What’s Her Tax Rate Again?

What's Her Tax Rate Again?
My post last week calculated out what Warren Buffet’s secretary would have to make, in a worst case scenario, to have a 15% effective income tax rate. 15% has become a magic number since it’s what Buffet (approximately) pays, and, more recently a news item, it’s what Romney pays. Paul Gregory of Forbes magazine decided ...

Some thoughts on Romney’s taxes

Some thoughts on Romney's taxes
Much hoopla has been made and probably will continue to be made about Romney’s recently released tax return. Strong opinions, informed and otherwise, litter the web. Of course someone is always wrong on the internet, but let’s chat a little. I’m not here to say whether his return is right or wrong, either technically (I’ll ...

Thought on Charitable Contributions

Thought on Charitable Contributions
It’s that end of the year time where everyone is trying to get a bigger piece of your pocketbook. For those of you who want to give that money to a charitable organization, here are just a few quick tax tips. I’ve seen a little bit of confusion about them over the last couple of ...

Don’t Mess With Shulman

Don't Mess With Shulman
I guess IRS Commissioner Douggy Shulman wasn’t too happy with the proposed budget cuts to the IRS. He wrote his version of an angry letter to congress with the following: “cutting the IRS budget by the contemplated levels would mean that front-line IRS staffing levels must be substantially reduced, leading to a measurable decrease of ...

Falling Flat

Falling Flat
I’m sorry to tell any of you who were hoping for some change, but we will never have a flat tax system. Not a real one, at least, so just leave it alone. I’m talking about any kind of flat tax. Flat individual income tax. Flat corporate income tax. Herman Cain’s “9-9-9” plan. It’s just ...

We’ll Pay For It With Oil

We'll Pay For It With Oil
Once again we’re after the Oil & Gas Companies. Look, I’m not saying that I have any affinity for these top five gas companies that keep being targeted. Yes, my dad does own stock in Exxon, but that’s just because he worked there for a couple unenjoyable years. Really, these companies are just like any ...

Warren Buffet and I Make Taxes

Warren Buffet and I Make Taxes
Dear Mr. Buffet, First of all, did people call you “Warren” growing up? It just doesn’t sound like a very appropriate name for a little kid, and I can’t think of any nick names other than “Warney,” which is unlikely to catch on any time soon (like I mentioned in my last post, naming isn’t ...

But There’s no Sales Tax on Amazon

But There's no Sales Tax on Amazon
Sorry to break it to you, but you DO owe sales tax on your online purchases. Well, use tax, actually, but it’s basically the same thing. Amazon, however, doesn’t have to collect the tax, unlike your friendly 5 and Dime down the street (I’m actually not sure what a 5 and Dime is, but old ...

The Effective Rate Debate

I’ve been meaning to write an actual tax blog post for some time, just to try it out. I picked something fun and controversial. Hope you enjoy it. The debt ceiling debate has been about as ubiquitous as car insurance commercials over the past few weeks. Like all good political debates, we’ve had no shortage ...