Pilots are heroes, but not tax exempt

Pilots are heroes, but not tax exempt
If it were up to me, I’d file the case relating to TC Memo 2012-232 as “one I’d watch on Judge Judy.” Maybe “Tax Court” could be a new hit daytime TV show. Here’s the outline for episode one: —— An airline pilot strides into the room, clad in full uniform. He smiles and waves ...

Could Romney have paid no taxes?

Could Romney have paid no taxes?
I think the current battle between Harry Reid and Mitt Romney kinda funny, since it’s two people from vastly different sides of the political spectrum from a church which most label as a Republican hotbed (I’m blaming Utah for that perception). Anyway, Reid, claims one of those ubiquitous “people who know” informed him Romney paid ...

IRS Audits Don’t Mean Much

IRS Audits Don’t Mean Much
Since I both write about and do* taxes, I get inundated with news related to tax updates every day (I have about 100 relevant items today in my RSS feed). I glance through them, looking for an interesting tidbit, but rarely spend more than a couple seconds on each unless something interesting jumps out. I ...

Churches and Bankruptcy

Churches and Bankruptcy
Separation of Church and State is one of those sticky issues that has been lingering around since the day Adam first told his teenage children they had to obey because “he said so.” Take the recent ruling 2012-2 U.S.T.C. ¶50,487, a fun tax dispute showing we’ve yet to figure this whole thing out. Go Tell ...

California Tax Rant

California Tax Rant
Dear California, I hope by now you are at least beginning to realize you’ve screwed up your tax system. I really shouldn’t care, since I haven’t called you home for nearly ten years now, but my family lives there, and I still have to deal with your infernal tax returns. First of all, your actual ...

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 ...

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 ...

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 ...