Reads From Last Week
Last week was July 4th, a great day for this country. I asked two of my children if they knew what all the hubbub was all about and both gave a pretty clear “nope”. At first I blamed myself, then their mother back to myself then the school system then myself again. How could my children not know about our Independence? For many of us in the US, this means picnics and barbecues, fireworks and parades. I’d like to think that most people in this country know about this holiday, what it represents and why we celebrate it so. “In the middle of all of the pomp and circumstance, let’s not forget why we celebrate this day.” Please read Happy 4th of July! From the TAXGIRL.
and the truth is out, stop reading that email No Tax on Health Care Benefits for 2010 or 2011 or…
IS A PUZZLEMENT is a post describing an IRS situation of confusion. This is a great post because it shows just how confused the IRS can be and often is.
And the final piece of the list Midyear tax tip #10: Get organized. Well done. For a recap of all ten you can visit my post from last week.
The IRS Hitman points out that the system just isn’t what it should in his post Prison Inmates Con the IRS Out of $9 Million in Homebuyer Tax Credits.
One Job “Created,” Another Destroyed - “On a tour to view the results of this spending he spoke in front of employees of Smith Electric Vehicles in Kansas City, MO, and pointed out that “There is a thriving enterprise here instead of an empty, darkened warehouse.”"- Okay to get this you’d have to read the post, but hey The Presedent was here in the area.
IRS Patrol: IRS Requests Public Input on Expanded Information Reporting Requirementis a post from Stacie over at Stacies more Tax tips. If you’re wondering about expanded reporting requirements for Form 1099 recipients please read her post.
Must a Practitioner Audit a Client’s Financials? The IRS would think so?
Joe from the Taxupdate blog is out on vacation. summer reruns have been being posted if you have missed them be sure to go now and read them.
the writing on the wall: stock prices for H&R Block and competition oops, is it the CEO leaving or is it a trend that people may be realizing those companies for what hey are.
The thought that I was the only one who got those letters was a mistake. What letters check out This Year’s Spin from Our Taxing Times.
“A lot of people are really struggling with rising costs and shrinking pay checks. If you’re one of the people caught up in that struggle, here are the Top 10 Questions That Will Transform Your Finances.”
401k Roll-Overs and Conversion To Roth Accounts May Soon be Permitted if this is something your wanting then this is a read for you.
You already know the importance of tracking your budget, But what if your spouse doesn’t understand these things? Then check out How to Get Your Spouse On Your Financial Team.
Another look at midyear tax moves
“Yep, when it comes to tax planning, there’s no such thing as too much!”
The Cost of Inattention think about it, it has be done right the first time, yes?
I was really unsure if I wanted to start out with this or end with this so as you can see it ended up somewhere in-between. There is a great post about this blog over at The Tax University Blog. If you want another opinion or your trying to convince someone to read this blog please read IRS Tax Help Blog from Missouri “TaxGuy” Offers Resources for Tax Preparation and Personal Finances. It really is a great read. Thanks for the great post Michael.
A few more great reads from there.
- Business Tax Relief Tips: Correctly Classify Your Employees to Avoid IRS Tax Problems and Penalties
- Taxpayers Get What They Pay for When It Comes to Tax Relief Firms
And for even more The Tax University Blog has been added to the blog roll.
National Taxpayer Advocate Nina E. Olson released a report to Congress that identifies the issues the Taxpayer Advocate Service will focus on for Fiscal Year 2011. Here’s the highlight reel from the IRS Hitman National Taxpayer Advocate Mid-Year Report to Congress.
For more on the report please see NEW REPORT FROM THE NATIONAL TAXPAYER ADVOCATE from the Wondering Tax Pro.
IRS Goes High Tech For Recruits – The IRS has more than 100,000 full-time and seasonal employees across the country. It’s a number that may continue to grow as audits and collections matters increase. You can check out the IRS’ jobs website at www.jobs.irs.gov.
So, how much should we save? The Prudent Habit of Saving is a good post if this is a thought of yours.
Preparing for the Future: A Risk-Management Checklist is an interesting read from GetRichSlowly
I found this on my surfing and it has nothing to do much about taxes but it is great Mastery and the Average Factory Worker “I cannot think of one problem that can’t be solved by this solution: “Work more hours than the average factory worker.””
The Effect of Baby Boomer Retirements on the Stock Market is a good read from fivecentnickel.com.
Some Thoughts on DINKs (Dual Income, No Kids) from the simple dollar. Is a must read.
4 Changes To Make In This New Economy This is a new blog from my end of the world called Money Crashers.
“Early tax-advantaged saving coupled with the benefits of compounding make investing in a 529 plan a smart financial move.” Andy explains in his post How to Choose a 529 Plan And Save Now For Future College Costs – Prepaid vs. College Tax Savings Plan.
Congratulations to Joe over at Café tax. This is a great post So Why Are Babies Called a Tax Deduction. Where did you get that great baby picture?
The IRS Wants To Turn Your Independent Contractor Into An Employee is a post from the blog over at Diane Kennedy’s US Tax Aide blog. Another new place for me. There are some great post over there. Like:
- Little Known Trick to Turn a 50% Meal Deduction Into 100% Deduction
- When Is Your Travel a Tax Deduction?
- Just Cause The Feds Say So, Doesn’t Mean Your State Will Let You
And my two favorites so far:
In case you missed it, I have added Diane Kennedy’s US Tax Aide blog to my tax blog roll.
Flabbergasted Reputable Tax Service Company acting like an A-Hole is great, comment spammers beware.
Also, Staci has been running an interesting series “This is a multi-part series about a girl enticed into the indentured life of a door-to-door seller of magazine subscriptions. Her recount of industry practices and the resulting tax consequence is truly shocking.”
- Part One – How The Nightmare Started,
- Part Two – Life on the Road With Nick
- Part Three – Sex Drugs and Taxes – Nonexistent Commissions and Other Revelations
This is great, 10 Commandments [??] for CPA Practice and I’d have to guess Humorous.
7 stupid retirement myths exposed
I have often wondered the whereas and or the why-fors when a company picks a name well wisebread has posted How 16 Great Companies Picked Their Unique Names. Very interesting. And to think, I just used what I do and the letters of some of my children.
11 Reasons Your SMB Still Needs A Web Site I have run across this and it is a great post a must read if your small business is considering a website or not.
In closing this weeks reads, I want to throw out there to you my next thought in the blogging world. It has come to my attention that there are a lot of QuickBooks users out there. I have a client who is as smart as any business owner comes. He is very good at what he does, yet when it comes to accounting and QuickBooks he has issues like anyone else. I have been dealing with his One companies issues for a while now and have deemed from it that although there are hundreds of sites out there talking about QuickBooks I am considering my own.
The question I have for my readers, should I make it is going to be a blog, Should I make it a part of this site or should I just start another?
I have heard clients say that the best help they have found has been with video so they can follow along. Mine won’t have video, but rest assured there will be lots of pictures – and it will be starting with 2010 Version Not for Mac.
Please email and let me know what you think.
Reads From Last Week
Last week I wrote two post that weren’t exactly about taxes. In them I mention taxes, but Each one isn’t “about” taxes. In my post The Company Balance Sheet I talk about what is in a balance sheet. Thursday I posted Mistakes made in QuickBooks. In this I talk about things I get tired of seeing when I go out and help clients with their QuickBooks bookkeeping. Simple mistakes, that can ultimately, can and will affect the survival of a small business. If you’re a business owner all prejudice aside I say you should read them both.
Today’s taxes aren’t too bad –Kay Bell writes, “when compared to where tax rates have been over the years, we’re in pretty good shape” I agree. She also continues her mid year tax tips with
- Midyear tax tip #1: Welcome summer with energy-related tax breaks
- Midyear tax tip #2: Plan health care account moves
- Midyear tax tip #3: Adjust withholding – This is my entry
- Midyear tax tip #4: Evaluate your estimated tax situation
- Midyear tax tip #5: Pay attention to your portfolio
- Midyear tax tip #6: Credit for day camp costs – Thanks for the calendar by the way.
- Midyear tax tip #7: Contribute to your retirement accounts
- Midyear tax tip #8: Get charitable
- Midyear tax tip #9: Bunch your deductions
- Midyear tax tip #10: Get organized
And everyone seems to be writing about it but, here it is in easy to understand words Homebuyer tax credit extended; closing date deadline is now Sept. 30. Also from Kay:
A little humor about the oil spill/leak – BP Spills Coffee
My friend The Wondering Tax Pro re-reveals his thought on the new rules pertaining to the mandate for all prepares to e-file. In his post WORDS FROM THE WISE, he shares comments from friends and colleagues’ and his points as well. I can assure all, his efforts on how he proceeds will be of great interest to myself.
In His Saturday BUZZ Robert writes:
* The IRS wants to hear from you, or so they say in “IRS Requests Public Input on Expanded Information Reporting Requirement”.
The Service is soliciting “public comment on how to most effectively carry out a law change that, starting in 2012, will require businesses to report a wider range of payments to contractors, vendors and others, usually on Form 1099. These comments will help the IRS issue guidance that implements this provision in a manner that minimizes burden and avoids duplicate reporting.”
If you plan to give the IRS a piece of your mind please be gentle. Remember, the IRS does not make up this nonsense – the cafones in Congress do!
Musings on artisan bakers and tax preparers is more on this from fellow blogger Mary O’Keeffe over at Bed buffaloes in your tax code . She is great. Unfortunately however the Free Fillable Forms option isn’t as good as it sounds as she continues with I withdraw my suggestion of Free Fillable Forms! If you have ever wondered about free filing your forms read this first.
Friday Mary Wrote Do US Presidents efile their tax returns? Not only is the information thought provoking, but it has a link that will take you to site where you can see the returns of past presidents. It also mentions another return that H & R fail at. A great article in all. So you know this follows the ever growing movement concerning mandatory e-filing for tax preparers.
My friend also writes about home ownership in THE AMERICAN DREAM? Damn, he has a good idea.
I sincerely believe that all high school students (or perhaps starting earlier) should be required to take a full-year course of study in financial stewardship (which would include a chapter or two on income tax).
If you only read one link from this list, make it THE AMERICAN DREAM?.
Waiting on a refund from your state? Roni Deutch tells on “7 States that Still Owe their Citizens Refunds” Sadly I have been dealing with this as I have clients in two if the seven.
Jim Maule write the Blog MauledAgain. He has these post that I think are great reads so go read these.
If you receive a notice from the IRS. The IRS Hitman has some great advise in his post Watch our for IRS Notices. One of the best things to do when you receive an IRS Notice in the mail is to contact a Tax Professional immediately. Here’s what you need to know before your submit an Offer in Compromise to the IRS. More Harsh Truths on Settling Tax Debt
I really liked the math in Joes post 600 million becomes 100 million; 75 jobs becomes 25
The other post from JK that I really liked was If you remodel by starting over, you need to move back in. To get the whole just of this make sure you read the whole thing.
Kelly Phillips Writes Are Middle class increases on the way over at WalletPop
Tans are taxable today – Alrighty then. A 10% tax on indoor tanning services.
The providers will have to pay the tax via quarterly filings on Form 720. The IRS has posted “Nine Tips on the 10 Percent Tax on Tanning Services” This Started July 1rst, 2010. Oh man, can you believe it? – Nine Tips on the 10 Percent Tax on Tanning Services
New CBO Report Shows Rich Paying More than Fair Share – interesting article from the Tax Policy blog, kind of goes on with premise that today’s taxes aren’t so bad.
Presidents, the Tax Burden and Corruption – Explaining Economic Growth I originally found this over at the Tax Prof blog titled Raising Taxes Leads to More Economic Growth and Private Investment. Wow what a theory.
Last week I didn’t get any PF blogs in as I wrote that post in a hurry. One that still holds in my mind though is from Kevin over at No Debt Plan. His post Is a Housing Shortage Headed Our Way? Is an interesting read.
My friend Penelope over at Pecuniarities, re posted her article Put Your Brain Where Your Money Is: Think to Save. This is a well to know lesson and one that I feel is in need more than ever. People need to think. (And not just about money.) Week before last she also posted The Frugal Literate’s Guide to Affordable Reading. I love to read. Thanks Penelope, I learned a few things I think I’ll teach my children.
Handling Debt Collection Calls and Stopping Creditor Harassment by Knowing Your Rights, is a great article, filled with exact advise. A guest post over at Saving to Invest.
Essential Personal Finance Tips For Women in 2010 has some scary statistics, but also holds a valuable read.
Personal Finance Advanced Tips For Young Adults Parents, a must read then have you children read it. Other great reads from A Personal Finance Guide:
- Open a Bank Account Online the Easy Way
- How to Really Save Money For These Modern Times
- The New Limits to Bill Collection
Classic Debate: Should You Pay Off Your Mortgage or Invest That Extra Money? If you thought or think about this read this post.
Cash Money Life has a few great post that are good reads:
- Factors That Affect Mortgage Interest Rates
- How Easy is it to Get Scammed by Online Loan Companies?
- Mortgage Prequalification vs. Preapproval
- How New Overdraft Rules will Affect You
Realizing the Cost is a thought provoking post if you are considering a new pet or children. And if you like that then be sure to read Involuntary Simplicity.
For those of you who are persistent and plan to buy that house, How Much Can I Afford For A House? A Checklist Is a good read.
Importance Of Knowing About Tax Tips And Benefits
According to the Washington Post “Money Can Buy One Form of Happiness, Massive Global Study Concludes”.
P.S. There seems to have been an addition over at Alltop in the tax section, but it isn’t us, not yet. If you’d like to have The Missouri taxguy added to their “magizne rack” please let them know.
Also I have added The Missouri taxguy over to (over at) Alexa a Web Information site. If you’d like please add a review of The Missouri taxguy.
Thank you and have a great Fourth.
Reads from last week?
Well I have actually sat down and done this for a long time. I hope I can maintain the regularity that one would expect.
I’d like to start with a friend of mine. One truly and almost whole hardily responsible for guiding me into the world of blogging. (Did I use the word “Whole” correctly?) We have communicated over the past few years via email and blog post getting to know each other. Next month is the Annual NATP conference in Austin TX, where we had hoped to meet in person once and for along with several others. I say “hoped”, because I am unable to make it. Anyway. . . .
THE WONDERING TAX PRO has two posts that are must-reads. As a taxpayer, this is a topic you should be following. Closely. DEAR COMMISSIONER SHULMAN & SHOULD TAX PREPARERS BE REQUIRED TO FILE THEIR CLIENTS’ RETURNS ELECTRONICALLY?
On the same subject, Trish McIntire of Our Taxing Times has this to say Preparer Registration – Surprise!
Midyear tax tip #1: Welcome summer with energy-related tax breaks
Midyear tax tip #2: Plan health care account moves
Midyear tax tip #3: Adjust withholding – This is my entry
Midyear tax tip #4: Evaluate your estimated tax situation
Midyear tax tip #5: Pay attention to your portfolio
Kelly the internets TAXGIRL writes Congress Fiddles While We Burn: No Movement on Tax Bill, it is a look into HR 4213 or the Tax Extenders Bill. She also brings us news about the Senators Talk Tax Hikes on the Hill. A post that should be read.
James Maule from Mauled Again has two great post, FICA, Medicare, and Payroll Taxes and Internal Revenue Code: Small Change, New Feature, New Look. Both are great reads at least I thought so and feel you should read them. Knowing what’s going on helps, you plan.
Anyway . . .
- Audits Reveal Thousands Wrongfully Received Homebuyer’s Tax Credit,
- Former Company Controller Sentenced to 36 Months in prison for Tax Evasion,
- Top Quality Standards for a Tax Resolution Company
- Today’s tax burden much lower than 30 years ago
- 5 things you can do now to get ready for huge tax hikes in 2011
People management: What managers can learn from The Beatles
For those of you following the saga, I have joined the ranks over at The Daily Reviewer “Top 100 Blogs”. The Missouri Taxguy is on the second page of the tax section and the third row from the bottom in the Money section. You’ll be able to veiw many great blogs. So be sure to check out your favorite topics at The Daily Reviewer .
Ten days ago, I posted that I had submitted this blog to Alltop for inclusion to their listing. As it is truly a grow site I gave it awhile (ten days), but alas I haven’t made it to their newsstand of blogs. I was there once before but as my blogging tapered off and mostly stopped for a while, I was removed. Now upon my return, new web address and all, the Alltop site has grown wonderfully. Yet my submission has yet to be accepted.
Below is a list of the blogging sites I wish to join in the tax section over at Alltop. All of them are great resources I hope you all will use and enjoy.
Tax-News.Com Live Tax Headlines
Tax Policy Center: The Numbers
IRS Tax Problem Solver Blog – IRS Help
If you’d like to see me back on the shelf at Alltop, please contact them and let them know.
Reads from Last Week. . . .
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.
Reads from Last week. . .
Hello all,
Well the new PC change over is going a lot smoother than I had anticipated. A few issues that I’ll explain later in this post for those who are interested.
A Small Town and A Diabolical Marketing Strategy that Sucked Me in. I love it when the stereo types are smashed. This small town obviously had a big city idea. . .
Worker, Homeownership, and Business Assistance Act of 2009. THE WHABAA is wonderfully explained in this post by my blogging friend. At least those parts of the act that affect what is important, The 1040. So for a great look at how this might affect your return this is a must read.
How to Pay Less Taxes is just what it says. A short guide that will give you the ideas you need, to ask your tax professional if different things will work for your situation. This guide holds answers to the questions What is Tax Planning?, and Why Plan Now? This post also will explain a three step way to start planning. And wait it also has 8 Great Practical Tax Planning Tips, eFile Top Tax Savings Suggestions, Some legal Tax Loopholes, and a real biggy that most people really need to read – some expenses which you may NOT be allowed to deduct. Just incase you thought this wasn’t enough, the post also holds some very good links to other tax issues that you can use to help your planning.
Okay, yes, this is a very short list, I was really backed up this past week and with the new PC install and transferring of things I don’t have much. I will highly recommend the BUZZ post written by Robert over at The Wondering Tax Pro. He regularly post two a week, this past week one on Wednesday and one on Saturday. They are both full of great reads from other bloggers.
Before I go into news about the PC change over, I’d like to announce something new coming this week. I recently posted that I was looking for others to help me get information out to you. I think I have found a Personal Finance blogger to start posting here. She is new to the blogging world but has some fantastic insight into the world of personal finance. She is hoping to get two posts out by Wednesday this week so please check back regularly, to see her début insights.
Her writings won’t be so regular, so the invitation is still out, If you are a tax enthusiast or a practiced personal finance person who wants to write about it, please contact me and I will set you up with the ability to write away, no editor, no set schedule, write when it suits you about the things you want.
All post written by you will be credited to you, and editable by you. If you’re an avid blogger and are looking for another venue, you are welcome. If you are a stay at home person and know a lot about PF or taxes and have an idea for a post then you are welcome. If you wish to remain anonymous, I can accommodate that as well. On line, I’ll set you up with a pseudonym. One of/to your liking/s.
Okay a few Rules:
post are not venues for attacks on others,
post must have something to do with Personal Finances/financing or taxes (state or federal)
Post will be deleted if posted on a Sunday after my regular post. (Meaning, if you want to post on Sunday do it before 7am or after midnight Sunday. As I want my Reads from last week to be on top all day Sunday.)
What do I get out of it? My blog gets more articles and coverage.
What do you get out of it? Well, rudely enough, what you put into it. A place to write, without the bother of hosting a site.
Please if you are interested, let me know, all are welcome.
The New PC:
The PC here in my office is undergoing a changeover. My older PC (all of four years) has served me well, but time and a great amount of use it is noticeably getting tired (and out dated). So with that in mind, and the new Window operating system, a new one is now here. All files of great importance have been moved and secured to the new.
Have had a few issues like files from tax software not wanting to move and my having to do some tech guy stuff to get things all moved where they go, but things are progressing. It is all actually going, thankfully, faster than I had anticipated. I hope to be at 100% operational by 12/01/2009, just in time for the tax season.
Claim tokin for Technorati 7TPQH22CZJ7P
Reads from last week. . .
Well the week didn’t end well for me with my finding out that I had lost my last grandparent. I was trying to figure out how to best remember her. Happily I found away. My heart and mind will keep her memory for all time.
She introduced me to Snoopy back when Snoopy and Charlie Brown first started about. My first memory of Charlie Brown and Snoopy was/ a stuffed animal that I still have. The first book/s I remember ever having where Charlie Brown’s Super Book of Questions and Answers and Charlie Brown’s Second Super Book of Questions and Answers. As I was looking for links to these two books I found that there are actually several. At the least five, along with others. I can’t speak for any of them but the first two and they are awesome.
So before I get into some blogs that I managed to get down, here is a little bit of what I call Snoopy Music:
enjoy
From a blog I have never seen before called outright comes the post Understanding Form 1099 Information Return Requirements. Those of you who use this form please read this.
From Joe K. up in Iowa, as he points out and I agree, “Most preparer injuctions permanently put the preparer out of business.” However this wasn’t the case in” Humbloldt preparer hit with permanent injunction.
My friend over at Living almost Large writes about The referral discount. This is something I actually do in my practice. I give clients a discount for referrals, with a set limit up to a free return. You’d have to see my page at my Biz site. I call it a credit coupon.
SO WHAT DO YOU THINK – A NATIONAL SALES TAX? This is something I have thought about and read about. The concept is sound enough but lacks discipline. The “underground economy” as you put it would only thrive in a situation like this. To keep that going it would seem to this tax preparer that crime would escalate, thus causing insurance rates to sore, in turn causing the cost of goods to sore out of control.
People spend their paychecks before they get them is a proportional way of survival. Doesn’t make it a good thing or a bad thing, it is just a way of life for some. So using this as a means to “teach” our neighbors to save and invest is a lot like a story I read written by George Orwell titled 1984. Frankly if that happens, I’d find myself in the situation of Winston Smith.
Over all the idea is a sound one but, in this world I find it to be unrealistic. Namely, look at all the people who would become unemployed, No IRS. . . Then there is the problem of what would our politicians do, if there was a tax so simple as this?
Kay brings us two must reads this week. “Lost in all the hoopla about the just-extended first-time home buyer tax credit is the fact that the clock is ticking down on another stimulus-created tax break.” Please check out the Road ending for auto deduction.
“Living on one income can be a scary thought; particularly if it is not something you choose to do but is forced upon you due to the loss of a job or other life event. Even if it is totally planned, it can be a discouraging thought that a portion of your household income (even if it is not a large portion) will soon not be coming in to help pay the bills” Living On One Income- Tips for Going From Two Incomes to One is a post that could help you work through this.
Myths Of Owning A Small Business is a story from Forbes.com. In it you will find a great many truths about the myths. My favorite Myth: You can set your own schedule. I do this but my hours aren’t by any means bankers or better. I may start late and be out of the office earlier than some would like but I actually am working untill 2am and this past week or so I have been up until three am. So if your planning a biz, please find the truths about some of the myths.
Maybe next year… a tax hope we have all been looking for.
It is that time of year, at least around here. Have you prepared your holiday budget? If not here are some tips you need to follow: How To Set Your Christmas Budget.
With that time of year many over spend. To help your finances, avoid overdraft fees by setting up overdraft protection on your accounts. Simple Personal Financial gives us, Simple Personal Financial Tips – Avoid Overdraft Fees. I had some trouble getting to the site but it is worth it to get there.
In the above mentioned post I found a link to another post that everyone should have a look at. Signs you may need to simplify your personal finances is a list, basically “. . . signs, signs everywhere the signs, can’t you read the signs.” Check it out.
And in closing, there is a lot going on about the AMT, as it gets closer to all who fall into “the middle class. If you want to know what is going on there is a lot out there about it. I even plan to write some on in for the coming week, (some history and some, what now). Until my post are up, or before you go searching the net, I’d suggest reading this: Beware the complicated and costly AMT.
P.S. Bloggers and non-bloggers.
At the bottom of my blog there is a section For authors to login. How do you become an author here? Easy, Please keep reading.
I would like to invite others, who wish to write from time to time or even regularly, on Personal finance issues and/or tax issue to please join me here.
So what do you do? If you are truly interested in being a co-author here at The Missouri taxguy” you’ll need to contact me via my contact page. No special rules or guidelines here, I just need to know how to reach you. Once I can confirm a way to reach you and confirm you are you. I will set you up as an author.
All post written by you will be credited to you, and editable by you. If you’re an avid blogger and are looking for another venue, you are welcome. If you are a stay at home person and know a lot about PF or taxes and have an idea for a post then you are welcome. If you wish to remain anonymous, I can accommodate that as well. On line, I’ll set you up with a pseudonym. One of/to your liking/s.
Rules:
post are not venues for attacks on others,
post must have something to do with Personal Finances/financing or taxes (state or federal)
Post will be deleted if posted on a Sunday after my regular post. (Meaning, if you want to post on Sunday do it before 7am or after midnight Sunday. As I want my Reads from last week to be on top all day Sunday.)
What do I get out of it? My blog gets more articles and coverage.
What do you get out of it? Well , rudely enough, what you put into it. A place to write without the bother of hosting a site.
Please if you are interested, let me know, all are welcome.
Reads from Last Week. . .
Well, I have been having computer problems and not doing the things I’d normally be doing. Then When I finally did get back online, A friend of mine asked me about this post. He knew I’d meant to get it out this morning and was checking to see if I had changed my mind.
For those of you new to my new site, and those who have been regulars from the start, “Reads from Last Week” formally known as “Passing the week” is where I bring to you all my reading and searching for information you should have, or some just plain good reads. “Reads from Last Week” is going to be my regular postings of blogs (and their links) that I read and felt a need to pass on to you. Or like I said, just some plain good reads.
I meant to do many things this weekend but with the PC down I found I was unable to get it all done. The biggest thing was to get my blog roll up here. My way of making it easier for you to find what you need without having to wait on me to fill you in on Sunday. I will get my blog roll up this week, or so is my plan. So, in that regard, I hope you’ll all be tolerant of my slowness. I will do my best to get it up here, with some new additions.
With that, let us start with whose new out here. (Or new to my regular blog reads.)
Starting with Monica Lawver who writes The Tax CPA. As she puts it, “In general, my writing has been sadly lacking of late, due to an unexplained lack of ideas.” But don’t let this fool you, she is right on. When she does post, she gets it. She is a great tax blogger and CPA. You can also find her at Confessions of a CPA on facebook. 
Somebody new is Stacie Clifford Kitts, CPA. She writes Stacie’s More Tax Tips (A blog about – Duh – Income Tax) Self-employed, her home office is in California. Where she keeps her husband up late typing out her blog late at night. I had the great pleasure of meeting her and her husband during a trip they took. We shared only about an hour and a half over lunch. If you can imagine, we talked about tax blogging almost the whole time. (See picture of us) She has lots of great post. I have not listed any here today as for today I am just making introductions.
Now for the usual suspects:
Taxgirl writes 2010 Not Likely to Be All That Different From 2009. Just in case you were wondering about how things are shaping up, this will give you the look into it. . . other reads from her you should check out: Driver Kidnaps Tax Officials to Avoid Paying Tax, IRS Targets Wealthy for Enforcement, and My Anniversary.
Tax Law Forum a blog written by Rob Teuber Writes The Best Tax Advice Ever. This is his best, pointing you to his regular article in the Wisconsin Law Journal.
My blogging mentor and friend writes IT’S THAT TIME OF YEAR AGAIN! And he is correct, “It’s “That Time of Year Again” – time to do your year-end tax planning.” I try and get mailers out to my clients this time of year but don’t always get them out to everyone. Now a days I may follow the lead and use the internet to do all I need it to do. Read this even if your tax professional send you your planning tools.
If you have ever wondered Where does he get all those wonderful views a must read is WHAT ABOUT BOB? Beautiful my friend.
The is a lot going on with the Homebuyers credit. I am pointing you towards Tick Marks who links to others views. “Fool Us Once, Shame on You; Fool Us Twice…” (ican’t get the link I want, so this one tales you to Tick Marks, the post was up on October 30th)
Some great post over at Taxable Talk. One of real interest to me as a I wonder “whose thinking in the White House” sorta way Do Businesses Base Decisions on Taxes? Also a must read is The Responsibilities of a 
Tax Preparer. This leads to a great two part post from another blogger, and continues the discussion.
Not just Anyone can be a partner is an eye opener from my friend Joe Kristan
The IRS Hitman writes IRS Tax Debt: How to Pay the IRS with Easy Monthly Payments. He also has an interesting video. The IRS Hitman Video “I discuss my motivation for leaving the IRS and joining the good guys.” If the chance ever comes about, I will definitely take him to lunch.
One of my Favorite tax bloggers, isn’t a preparer but a writer. Kay bell who write the blog Don’t Mess With Taxes has a great look at the Tax cheat crackdown, at home & abroad. Please read.
P.S. Kay where are you getting all your wonderful pictures. I really like the blue in the photo on your post, Reconfigured home buyer tax credit.
Excuse me, back to work here, PLEASE read Get ready for increased audits.
From A Personal Finance Guide, as tax season approaches there is a few things to think about first. One big one is Wise Spending Tips This Christmas, also see Don’t Go Into Deeper Debt This Holiday Season. Guess I am not the only one thinking about the big guy in the red suit.
From CashMoneyLife, 2009 Year End Tax Moves, all things we need to know, this is a part of Tax Planning” Is a great piece. Do You Know How Much Interest You Are Paying Each Month? I wonder how many of us actually know the answer to this. Is better if I don’t know how many, I have enough “fun” keeping up with my own. As always Patrick, excellent.
Living almost Large makes you really think with Are 401k a mistake? Also, have you ever asked “Does it suck to live within your means?” find the answer in the post Living within your means? If this is you stop it, stop living outside your means. And for sure stop living paycheck to paycheck. Think! Everyone just think, common sense goes a long way. Your money won’t.
MoneyCrush is sorta’ a new site. Okay it is a new site, but the owner isn’t new to blogging. Formerly Blunt money owner switched to new site. Is a great new look and still a great read.
From MoneysavingGuide.com something we all think about When is a Great Deal Not Worth It? Use the check list. And if you missed it, Money Saving Guide Makes Debut on ABC News Now.
Ever wonder how? Well here are 5 Steps to Closing Old Bank Accounts. This comes to us from Kevin over at No Dept Plan.
More friends of mine from the big Ca. comes a great collection in the Carnival of Pecuniary Delights No. 24: Friends Edition. I really like the friends clips. Please go and check this out. (Ever wonder what I might be like, well according to a Facebook application I am the character Chandler Bing. “OMG!”)
My friend Andy over at Saving to Inve$t has a number of need to rtead post. Please read them all. Tell him Bruce sent you.
- No Increase, but Congress to Extend $8000 First-time Home Buyer Tax Credit into 2010 and Make Available to More Home Buyers and Owners
- Retirement 401k and IRA Accounts – Have You Rebalanced and Reallocated based on Changing Market Conditions and Contribution Limits?
- 10 Deadly Mistakes Buyers Make When Purchasing a Home and How to Avoid Them
From a local friend (one who I should really take out to lunch or something) and blogger, we learn that Social Security COLA Could Be 0% For Next Few Years. Yesterday she posted Reverse Mortgages – What Should You and Your Parents Know Before Applying? This is a must look if you are thinking along those lines.
Lastly but for surely not least my friend Chad and his wife, owners of Bordeaux & Bordeaux CPAs in their blog Chad writes Roth IRA Conversion Rules Changing – Have You Reviewed Your Tax Plan – Part V, I recommend this along with parts one through four. And this one.
And there you have my list of readable post from those around the “sphere”. If you are a blogger or an
avid reader of lots of different blogs please point my towards those that you like. If possible I will get it here so that all can see. 
As for future “Reads from Last Week…” I will try and get those out on Sunday, so you can read them after you morning paper read and coffee.
photo credit: Brenda Hervold
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