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Irrational Numbers

I don’t think this will affect any of our clients

August 28, 2009

The Swiss banking giant UBS has agreed to turn over the names of 4,450 American clients suspected of tax evasion in the US. Switzerland has always had strong bank secrecy laws and has therefore been an attractive option for individuals seeking to hide income. According to the IRS the 4,450 accounts held over $18 billion [...]

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This is why you need good monthly Financial Reports

August 25, 2009

A simple quiz for smart marketers: Let’s say your goal is to reduce gasoline consumption. And let’s say there are only two kinds of cars in the world. Half of them are Suburbans that get 10 miles to the gallon and half are Priuses that get 50. If we assume that all the cars drive [...]

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So…what exactly are “Qualified pet expenses”

August 23, 2009

Rep. Thaddeus McCotter (R-MI) has introduced H.R. 3501, the “Humanity and Pets Partnered Through the Years” (HAPPY) Act, which would allow taxpayers to deduct up to $3,500 per year in pet expenses from their federal taxes. Ruh ro! As an organization that put a sad-looking puppy on its newsletter recently, we can’t very well criticize [...]

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Just when you think nobody cares…..

July 9, 2009

Here’s a great short power point forwarded to me from one of my Padgett Brothers…..see it through to the end, it’s worth it.

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Terrible Towels over Afghanistan

January 29, 2009
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Everytime I hear a business owner tell me how disorganized their paperwork is, I think of this scene:

October 31, 2008

In my experience with Small Business Owners, I have seen some pretty messy finances. And many times a Small Business Owner will tell me “Oh, no…you haven’t seen anything this bad.” It always reminds me of this scene from Blade Runner (sans the “time to die” part):

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The credit crisis as Antarctic expedition

October 24, 2008
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Crisis? What Crisis?

October 21, 2008

People have been asking me about the “Financial Crisis” recently. What I have found is that Good Business Ownership trumps tough economic conditions. Business Owners who were struggling before are struggling now. Business Owners that were making money before are making money now. A Small Business Owners investments are largely on Main Street, not Wall [...]

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Bartering — is it worth the trouble

October 20, 2008

Recently Beth posted the following question on the FAQ’s page: Hi Jim, I have belonged to a bartering organization for some time. The fees are being raised, and since my business is growing, I am rethinking my need for a bartering group. Jim, can you tell me the pros and cons on taxes for bartering? [...]

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Small Business Owners are Artists

August 21, 2008

Making money is art and working is art and good business is the best art. —-Andy Warhol

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No Comment

August 17, 2008

A trucking and earthwork business operator has been accused of allegedly threatening to shoot two Internal Revenue Service officers. Click Here to see the article in it’s natural habitat

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What Happens When You Tax the Rich? Evidence from Executive Compensation

August 11, 2008

Huh? This paper reexamines the responsiveness of taxable income to changes in in marginal tax rates using detailed compensation data on several thousand corporate executives from 1991 to 1995. The data confirm that the higher marginal rates of 1993 led to a significant decline in taxable income. This small group of executives can account for [...]

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Who’s the “weenie” here?

August 11, 2008

This article says it all. But, I think it is funny (and Embarrassing for Congress) that Congress is blaming the IRS. The IRS has no choice but to enforce the laws that Congress passes. I don’t think that there is a person in the IRS that actually thinks the antiquated regulations regarding the cell phone [...]

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Who is being high-handed here?

August 4, 2008

In March, agents served the orig­inal summons, calling Wesson to testify and produce certain books, records, papers and data account­ing for his taxes dating back to 2003. Instead, Wesson demanded a cer­tified copy of an IRS agent’s oath and a copy of the agent’s photo ID, according to court documents. Click Here to see the [...]

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Will the 1040 Be 3 Pages Next Year?

July 26, 2008

This from the Tax Policy Blog over at the Tax Foundation website: Once again, the United States Congress is making the tax code worse. Not that it should surprise any of the readers of this blog. Members of Congress, however stupid their policies may be, just want to appear as if they are doing something [...]

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