Senator Upset About Roth IRA Back Door

Senator Upset About Roth IRA Back Door
Just this Friday I was discussing what I believed to be a screw up by Washington bureaucrats in allowing a back door method to get around Roth IRA income limitation, only to discover that at least one angry senator is standing in the rear entrance, yelling to barricade the loophole before an undead army of upper ...

Back Door Roth IRA Contributions Make Limitations Pointless

Back Door Roth IRA Contributions Make Limitations Pointless
My last post discussed all the legal jargon that our wonderful Congressional leaders stuck into the tax code to make calculating how much you can actually contribute to a Roth IRA as difficult as possible. To summarize, if you’re making somewhere between $110k and $200k a year, you may not be able to contribute directly to ...

Roth IRA Contribution Limits Designed to Screw With You

Roth IRA Contribution Limits Designed to Screw With You
Hey everyone, I’m still alive. Okay, with that brief acknowledgement out of the way, let’s move onto something serious: Roth IRA Contribution Limits. I know this is serious because I heard some guy complaining about it the other day while eating at the delicious SNOWLAB, which can only be eaten while talking about serious topics ...

Best Day Of The Year: 2015 Excel Tax Returns Released

Best Day Of The Year: 2015 Excel Tax Returns Released
Thanksgiving is nice and all, and Christmas is great for the kids, but we know what the real best day of the year is: the day we can finally do our tax returns in Excel. I know, I know, it’s not quite perfection with the IRS not accepting the returns in that format (the Luddite swine ...

Does Mark Zuckerberg Not Recognize A Tax Benefit From His Initiative?

Does Mark Zuckerberg Not Recognize A Tax Benefit From His Initiative?
With Mark Zuckerberg following Bill Gates’ lead by donating mountains of cash to humanitarian efforts, we’re entering a new era of The Gospel of Wealth, though with slightly less condescension than found in Andrew Carnegie’s famous essay. Good for them. If you want to use your money to help your fellow beings, more power to you. ...

The Top Tax Rate is Higher Than You Think

The Top Tax Rate is Higher Than You Think
I heard a story. The person was trying to figure out a tax question for a friend of a friend, so I don’t know any actual details, and, like a good game of Telephone, what I did hear was probably altered beyond recognition (oh, you sell plants and seeds, not sex and weed!). Even though ...

Unlimited PTO Only Works If You Get Time Off

Unlimited PTO Only Works If You Get Time Off
Every time I see Grant Thornton trying a new, earth shattering initiative, I curl in a ball under my desk, fighting off the flood of memories threatening to break down the thin wall between sanity and madness. The latest foolhardy attempt by Grant Thornton to fight their way into the Big 4 is by offering Unlimited PTO. I’m sure ...

The Real Issue With the Trump Tax Plan

The Real Issue With the Trump Tax Plan
When Donald Trump first revealed his tax plan, I saw two immediate responses from the Twitterverse: (a) The Trump tax plan is designed to tax the rich, and (b) the Trump tax plan is the typical right wing trickle down economics. (Sidebar: NOBODY is advocating trickle down economics, but that’s neither here nor there) Since this is ...

Uber, Independent Contractors, and Hillary Clinton

Uber, Independent Contractors, and Hillary Clinton
For those regular readers out there, I apologize for the long gap between posts. I had some personal matters to attend to, and have had a hard time getting back into the groove. But what better way to kick start the new stream of tax euphoria than to talk about independent contractors, a classification that ...

Rand Paul Tax Plan Version 2.0: “Blow It Up”

Rand Paul Tax Plan Version 2.0:
Rand Paul is trying something new. His EZ Tax Plan, which was short on specifics and always doomed to fail, has now morphed into something much more unique: The Fair and Flat Tax. I have to give Rand Paul credit here. Whether or not you like the plan he offers, he at least offers specifics, unlike any ...