Archive for October, 2009
Question: ACORN: Is this enough to get you mad at them? Can you now see it’s evils?
James O’Keefe and Hannah Giles posed as a pimp and a hooker. They used a hidden camera to catch the employees at ACORN’s Baltimore office giving them advice on how to set up a prostitution ring using underage girls from El Salvador — and how to cheat the IRS.
If that’s not enough!!! :ACORN turns in Fla. workers on voter fraud charges
Haha, Barrack won by a lie.
Uh-oh, looks like Rose Bud might be getting the picture here.
John, I don’t watch TV. NOTHING good comes from it anymore.
Just the sheer admission of denying clicking these links works for me, shows me you realize deep down that you’re in for a world of hurt.
Answer: It probably won’t be enough! Here are some reasons why.
1. Only Fox news reported it with the video!
2. Liberals don’t watch Fox News.
3.Usa Today reported only that Acorn fired the 2 workers.
4. Alot of liberals agree with it.
5.They don’t listen to the truth when it stares them in the face.
Did you hear also that Acorn reported that they fired the 2, because
they weren’t the norm for acorn employees. I wonder what they will say, when today there is another Video of the one at Wash. DC?
And probably more to come. Good question though!
Health industry members air their concerns
Members of the industry met Thursday with Rep. Henry Cuellar and Carmen Irwin, a health insurance specialist with the Centers for Medicare and Medicaid Services (CMS).
Question: Traditional IRA to Roth IRA recharacterization.?
I contributed 4000 to my traditional IRA (T-IRA) in oct 2007 for 2007 and then 5000 again for 2008. Now I want to recharacterize my 2007 contribution which is 4000 to Roth IRA.
I follow the IRS 590 publication I am unable to decide what will be my account opening balance and what would be my account closing balance.
Since I have made 2008 contribution of 5000, I am not sure how to find the earnings for my 2007 contribution of 4000. Can anyone help?
I have called my IRA manager byt they have asked me to calculate the earning, thats why I have posted it here.
i know the formula earnings= contribution x(account closing balance – account opening balance )/account opening balance
this works great if I did not put the 5000 for 2008. Now my problem is I have earnings from my 2008 contributions also
Answer: Couldn’t you just break this math problem down into multiple pieces and then total the results?
1. You contributed $4K in Oct 2007.
2. The balance immediately prior to (i.e., the day before) your $5K contribution in 2008 would be totally allocated to the $4K contribution, right? What is that amount?
3. Next add that total amount to your $5K contribution. What percent of the total is that prior amount? (i.e., what is the ratio?)
4. Any gains that you received from that point on, you should pro-rate (by that ratio) between your original $4K contribution and your final $5K contribution.
5. Add those pro-rated gains (allocatable to the $4K contribution) to #2 above. That should give you the total amount associated with your initial $4K contribution.
“Any problem can be made simple if you break it into small enough pieces.”
New Roth retirement account options for 2010
When deciding whether to save for retirement using a traditional or Roth IRA, many people wrestle with the question, “When I retire, will my tax rate be higher or lower than it is today?”
dylan burns as michael jackson
Question: Any law firms hiring attorney …?
in kansas city – estate planning, tax and /or family practice?
Answer: This may not be the best place for an answer. Check Yahoo jobs, they often have a number of legal listings.
Commission’s decision could set statewide precedent
When Leavenworth city commissioners decided to support their previous decision to remove Shay Baker as mayor during the middle of her one-year term, they stumbled upon a situation that has not yet been challenged in Kansas courts. Do you think Shay Baker should still consider herself mayor of Leavenworth? ( polls )
Tax Attorney Jobs New York
Question: Tax-exempty status – Examples of Package 1023?
I am in the process of forming a non profit in NC. Since I was able to view completed Articles of Inc. on the NC Secretary of State site I was wondering if there is a website where I could view the paperwork (1023, 990, etc) involved in the 501(c)3 process.
I am interested in viewing completed applications. Assuming that a tax-exempt organization is open to scrutiny, because of its status, I would think that one would be able to view these forms in their entirety, as opposed to instructions and blank forms provided by irs.gov.
Past incorrect answers have been:
See Application for Exemption
explanation of requirements:
IRS Publication 557 “”Tax Exempt Status for Your Organization”
These are blank not completed forms.
Answer: Public disclosure FAQ from the IRS: http://www.irs.gov/charities/article/0,,id=96430,00.html
Ordering copies on CD/DVD from the IRS: http://www.irs.gov/charities/article/0,,id=150268,00.html Note that the (significant) costs here are waived for requests from the media as well as from other governmental agencies.
You can also subscribe to GuideStar.org though their website: http://www.guidestar.org/services/ds.jsp?gclid=CISf2aXDr40CFQIpFQodyR280A It’s not free, but it’s cheaper than buying the DVDs from the IRS.
Turner, Jones top SMU salary lists
June Jones, left, and R. Gerald Turner, right, are the highest paid employees at SMU with total compensations more than $1 million.
Internal Revenue Service (IRS) Form 990 – Are You Ready?
Question: Do I get in trouble for over-reporting my income on tax returns? Or just under reporting?
I’m self-employed. If I don’t take all my deductions, in order to make my net look higher than it would be otherwise, does the IRS care? After all, they’d be making more money right?
In other words, are deductions optional?
Also, what if I accidentally put a larger gross than I actually made? Won’t an audit reveal I’m due a refund?
Answer: You could get in trouble , if caught, if you did it in order to commit fraud. Two possibilities come to mind: Exaggerating your income to increase earned income credit (defrauding the government), or exaggerating your income to qualify for a loan (defrauding the bank).
Tax Tips: The joys (and woes) of self employment
As the economy continues to stumble along with uncertainty, many are starting to look at the self-employment option as the way to get ahead.
Tips for Filing Taxes : How to Appeal an IRS Audit