Friday, October 2, 2015
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’
* Tronald Dump revealed his tax proposal this week. It will not be referenced here for two reasons-
1. I do not consider the Dumpster a legitimate candidate, and certainly not one who should be taken seriously. I doubt very much he will last the entire campaign. I will never report on any of his campaign proposals, and will only reference him in the context of his buffoonery and inappropriateness as a Presidential candidate.
2. It is too early in the campaign to spend time on candidate proposals other than in passing – especially with so many candidates. I will report in more detail on the candidates’ tax proposals as we get closer to the actual primaries, and when the two final candidates are “crowned”.
If you are interested in comparing the current candidates’ tax proposals you can use the Tax Foundation’s interactive tool “Comparing the 2016 Presidential Tax Reform Proposals”.
* Are you looking for a tax professional to help you with year-end tax-planning? Before you begin your search check out my advice on “Choosing a Tax Professional” and “What to Ask a Preparer”.
* Over at ACCOUNTING TODAY Jeff Stimpson reports “IRS Offers Relief to Calif. Fire Victims” -
“Victims of the Valley and Butte fires that took place beginning on September 12 in parts of California may qualify for tax relief from the Internal Revenue Service.
Following recent FEMA disaster declarations for individual assistance and President Obama declaring Lake and Calaveras Counties a federal disaster area, individuals who reside or have a business in these counties may qualify for tax relief.”
* Gail Buckner of FOX BUSINESS suggests “For HUGE Tax Savings Marry Today, Divorce Tomorrow (Or Vice Versa)”. Very interesting.
THE LAST WORD –
Bring me the head of the dreaded Alternative Minimum Tax!
The dreaded AMT does NOT assure the rich do not avoid paying taxes. Its victims are the middle and upper middle class – especially those in highly taxed states like NJ, NY, CA, etc.
Any tax reform MUST include the repeal of the dreaded AMT.