Wednesday, August 4, 2010


I am off to the Lake District of PA (Wayne and Pike Counties) for my annual visit to the summer playground of my youth (and my future home). FYI – there will be no BUZZ installment on Saturday.

* Did you see my piece “Don’t Fear Home Office Deductions” over at MAINSTREET.COM?

* Joe Arsenault is almost finished with a special 5-part series of posts on “saving money, becoming solvent and debt free” at his CAFETAX blog. The series is not about income taxes, but provides good advice anyway.

It began on July 29 with the appropriately-named post “Money Saving Tip # 1” and should finish by week's end.

* Kay Bell keeps us up-to-date on the progress of the effort to repeal the new 1099 reporting requirements in her post “Efforts to Repeal 1099 Reporting Fails” at DON’T MESS WITH TAXES.

The news is not all bad. Kay tells us that – “the added 1099 rule is becoming universally unpopular on Capitol Hill. That bodes well for its eventual removal before it takes effect in just over a year and a half.”

* Now don’t forget to check out Kay’s “Tax Carnival #73: Summer Dog Days 2010”. My post “It Ain’t Necessarily So” is included.

* TAX GIRL Kelly Phillips Erb hits the nail on the head with her editorial post on the same topic titled “Repeal, What Repeal? We’ve Got Egos to Stroke! Special Interest Groups to Pacify!”.

* Don’t forget to check out MISSOURI TAX GUY Bruce’s weekly Sunday “Reads from Last Week” for tax and personal finance posts that I missed in Saturday’s BUZZ.

* I love it when the idiots who appear on so-called “reality shows” get caught being idiots. The IRS HITMAN tells us about “Khloe Kardashian's New $18,490.74 Tax Lien”.

The Hitman is correct in describing her as “famous-for-being-famous”, as opposed to being famous for being talented or for actually doing something of value or contributing something to society. This fool’s claim to fame is that her sister made a sex tape with a rapper.

And Hitman joins the TAX GIRL in hiting the nail on the head when he observes –

It's still a mystery, how the hell do these rich celebrities who make multiple millions neglect to hire a reliable accountant? And what makes them think they'll get away with not paying the almighty tax man?

I guess it takes actual brains to realize that one needs to consult a tax professional in such a situation – a commodity these “reality tv” arseholes are truly lacking.

* Bill Perez of WILLIAM’S TAX PLANNING BLOG reports that “California Sending out Head of Household Audit Letters”.

According to Bill -

California's Franchise Tax Board began mailing out some 135,000 notices to Californians who claimed the head of household filing status on their 2009 California return. The letters simply ask that the taxpayer answer a few questions to confirm that they are eligible to utilize the head of household status.”

“Talk” to you when I get back!


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