Another
special Wednesday BUZZ.
* Only 58%?
Aaron Blake of the WASHINGTON POST “Post Politics” blog tells us that
“58 Percent Want to Unseat Their Own Member of Congress” –
“The
George Washington University Battleground Poll shows just 26 percent of people
say their own member of Congress deserves reelection, while 58 percent say it's
time to give someone new a chance.”
None of the damned
fool idiots deserve anything but our contempt – they certainly do not deserve re-election!
* For decades I have been telling readers
that you should contact your tax professional before doing almost
anything. This includes before you marry
and before you have kids.
My usual standard advice is to get married
early in the year and have children late in the year. Your marital status is determined on the last
day of the year, so if you are going to have to pay the “marriage tax penalty”
for the entire year you might as well enjoy the benefits of marriage for as
long as possible during the year. And as
long as a child is alive for one day of the year he/she can be claimed as a
dependent – so I child born on New Year’s eve will provide you with full tax
benefits for only one day of costs.
Kelly Phillips Erb, FORBES.COM’s TaxGirl,
gets more artful in her “family” tax planning, at least when it comes to
deciding when to marry, in “Saying 'I Do' To Tax Planning”.
* A blast from the past post by Jim
Blankenship at GETTING YOUR FINANCIAL DUCKS IN A ROW discusses in detail the
methods of “Calculating RMDs for Various IRA Beneficiaries”.
* It just keeps on coming. Russ Fox reports on more IRS FUs in “IRS Scandal Update”.
* Peter J Reilly reminds us of an important
consideration when doing year-end tax planning – “When Planning Never Forget The Alternative Minimum Tax”.
He correctly warns –
“Probably
the biggest thing that will cause simplistic tax planning to crash and burn is
the alternative minimum tax (AMT).”
* Kay Bell gives us “Tax Carnival #122: Return to Standard Tax Time” at DON’T MESS WITH TAXES.
Some good entries regarding Obamacare and
saving for retirement.
* A reminder to check out “A Good Guy’s Tax
Journey Series Part 1 – Tax Tips on How to Deal With the IRS and Live to Fight
Another Day” by fellow tax blogger (THE TAX FACTOR) Jamaal Solomon EA. Click here for my review.
TTFN
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