Monday, June 27, 2016
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’
“Ninety-eight percent of the adults in this country are decent, hardworking, honest Americans. It’s the other lousy two percent that get all the publicity. But then, we elected them!” -
* NJ taxpayers - have you checked out my unique newsletter THE NJ-1040 LETTER yet? It is, I believe, the only publication devoted exclusively to NJ state income taxes.
* Jason Dinesen begins a new post series “A Little About 1099s: Types of 1099s” at DINESEN TAX TIMES, beginning with “1099-A thru 1099-C”.
* Another reality tv excrement self-important idiot guilty of tax fraud (multiple in this case). Kelly Phillips Erb, the FORBES.COM TaxGirl, tells us “'Dance Moms' Star Abby Lee Miller Reaches Deal With Feds, Will Plead Guilty”.
Reality television shows (I do not include talent competitions or home improvement shows in this category) are steaming piles of excrement and actually dangerous to society. The “stars” are all idiots, and many are tax cheats, and the great unwashed masses are fools for bestowing any kind of “celebrity” on these idiots.
* Kelly also reports “Ryan Again Vows To Repeal Obamacare, Unveils GOP Alternative” (highlight is mine) –
“Under Obamacare, there have been a number of new taxes on health providers, taxpayers, and businesses, including the 0.9% payroll tax on wages and self-employment income; the 3.8% tax on dividends, capital gains, and other investment income for high-income taxpayers (the NIIT); the so-called “Cadillac tax” on high-cost plans; shared responsibility payment (penalty); employer-related mandate; medical devise excise tax; and the 10% adjusted gross income (AGI) floor on the medical expense deduction. Under Ryan’s proposal, House Republicans would repeal all of those taxes.”
* And before I leave the TaxGirl, Kelly explains “When Raising A Child Costs $245,340, It Pays To Strategize For Tax Breaks”, in which she announces her new e-book from FORBES titled “Ask The Taxgirl: Everything Parents Should Know About Filing Taxes”
* The July 2016 issue of my free monthly online newsletter ROBERT D FLACH’S THE 1040 LETTER is now available to download! I discuss the mortgage interest deduction, education tax benefits, and urban tax myths. Click here.
* I had referenced the “NUA” in an earlier BUZZ installment. Beverly DeVeny lists “11 NUA Don’t’s” at the SLOTT REPORT.
* Kay Bell celebrates the 1st anniversary of the Supreme Court decision in Obergefell v. Hodges, which declared same-sex marriage legal throughout the United States, with “Same-sex marriage tax and estate planning tips” at her BANKRATE.COM blog.
* Click here for books and publications of tax planning and preparation advice, information, and resources for the average middle class taxpayer.
* Some advice for online gamblers from David Luczaka, a member of my Facebook group “Tax Pro Forum” (highlight is mine) -
“If you gamble online at one of the many poker or slot sites remember that you are in fact establishing a foreign financial account since NONE of the on line gambling site is located within the US. Should you be fortunate enough to have winning in excess of $10K you are required to file FINCEN114, and possible IRS Form 8938. Many people do not realize that gambling on line may trigger the need for these forms and the fines for non-compliance can be hefty.”
Thanks, David, for the word.
* Let me end with Jamaal Solomon, who asks some questions in “Chronicles of Stikks aka “The Tax Guy”: Was It Worth It?” at STIKKS TALKS TAXES.
THE FINAL WORD
I keep talking about Tronald Dump because I very strongly believe that all Americans who care anything about freedom, democracy, civil rights, the economy, and the future of the country and the world have an obligation to publicly denounce and aggressively oppose Donald Trump and his campaign for the Presidency.
Attention Republicans - just read this editorial from the conservative magazine THE NATIONAL REVIEW, aka "America's most widely read and influential magazine and web site for conservative news, commentary, and opinion" – “This Election Is Not an A/B Test”.
“Donald Trump is unfit for the office.
He is unfit for any office, morally and intellectually.
A man who could suggest, simply because it is convenient, that his opponent’s father had something to do with the assassination of President Kennedy is unfit for any position of public responsibility.
His long litany of lies — which include fabrications about everything from his wealth to self-funding his campaign — is disqualifying.
His low character is disqualifying.
His personal history is disqualifying.
His complete, utter, total, and lifelong lack of honor is disqualifying.
The fact that he is going to have to take time out of the convention to appear in court to hear a pretty convincing fraud case against him is disqualifying.
His time on Jeffrey Epstein’s Pedophile Island, after which he boasted about sharing a taste with Epstein for women ‘on the younger side’, is disqualifying.
The fact that he knows less about our constitutional order than does a not-especially-bright Rappahannock River oyster is disqualifying.”
And also read “Lies, Damned Lies, and Donald Trump” –
“Donald Trump must be the biggest liar in the history of American politics, and that's saying something.
Trump lies the way other people breathe.”
“Trump's lies also present a challenge for voters. The normal assumption is that politicians will bend the truth to fit their ideology — not that they will invent fake ‘truth’ out of whole cloth. Trump is not just an unorthodox candidate. He is an inveterate liar — maybe pathological, maybe purposeful. He doesn't distort facts, he makes them up.”
It still remains impossible for me to conceive how anyone with any intelligence can vote for this fool.