Tuesday, June 25, 2013
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’ - TUESDAY EDITION
* THE TAX PROFESSIONAL, my other tax blog, is back! I suggest that all tax professionals who are reading this, as well as regular taxpayers, check out my new post "Continuation of a Discussion on the Currently Dead IRS RTRP”.
And return to THE TAX PROFESSIONAL on Wednesday (tomorrow) for “My Final Word on CPA vs EA or RTRP“.
* Did you know “The Energy Credit is Still Here For 2013”? I explain at MAINSTREET.COM.
* As the “tweet” promoting Steve Repak’s piece “Top 3 Tips for Getting Personal Finance Advice on Social Media” at EQUIFAX.COM correctly states – “Just because someone has a social media account claiming to be a financial expert, doesn’t mean they are.”
The same can be said for someone with a blog.
* Guess what – “Surprise! Your Social Security is Taxable”!
Trish McIntire provides a good review of income tax issues involving Social Security benefits at ANSWERS.COM, most of which I have previously discussed here at TWTP.
* Jack O Nutter of MARKET WATCH thinks “Tax Reform Plans Should be Put on the Table - Commentary: What is taking so long?”
Jack proves to be a good nail head hitter when he says -
“The tax code is a mess and littered with a bunch of garbage and ineffective narrow provisions. It is an unwieldy product of an entrenched political system. I do not know how anyone can defend it.
The fundamental role of a tax system should be to raise sufficient revenue to fund the legitimate and democratically agreed upon government functions. Unfortunately, that is not the case for our system. It is about picking winners and losers, rewarding friends and trying to punish enemies. It has become a philosophic opportunity to shape government, society and direct individual conduct. The country can do better.”
Right on, brother!
* TAX MAMA Eva Rosenberg asks “Do You Qualify for the Adoption Tax Credit?” – and proceeds to explain the credit in detail at EQUIFAX.
To be honest, in my 40+ years “in the business” I have never claimed this credit on a 1040.