The Tax Preparation Blog

Posts Tagged ‘finance’

Question: Which produce higher tax revenues for the Federal Government; Bush tax CUTS or Obama tax HIKES?

Bush Tax cuts of 2001 and 2003

http://www.usgovernmentrevenue.com/#usgs…

http://data.bls.gov/PDQ/servlet/SurveyOu…

RESULTS:
INCOME TAX REVENUE BY YEAR: ( In Billions)
2003 = 925
2004 = 998
2005 = 1,206
2006 = 1,398
2007 = 1,534

WOW.. Now isn’t that Interesting.. How could revenue go UP, when taxes go DOWN ????

ANSWER:

Unemployment rates during same period: ( Going DOWN each year)
2003 = 5.7 to 6.3 %
2004 = 5.4 to 5.7 %
2005 = 4.8 to 5.4%
2006 = 4.4 to 4.8%

Because President Bush CREATED JOBS, that INCREASED the TAX BASE

And he did it with TAX CUTS !!!!!

Answer: OH man the Libs are going to be mad at you! How dare you use facts and history!

Those who do no learn from history are destined to repeat it!

BRIEFLY: April 9

Read about what’s happening in and around Plymouth.

Rich People Don’t Pay Taxes?

Question: Why do Republicans keep thinking that they’ll pay more taxes under Obama’s plan?

Why do Republicans keep saying that Obama is going to raise everyone’s taxes? According to the Tax Policy Institute, Obama’s plan would cut taxes for 80% of households. Another 10% would see no change in their taxes from today. And the wealthiest 10% would see an increase in their taxes. Furthermore, Obama’s plan would save middle-income families more than with McCain’s.

Here’s a chart from the Washington Post comparing Obama’s plan with McCain’s:

http://www.washingtonpost.com/wp-dyn/content/story/2008/06/09/ST2008060900950.html

Obama has said that he will repeal the Bush tax cuts for people making over $250,000/yr. For middle-income families, Obama has pledged that you will not see any increase in your taxes, not your income tax, not your payroll tax, not your capital gains tax, not any of your taxes. Barack Obama has pledged as such in his recent speech in Dover, NH (go to time 1:05 in the video):

Answer: Because they will. Despite the rhetoric on his economic page, growing gov’t with the programs he proposes have to be paid somehow and he aint gonna find it in a tree.

Euro Falls; Trichet Says Rate Increase Today Not First of Series

The euro fell from its highest level in more than a year after European Central Bank President Jean- Claude Trichet said today’s interest-rate increase wasn’t the “first of a series” and Portugal sought a bailout.

Closeup1 2008 | Apu | Ek Paye Nupur Tomar

Question: What is the best website to learn how to prepare your own Income Tax In Canada?

Is there some good websites out there to help with Canadian income tax preparation?

Answer: Yes, the CRA tutorial is excellent. Thank you for trying to learn.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/lrn-tx/menu-eng.html

TurboTax Premier Federal + E-file + State 2011 for PC [Download] $65.14 TurboTax Premier: Extra guidance for investments & rental property income…

TurboTax Deluxe 2002 $39.95 For most users, TurboTax Deluxe 2002 will make April 15 just another day. This incarnation of the most popular tax-preparation title is as streamlined and simple as before, and its integration with Quicken is better than ever. Intuit has striven to make the software easy to use even for those with an aversion to both tax forms and computers. The wizard-based system guides users through each step w…

Estate & Trust Administration For Dummies $8.93 Executing an estate or a trust fund is a big responsibility. Estate & Trust Administration For Dummies contains advice for handling estates and trusts of any size. It offers solid pointers on reading and interpreting a will and other documents, and helping heirs avoid paying too much (or too little). It also shows you how to take care of a loved one’s estate in the event that a will or trust was …

Inter Pipeline Fund Announces April 2011 Cash Distribution

CALGARY, ALBERTA–(Marketwire – April 6, 2011) – Inter Pipeline Fund (“Inter Pipeline”) (TSX:IPL.UN) announced today the declaration of a cash distribution of $0.08 per unit for April 2011. This distribution will be paid on or about May 16 th , 2011 to unitholders of record on April 25 th , 2011.

Pay No Income Tax & Claim ALL withheld back

Newport Partners Income Fund Announces 2010 Annual and Fourth Quarter Financial Results

TORONTO, ONTARIO– – Newport Partners Income Fund today announced its results for the three months and year ended December 31, 2010.

Tax Tips: Earned Income Tax Credit 2011

Question: AUCTION SITES!!! australia?

I have seen lots of posts on forums lately talking about the debate of
Ebay vs’ Other Australian Auction sites.
So i thought i would ask the question in here so i can get a response from some people who have decided to use another australian Auction Site.
Now, from what i have read Ebay Australia takes around 200 million dollars out of this country EVERY year, all into a swiss bank account with no GST or INCOME tax paid.
So do u think it is worth supporting the Australian Auction Sites and maybe getting less sales but giving the aussie sites a chance to build up so ebay is no longer a monopoly in this country ?
Do you think ebay should even be in Australia???
Do you think it is right that they take so much out of the country every year without contributing to the society they are taking all the money from???
well please let me know your thoughts guys

Answer: It is very altruistic to rally around local sites, and to keep the money within your own economy. However, for the housewife who just wants to quickly and securely get top dollar for reselling her too-small sweater, the big international site like ebay is a very tempting remedy. It is true that you must act locally to impact globally, but a hard sell to the masses. Good luck to you in this worthy endeavor.

Why Declining House Values Could Spark The Next Taxpayer Rebellion

You might think property taxes have declined 30%, paralleling declines in housing values. But nope–property tax revenues have shot up 27% just since 2006.

Samuel A. DiPiazza, Jr. on economic nationalism