Mark Luscombe
Mark Luscombe
code fact gotten simplicity spite talk tax
In spite of all the talk about simplicity, in fact the tax code has gotten more complicated every year.
exclusive office wrinkles
There are a lot of little wrinkles as to how exclusive the use of the office has to be.
afford candidates helped hope ideal initial pay savings tax
Ideal candidates would be those who can afford to pay a little more now with the hope of long-term savings down the road, helped out a little by the tax savings on the initial investment.
advantage bush cuts people tax
Because of the AMT, some people are not able to take advantage of the tax cuts that Bush made available.
basket check church collection drop fail generally good goodwill inventory keeping people track
People are generally pretty good at keeping track of things they write a check for but they're a little sloppier with the $5 they put in the collection basket at church or give to the organization on the street. A lot of people also fail to keep track of non-cash donations. They drop things off at Goodwill without making an inventory of what they gave.
consistent cuts wanting
He's been pretty consistent in wanting to make the cuts permanent.
complex
What's really complex about it is you're going to have to do allocations you've never had to do before.
avoid benefits bracket december either higher large moving security social splitting taking tax taxed
By splitting up a large distribution and taking part in December and part in January, you may avoid moving to a higher tax bracket in either year, and keep more of your Social Security benefits from being taxed as well.
rate sure
Generally, the unemployment rate is pretty low. I'm not sure they do at this point.
afford compared involved loss passive pay people rules stuff tax
Compared to some other tax issues, like passive loss rules and stuff like that, it's not all that complicated, but people involved in things like passive loss rules can usually afford to pay for some sophisticated help.
automatic extension file increasing length save smart soon taxpayers time
Increasing the length of the automatic extension will save taxpayers some time and trouble, but it's still smart to file as soon as you can.
added days displaced per
Individuals who put up a displaced person at their residence for at least 60 consecutive days can get an added exemption of $500 per person.
april becomes extension file habit information particular people reason regularly sort together
Once they file for an extension one year, it sort of becomes a habit. I know people who do it regularly who don't have any particular reason they couldn't have had their information together by April 15.
congress extend failed increase intend
Congress failed to extend the exemption increase into 2006. I think they still intend to do that, just retroactively.