Reads from Last Week. . . .

IMG_0167         Hey, another Sunday and a lot of Post to read. I am throwing in a lot of articles about Finance and such because it is that time of year, and I love Christmas. Yea, December and the holiday cheer. Anyway without further chattedly  conversing, “. . .and here we go.” 

          Compensating audited taxpayers: an idea whose time has come? Now I have always wondered if anyone has thought of this but never really realized so many have. I like the idea and have noticed that many in my field also think highly of this idea, “that the government pay taxpayers whose returns are selected for audit, especially taxpayers subjected to random exhaustive audits the IRS may conduct purely for research purposes.” Yet, there is one who thanks to Mary I know wonder about, as he is opposed the idea, to the point of accusing two highly recognized Economist of smoking, well something of unknown origins. I have enjoyed reading Mary’s post on several topics and suggest this one is a great one for all to read then consider talking to your congress people about it.

          I also enjoyed this Public finance puzzle also from Mary over at Bed buffaloes in your tax code. 

          Kay Bell writes “The investment tax is back! A few months ago, the possibility of a tax on investment transactions was floated. It didn’t go too far then. Treasury Secretary Timothy Geithner even noted that he “hadn’t seen a version of the tax that’d make much sense.” Now, however, with ballooning deficits, war costs to pay and health care financing about to dominate the waning days of this Congressional session, the transaction tax idea has resurfaced.

         From The IRS Hitman IRS Tax Debt: Income Dropped? Two ways to Get out From Under Tax Debt and Tax Debt Myths: Real Ways to Stop an IRS Tax Levy, and Myths to Avoid. 

            War tax? Why stop there? A great one from Joe over at the Tax Update Blog. 

        If you use Paypal or another service to process credit card payments Stacie posted on the proposed regulations, something you need to know, please read her post Have You Heard About Form 1099K? Also from Stacie on her tax tips blog make sure to catch Some More Info on The Homebuyer Credit. 

            I haven’t, in the past, mentioned much from the Taxgirl, always just thought everyone read her stuff every day.  I have since learned better of that. She always writes such wonderful pieces and easy for all to get. I still need to make better mention of this great tax blogger. Getting to the point if you are about to undergo an audit or even about to here are 7 Audit Lessons (or How I Learned to Stop Worrying and Love the IRS) Okay “Love the IRS might be a bit out there but still a worthy and informative post.

             Monica hits the nail on the head in her post Just to make a point. Come on guys lets do something a bit more productive. Please? 

            My blogging friend and I’d dare to say mentor into the same world, Robert Writes in his Saturday buzz “Back at the ROTH AND COMPANY TAX UPDATE BLOG, Joe Kristan’s post “New Business? How Do You Go About It?” led me to “Get It Right the First Time” by Chris Branstad at IOWABIZ.COM.

          It is great to have one’s professional advice supported by peers. Both Chris and Joe echo my advice on incorporating.” I couldn’t agree more. One other “Must Read” from TWTP is TAX PLANNING AND THE AMERICAN OPPORTUNITY CREDIT. 

         If you are not a regular reader of TickMarks please make yourself familiar with the writings there. Every year host and is Coming Soon! The Fifth Year of “Twelve Blogs of Christmas”  Last week there was Twelve Blog Update: New Blogs Added. Where it was mentioned of the new site address here. Thanks Dan. 

         Ever wonder, 3 Reasons Why Inflation Will Not Be Stopped? Another post I found very interesting as I dive deeper into the PF world of things, Your Electric Bill – Your Price to Compare Can Mean Savings! Also posted over at A Personal Finance Guide, a great blog put together by Susan K.. 

          You Need a Budget Pro Giveaway over at Cash Money Life. I recommend YNAB regularly so get entered to win asap. Great giveaway Patrick. I also liked his post Shopping Responsibly on Black Friday. 

        I wrote a post about Black Friday last year called The Idea behind the term “Black Friday” 

        If Black Friday wasn’t your thing I’d like to point you to Black Friday and Cyber Monday 2009 – If You Must Go Shopping, Plan Ahead. Great post Kevin. 

          Homemade gifts – yea or nay? A good look at this. I plan to do a few gifts that are “homemade”, anyone else out there planning this? Especially this year? 

         In the same light of things here are 28 Thoughtful Homemade Gift Ideas. 

         Here are 5 Ways to Save this Holiday Season. 

         Also from Living Almost Large be sure to check out Budget billing worth it? If you are considering such a thing make sure not to miss this. In case anyone is interested, I have all my utilities set up this way, at least the ones that offer it. 

         Two great articles from my friend over at Saving to Inve$t 401k Cash-Out For Loans vs. Hardship Withdrawals – Penalties and Taxes and Taxes and Gains I Can Exclude When Selling My Home. I love it when Andy writes about tax stuff, He does a great job and keeps me from having to add anything to what he writes. I hope Andy sticks around for a long time. 

         In closing I’d like to mention a fond welcome to Kim (aka Kimmer). She made her debut here in the Personal Finance arena of blogging. I am glad she has joined me here at The Missouri taxguy. Her first post Personal Finance 101: Budgeting – it doesn’t have to hurt was looked at long enough to register 786 times as of the time of my finishing this Post. Good job Kim, keep the information coming.


If you are wondering, the picture is my home/office.

© 2009, Bruce McFarland. All rights reserved.

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1 Comment

  1. November 30, 2009    

    Thanks for the mention! How I wish Congress would find more productive things to do with its time. Maybe I can make some change happen after we sell this house and move next summer. Someday, Congress is going to hear from me!

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