Monday, November 20, 2017
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’
Last Friday I attended the National Association of Tax Professional’s annual “The Essential 1040” year-end tax update workshop. Last year in October I had compiled “What’s New For 2017” (click here to download) to report much of what was discussed at this workshop. Today’s post at THE TAX PROFESSIONAL, “The 2017 NATP Essential 1040”, has my “review” of the event. And I will post items of interest for taxpayers from the workshop here later this week.
* Speaking of NATP – the organization has produced a good, but very general, comparison of the recently passed House “Tax Cuts and Jobs Act” and the version approved by the Senate Finance Committee that will be voted on after Thanksgiving. Click here to download.
In case you are interested - in my opinion the Senate version is worse than, or perhaps I should say not as good as, the House version. Of the 2 I prefer the House version, although it certainly has provisions that I oppose.
* Paul D Allen deals with an important but little understood topic in “Interest Tracing Rules” at the PIMCO TAX BLOG.
“Like many things in the tax law, this is one of those concepts that doesn’t seem important to know until it applies to your personal tax situation.”
An excellent bottom line –
“Taxes are definitely not easy, and interest tracing rules don’t make them any easier.”
* Kelly Phillips Erb, aka FORBES.COM’s TaxGirl, gives us an “Ask The Taxgirl” post on “Dependent Care Expenses & Stay-At-Home Parents”.
* Kay Bell provides a timely warning - “Beware year-end ID theft and quick cash scams” - at DON’T MESS WITH TAXES.
* Once more, for those who are interested – click here to download TAX BUZZ, the new monthly e-newsletter for my 1040 clients.
THE FINAL WORDS
(1) I do not oppose, nor would I deny, an individual’s right to possess genuine religious beliefs and convictions. I do not, for example, question a person’s right to legitimately be a “devout” Christian, or a “devout” Muslim, and lead their personal lives accordingly.
I may personally disagree with, challenge, or oppose an individual's specific religious beliefs and convictions, and interpretations thereof, and an alleged “devout” person’s hypocrisy in the selective choice of specific beliefs, interpretations and convictions of a religion to support.
But I certainly strongly oppose, and would most certainly deny, an allegedly “devout” religious person’s attempt to force his specific religious beliefs or convictions on me, or any other person, via local, regional or national legislation. If nothing else, the separation of Church and State forbids this.
(2) More Republicans in Congress are now rightfully calling for Ray Moore to step down, based on the multiple credible accounts of under-age women he assaulted.
Yet most of these same Republicans ignore the 15 credible accounts of women assaulted by Trump, and his unapologetic bragging about sexual assault.
So, according to the Republican Party, it is only wrong to assault teenagers. Once a woman reaches the age of majority she loses her rights and it is okay to assault her without consequences?
But wait, Trump is also accused of sexually assaulting a 14-year old.
An aside – it is odd that Hollywood has higher standards for behavior than Washington.
Bottom line - the same Republicans calling for Moore to step down should also be calling for Donald T Rump to step down!