Mark Luscombe
Mark Luscombe
complex
What's really complex about it is you're going to have to do allocations you've never had to do before.
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.
file filing money paid return tax worth
You don't have a filing requirement because you don't have a tax due. But if you had withholding, you've paid tax. It's worth your while to file a return to get your money back.
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.
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.
consistent cuts wanting
He's been pretty consistent in wanting to make the cuts permanent.
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.
areas disaster help hurricane people
People who don't live in presidential-declared disaster areas get help, but not the most help or the quickest. Those in declared disaster areas but not in the Hurricane Katrina-Rita-Wilma areas get more help quicker, while those in the Katrina-Rita-Wilma disaster areas get most.
rate sure
Generally, the unemployment rate is pretty low. I'm not sure they do at this point.
means taxes
For taxpayers, it means doing your taxes twice.
affected babies baby boomers cry hue maybe quite
I can't tell you why there hasn't been a hue and cry about this. Maybe it's just because the baby boomers aren't quite old enough to be affected by it yet.
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.
self sign tax
No self-respecting tax practitioner would sign on to any of these.
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.