Saturday, May 19, 2012
WHAT’S THE BUZZ? TELL ME WHAT’S A HAPPENNIN’
* Prof Annette Nellen provides us with a sign of hope in “Congressman Camp Seeking Comprehensive Tax Reform” at 21st CENTURY TAXATION.
She quotes from a recent speech by House Ways & Means Committee Chairman Dave Camp of Michigan –
"If we are to unlock new opportunities for job creation and strengthen the economy, then we must take even larger steps toward comprehensive tax reform. At the Ways and Means Committee, we have established a framework for comprehensive reform that brings the corporate and the individual rate in line at a top rate of 25 percent on both sides."
Camp wants to “Collapse the six rates on the individual side to two rates of 10 and 25 percent” and “Eliminate the AMT, which should have been named the ‘alternative maximum tax’”.
* Trish McIntire of OUR TAXING TIMES warns us of a new “Energy Scam” – and gives some excellent advice -
“Bottom line, any time you hear of a government program giving you a credit, talk to a tax pro. If it’s legitimate, we should know.”
* Jason Dinesen answers the question “You Hired A Nanny – Now What?” at the DINESEN TAX TIMES.
Must reading for anyone who has just done so – especially if you want to run for office or be appointed to the Supreme Court or as a cabinet official in the future.
* Paul Neffer reminds us to “Make Sure You Get Written Confirmation of Donation!” at FARM CPA TODAY.
* And TaxGirl Kelly Phillips Erb reminds us that “National Ride Your Bike to Work Day Offers Chance to Lower Tax Bill” at FORBES.COM.
“Under the Tax Code, your employer can provide to you – tax free – a de minimis transportation benefit. . . . One of those de minimis transportation benefits is the qualified bicycle commuting reimbursement.”