Tuesday, November 19, 2019
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?
As you read this, I am in Atlantic City at the annual year-end tax update seminars of the National Association of Tax Professionals. I will report on what we learned after I return.
* A belated happy 14th Anniversary to Kay Bell’s DON’T MESS WITH TAXES blog! Here is her first post – “The Most Wonderful Time of the Year”.
Congratulations to the yellow rose of taxes!
* Just when we tax pros thought we didn’t need to deal with client health insurance coverage anymore Russ Fox tells us “Out With the Fed Mandate; In With State Mandates” at TAXABLE TALK.
“Massachusetts, New Jersey, and the District of Columbia have their own mandates for the 2019 tax year (tax returns filed in 2020); Massachusetts’ mandate began in 2007. California, Rhode Island, and Vermont have implemented mandates for the 2020 tax year (tax returns filed in 2021).”
Unfortunately, as 90% of my clients are NJ residents I will have to continue to deal with this PITA. I personally have never believed a taxpayer should be penalized for not having “adequate” health insurance coverage for all household members for the entire year.
* A topical post, considering Trump’s crime (only one of many). Robert W Wood explains “Quid Pro Quo? Actually, IRS Cares Too” at FORBES.COM.
RWW deals with the QPQ in terms of charitable contributions, stating “The tax law is clear that you cannot write off a charitable contribution if it wasn’t really a charitable contribution.”
* Speaking of charitable contributions, TaxGirl Kelly Phillips Erb describes “The Gifts That Keep On Giving: 5 Strategies To Tax-Optimize Charitable Giving”, also at FOBES.COM.
* KIPLINGER.COM has put its 2 cents into the discussion of state taxes and identified its choices for “Best States for Low Taxes: 50 States Ranked for Taxes, 2019”.
No surprise that New Jersey is on the list of top-10 least friendly tax states. Kiplinger confirms “New Jersey’s property taxes are the highest in the U.S.”.
Unfortunately, I found no list of the 50-state rankings. There is a state tax map (here) where you can click on a state to go a detailed analysis.
THE LAST WORD
Donald T Rump was unfit to be President in 2016 and is unfit to be President today and in 2020 because he is Donald T Rump – a corrupt and unethical businessman with more failures than successes and an ignorant, racist, delusional malignant narcissist and sociopath totally devoid of humanity, integrity and credibility.