Damn shame to start the week off realizing the Market can’t hold its own. Kay Bell from Don’t Mess With Taxes, let us know that the Vote was against the bail out. With any luck they’ll do something more constructive. For the low down check out Kays entry Bailout Bombs. She has a lot of good links to see what happened.
Finially a candidate with a good idea. I know, it sounded silly when I wrote it too. But Obama Proposes Raising FDIC Insurance Limit. A limit that hasn’t been raise since 1980. Meaning roughly that in terms of the era, and inflation, the insurance would need to be almost 250,000 to be worth as much as 100,000 was 28 years ago. Some good reading on this subject at the post above from Joseph Henchman at the Tax Policy Blog.
Taxgirl takes a great look into what it cost to keep healthy in her post How Much Does it Cost to keep America Healthy? Plus Kelly is in the mist of changing her site around a bit. Looks good too. She told me she’s still working on it so it can only get better. Go check it out at TAXGIRL.
Over at The Tax Lawyers Blog, we get a seemingly Irish look at taxes. Funny Tax Guy Song is a good laugh. As Peter points out “He can carry a tune and the lyrics aren’t bad.”
There is an interesting Question posted and answered by THTP in his post Ask The Tax Pro – Child Care Benefits. Please for those of you not in know keep in mind, this is an important issue that isn’t always caught by tax payers who prepare their own tax returns. Another good reason to hire a pro.
Trent from the simple dollar gives us a great look at the “extra paycheck” we get. In his post Personal Finance Management on a Biweekly Pay Schedule he discusses how it is looked at and how it should be looked at.
Everybody is keeping an eye on the election somehow or in some way. From a tax point of view we want our “leaders to be tax correct. Don’t we? After all they are going to be providing tax breaks for all of us, right? Covered the Tax Prof Blog we find a Vice Presidential candidate with a “questionable” return. Please take the time to read Gov. Palin Releases Opinion Letter Justifying Not Reporting Per Diem Expense Reimbursements as Income.
Then we have a great catch from Peter over at The Tax Lawyers Blog in his post How can a Tax Credit be “Budget Neutral?” he discusses or points out an issue from the debate.
Russ Fox of Taxable Talk does a great job reporting on tax cheats who get caught. In his post “They Should Have Known Better” tales of several tax cheaters who should have known better.
At the end of tax season in the year 2007 (preparing 2006 returns), I was diagnosed with asthma. As time went on it grow into quite a situation for me. I had been a smoker for a very long time (somewhere in high school when I first started) and this was frustrating. However in that time I have learned a great deal. One of the biggest problems was finding things to use that weren’t aerosol. Cleaners and air fresheners mostly. Cleaners are still a learning thing, but I think I have a handle on Air fresheners thanks to Madoline over at Our Fourpence Worth with her post Healthy Alternatives for Aerosol Air Fresheners. Thank you very much Madoline.
Some good points are made by Any over at $aving to Invest in his post Tax-Exempt Money Market Funds are Rocking. To find out why, read this post. Also be sure to read his links as the information (both his and from the www) is very good. He is about to inspire me to post about such things, maybe. We’ll see how next month goes.
In a great Post by Gerald Prante over at the Tax Foundation Blog, a great question is asked and answered. Is Any Ol’ Tax Cut a Good Tax Cut? No. In it you’ll find some real interesting information and thought.
The “economic crisis” hits home for Wide Open Wallet. For her and her family, things are about to change.
Okay, the economy is in the toilet. Most of the blogs I read are giving the “Bailout” all the press time. Blunt Money goes past what the ones in charge are doing and advises us all on How to prepare for a Layoff. We all know the economic situation sucks, it’s nice to see that some of us can look past the fools on the hill, and focus a bit on getting by as an individuals.
Focus is key, and we all need to focus on how we are going to get through the economic spiral. Am I for or against the bailout? You know, If I make a bad decision, and loan money to a questionable source. My mistake, and I’m not going to look for anyone to help me out. We seem to live in a society where credit is key. So why is there such a global push for us to get rid of it (i.e. get out of debt). The corporations that are failing are the same ones who have lobbied for tax cuts that afford them to take losses from previous years to offset gains this year. These same companies (not all) are claiming record profits. (like oil) It tends to make one wonder (or should) how. I heard from one client who works for a worldwide retail corporation, that in one week corporate changed/increased the price of an item three times. That item increased in price by $23.00 in a week. He also told me that he gets a list almost daily of price increases. We pay more, they make more. Maybe we should try and stop the madness. Not give it an injection of steroids that will wear out to soon.
A quote from an editor of a magazine I read regularly:
“The Fed and the Treasury Department have made it clear that they will spend and guarantee whatever it takes to prevent a collapse of the financial system. As a taxpayer you should be appalled. – As an investor, be relieved.”
And thus the bailout plan passed. Talked about at almost every blog in my blogroll. There are some good things to come out of this, but the “bailout”, the three pages that got turned down Tuesday, is still the same. Now over 400 pages later with tax extensions and other such being added (and has nothing to do with the Bailout) it passed. Then signed the same day by our President. Hold on everyone, the ride is about to get bumpy.
Tomorrow my series continues, I’ll be up on Monday, Wednessday a guest post from Blunt Money, and Friday a guest post from IRS-Hitman.
I also have a guest post on Monday at TWTP. He will be locked in a room next week and not wondering the blog-o-sphere this coming week. Look for the links to his guest post as they appear. Did I mention mine was going to be up on Monday? It is titled BEST OF THE BEST – BRUCE MCFARLAND. Several of us are giving out our best advice in the tax world. Try not to miss the series. (it last all week)
© 2008, Bruce Mc. All rights reserved.
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