful.  So it looks like “the rich” starts with people making $300 grand or so and it’s not all coming out of the billionaires.

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Disparate Tax Views At Opening Of Bernie Sanders Worcester Office

State Director, Paul Feeney, told me that the campaign will probably be issuing a full-blown tax plan before Iowa.  From my limited survey, it seems that supporters are not attached to a high marginal rate, which I happen to think is a very bad idea. According to the Tax Foundation 74% would only raise about $2.37 trillion over ten years on a dynamic basis.  More anecdotally, I remember what it was like prior to 1986, when people could be persuaded to do preposterous things, since the government would be paying half or more of the cos

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Bernie Sanders Might Drive Bill O’Reilly Away With Nonexistent 90% Threat

His plan has some credibility, as I have myself, toyed with the idea of claiming Irish citizenship.  The two reasons are that it can make it easier to do business in the EU and that when the terrorists come on the plane to kill all the Americans you can show them your Irish passport.  The rules for claiming Irish citizenship by descent are explained here.  Nanna Reilly is my ticket, since she was an immigrant.  When she came to the United States, as a young woman, soldiers were going off to war – against Spain.  If I had been pro-active in the eighties, my kids would be eligible, but I let them down.

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