Tuesday, December 1, 2015

WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’ – TUESDAY EDITION

* Over at BOBSERVATIONS I announce the Forestburgh Playhouse summer 2016 season in “Another Op’nin’, Another Show”.

* US NEWS AND WORLD REPORT advises “How to Maximize Your Retirement Accounts in 2016”.

Once suggestion is “Take full advantage of IRAs”.  I have posted here at TWTP in the past that “Everybody Ought to Have an IRA”.

* Still time to take advantage of year-end tax-planning to reduce your 2015 federal, state, and local tax liabilities.  How to start?  Get my “2015 Year End Tax Planning Guide”.

* The Tax Foundation’s TAX POLICY BLOG reports “Universal Savings Accounts Introduced in Congress”.

This bill, sponsored by Senator Jeff Flake (apparently one of the few idiots in Congress who is not one) and Representative Dave Brat, is, as the post suggests –

. . . a step in the right direction; the proposal could be improved, though, with a higher contribution limit. Additionally, lawmakers may want to consider the traditional IRA structure, which gives a tax deduction up front, and then taxes withdrawals at ordinary rates.”   

I have suggested two types of USA accounts for some time now – a USA for education, medical, and other appropriate purposes, to replace the HSA and MSA, the ESA, the ABLE, etc accounts, and a URSA (Universal Retirement Savings Account) that would replace all the current alphabet soup of retirement plans.  At age 65 balances in a USA could be rolled over to the URSA.  They could be either “traditional” or “ROTH-like”.

* Attention tax pros Part I - The December 1, 2015 “issue” of TAXPRO BUZZ is now up.  Click here to check it out.

* The WASHINGTON POST tells us “Tax Extender Negotiations Heat Up” –

House and Senate negotiators are working to complete a deal as early as this week that would revive dozens of expired tax breaks and could also seek to scale back a controversial part of Obamacare {the Cadillac Tax – rdf} and expand some tax benefits for low income workers {the Earned Income Credit – rdf}.”

It is getting late – and there is really not much time left before the idiots in Congress leave for the year. 

At this point it is necessary that the idiots extend the “tax extenders” en mass – but I want the EIC repealed, not expanded.  Expanding the EIC just means inviting more tax fraud.

* Attention tax pros Part II - a free offer for the premiere issue of my new quarterly e-magazine THE TAX PROFESSIONAL (coming in January 2016) – see my website THE TAX PROFESSIONAL.

* Attention NY and NJ tax pros – I talk about “REQUIRED NEW YORK STATE CONTINUING EDUCATION FOR TAX PREPARERS” in the Winter 2015 issue of NJ TAXING TIMES, the NJ-NATP newsletter.

And speaking of the NJ chapter of NATP, the annual “Famous State Tax Seminar” (and it is truly “famous”) will be held on Saturday, January 9, 2016 at the usual location – the APA Hotel Woodbridge at 120 Wood Ave South in Iselin, NJ.  This year it is totally devoted to NJ state (and NY state) taxes – payroll, sales, property tax, corporate, and individual – with a special “NJ Line-by-Line” presentation by local experienced tax pros. 

This is one seminar that every tax professional who prepares NJ state income tax returns should attend. 

Click here to download the registration form.

THE FINAL WORD

I am still very worried about the future of this country.  Every time Donald Trump opens his mouth he further verifies the fact that he is a fool and most definitely not a legitimate Presidential candidate.  Yet despite his continued ridiculous babblings he is still the Republican front runner.

TTFN

 
HOLIDAY SPECIAL OF THE WEEK!
 
 
REGULAR PRICE = $7.95
SPECIAL DISCOUNT – 2/3 OFF = $2.65!
 
AVAILABLE ON ORDERS POSTMARKED BETWEEN DECEMBER 1 AND DECEMBER 5, 2015
 
MY BEST TAX ADVICE SPECIAL OFFER
TAXES AND ACCOUNTING, INC
POST OFFICE BOX A
HAWLEY PA, 18428
 

No comments: