Can you use these tricks to lower your taxes to $0?
While you are trying to figure out why you are paying
income, SS, Medicare, UC, DI, etc taxes, you might find some of the techniques
that companies use to pay NOTHING: http://www.usatoday.com/story/money/business/2013/10/23/big-companies-pay-no-taxes/2480281/
If you can’t, perhaps you should send your Congress persons $123,000 so you can
get access to discuss how they can help you avoid paying taxes like the big
guys. It worked for these companies, why not you?
And the nice thing is that now you don’t have to worry about
breaking the law for bribing an
official. The Supremes have just decided that when fat cats give legislators
money, they don’t expect anything in return. WOW! Roberts, the chief justice,
said:
“Spending large sums
of money in connection with elections, but not in connection with an effort to
control the exercise of an officeholder’s official duties, does not give rise to quid pro quo corruption. Nor does the
possibility that an individual who spends large sums may garner “influence over
or access to” elected officials or political parties.”
http://www.supremecourt.gov/opinions/13pdf/12-536_e1pf.pdf RIGHT and what does Roberts smoke??
People’s Trust is canceling thousands of policies, abruptly
cutting ties with many customers in Palm Beach
County South Florida less than 90 days after they
signed up. People's Trust Insurance Co. is calling it "prudent
exposure management," though it is infuriating customers who are losing
coverage so close to hurricane season. One Palm Beach
Gardens
Insurers raise prices on non shoppers
Consumer groups called upon regulators to stop insurance
companies from using so-called “price optimization” techniques when setting
rates and premiums. Price optimization is a data mining tool used by insurers
to charge higher premiums to those consumers
least likely to shop for a new policy in the face of a rate increase. The
groups noted, in a letter sent to commissioners on March 28, 2014 , that insurance companies appear
to be using these techniques without disclosing that fact to state regulators.
“Price optimization is a new strategy to overcharge Americans who have to buy
auto and home insurance policies,” said Bob Hunter, CFA’s Director of Insurance
and former Texas Insurance Commissioner. Smart shoppers use discounts
every two years: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634/
CA regulators fighting health policy increases
Leading companies have poured $13.4 million into defeating a
ballot initiative that would give California
regulators the power to reject increases in health policy premiums. Health
insurers stand to lose control over raising rates in the most populous state at
a time of dramatic growth in the customer base. More than 1.2 million people
have enrolled in private health insurance plans under Obamacare through
the end of March, according to Covered California, the state’s
health- insurance exchange. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/
Koch brothers take ObamaCare subsidies while paying for
repeal!?/
Several big corporations have reaped millions of dollars
from "Obamacare" even as they support GOP candidates who
vow to repeal the law. Among the corporations is a familiar Democratic
nemesis, Koch Industries, the
giant conglomerate headed by the billionaire brothers Charles and David
Koch. They and some conservative allies are spending millions of dollars to
hammer Democratic senators in North Carolina ,
Alaska , Colorado ,
Iowa and elsewhere, chiefly
for backing President Barack Obama's health care overhaul. Records
show that Koch Industries received $1.4 million in early
retiree subsidies. United Parcel Service received $37
million Union Pacific Railroad received $9.7 million in
subsidies. Altria (Marlboro) received nearly $11 million in
the early retiree subsidies. One of the biggest subsidy recipients was
AT&T, at $213 million. They spent $54 million of it supporting
opposition to ObamaCare. Hypocrites or what?
IRA contributions stop at age 70.5—Roth IRA contributions
can become legacy
You must be under age 70½ at the end of the tax year to
contribute to a traditional IRA. You, and/or your spouse if you file a joint
return, must have taxable compensation, such as wages, salaries, commissions,
tips, bonuses, or net income from self-employment. Taxable alimony
and separate maintenance payments received by an individual are treated as
compensation for IRA purposes.
You do not have to be under age 70½ to contribute to a Roth
IRA however. This means that you may continue to build a tax-FREE legacy for
your family when you no longer need your IRA income for expenses. Just pay the
tax due on the IRA and move it to your Roth. Heirs will receive the
accumulations with no income taxes due—just like life insurance.
Question your broker about ‘disclosure events’ in their
record
Meyers Associates, a small New York
broker-dealer with five times the industry average of registered reps with
marks, or 'disclosure
events' on their record. These are red flags of lack of candor. Check NOW: http://brokercheck.finra.org/Search/Search.aspx
Believe it or not, Bernie Madoff’s phony monthly trading
reports listed trades on days the market was closed, or at prices that were far
off the market, or in volumes that simply never existed. Yet Madoff’s scam
continued for 36 years, from 1972 until 2008, as the SEC was incapable of
discovering the truth, and Madoff’s clients never read their phoney monthly
statements, since through bull and bear markets Madoff always turned in profits
that were not real: http://www.amazon.com/Nothing-Way-Seems-Wall-Street/dp/1492752916
Employers still
shifting health benefit costs to workers
The number of health
plans with out-of-pocket limits of more than $5,000 increased to 32% last
year, up from 20% in 2012, as more employers continued to shift costs to
employees, according to a report by Zywave. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/
States Challenging
Wealthy Taxpayers Who Claim FL Residency
In many cases, these
states are going after residents they think should still be paying their taxes.
And the states are winning. One snow bird kept travel logs but they showed that
he was not in Florida for the requisite six months and a day, his home state court found.
The fact that he held on to a 10,600-square-foot home he'd built in Afton,
Minn., used a Minnesota bank account, and kept three out of his four
cars in the state, were among the signs the court pointed to when it said he
didn't prove he really became a Florida resident.
This snow bird said
it has cost him thousands in back taxes, interest and legal fees. "It's
been horrible for my wife and me," he said. "I wouldn't wish
this on anyone." Florida ranks first in the nation for individual income tax; sixth for
unemployment insurance tax, 13th for corporate tax; 16th for property tax and
18th for sales tax. Overall, it ranks fifth as the best state to live and do
business from a tax standpoint, the foundation found, after Wyoming , South Dakota , Nevada and Alaska . The heaviest tax burdens are generally in
northern states, including New York , New Jersey Rhode Island , Vermont and Connecticut , and Maryland , as well as some Midwestern ones like Minnesota and Wisconsin . A better alternative is the Roth
IRA—Tax-FREE of fed and state income tax. This can lower your overall tax
burden since SS benefits are also taxed for higher income couples. Use the tax
code benefits to live tax-FREE: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976/
You only get one IRA
rollover a year—not one per account
Tax court decided a
taxpayer can perform only one tax-free "rollover" of an individual
retirement account each year — regardless of how many IRAs they may have. This
differs greatly from the widespread perception that a taxpayer can roll over as
many IRAs as they want, and that the one-year cooling-off period applied to
each individual fund. You may be better asking Vanguard licensed staff to help
you keep track of your pensions, brokerage, ETFs, regular IRAs and Roth IRAs.
Buffett suggested Vanguard for his trustee: http://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592
More market manipulations
Joseph Dondero, a co-owner of Visionary Trading LLC,
repeatedly used a fake order strategy to induce other market participants to
trade in a stock, the SEC says. Lightspeed Trading LLC is charged with aiding
and abetting the registration violations and its former chief operating
officer, Andrew Actman, is charged with failing to supervise one of the
Visionary owners. Fake orders create illusion of demand for a stock. Trading
only helps the sellers. Invest without commissions: http://www.amazon.com/your-Wall-Street-Stock-traders/dp/1490533273/
GM SUVs got the
highest rating in crash tests
The Chevrolet
Equinox and GMC Terrain, both made by General Motors, received the highest
"good" rating from the Insurance Institute for Highway Safety. The
Toyota Highlander got the second-best "acceptable" rating in tests of
2014 models.
But the Jeep Grand
Cherokee, Toyota 4Runner and Ford Explorer got
"marginal" ratings, while the Kia Sorento, Mazda CX-9 and Honda Pilot
all were rated "poor."
SCAMS Why are
we still paying $700 Billion a year
for WWII deployments?
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
and 50,000 in 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 just can’t afford to pay for everyone else’s defenses
anymore.
DoD head Hagel
proposes budget cut but still pay for Lockheed F35 plane failures.
Lobbyists using Washington
trick to deceive us
Obama ex-staff hired to lobby for Canada
pipeline are claiming they are not lobbyists but “policy advisors.” “The influence industry is moving underground,”
says Sarah Bryner, research director of the Center for Responsive Politics. The
group counts 46 former Obama
officials who have registered with the federal government as lobbyists. An additional
86 are what it calls “unlobbyists,” who use their connections in
Congress and the White House to press for changes in laws and federal policy
but who aren’t registered. “We still have many people leaving government and taking
jobs that in the past would have resulted in them registering,” Bryner says.
Now they are “skirting the disclosure requirements.”
We (Medicare) paid one eye doctor $21 million in 2012
Medicare paid a tiny group of doctors $3
million or more apiece in 2012. One got nearly $21 million. Topping Medicare's list
was Florida ophthalmologist Salomon
Melgen, whose relationship with Sen. Robert Menendez, D-N.J., made
headlines last year after news broke that the lawmaker used the doctor's
personal jet for trips to the Dominican Republic . Medicare paid
Melgen $20.8 million. About 1 in 4 of the top-paid doctors — 87 of them —
practice in Florida , a state
known both for high Medicare spending and widespread
fraud. Menendez has received more than $700,000 in direct and indirect
campaign help from Melgen. Agents from the FBI and federal Department of Health
and Human Services raided his West Palm Beach
office in 2013 and hauled away dozens of boxes of materials.
Buyout firms cheating investors
More than half of about 400 private-equity firms that SEC
staff has examined have charged unjustified
fees and expenses without notifying investors, according to a person with
knowledge of the SEC’s findings who asked not to be named because the results
aren’t public. While some of the problems appear to have resulted from error,
some may have been deliberate, the person said. Find out how they do it: http://people.hofstra.edu/daniel_j_greenwood/pdf/Looting.pdf
IAN
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