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Tax & Business Services
John F Howes CPA
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July 4th, 2011 at 7:44 am
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June 26th, 2011 at 11:09 am
”We’re not going to let the middle class carry the whole burden.”
The key word here is “whole”. No way taxes are going up on the top 2% without dramatic increases on what is left of the middle class. And Biden’s use of “we” here is shameful. I am not a part of his “we”. Here is the link to the article with his quote. http://fb.me/13FioDKLZ
Image by Getty Images via @daylife
June 24th, 2011 at 9:22 am
Should Bono and Jagger pay up?
Interesting argument here about whether it is a legitimate practice to use tax avoidance techniques especially with regard to undermining your country’s tax revenues when the beneficiary of those tax savings are philanthropic causes.
Related articles
- Tax activists want U2′s Bono to ‘pay up’ (dontmesswithtaxes.typepad.com)
- Protesters Plan U2 ‘Tax Demo’ At Glastonbury (news.sky.com)
- Glastonbury 2011: U2 set will be hit by ‘tax dodge’ protest, vow campaigners (mirror.co.uk)
June 23rd, 2011 at 1:27 pm
IRS Announces Higher Standard Mileage Rate 2nd Half of 2011
IRS has revised upwards the standard mileage rates due to the higher gas prices Beginning this July 1st, the standard mileage rates will be 55.5 cents per mile for business travel and 23.5 cents per mile for medical travel. Charitable mileage rate always remains at 14 cents under statute. The rates for the first half of 2011 are 51 cents and 19 cents respectively. Keep in mind these rates are optional and the actual out-of-pocket costs can be used in lieu of the standard rates.
Announcement 2011-40 advises the public that the Internal Revenue Service is revising the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, or moving expense purposes and for determining the reimbursed amount of these expenses that is deemed substantiated. This modification results from recent increases in the price of fuel. The revised standard mileage rates are 55.5 cents per mile for business use of an automobile and 23.5 cents for use of an automobile as a medical or moving expense. The mileage rate for use of an automobile as a charitable contribution is fixed by statute and remains 14 cents. The revised standard mileage rates apply to deductible transportation expenses paid or incurred for business, medical, or moving expense purposes on or after July 1, 2011, and to mileage allowances that are paid both (1) to an employee on or after July 1, 2011, and (2) for transportation expenses an employee pays or incurs on or after July 1, 2011.
Related articles
- Business Use of Vehicles (turbotax.intuit.com)
- How Much To Reimburse Employees For Mileage (timesheets.com)
- Starting a Business (turbotax.intuit.com)
- Calculate Vehicle Costs with Ease for Your Tax Purposes (brighthub.com)
June 20th, 2011 at 7:42 am
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June 13th, 2011 at 7:43 am
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June 9th, 2011 at 12:48 pm
The richest dog in the world dies
Image via Wikipedia
The richest dog in the world dies. At least I think it is the richest dog in the world. Correct me if I am wrong. http://fb.me/107NhoCDW
Related articles
- One of the World’s Richest Dogs Is Dead [Rip] (gawker.com)
- The World’s Richest Dog Has Died – And These 5 Pooches Are Set To Take Over The Title (thenewspundit.com)
- Who Gets Trouble’s Fortune? World’s Richest Dog Dies (legallyeasy.rocketlawyer.com)
- R.I.P. Leona Helmsley’s Pampered Pooch – Trouble – Dies Of Natural Causes After Receiving Death Threats Over $12 Million Inheritance (bossip.com)
- Trouble, Beloved Dog Of Leona Helmsley, Has Died (newyork.cbslocal.com)
- Leona Helmsley’s $12 million pooch dies (nydailynews.com)
June 9th, 2011 at 11:48 am
Ho Hum. Business as usual.
Image via Wikipedia
Ho Hum. Business as usual. All they need is big lenders who are willing to risk going to the Federal government to get bailed out if their loans go bad.
Jackson Hewitt Tax Service Inc, the second largest U.S. tax preparer, petitioned for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware on May 24. The Company submitted a pre-packaged plan along with its bankruptcy filing that contains the necessary approvals from its secured lenders, and has asked the Court to approve the plan on an expedited basis.
A prepackaged arrangement permits companies to move through the court process more rapidly. Jackson Hewitt announced that it expects to emerge from bankruptcy in 45-60 days and sees no disruption in its day-to-day operations.
Jackson Hewitt earns most of its revenue through its franchises and tax preparation agreement with Wal-Mart Stores.
This is just a paper shuffle that injures the small shareholders and enriches the big lenders, that is if they ever actually get repaid. And if not, there is always the Fed bailout.
Related articles
- Jackson Hewitt Wins Court Approval to Use Cash Collateral (businessweek.com)
- Jackson Hewitt files for bankruptcy protection (seattletimes.nwsource.com)
- When the folks who do your taxes file for bankruptcy … (theglobeandmail.com)
- Jackson Hewitt files for bankruptcy protection (usatoday.com)
