* Attention fellow tax pros – join me in my
crusade to reform the US Tax Code by signing the petition – click here.
* Just a reminder – time to start looking
for a professional tax preparer for your 2015 returns. Don’t rely on a “box” or Henry and Richard -
you should totally ignore the ridiculous Turbo Tax and H&R Block television
ads. Begin your search at FIND A TAX PROFESSIONAL.
* Over at DON’T MESS WITH TAXES Kay Bell
reminds us “Final 2015 Estimated Tax Payment is Due Friday, Jan. 15”. Hey – that
is today!
* Jason Dinesen’s series on “Glossary” at
DINESEN TAX TIMES briefly describes the “Social Security Wage Base”.
* The PATH Act did not extend all of the
“tax extenders”. The TAX FOUNDATION
answers the question “Which Tax Extenders are Left?” by providing a list of the
“extenders” that will expire on December 31, 2016.
If you ask me none of these “extenders”
should be extended past 12/31/16. The
Tax Foundation suggests (the highlight is mine, to show agreement) –
“Looking
over the list below of remaining tax extenders, none of them seem like
‘must-pass’ policies. As a result, the pressure is off of Congress to renew all
of the tax extenders as a package. Instead, Congress should take the time to
evaluate the remaining tax extenders one by one, making the good provisions
permanent and letting the bad ones expire. Temporary
tax policy is bad tax policy, and it’s about time that Congress laid the ritual
of tax extenders to rest once and for all.”
* While the State of the Union address was
light on tax talk, Michael Cohn of ACCOUNTING TODAY tells us that in the speech
“Obama Proposes to Expand Tax Cuts for Childless Workers”.
And –
“Obama
began the speech Tuesday night, the last of his presidency, by praising the new
Speaker of the House, Paul Ryan, R-Wis., for helping shepherd the tax extenders
legislation through Congress last month.”
Let us hope this rare example of cooperation and positive action by the idiots in Congress is a sign of things to come - but don't hold your breath (after all, they are idiots).
What BO is referring to in the item’s title
is expansion of the Earned Income Tax Credit, a potentially refundable credit,
for taxpayers with no children. But
instead of expanding the credit, the
EITC should be removed from the Tax Code!
THE FINAL WORD -
The “great unwashed” do not seem to
understand that the issue with Donald Trump as a candidate for President really
has nothing to do with what he saying or proposing as a candidate, however
weird and inappropriate it may be. The
problem with Trump is the character, personality, nature, disposition,
temperament, mentality, and makeup of the man Donald Trump.
Donald Trump is a self-absorbed,
self-important narcissist. His only
motivation for doing anything is to feed his excessively, and undeservedly,
enormous ego. While he “is” a character,
he “has” no character (definition = moral or ethical quality). He is all ego and no character. And he is totally incapable of responding to
criticism and challenges like a mature adult.
This is why he is not Presidential material.
Even if some of what Trump was saying and
proposing as a candidate actually made sense, or if you support some or all of
what he is saying and proposing, he would still never be “Presidential” because
he is Donald Trump.
A truly savvy and intelligent billionaire
businessman would want to be a “king maker”, but would never want to be the actual
“king”.
If we, and the press, had ignored Trump
from the beginning, and treated him as the joke he is, he would have soon lost
interest and dropped out.
TTFN
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