Don't Mess With Taxes
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Tax cheat crackdown, at home & abroad
on Oct 29, 2009 in Global Tax crimes Tax evasion Tax haven Now is not a good time to be rich. Let me clarify that. It's not a good time to be rich and trying to hang onto to more of your money by hiding it from tax collectors. Federal tax investigators this week served subpoenas on wealthy New York-area resi...
Should rich homeowners get a bigger mortgage interest deduction?
on Oct 19, 2009 in Deductions IRS Real Estate I don't think so either. But that's what the IRS has decided. The IRS Office of Chief Counsel has sent agency staff a memo telling them that taxpayers can deduct interest on the first $1.1 million of a home mortgage. That's $100,000 more than before.
Oct. 15 tax deadlines looming
on Oct 13, 2009 in Filing Global IRS Retirement Taxes Yeah, you read that headline right. It's deadlines, plural. And yeah, I meant to post this reminder a bit sooner. But, hey! All y'all procrastinators know that you wouldn't have paid attention even a week ago! So quit trying to make me feel guilty! B...
Retirement, RMDs and racing
on Oct 11, 2009 in Books Economy Finances Investing IRS Motorsports Retirement The stock market has been creeping upwards, which is great news for folks like me, who are hoping one day to kick back and do exactly what we want, not what we have to do in order to pay bills. But there's still a lot of retirement planning work to b...
Obama's Nobel Prize tax implications
on Oct 9, 2009 in Celebrity Charity Politics Taxes Every time a prominent American gets a Nobel Prize, tax geeks scurry to examine the tax implications of the monetary reward. The exercise is particularly interesting this year since we have a sitting president winning the Nobel Peace Prize. In additi...
House OKs military home buyer credit
on Oct 9, 2009 in Credits Military Politics Real Estate Taxes The House yesterday unanimously approved extending the first-time home buyer tax credit for some members of the military. H.R. 3590, or the Service Members Home Ownership Tax Act of 2009 (blogged about in Housing tax topics roundup) would extend the...