The rich have rigged the state tax systems too
New study says that "virtually every state's tax system is fundamentally unfair, taking a much
greater share of income from low- and middle-income families than from wealthy
families." It added that state and local tax systems are "indirectly
contributing to growing income inequality by taxing low- and middle-income
households at significantly higher rates than wealthy taxpayers."
In other words, it said the poor paying more and the rich paying
less. Overall, the poorest 20 percent of Americans paid an average of 10.9
percent of their income in state and local taxes and the middle 20 percent of
Americans paid 9.4 percent. The top 1 percent, meanwhile, pay only 5.4 percent
of their income to state and local taxes.
States
where taxes hit the poor hardest: WA, FL, TX, SD
It’s time we used the IRS code to benefit us: http://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441
Get Tax Refund in two weeks! File taxes for free using easy
online efile screens
IRS announced that taxpayers can begin preparing their
returns using the Free File system on Friday, Jan. 16. Available only at
IRS.gov, Free File offers two filing options:
• Brand-name software, offered by IRS’ commercial
partners to about 100 million individuals and families with incomes of $60,000
or less; or
• Online fillable forms, the electronic version of IRS
paper forms available to taxpayers at all income levels and especially useful
to people comfortable with filling out their own returns. E-file, when combined
with direct deposit, is the fastest way
to get a refund. It costs nothing for those who choose Free File.
Your refund can make you a millionaire: http://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X
Walmart gives cash for tax refund approval
Using its in-store tax preparers, the store
will give you the cash as soon as you are notified that the IRS has
approved your refund—2-3 weeks. Walmart is hoping you will spend the refund in
their stores. They may not charge for this convenience but there will be a
charge for tax prep. Wal-Mart’s plan is in direct competition to commercial
preparers that offer checks as loans against your refund. Check-cashing outlets
then offer cash for another fee. This is a very expensive way to force yourself
to save. Easier way: http://www.amazon.com/Wealth-Builders-Tool-Kit-wasting/dp/1449913059
GOP Crazies
Boehner sent out tweets to his followers with Taylor Swift
GIFs. Responses said:
I know @SpeakerBoehner
thinks the Taylor Swift GIF thing is funny, but it makes me feel like the republic is in serious trouble. Boehner
wants to remind the U.S. that the initiative would
cost "60 billion dollars over 10 years." Obama wants to
provide a free community college education to millions of students. At 6
billion a year, this is probably a better idea than spending $25 billion annually
maintaining unused or vacant federal properties.[3]. A child born into a poor family has only
a 9
percent chance of getting a college degree, but the odds are 54 percent for
a child in a high-income family.
Members of Congress have spent hundreds of thousands of
taxpayer dollars supplying their offices with popcorn machines, plasma
televisions, DVD equipment, ionic air fresheners, camcorders, and signature
machines -- plus $24,730 leasing a Lexus, $1,434 on a
digital camera, and $84,000 on personalized calendars.[21]
6 billion invested in the next generation of tax-paying
workers sounds good to me.
Romney blames Obama for inequality—“rich got richer” under
Obama?!
Romney will end that???
Mitt Romney stressed the need to sharply reduce poverty in America
Friday night during a speech to members of the Republican National Committee. “Under
President Obama, the rich have gotten richer, income inequality has gotten
worse and there are more people in poverty in American than ever before.”
This is the guy with an elevator
for his cars!?! He used to say he
does not worry about the 47% who pay no taxes—the poor. Which does he
believe?
Poll
says 59% want Romney, 50% want Bush, 29% Christie.
Jindal uses Fox slam on Muslims in Europe
GOP candidate Jindal tells London
audience that there are whole cities "where non-Muslims simply don't go
in," in particular the city of Birmingham
in the United Kingdom .
The idea
of "no-go zones" sparked controversy last week when a Fox “News”
commentator raised the prospect of areas in France, Britain, Sweden and Germany
where those countries' governments "don't exercise any sovereignty,"
and instead are run largely by Muslim immigrants.
Fox “News” now retracks their made-up story about Muslims.
GOP love affair with Putin over?
Almost-VP-Mrs Palin
and Mayor Giuliani
were applauding Putin in March 2014. Ben
Carson and Pat Buchanan love Putin’s dictatorship. Palin said: "People
are looking at Putin as one who wrestles bears and drills for oil. They look at
our president as one who wears mom jeans(?) and equivocates and bloviates.” Watch Rudy “Freedom
is about authority” comment as he praises Putin as the
embodiment of manly leadership. Now, Putin is pushing harder on Russia ’s
richest citizens to repatriate offshore assets amid a slump in the ruble and
the imposition of sanctions by the U.S.
and the European Union. Giuliani says
that Putin doesn't
waste time when he needs a decision: “that is what you call a leader”. True. Dictatorships
are more decisive for the dictator and friends.
DEM crazies
Obama wants to tax
the wealthy to pay for working family tax credits and education. He would increase
tax on their capital gains to the old Reagan levels. Romney on board? Biden is
now being shot at. U.S. Secret Service said Sunday that multiple gunshots were
fired from a vehicle near the Delaware
home of Vice President Joe Biden on Saturday night.
1% wealthy own 48% of all world
The wealthiest 1%
will soon own more than the rest of the world's population, according to a
study by anti-poverty charity Oxfam. The charity's research shows that the share
of the world's wealth owned by the richest 1% increased from 44% in 2009 to 48%
last year.
Are you in a state with declining middle class?
As the gap between rich and poor expands, there
are communities where wages are falling and lack of jobs is increasing even
as the national numbers improve. Do you move or change?
Fidelity caught overcharging clients
Regulators fined Fido $350,000 for overcharging more than
20,000 clients a total of $2.4 million from January 2006 to September 2013. Fidelity
inappropriately charged for certain transactions in fee-based accounts in its
Institutional Wealth Services group.
Avoid Wall Street charges that can take up to 63% of your
funds: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137
Do you get a tax credit for using ObamaCare?
If you received the benefit of advance credit payments, you
must file a federal tax return and reconcile the advance credit payments with
the actual premium tax credit you are eligible to claim on your return.
You will use IRS Form 8962,Premium Tax Credit to make this
comparison and to claim the credit. If your advance credit payments are in
excess of the amount of the premium tax credit you are eligible for, based on
your actual income, you must repay some or all of the excess when you file your
return, subject to certain caps.
If you purchased your coverage through the Health Insurance
Marketplace, you should receive Form 1095-A, Health Insurance Marketplace Statement
from your Marketplace. You should receive this form by early February.
Form 1095-A will provide the information you need to file
your taxes, including the name of your insurance company, dates of coverage,
amount of monthly insurance premiums for the plan you and other members of your
family enrolled in, amount of any advance payments of the premium tax credit
for the year, and other information needed need to compute the premium tax
credit.
Using tax preparation software is the best and simplest way
to file a complete and accurate tax return as it guides individuals and tax
preparers through the process and does all the math. Electronic filing options include IRS Free File for taxpayers who qualify, free volunteer assistance, commercial software, and professional assistance.
For more information about the Affordable Care Act and
filing your 2014 income tax return, visit IRS.gov/aca.
Instead of building your insurers' reserves, build
your own reserves
- Create
a tax-FREE Wealth Reserve.
- Accumulate
$1,000,000 with NO taxes--EVER.
- Use
the IRS tax code just as insurers do.
Most of us don't realize that we can self-insure ourselves.
We can save $3,000 every year on our financial services. We can use that $3,000
to build a tax-FREE fund to help protect us from losses. This fund, I call
a Wealth Reserve, can cover our deductibles and loss expenses. As
this fund grows, it becomes our loss reserve and eventually replaces life
insurance, long-term care insurance, and guaranteed annuities when we need
them. Most businesses 'Go Naked': they buy protection for large risks
only. They avoid coverage for smaller charges.
We build OUR reserves instead of our insurers' reserves and
Save.
Quote for the times
Good
Catholics don't have to breed "like rabbits," the pope said. Pope
Francis discussed contraception and family planning during a mid-flight press
conference on board the papal plane while flying home from a five-day
trip to the Philippines .
He has a plane?
What can we do about this? Why no safety switch?
A 9-month-old northwest Missouri
boy is dead after being accidentally shot in the head by his 5-year-old
brother. The 5-year-old found a loaded .22 caliber handgun and fired it.
Who owns your account now?
City National, the Los Angeles-based banker to the stars,
was sold to Royal Bank of Canada
SCAMS Why are
we still
paying $700 Billion a year for WWII
deployments? That is 27
cents of each dollar in taxes—the largest part of our money—and we aren’t
even at war. We could pay off our debts and fix our schools, roads and
bridges!
We are paying for 164,253 of our active-duty armed personnel
to be in 150 countries around the world. We have about 50,000 in Japan Germany
Are we preparing for WWII again? There are 1,208,083[1] armed
personnel in the United States .
Our taxes pay for about HALF of the WORLD’s military expenditures
every year. We have wasted $398.6 billion
so far on the F-35 program—they can’t
fly safely.
We just can’t afford to pay for everyone else’s defenses
anymore.
Japan, Germany and S.
Korea can pay for their own defenses.
The War on Terror requires SEALS’ attacks on top terrorists
at their homes. Iraq
proved converting a nation to Western-style republic doesn’t work.
Tax refund scams at tax time
Any one of these five things is a tell-tale sign of a scam.
The IRS will never:
- Call
to demand immediate payment, nor will the agency call about taxes owed without
first having mailed you a bill.
- Demand
that you pay taxes without giving you the opportunity to question or
appeal the amount they say you owe.
- Require
you to use a specific payment method for your taxes, such as a prepaid
debit card.
- Ask
for credit or debit card numbers over the phone.
- Threaten
to bring in local police or other law-enforcement groups to have you
arrested for not paying.
Report the incident to the TIGTA at 1-800-366-4484 or at www.tigta.gov.
Patriots cheated for what?
Deflating the balls is against the rules. Now more fans
think there will be an * asterisk after every win. Surely the Super bowl will
be marred in fans thinking. Referees touch every play but never said anything.
Little advantage but huge downside!
The Patriots are guilty of this, and they are guilty of
being one of the best
teams in football for the past 15 years.
IAN
41 Watchung Plaza, B242
973.746.2014
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