Fox News: Warning of Perils of Sunny Beaches, Liberal Asians, and Progressive Income Tax

Ah, sandy shores, blue water, and…liberals?? Well, doesn’t sound like a bad vacation spot to me, but our friends over at Fox News made the trip to the startling, new liberal bastion of America: Hawaii. No relaxing here. Oh, there was so much investigative journalism to be done! Interviews to be conducted! They even managed to find one conservative willing to speak to them who wasn’t their standard rich old dude.… [Read more]

Peering over the “fiscal cliff” without vertigo

So now, in Federal Follies, we have the looming breakers denoting the “fiscal cliff”, which The Party of No tried to steer a campaign with to naught. This isn’t exactly Preikestolen, a picturesque, actual cliff, 604 meters (1,800 ft.) over a fjord. In Norway.

In a recent San Francisco Bay exercise of American Exceptionalism, billionaire Oracle software honcho Larry Ellison was several million bucks lighter after his latest multi-hull America’s Cup racing yacht flipped and tried turning into a submarine.… [Read more]

Mitt’s Kamikaze Flight School

If I were a G.O.P. professional political operative, I would be chugging the Jack Daniels’ bottle in perfect John Belushi ‘Animal House’ Bluto frat form. Political science textbooks will be written with ‘Romney’ becoming synonymous with ‘bumbling campaign skills’ in the same way as ‘Quisling’ became interchangeable with ‘traitor’ in Oslo.

Gordon Gekko meets Thurston Howell III in magic underwear.… [Read more]

Say it Isn’t So, Clint!

I guess I’m the last person in the world to find out that Clint Eastwood is no hero. He only plays one in the movies. He’s a great actor and a director, but not a good judge of politicians.

While it’s been widely known that Clint is a Republican, his recent publicized comments on Gay Marriage gave me the idea he was still a pretty nice guy.… [Read more]

Five Tax Tips for the Unemployed

With just over 8% of the American work force currently unemployed, with no projected change in the next year and a half, I thought it might be a good time to review the tax implications of unemployment.

  1. Yes, you do have to claim unemployment benefits as taxable income.  You should receive a 1099-G form which will show the total amount of unemployment benefits received at the end of the year.  
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Wrap Up: July 15, 2012

We began this week discussing accountability; we were focused on international issues — Pakistan, specifically — but, once again, the nutty GOP — Mitt Romney, specifically — diverted our attention…Oh goodie! Since we’re all about putting the truth out there, we’re glad to see that even the mainstream media is catching on to the notion that the most phony candidate this side of Mars doesn’t want to be held accountable for where he worked and/or where his loot money is stashed.… [Read more]

Debt Decisions

So, you’ve set an intention to get yourself out of debt. Noble, my friend. Studies have shown that the average American has over $10,000 in debt, most of which is credit-card debt. Yikes. But then you’re staring at your pile of bills, or your Mint.com account, and wondering — where do I start? Which debt do I tackle first?… [Read more]

The REAL Defense of Marriage Act—Income Taxes and the “Marriage Penalty”

For all the talk about defending marriage as a sacred institution between one man and one woman in the news these days, no one seems to be talking about the third party involved in every marriage in this country… the Internal Revenue Service. Yes, the marriage penalty is alive and well in the United States of America, and it seems ironic that some are so focused on preserving the sanctity of marriage, only to tax the holy hell out of you when you do it.… [Read more]

Quarterly Taxes—Who, When, and Why?

I get questions fairly frequently about quarterly taxes.  Who is required to file them?  And why?  Since the second quarter filing is coming up and I’m busy helping my clients get these done, I’ll make this short and sweet.

In general, if you either owed more than $1,000 last year in taxes, or expect to owe more than $1,000 this year, you are required to file quarterlies.… [Read more]

The Reagan Rule

In one breath, they scream, “Class warfare! Class warfare!” In the next, “It’s statistically insignificant!” Well, which is it? They can’t have it both ways. The they to which I refer, is the ever-duplicitous and incessantly histrionic Republican Party. The it, is the Buffett Rule. If it is truly insignificant, then how can it be considered class warfare?… [Read more]