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Saturday, December 09, 2006
Friday, July 29, 2005
The FAIR TAX - Finally a Solution to our Income Tax System.
With a consumption tax, you are taxed when you spend...but don’t worry, there will be no 4 dollar gallons of milk. Under the current system, when you pay for that gallon of milk you are paying for the income taxes of the dairy farmer, the dairy/bottler, the wholesaler, the truckers that distribute the milk, and the grocery store. Under the "Fair Tax" that all goes away plus you keep 100% of your income (look ay your pay stub that will probably be a 30-50% raise...not bad).
On top of this, all taxpayers will be given rebate checks for the amount that the average person would spend on basic necessities.
This is a truly fair system...you don't spend...you don't pay tax. Rich or poor there are no loopholes and you don't have to pay me $300 to find out how much you owe (I hope I still have a job).
'You absolutely need to check out this book, I can't wait to get my copy.
Monday, November 29, 2004
SUV Loophole Closed.
This is no more. So be careful if anyone suggests that you buy a large SUV and expense it.
Tuesday, November 16, 2004
Max out your 401(k)!
You have until April 15, 2005 to contribute to your personal IRA account, but you have to act now to get the benefits of your company sponsored retirement plan.
Thursday, November 11, 2004
Teachers...Would You Like $250?
Some teachers though have felt the responsibility to use some of their own funds to help purchase supplies needed to make the classroom environment better. To these teachers the IRS would like to say “thank you.” They will express their appreciation by offering you an adjustment to income of up to $250.00.
This is not a truckload of money by any stretch of the imagination, but if you’re a teacher, you deserve it.
Wednesday, November 10, 2004
The IRS wants to help you buy a car.
New legislation enacted for this year, will enable taxpayers to continue to claim an adjustment to income up to $2,000. So if you purchase a NEW hybrid vehicle the government will help you buy it.
You will notice that neither Honda has been certified for 2005, but I can’t think of any reason why the IRS will not certify them in the near future.
The hybrid cars cost considerably more than their gas guzzling counterparts, but with gas over $2.00 a gallon, 60 miles to the gallon is worth something.
NOTE: Just remember that a $2,000 adjustment is only worth roughly $500 in the 25% tax bracket.